Latest Articles
PF & ESI Disallowance Removed as Income Tax Act 2025 allows Deposit till ITR Due Date
Income Tax : Under the earlier law, even a one-day delay in depositing employee contributions resulted in permanent tax disallowance. The new r...
Section 16(2)(c) of CGST Act: A Constitutional Quagmire & Bona Fide Purchaser’s ‘Catch-22’
Goods and Services Tax : The analysis highlights how GST law forces recipients to pay suppliers within 180 days while still exposing them to ITC denial if ...
Businesses May Face Stricter GST Refund Validation Under New Filing Process
Goods and Services Tax : The article explains how the Government replaced the PDF-based Annexure-B with a structured JSON utility for GST refund applicatio...
Corporate Governance in India: Issues and Reforms
Corporate Law : The paper examines how India’s corporate governance framework, despite strong statutory provisions, continues to suffer from imp...
Transit Anticipatory Bail in India: Legal Procedure, Scope & Challenges
Corporate Law : The article explains how transit anticipatory bail evolved through judicial interpretation to protect individuals facing arrest in...
Latest News
ICSI Flags MCA-21 V3 Portal Issues, Seeks Urgent Compliance Fixes
Company Law : ICSI recommended restoring public access to basic company master data without mandatory login requirements. The representation sta...
Errors in New TDS Challans Under Income Tax Act 2025 Create Compliance Risks
Income Tax : The updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Cabinet Approves ECLGS 5.0 to Support Businesses Hit by West Asia Crisis
Corporate Law : The Union Cabinet approved ECLGS 5.0 to provide guaranteed emergency credit support to MSMEs, non-MSMEs, and airlines facing liqui...
SEBI Proposes OBPP Reforms to Ease Business and Expand Product Offerings
SEBI : The consultation paper proposes allowing OBPPs to offer products regulated by IFSCA. It aligns with broader efforts to enhance cro...
SEBI Proposes Extending Early Pay-In Benefit to Options Due to Stakeholder Demand
SEBI : The consultation paper issued by Securities and Exchange Board of India seeks public comments on a draft circular proposing to ext...
Latest Judiciary
Bakery Products Sold Without Preparation Are Supply of Goods Under GST: Gujarat AAR
Goods and Services Tax : The Gujarat AAR ruled that pizzas, pasta, salads, shakes, and similar items prepared or blended at bakery outlets upon customer or...
GSTAT Rejects Mechanical Price Comparison as DGAP Compared Average & Actual Prices Arbitrarily
Goods and Services Tax : GSTAT noted inconsistencies in the DGAP’s findings regarding whether the Respondent had actually increased base prices after GST...
Anti-Profiteering Allegations Rejected Because Entire Works Contract Was Executed After GST Implementation
Goods and Services Tax : The Tribunal noted that the Applicant repeatedly failed to appear or file objections despite multiple opportunities being granted....
Section 271C Penalty Deleted as Proceedings Were Barred by Section 275(1)(c) Limitation
Income Tax : ITAT Raipur held that penalty proceedings initiated after unreasonable delay violated the statutory limitation prescribed under Se...
Section 263 Revision Invalid as AO Already Examined Accumulated Fund Utilization: Bombay HC
Income Tax : Bombay High Court held that revisionary powers under Section 263 cannot be invoked where the Assessing Officer had already conduct...
Latest Notifications
ROC Mumbai imposed penalty for Holding Two DINs
Company Law : ROC Mumbai imposed penalty for possessing duplicate Director Identification Numbers in violation of Section 155. The ruling highli...
Company Penalized as DIR-12 for Director Cessation Was Filed After 2721 Days
Company Law : ROC Delhi held that failure to regularize an Additional Director at the next AGM violated Section 161(1) of the Companies Act. Sin...
ROC Imposed Penalty for failure to report cessation of Additional Director
Company Law : The ROC found that the company failed to timely record cessation of an Additional Director whose office had automatically vacated ...
ROC Imposes Penalty for Wrong Company Secretary Membership Number in DIR-12
Company Law : ROC Mumbai held that even clerical mistakes in DIR-12 can attract penalty under Section 450 when incorrect information is certifie...
CBIC Clarifies Safeguard Duty Exemptions as Importers Must Declare INFO Codes in Bill of Entry
Custom Duty : CBIC Circular No. 23/2026-Customs introduces mandatory INFO_CD declarations for claiming safeguard duty exemptions on steel import...
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FAQs
The update addresses regulatory relief for NBFCs without public funds or customer interface. It allows eligible entities to operate without registration while ensuring continued oversight and compliance safeguards.
The issue concerns regulatory burden on smaller NBFCs without systemic risk exposure. The RBI introduced exemption for such entities under “Unregistered Type I NBFCs.” The key takeaway is that low-risk NBFCs may operate without registration subject to strict conditions.
The issue concerns delays in pension credit caused by banks. The guidelines mandate 8% interest compensation for such delays. The key takeaway is that banks are accountable for timely pension payments.
The circular addresses uncertainty in FLA reporting FAQs under FEMA. It directs institutions to pause action until regulatory clarity is achieved, ensuring compliance consistency.
RBI clarified that the Digital Rupee is legal tender with features similar to physical cash. It enables secure, instant, and fee-free transactions through digital wallets.
