Income Tax

1. Background of the Dispute(i) The Parties and Their Structure(a) Tiger Global International II Holdings, III Holdings, and IV Holdings (collectively "TGM Mauritius") are private entities incorporate...

1. Introduction: The Crucial Role of Show Cause Notice in Income Tax ProsecutionThe current legal regime under Section 491 (formerly Section 279) represents both the most onerous and most benevolent a...

Overview: Anticipations and Context(i) Individual Assessees’ Expectations and Tax Relief ProspectsAs the announcement of the Union Budget 2026 nears, individual assessees are keenly awaiting the Finan...

The upcoming Union Budget 2026–27 is anticipated to reinforce India’s economic trajectory by deepening structural reforms, maintaining fiscal discipline, and prioritizing productive capital outlays. T...

Overview: Budget as a Tool for Economic Assessment and Future PlanningEvery budget, whether at a household or national level, serves to evaluate current financial realities and chart a path toward tar...

1. IntroductionImagine receiving an income tax notice, actively cooperating with the Income Tax Department, only to later realize that the Assessing Officer (AO) handling your assessment lacked the le...

What has changed? Everything you need to know about the new compliance landscapeFebruary 2026 — In a move towards simplification and modernization, the Indian government has released the Draft Income...

Overview: Buyback of Shares versus Dividend DistributionIndian companies commonly use either share buyback or dividend distribution to return value to their shareholders. While dividend payouts are a...

IntroductionGlobal Capability Centers (GCCs) have emerged as pivotal players within India’s corporate ecosystem, facilitating operational efficiency, technological innovation, and international compet...

Introduction: Embracing a New Era in Tax ComplianceThe presentation of the Union Budget 2026 by the Finance Minister marks a historic ninth consecutive budget, reflecting the aspirations and energy of...

Introduction(i) Evolution of Buyback Taxation in IndiaThe practice of companies repurchasing their own shares serves as a means to return accumulated profits or reserves to the shareholders. The tax i...

1. Introduction: A New Era of Tax Certainty for India's IT and GCC SectorThis year's Union Budget, crafted in the historic Kartavya Bhawan, marks a significant step in India's approach to tax administ...

Introduction to MAT and Its Current StructureMinimum Alternate Tax (MAT) serves as an alternate tax computation method, compelling companies to pay tax on their book profits if such tax exceeds the li...

Five-Year Exemption on Global Income for Foreign Specialists in India(i) Policy Objective and Legislative FrameworkIn an ambitious step to transform India into a leading destination for advanced techn...

The 2026 Union Budget presented by Finance Minister Mrs. Nirmala Sitaraman has left many assessees dissatisfied, as expectations for higher exemption thresholds and relaxed tax slabs were not fully ad...

OverviewIndia’s Updated Approach to Crypto-Asset ReportingThe Union Budget 2026–27 has initiated a significant transformation in the Income-tax Act, 2025, by replacing the original penalty provisions...

1. OverviewThe Income-tax Act, 2025 (ITA 2025) was designed to simplify and clarify tax laws. However, its initial effect on Non-Profit Organisations (NPOs) was to introduce interpretational ambiguiti...

OverviewThe Union Budget 2026 has introduced several provisions that are particularly relevant to non-resident individuals (NRIs) and foreign investors. These amendments are aimed at enhancing the inv...

IntroductionThe regulatory landscape for trusts and non-profit organizations (NPOs) is experiencing significant transformation with the implementation of the Income-tax Act, 2025 (ITA 2025). With a de...

Background and Contexti) Evolution of Taxation on Buy-Back of SharesTo fully appreciate the amendment proposed in the Finance Bill, 2026, regarding section 69 of the Income-tax Act, 2025, it is import...