Latest Articles
Section 13(3)(b) Cannot Substitute Statutory Recipient With Ultimate Beneficiary: Bombay HC
Goods and Services Tax : The article explains why Section 13(3)(b) is a narrow exception to Section 13(2), requiring identification of the statutory recipi...
Salaried Taxpayers Can Pay Nil Tax Up to ₹12.75 Lakh Under New Regime
Income Tax : Learn how the Rs. 75,000 standard deduction and Section 87A rebate reduce tax liability to nil for eligible salaried taxpayers un...
Consolidated Satisfaction Note for Multiple Years Invalidates Section 153C Jurisdiction: ITAT Delhi
Income Tax : ITAT Delhi held that a single satisfaction note for multiple assessment years fails the mandatory requirements of Section 153C, re...
GST at 9: Gains, Pains, Challenges and Way Forward
Goods and Services Tax : Nine years of GST have delivered higher revenue, digital compliance, and economic integration, while challenges such as ITC disput...
FAQ on Udyam Registration of Enterprise
Goods and Services Tax : Udyam Registration is a Central registration issued by the Ministry of MSME and is valid in all States and Union Territories. No s...
Latest News
ICAI Denies Data Breach Claims, Calls Social Media Allegations Malicious
CA, CS, CMA : ICAI has categorically rejected social media claims of a data breach, confirming that no members', students', or examination recor...
Beware of Fraudulent Communications Impersonating MCA Officials
Company Law : MCA has cautioned stakeholders against phishing calls, WhatsApp messages, emails, fake websites, and ZIP attachments impersonating...
IBBI proposes amendments to CIRP, Liquidation & Personal Guarantor Regulations
Corporate Law : IBBI has proposed amendments to CIRP, Liquidation, and Personal Guarantor Regulations to improve valuation, clarify RP duties, sim...
ICAI Warns CAs Against Extremely Low Fee Quotes in Tenders
CA, CS, CMA : ICAI Warns CAs Against Extremely Low Fee Quotes in Tenders; Matter May Be Referred for Disciplinary Action The Professional Develo...
SEBI Proposes Municipal Bond Rule Changes to Boost Retail Investor Participation
SEBI : SEBI proposes amendments to the Municipal Debt Securities Regulations to encourage retail participation through investor incentive...
Latest Judiciary
Unaccounted sales must be taxed on net profit basis, not on gross profit
Income Tax : Where unaccounted sales were established through seized material, only the net profit embedded therein was liable to tax, and not ...
Supreme Court Reiterates: A Registered Will Is Not Beyond Suspicion – Propounder Must Satisfy the Court’s Judicial Conscience
Finance : SC held that registration alone does not validate a Will. The propounder must dispel suspicious circumstances, and HC cannot upset...
Bengaluru ITAT Remands Ex Parte Assessment Based on Demonetisation Cash Deposits; AO Directed to Recompute Income on Proper Evidence
Income Tax : ITAT Bangalore remanded the assessment after holding that income estimation based solely on bank deposits without supporting evide...
Bengaluru ITAT: Additions Made in Intimation U/s 143(1) Cannot Be Challenged in Appeal Against Scrutiny Assessment U/s 143(3)
Income Tax : ITAT Bangalore held that additions made in an intimation under Section 143(1) cannot be disputed in an appeal against a scrutiny a...
Deduction was allowable on compensatory interest, zero-exempt-income u/s 14A disallowance, 80G CSR deductions, and workforce depreciation
Income Tax : Interest on delayed payment of the FM radio migration fee was a compensatory business expenditure deductible under Section 37(1); ...
Latest Notifications
CBDT Approves IIHS for Social Science Research under Section 45(3)(a)(ii)
Income Tax : CBDT has notified the Indian Institute for Human Settlements as an approved institution for social science and statistical researc...
CBIC Prescribes Deficiency Memo Format for Drawback Claims
Custom Duty : CBIC has introduced a uniform Deficiency Memo format for Section 74 drawback claims, standardizing document requirements and claim...
IBBI CPIO Advised to Follow RTI Timelines as Response Was Delayed Beyond 30 Days
Corporate Law : The IBBI First Appellate Authority held that although the CPIO failed to respond within the statutory 30-day period under the RTI ...
China Glufosinate Imports Face Provisional Assessment & Additional Guarantee: CBIC
Custom Duty : CBIC has directed provisional assessment of imports of Glufosinate and its salt from China pending the anti-absorption review. Imp...
China-Origin Insoluble Sulphur Imports Face Provisional Assessment Pending Review: CBIC
Custom Duty : CBIC has directed provisional assessment of Insoluble Sulphur imports from China while the anti-absorption review remains pending....
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FAQs
Udyam Registration is a Central registration issued by the Ministry of MSME and is valid in all States and Union Territories. No separate State-wise registration is required.
The FAQs explain that FAST-DS, introduced through the Finance Act, 2026, offers eligible taxpayers a one-time opportunity to disclose undisclosed foreign assets and income in return for immunity from specified penalties and prosecution under the Black Money Act, subject to prescribed conditions.
The Companies Act, 2013 requires most companies to hold four Board Meetings annually, while OPCs, Small Companies, and Dormant Companies need only two. Listed companies must also comply with corresponding SEBI (LODR) meeting requirements.
GSTN has clarified mandatory Ship-to GSTIN requirements, API changes and voluntary e-Way Bill closure before the proposed 1 August 2026 rollout.
RBI has launched the Integrated Ombudsman Scheme, 2026, providing a centralized, cost-free mechanism for resolving complaints against regulated entities. The Scheme also introduces structured settlements, compensation, and an appeal process.
