The Finance Bill, 2026 fixes an incorrect reference in section 393 on TDS for property sales. The correction ensures the ₹50 lakh threshold applies to the correct provision.
The amendment clarifies that minor defects in quoting the DIN will not invalidate assessments. As long as the order references a computer-generated DIN in any manner, procedural lapses will not defeat otherwise valid proceedings.
The tribunal ruled that cash deposits sourced from recorded cash sales and bank withdrawals were genuine. It held that partial, ad-hoc additions without rejecting books of account are unsustainable.
Budget 2026 introduces a long-term tax holiday and safe harbour to attract global cloud players to India. The key takeaway is that India is being positioned as a preferred global cloud delivery hub.
The article explains different categories of directors based on roles, powers, and appointment. It highlights how governance balances control, oversight, and accountability.
The Union Budget 2026–27, guided by the vision of Viksit Bharat, prioritises inclusive growth, ease of compliance, and trust-based governance without altering income-tax slabs under the new regime. Direct tax proposals focus on rationalisation—extending due dates for employee PF/ESI deductions to the return filing date, exempting interest on Motor Vehicles Act compensation from tax and […]
Indian tax liability for NRIs depends on residential status, not citizenship. The key takeaway is that only India-sourced income is taxable for non-residents.
The Budget keeps tax rates unchanged while introducing structural reforms to improve certainty and predictability. The key takeaway is stability paired with targeted simplification to reduce disputes.
Courts have held that reopening an assessment on identical facts under a different deeming provision is invalid. The key takeaway is that reassessment cannot be based on a mere change of opinion.
The regulator has required IFSC finance companies serving external clients to maintain a website. The move aims to enhance transparency and consumer awareness.
