In a legal challenge against India’s recently enacted Promotion and Regulation of Online Gaming Bill, 2025, which imposes a nationwide ban on all forms of online money games, Heads Digital Works Pvt. Ltd., the company operating popular platforms like A23 …
Many employers in India provide a Flexible Compensation Structure (Flexi Pay), which allows employees to design part of their salary by choosing from different allowances and reimbursements. The objective is to optimize tax savings while meeting personal and professional needs. However, not all …
The Goods and Services Tax (GST), launched in July 2017, has been one of the most transformative tax reforms in India’s history. Now, eight years later, the indirect tax regime is at a critical crossroads. The 56th GST Council Meeting, …
Leave encashment is a monetary benefit received by an employee for the leave days not availed during the period of service. The Income-tax Act, 1961 provides exemption on such receipts under Section 10(10AA). The scope of exemption depends upon the nature …
Gratuity is a retirement benefit payable by an employer to an employee in recognition of long and continuous service. To provide relief to employees, the Income-tax Act, 1961 grants exemption on gratuity receipts under Section 10(10). The extent of exemption depends …
In India, life insurance and health insurance are not just tools for financial protection but also provide significant tax-saving opportunities under the Income-tax Act, 1961. Life insurance safeguards the financial security of dependents in case of an unfortunate event, while …
The Central Board of Indirect Taxes and Customs (CBIC), through a recent update on its official “X” (formerly Twitter) handle, has issued an advisory cautioning businesses, industry stakeholders, and the general public against engaging in speculation regarding Goods and Services …
India has emerged as one of the world’s fastest-growing startup ecosystems, with the government actively promoting innovation and entrepreneurship through the Startup India initiative. Recognizing that newly established businesses face funding challenges and high compliance costs, the Income-tax Act, 1961 provides …
Retirement brings financial security in the form of pensions. However, many retirees and their families are often unsure about how pensions are taxed in India. The Income-tax Act distinguishes between different types of pensions—uncommuted pension, commuted pension, and family pension—and …
The Central Board of Direct Taxes (CBDT) has notified important changes to the Income-tax Rules, 1962 through Notification No. 136/2025 (G.S.R. 566(E)), dated 21st August 2025. The amendment specifically impacts Rule 21AIA, which deals with procedures relating to the income of certain investment funds. The …
The Central Board of Direct Taxes (CBDT) has brought welcome relief for salaried employees by revising the income limits for taxation of certain perquisites (benefits provided by employers, like free housing, cars, education, or medical facilities). Until now, the thresholds were outdated and caused …
The Central Board of Direct Taxes (CBDT) has released Instruction No. 01/2025, dated 18 August 2025, easing compliance requirements under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. The move brings relief to taxpayers holding minor undisclosed foreign assets by …
On 20 August 2025, the Enforcement Directorate (ED) of India’s Hyderabad unit arrested Sharad Chandra Toshniwal, a Chartered Accountant, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The arrest is connected to the ongoing probe involving Capital Protection Force …
The Income Tax Bill, 2025 has undergone major revisions between the February Draft and the August Draft, with significant implications for corporate taxpayers, LLPs, NPOs, and professionals. While the August draft addresses several concerns raised earlier, it also expands the tax net in some …
The Government of India has tabled the much-anticipated Online Gaming Bill 2025, a comprehensive framework designed to regulate, monitor, and control online gaming across the country. The legislation introduces stringent penalties for service providers, advertisers, financial institutions, and repeat offenders found involved in unauthorized or harmful …
On 21 August 2025, the Income-Tax (No. 2) Bill, 2025 officially received the President’s assent, becoming the Income-Tax Act, 2025 — a landmark overhaul of India’s tax code. This modernized legislation is slated to commence from 1 April 2026, ushering in a new unified Tax Year system and supplanting …
On 15 August 2025, during his Independence Day address, Prime Minister Narendra Modi announced a landmark reform of India’s Goods and Services Tax (GST) regime, positioning it as the “Next-Generation GST.” The reform aims to simplify India’s indirect tax system through structural …
Security services play a vital role in safeguarding people, property, and business establishments. In India, the provision of such services is treated as a taxable supply under the Goods and Services Tax (GST) regime. A security agency typically deploys personnel such as …
The government has overhauled the Income Tax law with sweeping changes effective from FY 2025-26. From higher exemption limits and revised tax slabs to faceless assessments and simplified compliance, the new law aims to make taxation fairer, easier, and more transparent. For …
Form No. 10AB is the statutory application prescribed under the Income-tax Act, 1961 for obtaining, renewing, or modifying registration and approval of charitable or religious trusts, institutions, funds, universities, and research entities under sections 12AB, 10(23C), 80G, and 35. It …