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Legal and Compliance Aspects of One-Time Payments to Whole-Time Managerial Personnel (WTMP) upon Retirement or Resignation
Overview and Industry Practices(i) Prevalence of One-Time Payments to Retiring or Resigning Executive Directors(a) In both listed and unlisted public companies, it has become customary for Boards, fol...
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Post-Sale Discounts and GST: Analysis of the Amended Section 15(3)(b), ITC Reversal, and System-Based Compliance
OverviewThe Finance Act, 2026 introduces a significant change to the GST regime by amending section 15(3)(b) of the Central Goods and Services Tax Act, 2017 (CGST Act). This amendment, as per section...
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Reframing GST on Online Gaming: The Gameskraft Judgment and Its Implications
1. The Foundational Challenge: Defining Online Gaming Transactions under GSTEvery complex legal dispute is, at heart, a matter of categorization. In the realm of online gaming in India, the pivotal qu...
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Exploring the Depths of Section 54: Preservation of Long-Term Capital Gain Character Even on Early Sale of New Asset
Overview1.1 Introduction to Section 54 and Its Judicial InterpretationThe essence of long-term capital gains (LTCG) realized from the transfer of a residential property, as covered by section 54 of th...
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Maximizing the Value of GST Data: Elevating Statutory Audits with E-Way Bill and E-Invoicing Analytics
Introduction: The Evolution of GST in Statutory AuditingStatutory audit practices in India have undergone a significant transformation with the digitization of indirect tax administration under the Go...
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Section 195 and Its Timing: Does Taxation Precede Assessment?
Introduction to Section 195 and Related ProvisionsSection 195 of the Income-tax Act, 2025 prescribes a flat tax rate of 60% on specific sums covered under Sections 102 to 106, which correspond to Sect...
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Taxation of Whistleblower Rewards: Capital Receipt, Windfall, or Taxable Income?
1. Introduction to Whistleblower Rewards and Tax Implicationsi) Background and ContextThe question of whether rewards received by whistleblowers, particularly those who expose tax evasion or corporate...
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Overhauled Framework for TDS and TCS Under the Income Tax Act, 2025: Key Changes, Structure, and Practical Guide
Overview: Major Transformation in TDS and TCS ComplianceThe introduction of the Income Tax Act, 2025, marks a fundamental shift in how tax deducted at source (TDS) and tax collected at source (TCS) ar...
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Revisiting Input Tax Credit (ITC) Under GST Post-1 October 2022: Section 16(2)(c) and Section 41(2) of the CGST Act, 2017
Introduction: The Evolving Landscape of ITC under GSTInput Tax Credit (ITC) is a cornerstone of the GST regime, designed to eliminate the cascading effect of indirect taxes by allowing assessees to of...
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Section 151 and the Jurisdictional Challenge in Reassessment: From TOLA to Section 292BC of the Income Tax Act, 1961
Overview In the wake of the significant increase in reassessment notices following 2021, the jurisdictional validity of such notices—particularly under Section 151—has become a major source of legal d...
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Ensuring Finality in Tax Assessments: A Case for the ‘Taxpayer Certainty Year’ under the Income-Tax Act, 2025
Introduction: The Perpetual Uncertainty for Indian AssesseesIndia’s new Income-Tax Act, 2025, which superseded the previous 1961 regime from 1 April 2026, was introduced with the promise of greater si...
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GAAR and PPT in Indian Tax Law: Harmonization or Divergence?
Introduction: Tax Planning and Anti-Avoidance MeasuresTaxation is a mandatory fiscal obligation in every jurisdiction. While legitimate tax planning is permitted within the boundaries of the law, the...
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Provisions of Search and Seizure under the Income Tax Act, 2025: A Comparative Analysis with the Income Tax Act, 1961
Introduction to Search and Requisition ProvisionsThe Income Tax Act, 2025, has streamlined and expanded the framework for search and seizure operations, which were previously governed by sections 132...
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Re-examining Intangibles Transfer Pricing in India: DEMPE, Comparability, and the Gaps in the 2025 Legislative Overhaul
OverviewIndia’s framework for transfer pricing, especially in the context of intangible assets, is under considerable scrutiny as the nation’s economic landscape changes and global tax standards evolv...
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Major Overhaul: Combining Forms 15G/15H into Form 121 under the Income Tax Act, 2025
1. Major Overhaul: Combining Forms 15G/15H into Form 121 under the Income Tax Act, 2025Effective from April 1, 2026, the Income Tax Department has consolidated Forms 15G and 15H into a unified self-de...
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Understanding the Maximum Marginal Rate (MMR) Under the Income-tax Act, 2025
Introduction: Rationale Behind Maximum Marginal RateThe Income-tax Act, 2025, incorporates the concept of the Maximum Marginal Rate (MMR) as a safeguard against tax avoidance strategies, particularly...
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Reconsidering Remand of Section 68 Additions by Tribunals When the Legal Framework Is Clear
Background and Legal ContextSection 68 of the Income-tax Act, 1961 (also corresponding to section 102 of the Income-tax Act, 2025) addresses unexplained credits in the books of an assessee. The Income...
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Section 247 of the Income Tax Act, 2025: Digital Search Powers, Constitutional Concerns, and Reform Directions
Introduction: From Physical to Digital LocksThe Income Tax Act, 2025, which took effect on April 1, 2026, marks a watershed moment in India’s tax enforcement by extending the reach of search and seizu...
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Reassessment Limits and Return Filing Requirements for Foreign Portfolio Investors under Indian Income Tax Law
Overview: Distinct Tax Regime for Foreign Portfolio Investors (FPIs)Foreign Portfolio Investors (FPIs) represent a unique class of non-resident investors who participate in Indian securities markets u...
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Retrospective and Prospective Application of the Prohibition of Benami Property Transactions Act, 1988: Perspectives Post-Manjula v. D.A. Srinivas
OverviewThe question of whether a law operates backward (retrospectively) or only forward (prospectively) is central to its constitutional validity and practical justice, especially regarding anti-ben...