Understand advance tax, its calculation methods, and due dates. Learn about changes affecting partners and exemptions for certain taxpayers. Pay on time to avoid penalties.
Understand the implications of belated income tax return filing, including loss of refund interest, late fees, interest on unpaid tax, and disallowance of losses and deductions.
This summary outlines key legal compliance obligations and updates for June 2025 in India across FEMA, Income Tax, GST, Companies Act, SEZ, STPI, and Labour Laws.
Supreme Court clarifies power to modify arbitral awards under Section 34 in Gayatri Balaswamy case, raising questions on finality, equity, and party autonomy.
SEBI clarifies its forensic auditor empanelment, detailing the transparent application process, eligibility criteria, and reasons for panel size changes.
The Goods and Services Tax Appellate Tribunal (GSTAT) has been constituted with Principal and State Benches to resolve GST disputes. Learn about its structure, jurisdiction, and operational mechanisms.
The ICAI has released an Exposure Draft for revised Forensic Accounting and Investigation Standards (FAIS), aiming to modernize practices and improve quality. Public comments are invited until June 19, 2025.
The Supreme Court recently quashed a Section 498A IPC cruelty case initiated by a woman police officer against her husband, his aged parents, and five sisters, citing concerns about misuse of legal provisions and lack of specific allegations. The Court exercised its powers under Article 142 to set aside the Delhi High Court’s judgment and quash the FIR and chargesheet.
The ITAT Delhi has deleted an addition of Rs. 41.16 lakh made by the tax authorities on cash deposits by Surendra Kumar Gupta, ruling that the source was adequately explained.
Madras High Court stays penalty orders under Sections 270A and 271AAC against Aadhitya Property Developers, pending a decision on the assessee’s belated appeal against the core assessment order.
