An Analysis of Residential Status of an Assessee

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An individual's tax liability in India is determined by whether or not he resides in the country during any given fiscal year. The Indian income tax regulations are the source of the term" resi...

Fiscal Autonomy: Understanding States' Rights On Mineral Tax Royalty

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In a federal system, there are two levels of authority, each with its autonomy. A federal system splits power between these two levels as outlined by the constitution, enabling each to operate ...

NRI Taxation: A Comprehensive Guide to NRI Taxation Services

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As globalization continues to blur geographical boundaries, more and more Indians are living and working abroad. With the number of Non-Resident Indians (NRIs) growing, the complexities surroun...

Impact of Karta's Death on Family-Run Partnerships: Analysis of Commissioner ...

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Petitioner: Commissioner of Income-Tax, Madhya Pradesh, Nagpur v/s Respondent: Seth Govindram Sugar Mills Ltd. Date of Judgment: March 26, 1965 Bench: Justice K. Subba Rao, Justice J.C. Shah, J...

The GST Conundrum: Navigating Impact of New Tax Regime on Education Sector

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The indirect tax regime in India, changed after July 1, 2017 with the introduction of Goods and Services Tax (GST), which subsumed multiple taxes at both state and central level into a single s...

The Recent Changes in Tax Law: Budget 2024

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Finance Minister Ms. Nirmala Sitharaman made significant changes to the new income tax system in the Union Budget 2024. For the fiscal year 2024–2025, the income tax slabs were adjusted, and ...

Note:Income Tax Compliance Due dates-July 2024

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The important due dates and deadlines for compliance-related tasks that a company or organization must complete are outlined in a compliance calendar. It helps reduce the risk of non-compliance...

C.I.T. vs. D.S. Promoters And Developers (P) Ltd [25 DTR 8 (Del.)]: An Analysis

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Facts Of The Case: This appeal, filed under Section 260A of the Income Tax Act, 1961, challenges the concurrent decisions of the Commissioner of Income Tax (Appeals) [CIT(A)] and the...

Ethics and Legality of Tax Avoidance In India

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The problem is that these tax payers are merely dreaming if not bluffing in their approach to sourcing the money to pay taxes. However, their sentiments are nonetheless of keen interest and rep...

How to determine that an Individual is NRI

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A Non-resident Indian (NRI) is an individual who holds Indian citizenship or is of Indian origin but does not reside in India. To determine whether someone is an NRI, their residential status m...