Explore the legal and financial distinctions between a Sole Proprietorship and a One Person Company (OPC), including liability, taxation, and legal status.
Learn about new business codes (21009, 21010, 21011) for share trading. Understand which ITR form to use and the applicability of Section 44AD for various trading activities.
The ITAT Ahmedabad dismissed the tax department’s appeal, ruling that cash withdrawals of ₹8.89 crore were not unexplained. The tribunal upheld the assessee’s claim that the cash was used for business payments, as the tax officer had accepted the corresponding sales.
A summary of the new Section 194T TDS rule, effective April 1, 2025, for partnership firms and LLPs on payments to partners.
A comparative guide to AS 1 and Ind AS 1, explaining their different focus on accounting policy disclosure and financial statement presentation.
The 56th GST Council meeting will review tax rate rationalisation, insurance premium relief, compensation cess, and compliance reforms under GST 2.0.
The Ministry of Finance has revised the tariff values for imported goods including palm oil, gold, silver, and areca nuts, effective August 30, 2025. This notification updates existing customs valuation tables.
ITAT Patna upholds the deletion of a ₹4.98 crore addition, ruling that purchases are not bogus just because suppliers failed to file returns or respond to tax notices.
ITAT Pune sends a tax case back to the CIT(A), stressing that an assessment on a deceased person is legally invalid. The Tribunal ruled the CIT(A) must first decide on this jurisdictional issue.
The ITAT Cuttack ruled that additions cannot be made for completed assessments without incriminating material found during a search, upholding the principle from the Abhisar Buildwell case.
