TaxinIndia Archives - CA ALOK KUMAR

Tax Lessons from Rana Ayyub's Covid-19 Donation Case: What You Need to Know

The Rana Ayyub Crowdfunding Case: A Wake-Up Call on Donations, Tax, and Legal Compliance in India

By CA ALOK KUMAR May 8, 2025Income Tax Act 1961No Comments

Tax Lessons from Rana Ayyub's Covid-19 Donation Case: What You Need to Know

Beware of Income Tax Refund Scams: IT Department Issues Warning

By CA ALOK KUMAR December 20, 2024Income Tax, Income Tax Department, Income Tax RefundNo Comments

The Income Tax (IT) Department has issued an important warning to taxpayers about an increase in scams related to income tax refunds. Fraudsters are using emails, messages, and fake calls…

Tax Planning Within Law Is Not Tax Evasion – Offsetting STCL Against LTCG Is Legal – ITAT Mumbai

By CA ALOK KUMAR December 13, 2024Capital Gain, Income Tax, Income Tax Act 1961, Income Tax Department, Income Tax Order, Income Tax Refund, ITAT Decision, ITAT Ruling, Long-term Capital gain, Sec.148 of Income Tax Act, Short-term Capital gain, Tax on capital Gain, Virtual Digital AssetNo Comments

ITAT Allows Taxpayer to Offset STCL Against LTCG, Rejecting Tax Evasion Claims The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has upheld the right of taxpayers to offset…

The Taxman Knows: Why and How to Disclose Your Foreign Assets in India

By CA ALOK KUMAR December 12, 2024BLACK MONEY ACT, Disclosing Foreign Assets, Foreign Account tax compliance, Foreign Assets, Foreign Direct Investment, Foreign Remittance, Foreign Travel, How to check TCS on Forex Transactions and Foreign Travel, Income Tax, Income Tax Act 1961, Income Tax Department, RBI Foreign Remittance Policy, Sec.148 of Income Tax Act, source of incomeNo Comments

The Indian Income Tax Department has intensified its focus on foreign assets held by resident taxpayers. With advanced data-sharing mechanisms and stringent laws like the Black Money (Undisclosed Foreign Income and…

Time to negotiate your Tax Bills with Income Tax department – Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV 2024)

By CA ALOK KUMAR December 9, 2024Advance Tax, BLACK MONEY ACT, Direct Tax, HUF Taxation, Income Tax, Income Tax Act 1961, Income Tax Department, Income Tax Order, Income Tax Refund, New Tax Regime, New Tax System, NGO Tax, Presumptive Taxation, Tax Assessment, Tax in India, TaxPayers Voice, Vivad se Vishwas, Vivad se Vishwas 2.0, Vivad se Vishwas 2024No Comments

The Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV 2024): Simplifying Tax Dispute Resolution The Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV 2024) is a transformative government initiative designed to address…

Unaccounted Money as Unsecured Loan: Mumbai ITAT Upholds Tax Addition Under Section 68

By CA ALOK KUMAR September 28, 2024Annual Information Statement (AIS), Cash Credit, ITAT Decision, ITAT Ruling, UnExplained Cash CreditsNo Comments

Unaccounted Money as Unsecured Loan: Mumbai ITAT Upholds Tax Addition Under Section 68

Transitioning from Old to New Tax Regime Post Budget 2024

By CA ALOK KUMAR July 27, 2024Direct Tax, HUF Taxation, Income Tax, Income Tax Act 1961, Income Tax Department, New Tax Regime, New Tax System, NRI Tax In India, Presumptive Taxation1 Comment

Budget 2024 has introduced significant changes to the new tax regime, offering increased tax relief by revising income tax slabs and enhancing standard deductions. Taxpayers now face a crucial decision:…

Audit Trail Requirements in Corporate Accounting in India Audit Trail Requirement in Corporate Accounting in India

Global Tax Updates: Key International Tax Developments

By CA ALOK KUMAR January 13, 2024Global Tax Updates, Income Tax Act 1961, International TaxNo Comments

In this World Tax updates, we delve into detailed updates from the international tax arena, highlighting three major developments: 1. Netherlands Releases Detailed Guide on Implementing Pillar 2 Global Minimum…

Various Threshold Limits under the Income Tax Act for AY 2023-24

By CA ALOK KUMAR January 9, 2024Income Tax Act 1961, ITR Filing, ITR Filing Due Date, Tax Filing In IndiaNo Comments

Various Threshold Limits under the Income Tax Act [AY 2023-24] S.N.ParticularsThreshold LimitsA.Basic Exemption1.Maximum amount of income which is not chargeable to Income-tax in case of Individual, HUF/ AOP/ BOI/ Artificial…

Sovereign Gold Bond Scheme 2023-24 (Series III) will be opened for subscription during the period December 18-22, 2023

Sovereign Gold Bonds: A Premier Investment Option for Residents in India

By CA ALOK KUMAR December 18, 2023Income Tax, Income Tax Act 1961, Income Tax Department, Income Tax Order, source of incomeNo Comments

Sovereign Gold Bond Scheme 2023-24 (Series III) will be opened for subscription during the period December 18-22, 2023