Budget 2025 highlights income tax changes, revised tax slabs, TDS amendments, IFSC incentives, updated return filing limits, and deductions under NPS & savings schemes.
Madras HC denies ITC claims in Devi Traders case, citing lack of e-way bills and transport documents. Court emphasizes taxpayers’ burden to prove goods receipt for ITC eligibility.
Input tax credit (ITC) claims under GST are proving challenging for taxpayers. Stringent conditions, supplier issues, and court rulings create uncertainty. Proper documentation is crucial for businesses to avoid penalties and ITC rejection.
ITAT Kolkata rules that cash withdrawals from a bank account cannot justify reassessment. The assessment was quashed, confirming the taxpayer’s right to use their funds.
NFRA inspection of PwC firms (PWCA & PW& Co CA) reveals deficiencies in related party transaction verification and documentation, raising concerns about audit quality.
Board resolution for altering the object clause and calling an EGM. Includes approval process, necessary amendments, and compliance with legal requirements.
A Practicing Company Secretary ensures legal compliance, corporate governance, and advisory roles in businesses. Learn about their services and representation powers.
The GST Amnesty Scheme under Section 128A offers a waiver of interest and penalties on tax demands for FY 2017-18 to 2019-20. Learn about key deadlines and rules.
The Income Tax Bill 2025, set to replace the 1961 Act, redefines the role of Chartered Accountants in tax compliance and representation, effective from April 1, 2026.
Madras High Court held that once the purchase of machinery itself was found to be false and the transaction was sham, the claim of depreciation cannot be sustained. Appeal dismissed, accordingly.
