Latest Articles
Understanding Risk-Based Internal Audit: A Learner’s Perspective
CA, CS, CMA : This article explains how risk-based internal audit prioritises high-impact business areas over routine verification. It highlight...
Constitutional Infirmity of Retrospective Section 147A of Income Tax Act, 1961
Income Tax : Examines whether retrospective tax laws can validly alter past legal interpretations. The case highlights how constitutional limit...
GSTAT Appeals Filing Procedure and Compliances at a Glance
Goods and Services Tax : Explains the complete process for filing appeals before GSTAT, including the three-month limitation period and mandatory pre-depos...
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 ...
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
Pre-Deposit Bars Recovery: Calcutta HC Orders Refund of Excess GST Recovery
Goods and Services Tax : The issue involved recovery despite statutory pre-deposit under GST law. The Court held that once pre-deposit is made, further rec...
ITC Denial Based Only on GSTR-2A Mismatch Set Aside for Lack of Proper Verification: Karnataka HC
Goods and Services Tax : The case involved denial of input tax credit solely due to return mismatch without examining records. The Court held that such mec...
GST Registration Cancellation Reversed on Condition of Tax Compliance: J&K&H HC
Goods and Services Tax : The case involved cancellation of GST registration due to non-response to a notice. The Court allowed restoration subject to filin...
No Evidence of Rowdyism: Karnataka HC Strikes Down Police Register Entry
Corporate Law : The Court examined inclusion in a rowdy register without supporting material and found no criminal cases or evidence. It held that...
Illegible Bill of Lading Leads to Refund Denial, Calcutta HC Orders Reconsideration
Goods and Services Tax : The case involved denial of GST refund due to unclear documentation on shipping details. The Court held that the assessee must be ...
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 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.
The circular addresses uncertainty in FLA reporting FAQs under FEMA. It directs institutions to pause action until regulatory clarity is achieved, ensuring compliance consistency.
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.
