ROC Chandigarh penalised a company and its directors after finding that financial statements and Board Reports were not approved through Board resolutions as required under Section 179(3). The order held that continued non-compliance attracted penalties under Section 450 of the Companies Act.
ROC Chandigarh penalised a company and its directors for not filing financial statements from FY 2017-18 to 2022-23 within the statutory timeline. The order held that continuous default under Section 137 attracted penalties under the Companies Act, 2013.
ROC Chandigarh penalized a company and its directors under Section 92(5) of the Companies Act for non-filing of annual returns from FY 2017-18 to 2022-23. The directors were each fined the maximum penalty permitted under the law.
The article explains how GST composition scheme, exemption rules, and time of supply provisions work in practice. It highlights common compliance mistakes that often lead to GST notices and interest demands.
The GST Invoice Management System (IMS) promises stronger ITC reconciliation, fraud prevention, and invoice-level transparency. However, businesses may face higher compliance costs, vendor dependency, and litigation risks due to increased procedural requirements.
The updated ITR-1 form for AY 2026-27 expands eligibility to taxpayers with up to two house properties and limited equity LTCG reporting. The guide explains the revised rules, filing steps, and key precautions for smooth return filing.
The article summarizes important notifications, circulars, judicial rulings, and regulatory changes issued between 11–17 May 2026. It covers major developments across Income Tax, GST, Customs, DGFT, SEBI, RBI, and IBBI.
The article explains the tax implications of domestic and international holidays under the Income Tax Act, 2025. It highlights rules relating to Leave Travel Allowance, TCS on overseas travel, and taxation of company-sponsored vacations.
The article examines how denying ITC to genuine buyers due to supplier tax default creates constitutional and commercial concerns under GST law. It argues that compliant recipients should not be penalized for failures beyond their control.
The article explains how increasing life expectancy, better health, and corporate demand for experienced leadership are driving growth in advisory services. It highlights why businesses prefer retired experts for strategic guidance and stability.
