The new Income Tax Act largely retains existing TDS rules on property transactions but significantly simplifies compliance for buyers, especially in transactions involving non-residents.
The article explains how unusually flawless records may signal a managed presentation rather than genuine business performance, requiring auditors to apply greater professional scepticism.
Common errors in e-invoicing and e-way bill generation can trigger penalties, detention of goods, denial of ITC, and increased GST scrutiny. Businesses must ensure accurate compliance.
The High Court held that a company cannot shift its registered office after approval of a resolution plan when appeals against the plan are still pending before the NCLAT. The statutory embargo under Rule 30(9) must be strictly followed.
This update compiles key statutory deadlines across multiple laws for June 2026. It highlights filing requirements under income tax, GST, FEMA, and company law. The takeaway is a complete roadmap for timely compliance.
Small transport operators owning up to 10 goods vehicles can avail presumptive taxation, TDS exemption, and reduced compliance requirements under the Income Tax Act.
Resident and Ordinarily Resident taxpayers holding foreign assets or earning foreign income must disclose details in Schedule FA. Failure to comply can lead to severe penalties and scrutiny under tax laws.
Section 158 makes quoting Director Identification Number (DIN) mandatory in statutory filings. Non-compliance can lead to substantial penalties and continuing default consequences under Section 172.
Family members actively working in a business without proper remuneration or tax reporting may create inconsistencies in ITRs, AIS, and banking records. Proper documentation and reporting help reduce tax compliance risks.
This article explains when taxpayers can avoid penalties under GST Section 73 by paying tax and interest at the right stage. Learn the timelines that provide complete relief from penalty in non-fraud cases.
