The ITAT held that fresh allotment of shares at a value below fair market value attracts Section 56(2)(viia). The term receives includes allotment, and the differential amount was rightly taxed as ...

The Tribunal clarified that even where the assessee owns more than ten trucks, Section 44AE can be used as a fair yardstick for income estimation. Arbitrary assessment and multiple additions were set ...

With most of your tax documents likely in hand, it’s time to think about when to file your 2025 return. This year more than most it makes sense to explore filing as soon as possible, as refunds ...

Public attention has once again turned to the state privileges enjoyed by members of parliament (MPs) as the process of ...

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Finance Minister Dr Ashni Singh yesterday successfully piloted the Fiscal Enactments (Amendment) Bill to give effect to the measures announced in the 2026 ...

You will not be the only one ticked off about this, but your employer is not getting anything from your funds going into a Roth account in your 401 (k). In fact, depending on exactly how the plan is ...

The focus has shifted to the wide range of financial benefits, facilities, and special entitlements provided to lawmakers.

Three constitutional measures proposed by the 2025 North Dakota Legislature are running into opposition ahead of the June and November elections, including a challenge to one that could keep it off ...

A woman successfully claimed capital gains tax exemption on Rs 26 crore from selling shares. The Income Tax Appellate Tribunal in Kolkata ruled in her favour, allowing her claim under Section 54F. She ...