Differences between the New Income Tax Bill 2025 and the existing Income Tax Act, 1961 Here is a table summarizing the key differences between the New Income Tax Bill, 2025 and the existing Income Tax Act, 1961 based on the information in that document: Feature New Income Tax Bill, 2025 Existing Income Tax Act, 1961… Read More »
Income-Tax Bill, 2025: A Comprehensive Overview The Income-tax Bill, 2025, contains 536 clauses and 23 chapters and 16 Schedules. These clauses are organized into the following chapters: Chapter I: Preliminary Chapter II: Basis of Charge Chapter III: Incomes Which Do Not Form Part of Total Income Chapter IV: Computation of Total Income Chapter V: Income… Read More »
New Income Tax Bill 2025 Extract of some provisions NEw Income tax Bill 2025 Click here to Download The Income-tax Bill, 2025, classifies all incomes under five heads for the purposes of charge of income-tax and computation of total income Salaries [ Income from house property Profits and gains of business or profession Capital gains… Read More »
OpenAI’s Super Bowl Splash: A Bold Leap into the Mainstream Historic First: OpenAI debuted its first-ever television commercial during the Super Bowl on February 9, 2025. Visual Narrative: The 60-second ad used pointillism-style animation to showcase human achievements, culminating in the rise of AI. It depicted milestones from the discovery of fire to space exploration,… Read More »
WhatsApp ChatGPT Now Understands Voice and Images Introduction: OpenAI has enhanced ChatGPT’s integration with WhatsApp. Users can now interact with ChatGPT using voice notes and images. This makes AI interaction more versatile and user-friendly. New Features: Voice Message Analysis: ChatGPT can transcribe and analyze voice notes, providing relevant responses. Image Processing: ChatGPT can analyze images… Read More »
Order of Fee Regulatory Body Chandigargh Quashed by Advisor of UT Chandigarh Contact us on Taxheal@gmail.com The issue involved in this case is the charging of excessive fees by Mount Carmel School, Sector 47, Chandigarh, during the Covid-19 pandemic when the school remained closed (Academic sessions 2020-21 & 2021-22). The parents of the students filed… Read More »
Extension of last date of CPE hours’ compliance for the Calendar year 2024 – From 31st December, 2024 to 28th February, 2025 By: Continuing Professional Education Committee Empanelment of Chartered Accountant firms/LLPs with the O/o C&AG for the year 2025-2026 By: Professional Development Committee Please contribute to the collective growth and empowerment of the CA… Read More »
20 Key Reforms in Income Tax done by Modi Govt in India since 2014 Tax simplification has been a key focus of reforms to India’s income tax system, with the goal of making compliance easier and more efficient. Here’s an overview of the measures taken, as described in the sources: Simplified Tax Structure: The introduction… Read More »
Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Maharashtra and Lakshadweep Feb 8th, 2025 Dear Taxpayers, This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process. 1. Rule 8… Read More »
ITC on Immovable Property: Section 17(5) Valid, Building as Plant Requires Factual Inquiry Summary in Key Points: Issue 1: Constitutional Validity of Section 17(5)(c) and (d) Are clauses (c) and (d) of Section 17(5), which restrict ITC on immovable property, constitutionally valid? Decision: Yes, they are valid. The legislature can carve out exceptions to ITC… Read More »