The Indian government system shared powers between the central and state governments. The sharing of power is essential as it forms a key part of how state laws become actual laws. The governor of the state has an essential role, either by approving the bill or sometimes sending it to the president for consideration.
We are delighted to announce that the Insolvency and Bankruptcy Law Division of CBLT, RGNUL is organizing the International Conference on Insolvency and Bankruptcy Law, scheduled to be organised on 6-7 September, 2025 and warmly invites you to participate.
Navigating the Future of ADR in India: Insights from the Mediation Act 2023 and Beyond What to Expect: In-depth Analysis
Panel Discussion: Evolution of Criminal Jurisprudence over time Speakers: Adv. Kumar Kislay Partner, JSA Advocates & Solicitors Mrs. Heena Praveen
This comprehensive analysis aims to delve into each of these concepts—tax planning, tax avoidance, tax evasion, and tax management—by providing a detailed explanation of their legal standing, practical examples, and judicial precedents that have shaped the current framework of tax law in India.
In many instances, employers provide additional benefits, privileges, and amenities to their employees, which may or may not be in the form of direct monetary compensation. These non-monetary benefits are known as perquisites under Section 17(2) of the Income Tax Act, 1961.
Section 22 of the Income Tax Act provides the framework for calculating this income, laying out specific criteria and rules on how property income should be treated for taxation purposes.
Provident funds (PF) are an essential financial instrument for ensuring long-term savings and security, especially for salaried individuals. In India, they are an integral part of employee benefit schemes, contributing significantly to the retirement plans of workers. However, understanding the tax treatment associated with provident fund contributions, the interest earned, and the withdrawals can be complex, particularly as it varies based on the type of provident fund involved
In India, the concept of residential status plays a decisive role in ascertaining whether an individual is required to pay tax only on income earned within India or on their global income. Many people mistakenly believe that taxation depends on citizenship, but under the Income Tax Act, 1961, it is a person’s physical presence in India that determines their residential status and, consequently, their tax obligations.
Under the Act, income derived from business or profession is subject to taxation under the head “Profits and Gains of Business or Profession,” specifically outlined under Section 28. This section encompasses a wide range of incomes arising from different sources within a business or professional activity. These include regular profits, compensation, export incentives, and more.
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