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Direct Tax Insights: Expert Analysis and Updates

Section 80TTB for Senior Citizens in India

For many seniors, handling money in retirement is about smart planning and enjoying their golden years. One of the most beneficial provisions in the Indian Income Tax Act for this demographic is Section 80TTB. In this guide, we’ll cover Section 80TTB. We’ll discuss who can claim it, what types of income it covers, and how […] Print

Team Counselvise-February 07, 2025

Income Tax

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Budget 2025: Key Direct Tax Changes You Need to Know

The Union Budget 2025 has introduced several direct tax changes aimed at reducing the tax burden and easing compliance for individuals and businesses. With higher rebate limits, revised TDS thresholds, and relaxed rules for property ownership, these updates benefit salaried employees, senior citizens, small investors, and professionals. Here are the key highlights. 1. Higher Tax […] Print

Team Counselvise-February 04, 2025

Income Tax

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ICAI’s Key Suggestions for the Union Budget 2025

With the Union Budget 2025 set to be presented by Finance Minister Nirmala Sitharaman on February 1, the Institute of Chartered Accountants of India (ICAI) has put forth a set of recommendations aimed at simplifying tax laws, reducing litigation, and easing compliance burdens. Among the most notable suggestions is the introduction of joint taxation for […] Print

Team Counselvise-January 30, 2025

Direct Tax

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Most Common Tax Disputes in Income Tax

Income tax disputes are a recurring challenge for taxpayers and tax authorities worldwide, and 2024 has been no exception. As tax systems evolve and regulations grow complex, disputes arise. They stem from misunderstandings, different interpretations of tax laws, and compliance issues. So, here is the list of most common tax disputes and this includes: 1. […] Print

Team Counselvise-January 28, 2025

Direct Tax

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Form 16: Everything You Need to Know

Form 16 is a term that frequently pops up during the tax season in India, but what is it really, and why is it so important? Whether you’re a salaried employee navigating the world of taxes or just someone curious about India’s tax system, this guide will break down everything you need to know about […] Print

Team Counselvise-January 27, 2025

Startups

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The Startup India Scheme and Section 80-IAC Tax Exemption

The entrepreneurial spirit in India is flourishing like never before. With innovation and ambition at its core, the government has launched initiatives to empower new entrepreneurs. A key initiative is the Startup India Scheme. It, along with the 80IAC tax exemption, aims to support and incentivize startups in their growth. What is the Startup India […] Print

Team Counselvise-January 08, 2025

Income Tax

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SECTION 47: CERTAIN TRANSACTION NOT REGARDED AS TRANSFER (EXEMPT TRANSFER)

What is section 47 of Income Tax Act? Section 47 of the Income Tax Act, 1961 (India) specifies transactions that are not regarded as transfers for the purposes of capital gains tax. Under normal circumstances, when a capital asset is transferred, any gains or profits derived from the transfer are subject to capital gains tax. […] Print

Team Counselvise-January 06, 2025

Startups

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Startup Tools for Success in India

Starting a startup is a thrilling journey, especially in India. Its vibrant ecosystem is full of entrepreneurial opportunities. However, to move from idea to execution, you need the right tools in your arsenal. Whether you're working on a tech innovation, a service platform, or a product-based Startup, leveraging these tools can simplify the process and […] Print

Team Counselvise-January 06, 2025

Income Tax

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Income tax notices and how to reply to them

What is an Income Tax Notice? Income tax notices are official communications from the Income Tax Department to a taxpayer, highlighting issues or actions related to their tax filings. Receiving such a notice doesn't always indicate wrongdoing; it may simply request additional information or clarification. Types of Income Tax Notices Section Purpose Description 139(9)   […] Print

Team Counselvise-January 03, 2025

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Direct Tax

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Direct Tax

Direct Tax

Indirect Tax

Corporate Law

Other Links

Direct Tax Insights: Expert Analysis and Updates

Section 80TTB for Senior Citizens in India

Budget 2025: Key Direct Tax Changes You Need to Know

ICAI’s Key Suggestions for the Union Budget 2025

Most Common Tax Disputes in Income Tax

Form 16: Everything You Need to Know

The Startup India Scheme and Section 80-IAC Tax Exemption

SECTION 47: CERTAIN TRANSACTION NOT REGARDED AS TRANSFER (EXEMPT TRANSFER)

Startup Tools for Success in India

Income tax notices and how to reply to them