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Income Tax Form 115: Form of appeal to Appellate Tribunal

March 26, 2026 1218 Views 0 comment Print

The issue relates to filing appeals within the prescribed limitation period. The rule mandates filing within two months of order communication. The key takeaway is strict adherence to timelines for appeal rights.

Income Tax Form 109: Statement for Accumulation of NPO Income – Section 342(1)

March 26, 2026 297 Views 0 comment Print

The case highlights conditions for claiming accumulation under section 342(1). Filing within the prescribed timeline is essential. The takeaway is strict compliance with filing deadlines.

Income Tax Form 106: Order Rejecting Provisional Registration/Approval Request of NPO

March 26, 2026 300 Views 0 comment Print

The issue concerns the process for granting or rejecting provisional registration or approval. The framework defines timelines, validity, and conditions. The key takeaway is structured compliance for registration under the new regime.

Foreign Contribution (Regulation) Amendment Bill, 2026 introduced in Lok Sabha

March 25, 2026 690 Views 0 comment Print

The amendment introduces a system where assets from foreign contributions vest in a designated authority upon cancellation or cessation of registration. This ensures better control and prevents misuse of foreign-funded assets.

Restaurants Cannot Levy LPG Charges as Separate Fees: CCPA

March 25, 2026 3096 Views 0 comment Print

The CCPA held that charging LPG or fuel surcharges separately is an unfair trade practice. Such costs must be included in menu prices, and separate recovery from consumers is not permitted.

SEBI Launches Verified Label to Curb Fake Trading Apps and Protect Investors

March 25, 2026 4746 Views 0 comment Print

SEBI introduced a verified badge on Google Play to help investors identify genuine trading apps. The move aims to prevent fraud caused by impersonation of legitimate platforms.

Cost Accountants Allowed to Audit Research Analysts Due to SEBI Clarification

March 25, 2026 2208 Views 0 comment Print

SEBI has clarified that members of the Institute of Cost Accountants of India are now eligible to conduct annual compliance audits of Research Analysts. This expansion strengthens regulatory compliance while increasing the pool of qualified professionals.

Maximum Penalty Imposed Due to Non-Filing of Financial Statements for FY 2018-19

March 25, 2026 216 Views 0 comment Print

Company failed to respond to show cause and hearing notices issued by the ROC. The authority proceeded ex-parte and imposed penalties. The ruling highlights that non-participation does not prevent enforcement action.

Income Tax Form 92: Quarterly Non-Resident Disclosure Statement (Rule 157)

March 25, 2026 2772 Views 0 comment Print

The requirement mandates specified funds and brokers to report non-resident investor details quarterly. It ensures transparency and enables monitoring of cross-border transactions.

Income Tax Form 91: Refusal to supply information under section 258(2)(a)

March 25, 2026 375 Views 0 comment Print

The issue relates to refusal of taxpayer information requested by an authorised authority. The framework allows rejection where disclosure is not in public interest, ensuring confidentiality safeguards.

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