The dual system operated under the provisions of the Income Tax Act, 1961. Section 3 of the Act defined the “previous year” as the financial year immediately preceding the assessment year or, in certain cases, the period commencing from the start of a business until the end of that financial year. Section 4, being the charging provision, stipulated that income tax would be levied on…
India is entering a transformative phase in its taxation journey, with the Income Tax Act, 2025 ushering in a more modern and streamlined regulatory framework. In an increasingly complex economic environment, tax systems must evolve not only to keep pace with change but to actively enable progress. India’s direct tax framework, shaped over decades through incremental amendments, has long required structural simplification to remain aligned…
The CGST Delhi East Commissionerate’s recent GST Registration Campaign 2025 has raised the bar for taxpayer engagement. Held over two-days in some of Delhi’s busiest market, the initiative not only drove new GST registrations but also aimed to reshape how business perceive GST officers – from enforcers to enables. For years, tax assessments and compliance checks have carried a reputation of being complicated, intimidating, and…
