Tax implications of gifting funds to minor daughter to invest in US stocks
As per RBI norms, resident individuals can remit up to $250,000 per financial year for various permissible capital and ...
What is new Income Tax Bill announced by Finance Minister Nirmala Sitharaman and why it will replace the Income Tax Act
The new income tax bill received clearance from Union Cabinet last week. Soon, the FM will likely table the same in the ...
What Is The New Income Tax Bill 2025? Explained
Finance Minister Nirmala Sitharaman during her Budget 2025 speech on February 1, 2025 announced the New Income Tax Bill that ...
PPF For Regular Income: How to get Rs 1,20,000/month tax-free income from Public Provident Fund?
Only Indian residents can open a PPF account. It has a minimum tenure of 15 years. The principal amount invested and the ...
Tax Guru18h
Reopening u/s. 148 after four years without failure to disclose material facts unsustainable
ITAT Bangalore held that reopening of assessment under section 148 after expiry of four years without failure on part of assessee to disclose fully and truly all material facts is invalid and hence ...
Tax Guru21h
Penalty proceedings initiated by reference for calculation of limitation: Karnatka HC
In the recent ruling Hon’ble HC have observed that penalty proceedings, initiated u/s 271 D is barred by delay & laches as period of limitation starts from the reference made by ITO to Addl. CIT.