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Direct Tax Insights: Expert Analysis and Updates

Direct Tax
free

Cadbury’s ₹320 Crore Tax Dispute: When Marketing Meets Transfer Pricing

When we think of Cadbury, the first thing that comes to mind is the purple wrapper and the tagline “Kuch Meetha Ho Jaaye.” But for the Income Tax Department, Cadbury (Mondelez India Foods Pvt Ltd) became the subject of a ₹320 Crore tax adjustment, sparking a major legal battle before the Income Tax Appellate Tribunal […] Print

Team CounselviseTeam Counselvise-September 02, 2025
Direct Tax
free

ITAT Ahmedabad Rules on Section 87A Rebate Against STCG under Section 111A (A.Y. 2024–25)

Introduction One of the most debated income-tax issues in the current year has been the scope of rebate under Section 87A, particularly in situations where the assessee’s income comprises short-term capital gains (STCG) on listed equity shares taxable under Section 111A while opting for the default new regime under Section 115BAC(1A). The matter attained significance […] Print

Team CounselviseTeam Counselvise-August 23, 2025
Direct Tax
free

New Thresholds for Perquisites & Medical Benefits – G.S.R. 555(E)

The Ministry of Finance recently introduced the Income-tax (Twenty Second Amendment) Rules, 2025 through Notification G.S.R. 555(E), redefining key thresholds related to perquisites and employer-provided medical benefits. For professionals and salaried employees, this update has significant implications on taxable income and exemptions. Let’s break it down. Under Section 17 of the Income-tax Act, 1961, the […] Print

Team CounselviseTeam Counselvise-August 21, 2025
Direct Tax
free

Cabinet Approves Blanket Ban on Online Money Games

In a landmark move, the Union Cabinet has approved legislation imposing a blanket ban on online money games. This decision has sent shockwaves across a ₹27,438 crore industry, impacting startups, unicorns, and listed companies, including Dream11, MPL, WinZO, and Nazara Technologies. The Rationale Behind the Ban The government’s decision stems from growing concerns over addiction, […] Print

Team CounselviseTeam Counselvise-August 20, 2025
Direct Tax
free

Prem Prakash Gupta v. ITO – ITAT Jaipur Ruling on Turnover Definition for Stamp Vendors 

Introduction The concept of turnover under the Income-tax Act often appears straightforward, until it is applied to agency-based businesses. For licensed stamp vendors, where sales are made on behalf of the government, the question becomes critical: Should turnover include the gross value of stamps sold or only the commission earned?  The decision in Prem Prakash […] Print

Team CounselviseTeam Counselvise-August 19, 2025
Direct Tax
free

AI Hallucination in Court: ITAT Recalls Order Over Fake ChatGPT-Generated Case Laws in Buckeye Trust Tax Dispute

A recent tax tribunal order, hastily withdrawn after citing non-existent court judgments, has sparked concerns over the possible use of generative AI—a groundbreaking technology reshaping the world but notorious for sometimes fabricating information. In December, the Bengaluru bench of the Income Tax Appellate Tribunal (ITAT) issued an order referencing three Supreme Court judgments and one […] Print

Team CounselviseTeam Counselvise-March 20, 2025
Direct Tax
free

Advance Tax Payment

Advance tax may seem tricky, but knowing the basics can help you manage your money. This knowledge can also prevent surprises at the end of the financial year. In this blog, we’ll cover advance tax. We’ll explain who must pay it, key deadlines, and the online payment process. We’ll also show you how to calculate […] Print

Team CounselviseTeam Counselvise-March 10, 2025
Direct Tax
free

How Family Transfers Can Impact Your Tax Bill – Clubbing of Income

Have you ever thought that gifting an asset to a family member might save you tax? Think again! The Income Tax Department has laid down rules—known as clubbing provisions—that could bring that “gift” back to you in the form of extra tax. In this post, we’ll explain clubbing of income. We’ll discuss why it happens […] Print

Team CounselviseTeam Counselvise-March 07, 2025
Direct Tax
free

1961 to 2025 : Tax Transformation

Finance Minister Nirmala Sitharaman tabled the new Income Tax Bill, 2025, in Parliament on February 13, 2025. It aims to overhaul and modernize the existing framework of the 1961 Act by reducing complexity, removing outdated provisions, and streamlining compliance. Structural Changes Particulars 1961 Act 2025 Bill Number of Sections More than 700 536 Number of […] Print

Team CounselviseTeam Counselvise-February 15, 2025
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