“NRI Receiving a Gift from India? – Know when it is tax-free, taxable, and what FEMA allows.” For NRIs, gifts from specified relatives are generally tax-free regardless of value, while gifts from non-relatives become taxable once the aggregate value exceeds INR 50,000. Apart from income-tax implications, FEMA regulations governing remittances, property transfers, and share transfers …
Strategy of How I pick dividend-paying stocks for passive income. What Are Dividend Stocks : Dividends = Profit Sharing: Companies reward shareholders with a portion of profits. Stable Companies: Often large, established firms with consistent performance. Why Dividend Stocks Work for Passive Income Regular Income – Quarterly or monthly payouts. No Need to Sell – …
Tax Audit: The difference between business & profession matters a lot The difference between “business” and “profession” matters a lot for tax rates, deductions, compliance requirements, and even audit applicability — and misclassification can lead to penalties, back taxes, and disputes with the department. Definitions under the Act Section 2(13) – Business Includes trade, commerce, …
Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2025 – 5th Amendments Procedural & disclosure in CIRP framework The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2025 introduces important procedural and disclosure-related amendments to the CIRP framework under the IBC. These amendments Reinforce the importance of …
INSURANCE POLICY & REGULATORY UPDATES GST on Insurance Premiums : GST Council is considering reducing GST on health and life insurance premiums from 18% to 5% while retaining input tax credit – aiming to improve affordability. Disclosure of Existing Policies – SC Ruling : Supreme Court says non-disclosure of existing life insurance policies when buying …
Analysis of the Admissibility of Section 54C Applications Filed After 14 Days of a Section 7 Application This article examines whether an application under Section 54C of the IBC Code can be admitted if filed after 14 days from the filing of a Section 7 application. Moreover, it explores whether 14-day period u/s 11A(3) is …
Income Tax Bill, 2025 empowers for tax authorities to access digital platforms The proposed Income Tax Bill, 2025, introduces expanded powers for tax authorities to access various digital platforms as social media accounts, emails, and online financial accounts during investigations into suspected tax evasion. This includes the authority to override access codes to computer systems …
Enhanced Biometric Authentication process for applicants The Goods and Services Tax Network has recently enhanced the biometric authentication process for new GST registration applicants. Previously, applicants identified for biometric-based Aadhaar authentication were required to visit their designated jurisdictional GST Suvidha Kendra for verification. Now promoters and directors of certain businesses can complete this mandatory biometric …
GST refund process for exports with payment of IGST GST refund process for exports with payment of IGST under the present return filing system. Key Steps in the GST Refund Process for Exports with IGST Payment (a) Filing of Shipping Bill on ICEGATE The shipping bill serves as a key document for processing refunds. Export-related …
Overview on Benami Transactions (Prohibition) Act, 1988 The Indian government has taken several measures to combat black money, such as the Black Money Act, Income Disclosure Scheme, and demonetization. Among these measures, the term Benami—meaning “no name” or “without name” in Hindi—has gained significant attention. Legislative Background of Benami Transactions (Prohibition) Act, 1988 : The …