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Section 292BB: An Analysis Through the Principles of Natural Justice and Judicial Discipline under the Income Tax Act, 1961
Introduction and Legislative BackgroundSection 292BB, incorporated via the Finance Act, 2008 and effective from April 1, 2008 (applicable from Assessment Year 2008-09), was introduced to address growi...
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Union Budget 2026-27: Key Considerations for Reforming Anti-Abuse Measures under Section 119 of the Income-tax Act, 2025 (Formerly Section 79)
Background: Transition from Section 79 to Section 119i) Evolution of Anti-Abuse ProvisionsSection 79 of the Income-tax Act, 1961 was introduced to deter assessees from acquiring loss-incurring compani...
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Key Amendments to GST Law Proposed by Finance Bill, 2026
Introduction and Effective Date The Union Budget for the financial year 2026-27 was presented by India’s Finance Minister, Nirmala Sitharaman, on February 1, 2026. The Finance Bill, 2026, introduces s...
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Changing Dynamics of Share Buy-back Taxation in India: From Section 115QA to Section 69
Introduction: Understanding Buy-back of Shares and Its Tax EvolutionBuy-back of shares involves a company repurchasing its own shares from existing shareholders at a predetermined price, leading to a...
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Benami Law in Flux: Supreme Court Divergences, Recall Proceedings, and the Renewed Significance of Finality in Indian Jurisprudence
OverviewThe 2016 overhaul of the Benami Transactions (Prohibition) Act, 1988 by way of the Benami Transactions (Prohibition) Amendment Act, 2016 represented a paradigm shift in India’s fight against u...
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Comprehensive Overview of Key Direct Tax Proposals in Finance Bill 2026
Revised Income Tax Rates(i) General Tax Slabs and RatesThe Finance Bill 2026 has not introduced any modifications to existing tax slabs, surcharge, or education cess for both the old and new tax regim...
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Major Highlights of Budget 2026 for Individual Assessees
Overview of Economic Landscape and Budget FocusThe financial year 2025-26 experienced notable turbulence with rapid domestic and international economic shifts. India observed changes in consumer spend...
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Budget 2026 Tax Amendments: Transition from Court-Centric Interpretations to Legislative Supremacy
Overview of Legislative Realignment in Tax PolicyThe Finance Bill, 2026 represents a milestone in Indian tax law, marking a decisive move from judicially interpreted frameworks to a regime firmly root...
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Foreign Assets of Small Taxpayers Disclosure Scheme, 2026: A Detailed Analysis
Introduction: The 2026 Union Budget introduced a pivotal initiative—the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 ("the Scheme")—to address issues of undisclosed foreign assets and inc...
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EU-India Free Trade Agreement: A Comprehensive Overview of Tariff and Market Access Measures
IntroductionThe European Union (EU) and India have concluded negotiations on a landmark Free Trade Agreement (FTA), representing the most significant opening of India's markets to date and the largest...
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Union Budget 2026–27: Transformative Measures in Direct Taxation, GST, and Customs
The Union Budget for the fiscal year 2026–27 represents a strategic initiative towards comprehensive tax policy reform, emphasizing the improvement of tax administration, rationalization of indirect t...
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Budget 2026-27: Shifting from Tax Disputes to Predictable Compliance
1. Introduction: A New Approach to Tax AdministrationThe 2026-27 Union Budget marks a significant departure from previous years by focusing on reducing the administrative and procedural complexities t...
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Evolving Role of MAT and the Push Towards the New Corporate Tax Structure
OverviewThe Minimum Alternate Tax (MAT) has historically acted as a safeguard in India’s tax system, compelling companies to contribute a minimum level of tax on their book profits, even after leverag...
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Budget 2026: Legislative Reforms Reshape India’s Tax Dispute Environment
Overview: Subtle Yet Profound Impact of Budget 2026Budget 2026, announced by Finance Minister Nirmala Sitharaman on February 1, 2026, may not be noted for dramatic tax rate revisions or major fiscal c...
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Finance Bill 2026: Streamlining Block Assessment Rules for "Other Persons" under Income-tax Act, 2025
OverviewThe Finance Bill, 2026 introduces pivotal modifications to the Income-tax Act, 2025—specifically impacting Sections 295 and 296 through Clauses 64 and 65. These proposed changes focus on the t...
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Key Highlights and Analysis of the Finance Bill, 2026: Comprehensive Overview and Checklist
Income Tax Act, 2025: Core Amendments1.1. Individual Taxationi) Tax Slabs under Section 202 of ITA 2025 (corresponding to Section 115BAC of ITA 1961)No alterations to personal tax rates, surcharges, o...
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Tax Implications for Sovereign Gold Bonds (SGBs): Understanding the Budget 2026 Amendments
Introduction to Sovereign Gold Bonds and TaxationSovereign Gold Bonds (SGBs), offered by the Government of India via the Reserve Bank of India, have emerged as a preferred choice for assessees seeking...
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Union Budget 2026–27: Enhanced Reporting and Penalty Regime for the Crypto Sector in India
Introduction: Budget 2026–27 and Crypto Sector DevelopmentsThe 2026–27 Union Budget did not bring anticipated tax concessions for those dealing in crypto-assets. Assessees had hoped for measures such...
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Union Budget 2026: Detailed Analysis of Key Direct Tax Amendments and Policy Shifts
Introduction: Policy Focus and General OverviewThe Finance Minister’s presentation of the Union Budget 2026 continues to underscore the government’s commitment to long-term structural reform, facilita...
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Overhaul of Capital Gains Tax Exemption for Sovereign Gold Bonds: Key Changes from Budget 2026
Introduction: Major Shift in SGB TaxationThe 2026 Union Budget has introduced a significant transformation in the tax treatment of Sovereign Gold Bonds (SGBs). Effective April 1, 2026, only assessees...