Latest Articles
GST on Advance for Services: Is Tax Payable Before Work Begins?
Goods and Services Tax : Is GST payable on advances received for services before work begins? Learn the time of supply rules, GST treatment of service adva...
I Moved Abroad Mid-Year – Am I an NRI for Tax This Year, or Not?
Income Tax : Confused about your NRI status? Learn how the 182-day rule under Section 6 determines residential status, when foreign salary is t...
Cash Gift Taxed, Car Gift Tax-Free? Surprising Section 56(2)(x) Difference
Income Tax : Why can a ₹10 lakh cash or gold gift be taxable, while a car or iPhone of the same value may not? Understand the scope of Sectio...
Ghost Assets: A Hidden Risk in Fixed Asset Registers
Corporate Law : The article explains ghost assets, their financial and audit impact, CARO 2020 requirements, and the importance of periodic physic...
Advance Tax Provisions Retained in Income-tax Act 2025 with Renumbered Sections
Income Tax : Income-tax Act 2025 retains advance tax provisions, payment schedule and conditions, with only section numbers replacing those und...
Latest News
Section 2(47)(v) Capital Gains Deleted as Section 53A Conditions Not Satisfied: ITAT Bangalore
Income Tax : ITAT Bangalore held Section 2(47)(v) inapplicable as the JDA did not satisfy Section 53A conditions, deleting capital gains for AY...
IFSCA Updates Registration of Insurance Business Regulations, 2021
Finance : IFSCAs updated Registration of Insurance Business Regulations prescribe registration, operations, governance and compliance requir...
ICAI Renews Five-Year Mutual Recognition Agreement with CPA Australia
CA, CS, CMA : ICAI and CPA Australia renewed their Mutual Recognition Agreement for five years to continue collaboration and professional mobili...
ICAI Issues Exposure Draft on Revised Section 44AB Tax Audit Guidance Note
Income Tax : ICAI has invited public comments on the Exposure Draft revising the Guidance Note on Tax Audit under Section 44AB by 25th July, 20...
CA Foundation May 2026 Results; Pass Percentage & Top 3 Rankers
CA, CS, CMA : ICAI has declared the CA Foundation May 2026 results with an overall pass percentage of 20.09% and announced the All India top ran...
Latest Judiciary
Section 147 Reassessment Valid Where Search Material Not Directly Pertain to Assessee: ITAT Pune
Income Tax : ITAT Pune restored Section 147 reassessment, holding Section 153C was inapplicable as seized material did not directly pertain or ...
Bombay HC Permits Challenge to Section 147A Without Original Writ Petition
Income Tax : Bombay HC allowed amendment of an e-filed writ petition challenging Section 147A without requiring the original petition and dispe...
Bogus Sales Profit Addition Rejected as Sales Suppression Not Proved: Gujarat HC
Income Tax : Gujarat HC dismissed Revenue appeals, holding no 6% profit addition on sales was warranted as sales were recorded and suppression ...
Statutory Appeal Is Proper Remedy Against Customs Redemption Fine & Penalty: Madras HC
Custom Duty : Madras HC declined to entertain the writ, directed the petitioner to pursue the Section 129A appeal, and protected limitation if f...
Homebuyer Cannot Inflate CIRP Claim by Adjusting Refund Towards Interest: NCLT Mumbai
Corporate Law : NCLT Chandigarh dismissed homebuyers’ plea, upheld the RP’s claim admission methodology, and declined re-computation of intere...
Latest Notifications
SEBI Amends Employees’ Service Regulations with New Investment, Disclosure & Recusal Framework
SEBI : SEBI amends Employees’ Service Regulations, 2001 introducing revised investment, disclosure, gift, employment and recusal provis...
CBIC Empowers Board to Extend Two-Year Re-Export Period for Duty-Free Event Imports
Custom Duty : CBIC Notification No. 28/2026-Customs empowers the Board to extend the two-year period in specified cases on sufficient cause bein...
CBDT Specifies Maharashtra Authority for Income Tax Information Sharing
Income Tax : CBDT Notification No. 81/2026 specifies Maharashtra's Principal Secretary for income-tax information sharing under Section 258 for...
CBIC Extends Anti-Dumping Duty on Chinese Arylides Till 13 January 2027
Custom Duty : CBIC extends anti-dumping duty on Arylides imported from China PR till 13 January 2027 through Notification No. 17/2026-Customs (A...
No TDS on Specified Payments to Eligible IFSC Units: CBDT
Income Tax : CBDT Notification No. 80/2026 exempts specified payments to eligible IFSC Units from TDS, subject to conditions and Form No. 1(N)....
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FAQs
NSE FAQs explain Regulation 42 Record Date filing, NEAPS submission, timelines, rights issue requirements and compliance under SEBI (LODR) Regulations.
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.
CBDT FAQs clarify Section 536 transition rules for summons, searches, recovery, penalties, pending 12AB/80G approvals and LDC/NDC applications.
