Latest Articles
FEMA Section 9 Explained: Key Exemptions on Foreign Exchange Retention & Repatriation
Fema / RBI : This article explains how Section 9 exempts certain foreign exchange holdings from repatriation duties. The key takeaway is that R...
Analysis of Notifications & Circulars for Week ending 11th January 2026
CA, CS, CMA : Income tax exemptions, GST clarifications, and penalty rulings dominated the week. Courts and authorities reinforced substance ove...
How Bank Employees Can Claim Refund of Leave Encashment Tax Paid Before 01.04.2023 (Section 10(10AA) ₹25 Lakh Limit)
Corporate Law : This article explains the revised ₹25 lakh exemption limit under Section 10(10AA). The key takeaway is that while the benefit is...
Joint Venture Disputes Between Landowner & Developer Fall Outside RERA Ambit: MPREAT
Corporate Law : Joint Venture Disputes Between Landowner and Developer Fall Outside the Ambit of RERA: MPREAT in Bhopal Development Authority vs. ...
Agricultural Income Taxation in India: Constitutional Framework, Judicial Tests & Practical Realities
Income Tax : This article explains why agricultural income lies outside the Income-tax Act and how constitutional provisions grant exclusive ta...
Latest News
PFRDA (Registration of Pension Funds) Guidelines, 2026
Corporate Law : The guidelines prescribe a structured process for sponsor selection and pension fund registration. The key takeaway is that only f...
ICAI Revises Industrial Training Empanelment Criteria from 1st January 2026
CA, CS, CMA : ICAI has updated the financial and professional eligibility norms for organizations imparting industrial training. The changes aim...
Faceless Assessments Trigger Harassment of Agriculturists Despite Exempt Income
Income Tax : The issue concerns high-pitched additions proposed under faceless scrutiny even where agricultural income is exempt and fully docu...
Trust Registration Renewal Cannot Be Denied for Missing Irrevocable Clause: BCAS
Income Tax : Authorities cannot insist on adding an irrevocable clause in trust deeds for Section 12A renewal when the trust is otherwise legal...
ICAI Launches Mandatory E-Diary to Strengthen Articled Training for CA Students
CA, CS, CMA : ICAI has mandated a digital E-Diary for CA students starting articleship from January 2026. The move standardises training records...
Latest Judiciary
Section 68 Addition Fails Once Identity and Source Are Proved: ITAT Delhi
Income Tax : The Tribunal held that unexplained cash credit addition cannot survive once identity, genuineness, and creditworthiness are establ...
ITAT Hyderabad Dropped Penalties When Compliance Made Before Assessment Ends
Income Tax : The Tribunal held that delayed responses to statutory notices do not attract penalty when full compliance is ultimately made and a...
₹3.49 Cr Cash Seizure Backed by Cash Book & Debtor Realisations: ITAT Deletes Sec 69A Addition
Income Tax : Tribunal held that cash found and seized cannot be treated as unexplained when it is fully reflected in audited books and not disp...
Final assessment order u/s. 143(3) beyond time prescribed u/s. 153 is time barred
Income Tax : ITAT Hyderabad held that final assessment order passed under section 143(3) of the Income Tax Act by AO beyond the time limit prov...
Accused rightly convicted to offence punishable u/s. 138 of NI Act as ingredients duly satisfied
Corporate Law : Himachal Pradesh High Court held that since all the ingredients of commission of an offence punishable u/s. 138 of the NI Act were...
Latest Notifications
IFSCA Classified Oilfield Equipment Leasing as Financial Product
Finance : The regulator has formally recognized operating and hybrid leases of oilfield equipment as financial products. This brings such le...
PFRDA Allows Subscriber Data Sharing for NPS Multiple Schemes
Corporate Law : The circular permits CRAs to share subscriber details with Pension Funds under the MSF framework. The key takeaway is that data sh...
Delay in Filing Special Resolution Triggers Penalty Under Companies Act
Company Law : The registrar imposed penalties for a 212-day delay in filing Form MGT-14. Subsequent compliance did not absolve liability under S...
Companies Penalised for Ignoring Statutory Woman Director Mandate
Company Law : The registrar penalised a company for failing to fill a woman director vacancy within the statutory timeline. The ruling reinforce...
Penalty Imposed for Not Disclosing Director Change in Annual Return
Company Law : The registrar penalised a company and its directors for failing to disclose a director’s regularisation in the annual return. Th...
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FAQs
RBI clarified how cheque truncation and continuous clearing speed up settlements by using electronic images instead of physical cheques. The FAQs outline timelines, safeguards, and customer responsibilities.
The FAQs mandate separate natural persons for key compliance roles and bar delegation to parent entities. This strengthens accountability within IFSC-based regulated entities.
The FAQs confirm that cess is computed on maximum rated machine speed rather than actual production. This ensures certainty in tax liability regardless of utilisation levels.
The FAQs clarify how excise duty on chewing tobacco, jarda, and gutkha will be levied based on packing machine capacity rather than actual production. Manufacturers must comply with strict declaration, verification, and payment rules from 1 February 2026.
The FAQs clarify how the 50% wage rule increases gratuity and leave liabilities and why these changes must be treated as past service costs under accounting standards.
