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
Additional Investment Choices extended to Central Autonomous Bodies Employees subscribed under NPS
Corporate Law : The Government has extended two additional NPS investment options to Central Autonomous Bodies employees, enabling pension plannin...
IFSCA Proposes Mandatory FCSS Usage for IBUs to Enable Faster USD Settlements
Finance : IFSCA has proposed a draft circular requiring member IBUs in GIFT IFSC to route inter-bank transactions through FCSS. The proposal...
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...
Latest Judiciary
Paper Bags Under HSN 48194000 Taxable at 5% Under Entry 319: Gujarat AAR
Goods and Services Tax : Gujarat AAR held that paper bags classifiable under HSN 48194000 attract 5% GST under Entry 319 of Notification No. 09/2025-CT (Ra...
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...
Latest Notifications
SEBI Revises IPF Interest Utilisation Norms, Permits 5% for Administrative Expenses
SEBI : SEBI amended the IPF framework to require at least 95% of investment income to strengthen the corpus while permitting up to 5% for...
FAQs on Section 536 Transition Provisions Under Income-Tax Act 2025
Income Tax : CBDT FAQs clarify Section 536 transition rules for summons, searches, recovery, penalties, pending 12AB/80G approvals and LDC/NDC ...
Anti-Dumping Duty on Seamless Steel Tubes From China Extended to January 2027: CBIC
Custom Duty : CBIC extends anti-dumping duty on specified seamless steel tubes, pipes and hollow profiles from China PR through January 27, 2027...
Telangana Pollution Control Board Notified Under Section 11: CBDT
Income Tax : CBDT notifies Telangana Pollution Control Board under Section 11 of Income-tax Act, 2025, effective from tax year 2026-27 subject ...
Merchant Banker Made Optional for Buy-Backs; Open-Market Limits & Timelines Revised: SEBI
SEBI : SEBI revises buy-back rules from August 1, 2026, adding a 15% open-market cap, new timelines, ISIN-level freeze and optional merch...
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FAQs
CBDT FAQs clarify Section 536 transition rules for summons, searches, recovery, penalties, pending 12AB/80G approvals and LDC/NDC applications.
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.
