The Orissa High Court examined whether tax could be demanded after reversal of the disputed ITC. It held that raising a fresh demand for the same amount amounts to double taxation and is without authority of law.
The Rajasthan High Court examined whether GST registration could be refused due to non-filing of returns in another State. It held that a taxpayer treated as a defaulter for GST non-compliance can be denied registration elsewhere.
GST liability depends on the category of prize money received. The key takeaway is that betting, horse racing, lotteries, casinos, and online money gaming are now taxable as specified actionable claims.
The Income Tax Act, 2025 expressly includes maternal as well as paternal lineal ascendants and descendants in the definition of relative. The key takeaway is that gifts from maternal grandparents and similar relatives now clearly qualify for tax exemption.
The guide explains how residents can avoid double taxation through DTAA benefits, Foreign Tax Credit, and Section 91 relief, outlining TRC, Form 67, FTC limits, filing requirements, and key compliance rules.
Distribution of assets on total or partial partition of an HUF is not regarded as a transfer under the Income-tax Act. The key takeaway is that neither capital gains tax nor gift tax generally arises on such partition.
A common myth suggests employees must work 12-hour shifts under the new Labour Codes. The reality is that the 48-hour weekly limit remains unchanged, with flexibility allowed only subject to statutory safeguards.
Transfer of a live and functional business as a going concern qualifies as an exempt supply under GST. The key takeaway is that business continuity, not mere asset transfer, determines eligibility for exemption.
The article explains how borrowing within your affordability and understanding total loan costs can make loan management easier. It highlights practical strategies for maintaining financial discipline and avoiding repayment stress.
The Supreme Court held that individuals investing for financial returns rather than home ownership cannot invoke Section 7 of the IBC. The ruling reinforces that insolvency proceedings are not meant for debt recovery or investment disputes.
