Insights, articles and updates from our practice
Cash Expenditure Limits Under the Income Tax Act, 2025 (Replacing the Income Tax Act, 1961 — Effective from New Framework) 1. Business Expenses — Section 36(3) Formerly: Sec...
Section 86 of the Income-tax Act, 2025 corresponds to section 54F of the Income-tax Act, 1961 and provides exemption from long-term capital gains when the sale proceeds of a non-residential long-term...
Section 82 — Profit on Sale of House Property Property Used for Residence (IT Act, 2025) Equivalent to: Section 54 of the Income Tax Act, 1961 Chapter: IV (Capital Gains) Effective from: 1 April...
New Income tax section for Partnership Deed and LLP Section 35(e) — Partner Remuneration & Interest (Replaces Section 40(b) of the old Act) Section Matter 35(e)(iii) Remune...
Many private limited companies issue shares to existing shareholders through a rights issue at face value. A common question is: If the market value of shares is much higher than the issue price, can...
Taxation of Immovable Property Under the New Income-tax Act, 2025 Understanding Section 78 (Old 50C) and Section 92(2)(m) (Old 56(2)(x)) The new Income-tax Act, 2025 has reorganized and renumbered sev...
What is a "Specified Agreement"? A "specified agreement" means a registered agreement in which a person owning land or building, or both, agrees to allow another person to develop a real estate projec...
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