The tribunal held that remuneration received by a professional partner qualifies as professional income. The key takeaway is that such receipts can be taxed under Section 44ADA.
This explains when manufacturing companies must undergo cost audit based on turnover thresholds. The key takeaway is that exceeding ₹100 crore overall turnover and ₹35 crore product revenue triggers compliance.
This explains how AI allows auditors to examine entire transaction populations instead of samples. The key takeaway is improved audit accuracy and risk coverage.
This explains why educational institutions are fully covered under FCRA when receiving foreign funds. The key takeaway is that academic status does not exempt institutions from compliance.
This analysis explains how repeated amendments widened the reach of PMLA and strengthened enforcement agencies. The key takeaway is that the Act now impacts a broad range of individuals and professionals.
The tribunal held that cash deposits of a petrol pump operator during demonetisation could not be fully treated as unexplained. Only a lump sum addition was sustained, recognizing the business nature of receipts.
This clarification explains how recovery proceedings are stayed when a taxpayer submits an undertaking and pays the mandatory pre-deposit. The key takeaway is protection from recovery until the GST Appellate Tribunal becomes operational.
The law does not require uploading geo-tagged photographs when adding an additional place of business under GST. The key takeaway is that such demands are procedural, not statutory.
Explains when IT services qualify for 44AD or 44ADA, highlighting classification risk and compliance requirements under the “cash ≤ 5%” rule.
Explains deadlines for belated returns and the updated ITR-U window, helping taxpayers avoid escalating additional tax under section 140B.
