Section 68 Income Tax

Income Tax

The “Source of Source” Relief: Patna High Court’s Landmark Dec 2025 Ruling
ByKunal Kapoor January 10, 2026January 14, 2026

For years, the most litigated section in the Income Tax Act has been Section 68 (Unexplained Cash Credits). Assessing Officers (AOs) often demand that a taxpayer not only prove the source of the money received (e.g., a loan from Mr. X) but also prove where Mr. X got the money from (the “Source of Source”)….

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Income Tax | Startup

Angel Tax is Gone, But Section 68 is Here: The New Funding Compliance for Startups.
ByKunal Kapoor December 25, 2025December 28, 2025

One of the biggest reliefs for the Indian startup ecosystem in 2025 was the abolition of Angel Tax (Section 56(2)(viib)) effective from April 1st. Startups in Noida, Gurgaon, and Delhi can now raise funds at a premium without the fear of the excess premium being taxed as income. But wait. If you think you no…

Read More Angel Tax is Gone, But Section 68 is Here: The New Funding Compliance for Startups.