Database mismatches can wrongly deactivate PAN for NRIs, resulting in higher tax withholding and significant capital blockage during property transactions.
High revenue alone cannot ensure stability. This article explains why founders must monitor cash forecasts, unit economics, and working capital to avoid liquidity crises and ensure scalable growth.
The rise of AI-generated influencers and synthetic commercial actors is testing identity-based tax systems. The article explains how deepfakes complicate income attribution, GST compliance, and enforcement mechanisms.
The Bombay High Court held that failure to furnish a lender’s certificate cannot justify reopening of assessment for a let-out property. It clarified that the certificate requirement under Section 24(b) applies only to self-occupied properties.
ITC on bikes and scooters is blocked if used for passenger transport under Section 17(5)(a) of GST. Credit is allowed only in limited cases such as passenger transport, resale, or driving training.
Tax authorities initiated scrutiny and proposed addition solely because share acquisition details were not properly disclosed in the ITR. The case reinforces that for directors, the ITR functions as a detailed disclosure document, not just a salary return.
The government has limited RoDTEP benefits to 50% of existing rates and value caps with immediate effect. The notification amends Appendix 4R and 4RE under the Foreign Trade Policy 2023.
RBI amended FEMA regulations to require a Currency Declaration Form when foreign exchange carried by passengers exceeds prescribed limits. The rule improves transparency in cross-border currency movement.
Apply now! Bank of Maharashtra seeks Chartered Accountants’ firms for FY 2025-26 Concurrent/Revenue Auditors. Apply online by 01.03.2025 (5.00 PM).
The High Court quashed an assessment order passed without granting personal hearing despite a written request. It held that refusal on technical grounds violated principles of natural justice.
