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The increasing use of Artificial Intelligence (AI) in legal and financial research is raising concerns about its reliability, as seen in a recent tax ruling by the Bengaluru bench of the Income Tax Appellate Tribunal (ITAT). The tribunal passed an order in Buckeye Trust vs PCIT-1 Bangalore …

As the Financial Year (FY) 2024-25 begins, it’s essential to plan ahead and utilize tax-saving options to reduce your tax liability. By taking advantage of various deductions under the Income Tax Act, you can lower your taxable income and optimize your savings. Here’s your ultimate guide …

The Income Tax Bill, 2025, aims to make income tax return (ITR) filing more structured and user-friendly. With streamlined provisions for taxpayers, exempt entities, and return deadlines, the proposed changes focus on better clarity and accessibility. Here’s how the new framework will impact taxpayers: 1. Easier Understanding of Return Filing …

The Institute of Chartered Accountants of India (ICAI) has issued important guidelines for candidates applying for the May 2025 CA exams. Aspiring Chartered Accountants must ensure their eligibility and complete the necessary formalities through ICAI’s Self Service Portal (SSP) before submitting their exam applications. Key Requirements …

As you are aware that reducing tax liability under provisions of applicable tax laws is our right and supported by our Constitution. However, tax evasion and avoidance are not allowed. You have the right to plan your transactions so that you will be able to reduce …

LLP Annual Return Filing is a vital requirement beneath the Limited Liability Partnership Act, 2008, ensuring transparency, economic discipline, and compliance with regulatory authorities just like the Ministry of Corporate Affairs (MCA). This article shall help you in understanding the importance of LLP Annual Return Filing …

In a significant step toward regulating cryptocurrency transactions and curbing tax evasion, the government has proposed to include Virtual Digital Assets (VDAs) within the definition of “undisclosed income” under the block assessment scheme. This change, part of the Finance Bill 2025, means that any undisclosed crypto …