The NCLAT allowed the Extraordinary General Meeting (EOGM) to proceed but directed that any resolution passed at the meeting should not be implemented until the NCLT decides the pending company petition.
This FAQ guide explains the applicability of ITR forms, filing methods, due dates, penalties, and taxpayer obligations for AY 2026-27. It also clarifies revised, belated, and updated return provisions to help ensure accurate compliance.
The Karnataka High Court ruled that the time limit for filing a waiver application under Section 128A is directory, not mandatory. It held that delay alone cannot justify rejection of an application seeking waiver of GST interest and penalty.
SEBI has proposed a comprehensive overhaul of its Master Circulars to reduce compliance costs and simplify regulatory requirements for exchanges and clearing corporations. The reforms include consolidation of circulars, fewer reporting obligations, and streamlined operational norms.
SEBI has proposed significant changes to trading software and IT regulations by merging overlapping provisions and removing obsolete requirements. The consultation paper focuses on modernizing regulatory compliance and improving operational efficiency.
IFSCA has proposed comprehensive regulations governing Mutual Insurers and Protection & Indemnity Clubs in IFSCs. The draft establishes registration, governance, solvency, and compliance requirements to strengthen India’s international insurance ecosystem.
CBIC has designated a common adjudicating authority for multiple customs show cause notices involving related noticees. The notification aims to ensure consistent and coordinated adjudication under the Customs Act, 1962.
The NCLT held that any registered member can seek restoration of a struck-off company under Section 252(3), irrespective of the extent of shareholding. It directed restoration after finding the application maintainable and within limitation.
NCLT Mumbai allowed the first motion application for the merger after noting the secured creditors’ consent and dispensed with their meetings. It directed meetings of equity shareholders and unsecured creditors before further consideration of the Scheme.
This guide explains how taxable income and tax liability are computed under the Income-tax Act, from Gross Total Income to the final tax payable. It also covers deductions, rebates, surcharge, cess, and prepaid tax adjustments.
