India's direct tax regime is undergoing its most radical transformation in decades with the enforcement of the Income-tax Act, 2025. This reform is not merely a renumbering of forms but a fundamental shift toward a data-driven, transparent compliance ecosystem.

As a general principle, VAT liability - or so called "tax point" - is triggered by the occurrence of a taxable transaction. Specifically, liability arises on the date the sales proceeds are received or when the taxpayer obtains documentary evidence entitling them to such pro...

The year 2026 marks not only the beginning of the 15th Five-Year Plan period but also the decisive starting line for China as it advances towards the fundamental realization of modernization by 2035.