Karnataka High Court held that co-operative society registered under Karnataka Souharda Sahakari Act, 1997 is not required to deduct TDS on interest payments made to its members as per provisions of section 194A(3)(v) of the Income Tax Act.
Understand the GST refund framework for unutilized ITC on zero-rated supplies or inverted duty structures. Learn the distinction between “relevant date” and “relevant period” for filing claims and how misinterpretations impact refunds.
SEBI’s new circular, effective April 1, 2025, outlines the regulatory framework for Specialised Investment Funds (SIFs). This includes eligibility, branding, investment strategies, minimum thresholds, risk management, and disclosure requirements for enhanced investor protection and market transparency.
ITAT Kolkata held that dividend distribution tax u/s 115-O of the Act and interest u/s 115P of the Income Tax Act is applicable only to a domestic company and since appellant is a co-operative society and provisions of section 115-O and 115-P will not be applicable.
Key changes to GST returns are coming. Understand the non-editable GSTR-3B liability, GSTR-1A for corrections, and updated HSN code requirements for B2B and B2C supplies to ensure compliance.
MCA announced rollout of final set of 38 company forms—including 13 Annual Filing and 6 Audit/Cost Audit forms—on its V3 portal, scheduled to go live on 14 July 2025 at 12:00 AM.
Understand the Income Tax Act’s requirements for maintaining business and professional accounts. Learn about essential documents, specific rules for medical professionals, and turnover/gross receipt thresholds for mandatory account keeping.
Free Excel Utility Promises 10-Second Party & Bank Reconciliation A new, free-to-use Excel-based utility is promising to drastically reduce the time and effort required for party ledger and bank reconciliation to a mere 10 seconds. The tool is designed to streamline a typically cumbersome and error-prone accounting task, offering a rapid and accurate solution for […]
Foreign direct investment (FDI) plays a crucial role in a country’s economic development. In India, entities receiving FDI or having outbound investments are subject to various compliance requirements—one such essential filing is the FLA Return (Foreign Liabilities and Assets Return), mandated by the Reserve Bank of India (RBI).
Gujarat High Court held that transfer order passed under section 127 of the Income Tax Act tenable in law since the same is passed after giving proper opportunity of being heard to the petitioner. Accordingly, transfer order upheld and petition dismissed.
