Income Tax Act 1961

Microfinance refers to a variety of financial services provided to low-income individuals or those who lack access to typical banking services. It includes microloans, micro-savings, and micro-insurance products designed to…

The Insurance Regulatory and Development Authority of India (IRDAI) has introduced comprehensive regulations titled "Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests and Allied Matters of Insurers)…

The Sensex and the Nifty are two major stock market indices in India that track the performance of the largest and most actively traded companies on the Bombay Stock Exchange…

Return on Equity (ROE) and Return on Capital Employed (ROCE) are both key financial ratios used to assess the profitability and efficiency of a company, particularly from the perspective of…

In India, agricultural income is exempt from income tax under Section 10(1) of the Income Tax Act, 1961. However, this exemption is subject to certain conditions and intricacies, especially when…

In a case where the taxpayer received an unsecured loan of Rs. 6.38 lakhs from a party and claimed that during the year, they had sold goods amounting to Rs.…

The Bombay High Court has recently addressed a case involving the Goods and Services Tax (GST) where the court had previously directed the authorities to issue a refund to the…