Latest Articles
Section 10, 11 and 12 of CGST Act, 2017
Goods and Services Tax : The article explains how GST composition scheme, exemption rules, and time of supply provisions work in practice. It highlights co...
Is IMS a Boon or a Bane for Taxpayers?
Goods and Services Tax : The GST Invoice Management System (IMS) promises stronger ITC reconciliation, fraud prevention, and invoice-level transparency. Ho...
Step to Step guide for filing ITR-1 (SAHAJ) for AY 2026-27
Income Tax : The updated ITR-1 form for AY 2026-27 expands eligibility to taxpayers with up to two house properties and limited equity LTCG rep...
Analysis of Notifications & Circulars for Week Ending 17th May 2026
CA, CS, CMA : The article summarizes important notifications, circulars, judicial rulings, and regulatory changes issued between 11–17 May 202...
Leave Travel Allowance (LTA) exemption: What Every Taxpayer Should Know
Income Tax : The article explains the tax implications of domestic and international holidays under the Income Tax Act, 2025. It highlights rul...
Latest News
RTI Filed Seeking Mamata Banerjee’s Advocate Enrolment & Practising Status Before BCI
Corporate Law : An RTI application sought details regarding enrolment, certificate of practice, and practising status under the Advocates Act, 196...
CCPA Penalises Coaching Institutes for misleading advertisements
Corporate Law : The CCPA imposed penalties on coaching institutes after finding that advertisements highlighted successful candidates while hiding...
IRDAI Reviews Insurance Sector Growth, Approves Drafting of New Regulations Under SBSR Act, 2025
Corporate Law : IRDAI approved in-principle drafting and publication of new and amended regulations following the Sabka Bima, Sabki Raksha (Amendm...
ICSI First BI-Annual Northern Region Convocation of FY 2026-2027
CA, CS, CMA : ICSI announced two Northern Region Convocation sessions on 9 June 2026 in Amritsar, mandating advance registration, identity proof...
Sales Tax Bar Association Seeks Recognition of Multi-Disciplinary Partnerships for Advocates
Corporate Law : The Sales Tax Bar Association has urged the Bar Council of India and the Law Ministry to permit Advocates to collaborate with non-...
Latest Judiciary
ITAT Reduces Section 271(1)(b) Penalty by treating Multiple Notice Defaults as One
Income Tax : The ITAT Visakhapatnam reduced a penalty under Section 271(1)(b) from Rs.30,000 to Rs.10,000 after treating non-compliance with th...
Section 54 Exemption Allowed as Investment Was Made Within 2 Years Despite No CGDS Deposit
Income Tax : ITAT Indore held that Section 54 exemption cannot be denied merely for failure to deposit capital gains in the Capital Gain Deposi...
ITAT Deletes Section 68 Addition Since Opening Loan Balances Cannot Be Taxed Again
Income Tax : The Delhi ITAT held that opening balances of unsecured loans cannot be treated as unexplained cash credits under Section 68 when n...
Mere Acceptance of Political Donation Addition Doesn’t Justify Penalty
Income Tax : The Tribunal held that mere disallowance of deduction claimed under Section 80GGC does not automatically amount to misreporting of...
ITAT Allows Full ₹10.15 Lakh Leave Encashment Exemption: ₹25 Lakh CBDT Limit Held Applicable
Income Tax : The Tribunal held that the enhanced exemption limit of ₹25 lakh under CBDT Notification No. 31/2023 applies to leave encashment ...
Latest Notifications
ROC Kolkata Penalises Auditor as Depreciation Was Not Charged on Building Assets
Company Law : ROC Kolkata imposed penalty on an auditor after finding that depreciation on building assets was not charged in the financial stat...
Auditor Faces Penalty as Non-Disclosure of ₹37 Crore Investments Was Not Reported
Company Law : ROC Kolkata imposed penalty on an auditor after finding that material investment disclosures required under Schedule III of the Co...
ROC Kolkata Imposes Penalty as Company Failed to File Annual Returns Since FY 2019-20
Company Law : ROC Kolkata penalised a private company and its directors for non-filing of annual returns under Section 92 of the Companies Act, ...
ROC Imposes CSR Penalty for Delay in Transferring Unspent CSR Amount
Company Law : ROC Kolkata penalized a company and its directors for delayed transfer of unspent CSR funds to the Swachh Bharat Kosh. The order h...
DGFT Restricts Import of Silver Bars
DGFT : The DGFT has changed the import status of specified silver bars from “Free” to “Restricted” under ITC HS Codes 71069221 an...
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FAQs
Section 56 of Companies Act, 2013 requires execution of a proper instrument of transfer for transfer of interest of a member in a company not having share capital. Instrument must be executed by or on behalf of both transferor and transferee and delivered to company
ICAI clarified that ITC wrongly reversed under Table 4(B)(1) instead of Table 4(B)(2) can still be reclaimed within statutory timelines. The FAQs explain how taxpayers can rectify such reporting errors through future GSTR-3B adjustments.
The FAQs explain how the 60 Tax Audit assignment ceiling will operate through the UDIN system from 1 April 2026. ICAI clarified which audit forms will count toward the limit and how assignments across firms, branches, and revised reports will be treated.
FAQs on SEBI – IVCA Annual Activity Report (AAR) is Prepared with reference to SEBI (Alternative Investment Funds) Regulations, 2012 and SEBI Master Circular for AIFs dated May 07, 2024. Annual Activity Report (“AAR”) introduced by SEBI in consultation with IVCA is a significant step towards standardized and granular reporting by Alternative Investment Funds (“AIFs”). The […]
The article explains that architectural, accommodation, and related immovable property services are governed by Section 12(3) of the IGST Act. It clarifies that the place of supply is linked to the property location rather than the recipient’s location.
