Finance & Tax

Imagine you are going to appear for an interview for the post of ‘Tax Associate’ without knowing properly the ‘Heads of Income” under the Income Tax Act, 1961 chaos! So, when you sit for interviews for such a job role, interviewers often test your basic knowledge of such subject.  Let study one story of Miss […]

Let’s begin this discussion with a question asked by one of the students in my class Sir, is depreciation method different under accounting and income tax? Simple question but very relevant in accounting and tax world. This is the puzzled question Arnab, a management student with no finance background, asked during my tax class. Let’s

Compliance is an essential expectation of every sphere if it’s a contribution to the nation’s development. Here is the query? Do people respond logically whenever it’s a question of payment of tax. Imagine you have earned some extra money and keeping it safe in cash, thinking no one will notice. It’s a conscious action of

I was lounging in my living room on a Sunday morning when my next-door neighbor Samit came who is presently working in a foreign country on a project for the last one year. I welcomed him and asked how are you doing? He was looking little anxious and asked me “Why will I pay tax

Introduction Digitalisation means the transition from analogue to digital methods of recording and transmitting information in the human-digital environment. In the contemporary era of accelerated digitalisation, the global economy is experiencing profound transformations driven by advancements in information technology. One of the key phenomena in this process is the rapid creation of virtual assets. Virtual

The new Income Tax Act, 2025 will be applicable from 1st April, 2026, replacing the six-decade-existing Income Tax Act, 1961. The new Bill removes redundant provisions and outdated language, and is likely to come into effect from April 1, 2026. This bill aims to reduce the complexity of India’s current tax framework simplifying the language of