Latest Articles
Tenants Cannot Gain Ownership Through Long-Term Occupancy: SC
Corporate Law : The Court clarified that tenancy does not convert into ownership, even after decades of occupancy. Adverse possession cannot apply...
Mere TDS Deduction Year Doesn’t Decide Year of Income Taxability: ITAT Delhi
Income Tax : The Tribunal held that income is taxable in the year it accrues, not in the year TDS is deducted by the payer, rejecting addition ...
ALV Must Be Limited to Actually Let-Out Portion ITAT Delhi
Income Tax : The Tribunal ruled that only the part of a property actually rented can be assessed for ALV, excluding self-occupied areas under S...
Cybersecurity Compliance Audits: Fastest Growing Niche for CAs
CA, CS, CMA : With data breaches on the rise and India’s data protection law in force, CAs can leverage their audit expertise in cybersecurity...
Double Taxation Relief: Rules and Benefits in India
Income Tax : Learn how Indian residents can claim relief from double taxation through DTAA and Section 91. Understand Foreign Tax Credit rules,...
Latest News
Government Prioritizes Affordable Healthcare Through GST and Duty Cuts
Goods and Services Tax : The Union Minister announced major GST and duty reductions on medicines and medical devices to make treatments more accessible and...
Direct Tax Collections Rise 7% to ₹12.92 Lakh Crore in FY 2025-26
Income Tax : Net direct tax collections grew by 7% year-on-year, driven by higher corporate and non-corporate tax inflows and a reduction in re...
SEBI Draft on Pro-Rata Rights of AIF Investors
SEBI : SEBI issues draft circular for public comments on clarifications and modalities to maintain pro-rata rights of investors in Altern...
ICSI Second Bi-Annual Northern Region Convocation of FY 2025-2026 on Nov 27
CA, CS, CMA : ICSI to hold its Northern Region Convocation on Nov 27, 2025, in New Delhi for new members and awardees. Registration closes on No...
IBBI Paper on Beneficial Ownership & Section 32A Affidavit by PRA
Corporate Law : IBBI seeks comments on draft templates for Prospective Resolution Applicants (PRAs) to disclose beneficial ownership and Section 3...
Latest Judiciary
Consolidated GST Proceedings for Multi-Year ITC Fraud Permissible: SC
Goods and Services Tax : Supreme Court upheld Delhi HC ruling that email sent to registered GST address is valid service; consolidated ITC notice for multi...
Consolidated GST Notices against Fraudulent ITC for Multiple Years Valid: Delhi HC
Goods and Services Tax : The Delhi High Court held that notices sent to a GST registrant’s registered email constitute valid service, rejecting claims th...
Section 271(1)(c) Penalty Deleted, No Substantial Question of Law: Bombay HC
Income Tax : Bombay High Court held that once appellate authorities delete a penalty under Section 271(1)(c), no substantial question of law ar...
No Service, No Agency, No Tax: Mere Sale of Land Outside Service Tax Net – SC
Service Tax : The Supreme Court held that land acquisition and sale agreements do not constitute taxable “real estate services,” dismissing ...
ITAT Delhi Deletes ₹68 Cr TP Adjustments: Projections Cannot Be Replaced with Actuals
Income Tax : Delhi High Court held that tax authorities cannot replace projected business valuations with actual results when assessing transfe...
Latest Notifications
IBBI Disciplinary Action Deferred as Issues Pending Before NCLT
Corporate Law : The IBBI deferred disciplinary proceedings against an insolvency professional after finding that related matters were still pendin...
Insolvency Professional Suspended for Improper CoC Formation
Corporate Law : IBBI suspended an insolvency professional for including a related party in Committee of Creditors, violating Section 21(2) of Inso...
DGFT Clarifies Redemption of Advance Authorisations Affected by Rule 96(10)
DGFT : DGFT confirms that EODCs will not be withheld for AAs impacted by old Rule 96(10) if IGST was paid or pre-import conditions were m...
IFSCA Expands BAL Reporting to Include Vostro Accounts
Finance : IFSCA mandates IFSC Banking Units to report balances in foreign currency Vostro accounts of overseas banks in the fortnightly BAL ...
ROC Fines Company for failing to maintain consecutively numbered Minutes
Company Law : The ROC Kanpur imposed penalties for not maintaining consecutively numbered minutes, holding it as a breach of Section 118(11) and...
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FAQs
Advance rulings clarify tax liability for specific transactions. They are binding on taxpayers and authorities. Applications require fees based on transaction size, up to Rs. 10 Lacs, payable via demand draft. The Authority for Advance Rulings is replaced by the Board for Advance Rulings (BAR).
Understand key provisions of advance tax under the Income Tax Act — who is liable, due dates, revision of estimates, payment procedure, capital gains treatment, TDS credit, Form 28A requirements, and computation rules.
Know about Statement of Financial Transaction (SFT) or Reportable Account under Section 285BA — entities liable to file, reportable transactions, due dates, penalties, and compliance procedures.
Learn about Permanent Account Number (PAN), its structure, mandatory usage, eligibility, linking with Aadhaar, application process, penalties, and consequences for non-compliance under the Income Tax Act.
Know about TAN under Section 203A of the Income Tax Act—its purpose, applicability, application process, forms, penalties, and key rules for TDS/TCS deductors and collectors in India.
