The DA rate for PSU employees has increased by 0.70% based on CPI-IW trends. The calculation shows how inflation impacts salary adjustments. The key takeaway is that DA revisions continue to reflect moderate inflation growth.
Illustrative formats for financial statements of non-corporate entities as per ICAI Guidance Note applicable from FY 2025–26.
The Tribunal held that Section 14A cannot be invoked in absence of exempt income. It clarified that taxable dividend income eliminates the basis for disallowance.
IBBI introduces IVS as the mandatory framework for all valuations under the Insolvency and Bankruptcy Code. The key takeaway is improved transparency and consistency in asset valuation across insolvency proceedings.
The appellate authority held that RTI applications cannot seek interpretations or clarifications on legal issues like treatment of flats in CIRP. Only existing records held by authorities can be disclosed under the RTI Act.
The issue concerns delayed response to an RTI application beyond the prescribed period. It was held that authorities must adhere to timelines and ensure timely disposal of information requests.
Both domestic and import revenues contributed to GST growth, alongside increased refunds. The figures highlight improved tax administration and transparency. It shows a balanced revenue structure.
The IRDAI issued a circular providing clarifications on the implementation of Indian Accounting Standards (Ind AS) by insurers effective from 1 April 2026. It mandates preparation of financial statements under Ind AS with parallel reporting of existing financial information for at least two years to ensure a smooth transition. Insurers must submit quarterly financial statements […]
DGFT shifts multiple jewellery categories from Free to “Restricted” import status under CTH 7113. The key takeaway is that importers must now obtain licenses, with no relief for prior contracts or shipments.
The DGFT has extended its EODC issuance drive until May 31, 2026 to clear pending applications under AA and EPCG schemes. The move emphasizes faster disposal of old and deficient cases while reducing compliance burden on exporters.
