Latest Articles
Special vs General: Time Limit Conflict between Section 144C(13) and Section 153 of Income Tax Act, 1961
Income Tax : Courts are divided on whether the DRP-specific deadline under Section 144C(13) overrides the general assessment time bar in Sectio...
Compliances For Preferential Allotment of Securities Under Companies Act, 2013 & Rules
Company Law : This explains the statutory conditions, approvals, and filings required for issuing securities through preferential allotment unde...
Impairment of Investments – Accounting and Tax Implications
CA, CS, CMA : This explains when investment values must be written down under AS 13 and Ind AS, and why recognising impairment is essential for ...
Foreign Donation to Hospitals & Medical NGOs – FCRA Compliance
Corporate Law : Hospitals and medical NGOs must disclose all foreign grants, equipment, and medicines under FCRA; non-compliance can lead to froze...
SC Lays Down Format For Criminal Judgments & Mandates Tabulated Charts of Evidence
Corporate Law : The Court overturned convictions after finding contradictions, missing proof of possession, tainted recoveries, and unreliable for...
Latest News
ICSI Approves Major Reforms in CS Education and Training Framework
Company Law : The Council cleared changes to CLDP, CSEET, and training programmes. The key takeaway is a stronger, more structured pathway for C...
Shell Companies in West Bengal – Real-Time Systems in Place to Detect Fake Directors & DIN Misuse
Company Law : The government clarified that shell companies are not defined in company law, but inactive entities are removed through statutory ...
Over 1.9 Lakh Companies Struck Off for Non-Compliance Since 2020
Company Law : The government disclosed large-scale strike-offs of inactive and non-compliant companies. The key takeaway is stricter enforcement...
GST 2.0 Structure And Economic Impact
Goods and Services Tax : The Government stated that GST 2.0 simplifies the tax structure to stimulate consumption, investment, and job creation. The key ta...
GST Automation Upheld Due to Reduced Tax Evasion & Higher Transparency
Goods and Services Tax : Higher thresholds, quarterly returns, waived registrations, and faster approvals were introduced to ease MSME compliance. The ruli...
Latest Judiciary
No Further Section 14A Disallowance After Reasoned Suo-Motu Adjustment
Income Tax : The ITAT held that where investments are fully backed by substantial own funds and a rational suo-motu disallowance is made, Rule ...
ITAT Hyderabad quashes final TP assessment as time-barred despite DRP directions
Income Tax : The Tribunal held that limitation under Section 153 overrides the DRP timeline under Section 144C. As the assessment was completed...
Delay in Filing Appeals Condoned Despite Massive Additions and Penalty
Income Tax : While restoring the appeals, the ITAT directed expeditious disposal and warned against avoidable adjournments. The key takeaway is...
Capital Gains Addition Set Aside for Denial of Fair Opportunity
Income Tax : The Tribunal held that an ex-parte capital gains addition could not be sustained where the assessee was denied a meaningful opport...
Rule 10A Not Applicable Due to Absence of Job Work Relationship: CESTAT Mumbai
Excise Duty : CESTAT held that valuation under Rule 10A fails where the department cannot prove that goods were manufactured as job work, reaffi...
Latest Notifications
RBI (Regional Rural Banks – Credit Cards and Debit Cards: Issuance and Conduct) Directions, 2025
Fema / RBI : The RBI has introduced binding norms for RRB credit and debit cards, focusing on consent, transparency, and consumer protection. U...
Customs Tariff Values Revised for Oils, Gold, Silver, and Areca Nuts wef 16.12.2025
Custom Duty : The notification deals with updating tariff benchmarks for oils, metals, and areca nuts. It confirms that customs duty will be lev...
Section 10(46A) Income Tax Exemption Granted to Punjab Urban Planning Authority
Income Tax : This notification clarifies the conditions under which a development authority qualifies for tax exemption. The ruling highlights ...
Section 10(46) Exemption Granted to New Okhla Industrial Development Authority
Income Tax : This notification addresses whether statutory development authorities qualify for income-tax exemption under section 10(46). The k...
RBI (Regional Rural Banks – Credit Facilities) Directions, 2025
Fema / RBI : The Directions unify multiple credit-related instructions into a single framework for RRBs. They reinforce prudential safeguards w...
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FAQs
Entities providing TechFin or Ancillary Services from IFSC must obtain a Certificate of Registration under TAS Regulations, 2025, before starting operations.
ITIRS 2018 encourages citizens to report substantial tax evasion, guaranteeing confidentiality and structured rewards. False reporting is punishable, and irrecoverable taxes are excluded from reward claims.
ITC availed for FY 2023-24 but reversed or claimed in FY 2024-25 must be reported in Table 6A1 of GSTR-9. Reversals from prior years are excluded from Table 7, ensuring accurate reconciliation.
India submits consolidated portfolio investment data to IMF twice a year, covering equity and debt securities, enhancing transparency of cross-border financial holdings.
A comprehensive overview of the revamped TDS structure, detailing how the Act reorganizes withholding rules and clarifies rates, thresholds, and compliance obligations.
