India’s Parliament on Tuesday passed the new Income Tax Bill, 2025, set to replace the six-decade reign of the Income Tax Act of 1961. The Rajya Sabha returned the bill to the Lok Sabha with a voice vote after its swift passage in the lower house last Monday within just three minutes amid opposition protests….
In pulling off stunning profits in a short spell, Jane Street has challenged several principles and left multiple fingerprints for the income tax (I-T) authorities in India. An artful use of its arms in different jurisdictions to carry out diverse trades and escape tax will, in all likelihood, come under the scrutiny of the I-T…
Adverse tax assessments by tax authorities often result in additional tax liabilities, commonly known as “tax demand.” Under the Income-tax Act (IT Act), taxpayers must pay the tax demand within 30 days of receiving the demand notice. While they have the right to challenge an adverse order before a higher forum, the complexity of managing…
