MCA has allowed companies to file Form DPT-3 for FY 2025-26 without additional fees until 31 July 2026 due to disruptions caused by the June 2026 data center fire.
IRDAI has released draft amendments simplifying the registration framework for foreign reinsurers and Lloyd’s India while introducing new compliance requirements. Stakeholders may submit comments on the exposure draft by 10 July 2026.
The Kerala High Court held that merely reporting eligible IGST credit under CGST and SGST instead of IGST did not amount to excess input tax credit or justify proceedings under Section 73 of the GST Act.
CESTAT Bangalore held that renting residential premises to an educational institution for use as student hostels qualifies for exemption under Section 66D(m). The Tribunal ruled that the ultimate residential use of the property, not the identity of the lessee, determines eligibility for exemption.
The Income Tax Department has issued detailed FAQs explaining registration, audit, return filing, investment norms, and tax exemptions for charitable and religious trusts. The guidance also clarifies compliance requirements and circumstances that can lead to cancellation of registration and loss of exemptions.
CESTAT Chennai held that the one-time 50% capital cost collected for water supply infrastructure qualified for exemption under Section 104 of the Finance Act. The Tribunal ruled that the department could not take a contrary view after granting the same exemption for earlier periods.
The Tribunal held that the mark-up earned on ocean freight represented profit and was not liable to service tax under Steamer Agent Services. It set aside the demand by following its earlier decision in the appellant’s own case.
Delhi High Court ruled that the amendment restricting Explanation 2(e) applies prospectively and cannot take away vested refund rights relating to earlier tax periods. The Department was directed to decide the refund claims on merits.
Old Regime vs New Regime for Salaried Employees in FY 2026-27: A CA’s Optimisation Checklist The article explains that no changes were made to the income tax slab rates in the Union Budget 2026, and the tax structure introduced in Budget 2025 continues for FY 2026-27 (AY 2027-28) under both the old and new tax regimes. It […]
The Tribunal affirmed the CIT(A)’s order annulling assessments because the search was not conducted in the assessee’s name. It also noted that the Revenue’s appeals were not maintainable due to the low tax effect.
