Archive
Income Tax
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Income Tax Act, 2025: A ‘Reform’ Comes to Life
The Income Tax Act, 2025 (IT Act, 2025) – after almost a decade of attempts to redraft income tax law - comes into force on 1 April 2026 and replaces the Income Tax Act, 1961 (IT…
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When A Princess Worried About Tax on Alimony
All things in life have a tax angle, including alimony payments. In this article I elaborate on tax treatment of alimony payments under the Income Tax Act, 1961 (‘IT Act, 1961’). Upfront, these are the three…
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Skeletal Timeline of Income Tax Reform in India
1860-1886: Income tax was introduced in India for the first time in 1860 to overcome the financial difficulties due to First War of Independence of 1857. The period of 1860-1886 saw the Govt alternating between income…
