The Budget proposes moving effective duty rates into the tariff and removing outdated exemptions. The key takeaway is greater transparency and easier determination of applicable customs duties.
The Budget 2026 changes overhaul customs duty structures by moving rates into the tariff and pruning exemptions. The key takeaway is greater predictability, fewer notifications, and phased withdrawal or extension of concessions.
The government has granted time-bound approval under section 35(1)(ii) enabling eligible donations to scientific research to qualify for tax benefits. The key takeaway is that deductions are available only with strict compliance on reporting and certification.
The regulator has abolished the LOC requirement for investor service requests. The key takeaway is quicker, safer direct credit of securities into demat accounts.
The Department announced empanelment of Senior and Junior Standing Counsels for Delhi courts and tribunals. Eligibility, tenure, and procedure are governed by CBDT Instruction No. 7 of 2016.
The amendment prescribes a clear formula to compute maximum rated speed of packing machines. This ensures uniform cess classification and prevents disputes over machine capacity.
This case explains that errors in mandatory e-forms, including incorrect AGM details, amount to statutory non-compliance. Both the company and the authorised signatory were penalised under Section 450.
The Tribunal held that overseas shares acquired from reinvested dividends cannot be taxed as undisclosed assets when the source is known and accepted. Mere omission of dividend income does not trigger the Black Money Act’s harsh provisions.
The order holds that missing mandatory disclosures in share issue filings violate Section 62 read with Rule 13. Even inadvertent procedural lapses can trigger penalties under the residual provision of the Companies Act.
The adjudicating authority held that filing an AOC-4 with incorrect particulars attracts penalty even if the error is later admitted and rectified. Administrative correction does not nullify the completed contravention under the Companies Act.
