This article explains when taxpayers can avoid penalties under GST Section 73 by paying tax and interest at the right stage. Learn the timelines that provide complete relief from penalty in non-fraud cases.
NCLAT held that the order appointing the Resolution Professional under Section 97 was obtained on the basis of misrepresented and non-existent jurisdictional facts relating to the alleged personal guarantee. Accordingly, the impugned order was set aside as void ab initio.
Sections 334 to 338 prescribe a separate taxation framework for registered NPOs. Specified income arising from violations such as anonymous donations, prohibited investments, and misuse of funds is taxable at 30%.
The article explains how labour code reforms have increased retirement-related contributions, reducing immediate take-home salaries. It highlights the need for payroll transparency and employee awareness regarding compensation structures.
The article introduces an advanced tax calculator that automatically compares the old and new tax regimes. It helps employees and payroll teams determine the most tax-efficient option while ensuring accurate tax computation.
The Gujarat High Court ruled that the Supreme Court’s COVID-19 limitation exclusion must be considered while computing timelines under Section 107 of the CGST Act. A GST appeal filed within the extended condonable period cannot be dismissed as time-barred without proper consideration.
The Tribunal held that procurement services provided by a foreign group entity were substantive services rendered on its own account and not intermediary services. As a result, the transaction qualified as import of services and the refund claim was rejected.
The article examines how ATMs are facing cash shortages even though currency circulation is at an all-time high. It argues that banking liquidity stress and inadequate cash supply are emerging as serious economic concerns.
AY 2026-27 requires structured reporting of long-term and short-term gains from shares and mutual funds. Particular attention is needed for shares acquired before January 31, 2018, where scrip-wise reporting remains mandatory.
The guide explains deferred tax assets and liabilities, timing versus permanent differences, MAT implications, measurement rules, and how tax-accounting mismatches affect future tax obligations.
