The depreciation provisions applicable from Tax Year 2026-27 have undergone a significant structural change. With the enactment of the new Income-tax Act, 2025, all depreciation provisions previously governed under Section 32 of the Income-tax Act, 1961 have been consolidated and re-enacted under Section 34 of the new Act. The rates, however, remain largely unchanged, ensuring […]
The issue concerned release of ₹58 lakh seized during GST search. The Court disposed of the petition after authorities agreed to release the amount within ten days, while allowing further legal action if required.
The case examined whether a dying declaration alone could sustain conviction. The Court upheld life imprisonment, ruling that a medically certified and consistent dying declaration is sufficient proof of guilt.
The MCA has released draft amendments to simplify company incorporation procedures and reduce compliance requirements. The proposal focuses on form consolidation, digital processes, and streamlined documentation.
The content explains how accurate GST records help lenders assess business performance and repayment capacity. It highlights that consistent compliance strengthens loan applications and reduces perceived risk.
CESTAT Chandigarh held that the Air Travel Agents are not required to pay Service Tax on the Commission received by them from CDS/CRS companies. Also held that Air Travel Agents need not include the commission on fuel surcharge in the basic fare for payment of Service Tax.
The Reserve Bank of India issued draft Amendment Directions on April 8, 2026, revising the existing framework for Investment Fluctuation Reserve (IFR) across multiple categories of banks, including commercial banks, co-operative banks, small finance banks, payments banks, and regional rural banks. The draft proposes key changes such as removing the IFR requirement for banks already […]
The draft removes the restriction linked to NPA provisioning for including quarterly profits in CET1 capital. It simplifies capital adequacy calculations while retaining prudential safeguards.
The RBI proposes removing restrictions on including quarterly profits in CRAR calculations linked to NPA provisioning. This move simplifies capital adequacy compliance and improves flexibility for banks.
The Reserve Bank of India has opened public consultation on draft supervisory directions. Stakeholders can comment on completeness and accuracy, though substantive changes are excluded.
