CAclubindia Articles

NRI Gift from Brother-in-law Held Exempt under Section 56 - ITAT Kolkata Allows Assessee's Appeal

CA Jaydeep Babubhai Vadher 13 December 2025 at 06:52

The Kolkata ITAT has ruled that a gift of Rs 80 lakh received from a brother-in-law qualifies as exempt under section 56(2)(vii) of the Income tax Act. The Tribunal held that gifts from specified relatives cannot be taxed merely due to doubts over the donor's source of funds, reaffirming that such enquiries must be made in the donor's hands, not the recipient's.

Why Mexico Is Targeting Indian Product By Imposing 50% Tariff?

Mitali 12 December 2025 at 14:02

Why has Mexico raised import duties on India to 50%? Here’s the full explanation and impact on key sectors.

Railways Terminated 3.02 Crore Suspicious IDs for Ticket Booking: Why?

Ayush 12 December 2025 at 12:46

Indian Railways is cracking down on ticket fraud with strong measures like Aadhaar-based OTP verification, anti-bot technology, and the deactivation of 3.02 crore suspicious user IDs.

Anger Management Part IV: From Self-Control To Social Grace

Raj Jaggi 12 December 2025 at 09:30

Discover how calmness transforms into true leadership through trust-based delegation, perspective-shifting, and purposeful redirection of energy. Part IV of this series explores advanced emotional intelligence practices that help turn anger into clarity, strengthen teamwork, and inspire composed, impactful leadership in both professional and personal life.

Maximize Your Property Profits: A Guide to Section 54EC Bonds

CA.Sangam Aggarwal 12 December 2025 at 06:48

Learn how Section 54EC Bonds (now Section 85 under the Income Tax Act, 2025) help you legally save tax on long-term capital gains from land or buildings.

RBI's Masterstroke: How Granting SRO Status to FIDC Will Reshape NBFC Governance

Affluence Advisory 12 December 2025 at 06:48

RBI's move to grant SRO status to the Finance Industry Development Council (FIDC) marks a major shift in NBFC regulation.

Misused Rs 76,777 Credit Card But Delhi HC Forces Bank to Pay Victim Rs 1 Lakh

Mitali 11 December 2025 at 17:45

Delhi High Court has ruled in favour of advocate Sarwar Raza in a major credit card fraud case, directing Citibank to pay Rs 1 lakh for harassment after fraudsters misused his card for Rs 76,777.

How Long Must You Keep Your Books Of Accounts Under GST

Raj Jaggi 11 December 2025 at 10:05

A comprehensive guide to GST record-keeping under Sections 35 & 36 and Rules 56–58, covering documentation, retention timelines, compliance duties, and audit implications.

Complete Guide to Shop and Establishment Act Registration in India

Kapil kumar 11 December 2025 at 07:02

Get a complete guide to Shop and Establishment Act Registration in India - its importance, eligibility, documents, process, validity, and compliance requirements.

Arbitration and E-Adjudication: The MCA's New Push for Faster Dispute Resolution

Affluence Advisory 11 December 2025 at 07:02

Explore the MCA’s Companies (Adjudication of Penalties) Amendment Rules, 2024, introducing a new e-Adjudication platform to digitize penalty proceedings and enhance corporate compliance.