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Unveiling the Shadow Economy: Understanding Undisclosed Sources of Income and Its Tax Implications
Introduction: Undisclosed Sources of Income in the Indian Tax System In the complex world of taxation, one of the most challenging aspects for tax authorities is dealing with undis
Section 194S: A Comprehensive Guide to TDS on Transfer of Virtual Digital Assets
Introduction The rapid rise of cryptocurrencies and other digital assets has prompted governments worldwide to establish regulatory frameworks to govern these new forms of value. I
Stamp Duty in India: A Comprehensive Guide to Types, e-Stamp Papers, and Compliance
Introduction Stamp duty is a crucial aspect of legal documentation in India, serving as a form of tax levied on various legal instruments and transactions. Its primary purpose is t
Input Tax Credit (ITC) on Services Under GST: A Comprehensive Analysis of Place of Supply and Outward Services
Introduction: The Evolution of Input Tax Credit in Indian Taxation The introduction of the Goods and Services Tax (GST) in India marked a paradigm shift in the country’s indi
Legal Angles for Indian Trade Systems and Trade Laws: Impact of Saudi Arabia’s Petrodollar Exit
Introduction Saudi Arabia’s decision to exit the petrodollar system and trade oil in multiple currencies can have significant legal and economic implications for India’
Comprehensive Analysis of Section 83 of CGST Act & Rule 159: Provisional Attachment
Introduction The Goods and Services Tax (GST) regime introduced significant changes to the Indian taxation system, aiming for simplicity, efficiency, and revenue protection. Among
Comprehensive Guide to Filing GSTR-9 Annual Return Online
Introduction Filing the GSTR-9 annual return in India is a critical task for businesses, requiring meticulous reporting of sales, purchases, and reverse charge mechanism (RCM) data
Section 194A: TDS on Interest Other Than ‘Interest On Securities’
Introduction The Indian Income Tax Act, of 1961, incorporates various provisions to regulate and streamline tax deductions at source (TDS). Section 194A specifically deals with TDS
Sovereign Gold Bonds: Unlocking the Potential of Secure Gold Investments
Introduction Sovereign Gold Bonds (SGBs) have emerged as a lucrative investment option for individuals seeking exposure to the gold market while enjoying the benefits of security a
Capital Gains under Income Tax Act, 1961: Understanding the Fourth Head of Income in Detail
Introduction Under the Income Tax Act, 1961, the computation of income is categorized into five heads, with Capital Gains being one of them. Capital Gains entail profits or gains d