The new tax regime, introduced to simplify taxation with lower rates, comes with a trade-off: fewer deductions. However, for FY 2025-26, there are some significant updates that make it even more appealing for many taxpayers.
Understand preferential issue rules under the Companies Act and SEBI ICDR Regulations, covering definitions, eligibility, pricing, disclosures, and allotment procedures for listed entities.
Diagnostic services by clinical establishments remain exempt from GST. Know scope, compliance, and key circulars defining healthcare service exemptions.
Gujarat High Court rules against denying ITC refund for inverted duty structure based on application filing date. Circulars cannot retrospectively override statutory rights or create artificial classes.
Analysis of the New Income Tax Act 2025 highlights omissions: problematic TDS on partner income, retention of harsh assessment clauses, and lack of clarity on grievance and appeal timelines.
Rule 86B imposes restrictions on the use of the Input Tax Credit (ITC) for discharging GST liability. It mandates that taxpayers must use a minimum of 1% of their tax liability to be paid in cash, irrespective of the ITC balance available in their electronic credit ledger. This rule was introduced to curb fraudulent activities.
Explore key regulations for importing goods and services into India under FEMA 1999 and RBI guidelines, covering payment terms, compliance, and roles of banks and importers.
The Delhi High Court confirmed that a defendant’s right to file a written statement is forfeited after 120 days. It upheld a decree for the recovery of an advance payment in a supply dispute, citing the absolute nature of CPC timelines.
AAR rejects application seeking ruling on ITC error and refund, holding both queries fall outside Section 97(2) of CGST Act, 2017.
Delhi ITAT rules India-Hong Kong DTAA exchange of information clause not retrospective, quashing assessments beyond limitation period in Sanjay Jain Vs DCIT case.
