Eligible individuals, non-corporate taxpayers, and senior citizens can avoid TDS on specified incomes by furnishing Form 15G or Form 15H when prescribed conditions are met. The rules also mandate UIN allotment, quarterly reporting, and seven-year record retention by the payer.
Resident individuals, eligible non-corporate taxpayers, and senior citizens can avoid TDS on specified incomes by furnishing Form 15G or Form 15H where prescribed conditions are satisfied. The rules also require quarterly reporting, UIN allotment, and seven-year preservation of declarations by the payer.
Equalisation Levy, initially imposed on online advertisements and later extended to e-commerce transactions, ceases to apply from AY 2026-27 due to the sunset clause introduced by the Finance (No. 2) Act, 2024. The amendment ends the 2% levy on e-commerce supplies and services for consideration received on or after 1 August 2024.
The pharmaceutical business in India is one of the most sensitive and highly regulated sectors because it deals directly with medicines, healthcare products, public safety, and human life. Whether a business wants to open a medical store, start a wholesale medicine distribution business, manufacture pharmaceutical products, or operate a pharmacy chain, obtaining a Drug License […]
The Court examined whether a predicate FIR is necessary before the ED can act under the PMLA. It held that inquiry proceedings and summons under Section 50 can be initiated even without a prior FIR or complaint.
The article explains how Compulsorily Convertible Preference Shares are governed by corporate, tax, and FEMA regulations. The key takeaway is that accurate valuation is critical to satisfy both regulatory and tax requirements.
The article examines cases where GST appeals filed beyond statutory timelines were revived through writ jurisdiction. The key takeaway is that constitutional courts may intervene to prevent gross injustice.
The ruling held that a State acting only as a transit corridor lacks jurisdiction over goods moving between other States when statutory documents are in order. The key takeaway is that complete Section 68 compliance strengthens the challenge against detention.
While permitting extensive investigations, the Court has clarified that allegations alone do not establish criminal liability. Any determination of guilt must be made through the judicial process after evidence is examined.
The Gujarat High Court examined whether a taxpayer’s selection of “No” for personal hearing could override the statutory requirement under Section 75(4). It held that the authority must still provide a hearing before passing an adverse order.
