The scheme allows eligible taxpayers to declare undisclosed foreign income or assets with payment of prescribed dues and limited immunity under the Black Money law.
New baggage rules and processing regulations are notified, replacing earlier frameworks and aligning customs procedures for passenger clearances.
Stakeholder-wise and thematic overview of Budget 2026 tax reform proposals covering farmers, MSMEs, corporates, NRIs, exporters, and households, with focus on tax certainty, ease of compliance, and trade facilitation.
Issues ranging from mandatory declarations to certification and translation requirements have been flagged. The core message is that early corrections can prevent long-term litigation hurdles.
The authority held that non-filing of the annual return for FY 2023–24 attracts penalty under section 92(5). Continued default led to penalties on both the company and directors.
The authority held that late filing of PAS-6 violates Rule 9A(8) and attracts penalty under section 450. Subsequent compliance does not erase earlier default.
Failure to file PAS-6 within time attracted penalties under section 450 despite subsequent compliance. Timely half-yearly reporting of share capital remains mandatory.
The circular enables fresh and previously rejected transfer requests to be processed during a defined period. Transfers will be credited only in demat form and locked in for one year.
The regulator restructured its advisory body with senior government officials, industry leaders, and domain experts. The decision strengthens consultative inputs on pension policy and governance.
The adjudicating authority held that omission of a registered valuer’s report in PAS-3 filings attracts penalty under section 39(5). Voluntary disclosure does not eliminate statutory liability.
