This article explains how MUDRA loans work, the different loan categories, eligibility, and how small entrepreneurs can access affordable business finance.
Resident taxpayers must report foreign assets and income under Schedule FA, even if tax isn’t affected. Non-disclosure can attract penalties under the Black Money Act, making accurate reporting essential.
The Bombay High Court dismissed an income tax appeal where the disputed claim was below the monetary threshold, highlighting that low tax effect alone can justify disposal when no exception applies.
The issue was duplication and time-consuming reporting in liquidation filings. The revised forms streamline disclosures and enable auto-population to ease compliance.
The issue concerned regulatory handling of restructuring in IFSC units. The instruction clarifies that IFSCA will intimate SEZ authorities to ensure compliance under SEZ law.
Explains the legal situations where suppliers can correct excess GST through credit notes. Highlights that reduction in tax liability is conditional on timelines, ITC reversal, and absence of unjust enrichment.
The Court ruled that issuing an SCN before the pre-SCN reply period expires violates natural justice. The key takeaway is that authorities must allow the full reply window before initiating adjudication.
This overview explains the unprecedented volume of 180 compliances due in January 2026 under tax, corporate, FEMA, GST, SEBI, and labour laws. The key takeaway is the need for proactive planning to avoid defaults and penalties during this high-risk month.
The issue was whether penalties under Section 122 can be initiated independently. Courts have allowed departmental action when linked to substantive proceedings, but the statutory basis remains debated.
The issue was whether inverter components used in electric vehicles could be treated as motor vehicle parts. CAAR ruled that electrical machinery is excluded from Chapter 87, confirming classification under Chapter 85.
