Failure to serve notices at the updated registered address invalidates GST proceedings. The Court emphasized strict adherence to proper service requirements and natural justice.
Courts held that investment in under-construction property qualifies as construction under Sections 54/54F. Deduction cannot be denied if investment is completed within the prescribed period, even if started earlier.
RBI has designated Union Bank of India as the Lead Bank for Polavaram and Markapuram districts. The move ensures smooth banking coordination and financial inclusion in newly created districts.
The circular prohibits fiduciaries from providing multiple services to the same scheme to avoid conflicts. It ensures independent oversight and strengthens investor protection.
IFSCA requires PSPs to obtain approval before joining Rupee Drawing Arrangements. The rule ensures strict adherence to AML, KYC, and CTF norms in cross-border payments.
ICAI has widened AQMM coverage to firms auditing group entities of listed companies, banks, and insurers. The move ensures higher audit quality through mandatory compliance and peer review oversight.
CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and loss adjustments for accurate compliance.
The new Act retains the arm’s-length principle but introduces refined definitions, stricter compliance, and enhanced penalties for related-party transactions.
The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoother tax compliance for taxpayers.
CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting and eliminate inconsistencies in tax forms.
