Latest Articles
Single-Member US LLC Tax in India: Disregarded Entity Status Explained
Finance : The issue concerns differing tax treatment of single-member US LLCs in India and the US. The position clarifies that India taxes g...
Sailing in Two Boats: Navigating Dual Regime of Income Tax Act, 1961 & 2025
Income Tax : A clear guide explaining how both the 1961 and 2025 tax laws will coexist, and why professionals must apply each depending on the ...
Section 54(3) Rewritten: Finance Bill 2026 Overturns VKC Footsteps Extending Inverted Duty
Goods and Services Tax : Explains how the 2026 amendment expands refund eligibility to input services and capital goods, correcting earlier restrictions th...
GST TDS Compliance for April 2026: Due Date, Rules & Key Requirements
Goods and Services Tax : This guide explains the legal requirements for GST TDS under Section 51 and Rule 66, including rates, thresholds, and applicabilit...
Filing GST Returns vs. Filing GST Returns Correctly: Why Accuracy Matters?
Goods and Services Tax : Explains that merely filing GST returns does not ensure compliance, as errors in ITC claims, turnover, or classification can trigg...
Latest News
Direct Tax Collections for F.Y. 2025-26 as on 31.03.2026
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
SEBI Proposes Amendments as Existing Rules Conflict with RBI Securitisation Directions
SEBI : SEBI suggests relaxing concentration limits for RBI-regulated entities. This change aims to enable listing of single-asset securit...
ICAI Releases Draft Auditor Panel for Co-operative Banks
CA, CS, CMA : The issue involves publication of the draft panel for statutory auditor appointments. ICAI has released the list based on existing...
ICAI Seeks Feedback on May 2026 CA Exams
CA, CS, CMA : Candidates can raise concerns regarding exam papers through email or post. The Institute will consider only properly submitted res...
ICSI First Bi-Annual Eastern Region Convocation of Fy 2026-2027
Company Law : The issue concerns eligibility and participation rules for the convocation. ICSI has clarified that members who do not attend will...
Latest Judiciary
Jharkhand HC Dismissed Writ Petition Due to Availability of Alternate GST Appeal Remedy
Goods and Services Tax : The Court clarified that local self-government bodies are not automatically exempt from GST on all activities. It ruled that such ...
CIRP initiation for recovery amounts to misuse of Insolvency Framework: SC
Corporate Law : The Supreme Court held that the IBC cannot be used as a substitute for execution of a civil court decree. It ruled that initiating...
Year-End Provisions Trigger TDS – ITAT Upholds Default but Grants Relief Window
Income Tax : ITAT holds TDS applies on year-end provisions where payee, amount, and nature are identifiable—assessee treated in default u/s 2...
Souharda Society Wins 80P Deduction – ITAT Rejects Technical Denial & Expands Benefit
Income Tax : ITAT allows Section 80P deduction to Souharda society, holding registration under Souharda Act qualifies as co-operative society; ...
Interest Paid = Deductible When Obligation Exists – ITAT Allows Claim on Capital Bond Arrangement
Income Tax : ITAT allows deduction of interest paid under capital bond agreement, holding a clear contractual obligation existed; since corresp...
Latest Notifications
₹2000 Notes Withdrawal Near Completion as 98.47% Currency Returned to RBI
Fema / RBI : The RBI confirmed that nearly all ₹2000 banknotes have been returned since the 2023 withdrawal announcement. With only a small f...
Penalty Set Aside as Company Proves Separate Bank Account Compliance
Company Law : The appellate authority found that the company complied with private placement provisions by safeguarding funds in a separate acco...
Private Placement: No Penalty on Separate Bank Account Compliance
Company Law : The issue involved alleged violation in handling share application money under company law. The ruling held that maintaining funds...
ROC Set Aside Penalty Due to Proof of Proper Use of Separate Bank Account for Share Money
Company Law : The issue involved alleged misuse of share application funds under company law provisions. The authority ruled that compliance was...
Customs Relief Extended Due to Strait of Hormuz Disruptions Impacting Maritime Trade
Custom Duty : The circular addresses continued trade challenges caused by maritime disruptions. The Board extended the validity of multiple faci...
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FAQs
The update addresses regulatory relief for NBFCs without public funds or customer interface. It allows eligible entities to operate without registration while ensuring continued oversight and compliance safeguards.
The circular addresses uncertainty in FLA reporting FAQs under FEMA. It directs institutions to pause action until regulatory clarity is achieved, ensuring compliance consistency.
The issue concerns regulatory burden on smaller NBFCs without systemic risk exposure. The RBI introduced exemption for such entities under “Unregistered Type I NBFCs.” The key takeaway is that low-risk NBFCs may operate without registration subject to strict conditions.
The issue concerns delays in pension credit caused by banks. The guidelines mandate 8% interest compensation for such delays. The key takeaway is that banks are accountable for timely pension payments.
RBI clarified that the Digital Rupee is legal tender with features similar to physical cash. It enables secure, instant, and fee-free transactions through digital wallets.
