Tax Concept

Outlet metrics

Domain Authority

Ranking

Global

#11887

India

#999

Finance/Accounting and Auditing

Traffic sources

Monthly visitors

Articles

NFRA Operations Under Fire: Impact on Audit Talent Retention

1 month ago | taxconcept.net | Radhika Goyal

Ahead of next month’s Supreme Court hearing regarding the appeal by the National Financial Reporting Authority (NFRA) that challenges the Delhi High Court’s ruling, which annulled 11 show-cause notices issued by the audit regulator, leading audit firms have expressed concerns over the NFRA’s operations. Insiders from the Big Five have informed Financial Express that the NFRA’s current practices violate the Companies Act of 2013.
Trump's Bold Tax Proposal: Exempting Americans Earning Below $150,000 from Federal Income Tax

1 month ago | taxconcept.net | Radhika Goyal

President Donald Trump has proposed a major tax reform that would eliminate federal income tax for individuals earning less than $150,000 annually (approximately 21.3 crore). The plan, which aligns with Trump’s longstanding push for tax cuts, was confirmed by Commerce Secretary Howard Latnik in a recent interview. “I know what his goal is – no tax for anybody who makes less than $150,000 a year.
INCOME TAX ACCESS TO EMAILS & SOCIAL MEDIA - WHAT YOU NEED TO KNOW (FY 2026-27)

1 month ago | taxconcept.net | Radhika Goyal

Starting April 1, 2026, the income tax department will have the authority to access social media, emails, and other digital spaces to curb tax evasion. This has been granted to them under the new income tax bill. This will also include search and seizure powers over your assets and documents, which have raised major privacy concerns. Experts warn of challenges to fundamental privacy rights without judicial oversight and procedural safeguards.
GST REGISTRATION MADE EASIER BIOMETRIC AUTHENTICATION NOW IN YOUR HOME STATE

1 month ago | taxconcept.net | Radhika Goyal

GST registration: New advisory by Goods and Services Tax Network (GSTN) dated March 3, 2025 says additional facility allowing certain Promoters/Directors to complete their Biometric Authentication at any GSK in their Home State has been introduced. There have been changes to the GST registration process regarding biometric authentication.
Everything You Need to Know About the New APAAR ID Card: Benefits, Registration, and Download Guide

1 month ago | taxconcept.net | Radhika Goyal

The Ministry of Education and the Government of India have launched the groundbreaking APAAR ID card as part of the National Education Policy (NEP) 2020. This innovative initiative aims to provide students nationwide with a unique identity number that digitally preserves their credentials, accomplishments, and academic records. The One Nation One Student ID card will facilitate seamless educational transitions across institutions and streamline the process of tracking academic progress.
Delhi High Court Judgement on Capital Gains Tax Exemption under Section 54F

1 month ago | taxconcept.net | Radhika Goyal

The case revolves around a widow who reinvested the money obtained from the sale of an inherited plot of land in Jaipur into two residential flats in Noida, Uttar Pradesh. She sought capital gains tax exemption under Section 54F of the Income Tax Act but faced challenges at various levels of the tax adjudication system, ultimately approaching the Delhi High Court. Taxpayer: A widow who inherited a plot in Jaipur after her husband’s demise in 2005.
Bengaluru: Income Tax Raids on Prestige Group Over Alleged Tax Evasion

1 month ago | taxconcept.net | Radhika Goyal

Income Tax (I-T) officials conducted raids on four locations of Prestige Group, a prominent real estate developer in India, on Tuesday morning as part of an investigation into alleged tax evasion. The raids targeted the group’s head office situated on Brunton Road near MG Road, alongside other sites in Shivaji Nagar. Approximately 50 I-T officials arrived at the locations simultaneously in multiple vehicles.
Understanding Capital Gains Exclusions for the Rs 12 Lakh Income Tax Rebate: Insights from CBDT

2 months ago | taxconcept.net | Radhika Goyal

In her Budget Speech for 2025, Finance Minister Nirmala Sitharaman made a notable announcement regarding income tax: there will be no income tax payable on an annual income up to Rs 12 lakh, excluding special rate income such as capital gains. This announcement has led to certain confusions among taxpayers, particularly regarding the treatment of capital gains and how they affect one’s eligibility for tax rebates.
BIMA-ASBA Framework A New Approach to Insurance Claim Settlements

2 months ago | taxconcept.net | Radhika Goyal

The new BIMA-ASBA framework introduced by the Insurance Regulatory and Development Authority of India (IRDAI) is designed to significantly improve the insurance premium payment process and, in doing so, address issues related to unclaimed amounts. BIMA-ASBA, is set to revolutionize insurance premium payments and significantly reduce the mounting problem of unclaimed funds within the sector.
Big Changes in New Direct Tax Code 2025

2 months ago | taxconcept.net | Radhika Goyal

The Indian government is introducing a new Direct Tax Code in 2025 to simplify and update the existing income tax laws. Here’s a summary of the key changes: Overall Structure and Goals:Simplification: The new code aims to make tax laws easier to understand and comply with by using clearer language and reducing the number of sections and schedules. Reduced Litigation: The goal is to minimize disputes by clarifying provisions and streamlining processes.