The Income-tax Department intensified scrutiny of charitable entities after finding high surplus margins, premium pricing, and commercial-style operations. The developments show that institutions functioning like businesses may lose tax exemptions despite charitable registration.
The new law treats gains from depreciable assets as short-term capital gains for all purposes, not merely for computation. This effectively removes exemption benefits previously allowed through judicial interpretation under the old regime.
The new form consolidates multiple income disclosures into one, enabling accurate TDS deduction. Key takeaway: unified reporting reduces excess tax deduction and refunds.
The case highlights how the new framework enforces stricter compliance using data analytics. It underscores that incorrect declarations can trigger penalties and scrutiny
ITR-4 Sugam: End of Blind Presumptive Compliance?” The Central Board of Direct Taxes (CBDT) has introduced a significant compliance change in the newly released ITR-4 (Sugam) for Financial Year 2025-26. The amendment potentially marks a major compliance shift under the presumptive taxation scheme.” Taxpayers opting for the presumptive taxation scheme under Sections 44AD, 44ADA and […]
Banks are asking CAs to issue end-use and KYC certificates without regulatory support. RBI confirms no such requirement exists, highlighting the need for professionals to avoid unauthorized certifications.
The new framework eliminates mandatory renewals and replaces them with continuous monitoring. Donor eligibility now depends on sustained compliance and proper fund utilisation.
The new law replaces time-bound approvals with continuous compliance monitoring for charitable entities. Registration now survives only if organisations consistently meet prescribed conditions.
The proposal to remove statutory audits for small companies risks eliminating independent financial scrutiny, potentially weakening transparency and accountability across the corporate ecosystem.
Courts hold that one-time alimony is a capital receipt arising from extinguishment of rights and not taxable. The ruling clarifies limits on taxing matrimonial settlements.
