The authority held that wrong disclosure of AGM details in Form MGT-7 attracts penalty under section 450. Accuracy in e-filings is the responsibility of the signatory.
The adjudicating authority held that filing AOC-4 after prolonged delay attracts penalty despite eventual compliance. Rectification beyond statutory timelines does not grant immunity.
The law now proposes a single consolidated assessment-cum-penalty order for under-reporting of income, reducing multiple proceedings and long-drawn uncertainty for taxpayers.
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.
