ITAT held that goodwill arising from acquisition of a business as a going concern represents a bundle of commercial and business rights. Following Supreme Court precedent, depreciation under Section ...

The ITAT reaffirmed that Section 2(22)(e) cannot extend the definition of shareholder to a concern receiving the loan. The deemed dividend, if attracted, must be taxed in the hands of the substantial ...

Some economists argue that rich countries should tax the rich even more heavily ...

Working professionals in India may soon see a noticeable increase in their take-home salary, thanks to the proposed Income Tax Rules, 2026. The draft rules are designed to replace the decades-old ...

What do the draft income tax rules mean for the common man? How does the calculation math for the old vs new income tax regime change? How much more tax can you now save under the old regime with ...