Latest Articles
Meaning of Relatives Under Income Tax Act, 1961
Income Tax : The Income-tax Act does not prescribe a single definition of "relative" for all purposes. Different provisions such as Sections 13...
Why Paying Taxes Matters: A Crucial Role in Nation Building
Income Tax : The article explains how income tax funds healthcare, education, infrastructure, defence, and welfare schemes that benefit society...
GST Turns Nine: One Nation, One Tax, and the Road Still Ahead
Goods and Services Tax : Nine years after its launch, GST has unified India's indirect tax system, digitised compliance, and expanded the tax base. The art...
When the Buyer Doesn’t Pay: What a GST-Registered Supplier Can Really Do
Goods and Services Tax : A supplier cannot issue a GST credit note merely because the buyer has not paid the invoice. The proper remedy is to document the ...
Penalties and Prosecutions Under Income tax Act, 1961
Income Tax : This guide explains the penalty and prosecution framework under the Income-tax Act for AY 2026-27. It highlights the consequences ...
Latest News
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...
SEBI Proposes Intraday Borrowing Against Non-Guaranteed Receivables for Mutual Funds
SEBI : SEBI proposes recognising intraday borrowing as a cash management tool by permitting broader borrowing purposes with board-approve...
Latest Judiciary
ELFA diagnostic kits eligible for Customs Duty Exemption was available to ELISA Kits
Custom Duty : ELFA-based VIDAS diagnostic kits were eligible for the customs exemption available to ELISA kits under Notification No. 50/2017-Cu...
No penalty u/s 271DA as there was no proof of section 269ST violation
Income Tax : Penalty under section 271DA could not be sustained merely on the basis of unverified seized data without independent corroborative...
Unregistered Charitable Trust Can Claim Deduction Under Section 57(iii); Gross Receipts Cannot Be Taxed
Income Tax : ITAT Mumbai held that denial of Section 11 exemption does not bar consideration of deductions under Section 57(iii) after factual ...
Section 56(2)(x) Not Attracted if Property Purchase Agreement Predates the Provision – Excess Tax Paid by Mistake Eligible for Refund
Income Tax : ITAT Mumbai remanded the case to examine whether Section 56(2)(x) applied based on the agreement date and to consider refund of ex...
APMC Commission Agent Cannot Be Taxed on Entire Sale Proceeds-Bengaluru ITAT Remands ₹2.67 Crore Cash Deposit Addition
Income Tax : ITAT Bangalore remanded a Section 69A addition after holding that an APMC commission agent's entire sale proceeds could not be tre...
Latest Notifications
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....
Duty Paid Through Scrips Eligible for Section 74 Drawback or Section 27 Refund Only by Re-Credit: CBIC
Custom Duty : CBIC has clarified that drawback under Section 74 and refund under Section 27 cannot be paid in cash where import duty was dischar...
IBBI Cancels IP Registration for Systemic CIRP Misuse & Due Diligence Failures
Corporate Law : IBBI cancelled an IP’s registration over systemic CIRP misuse, flawed valuations, non-disclosures, compliance failures and lack ...
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FAQs
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.
RBI has updated the FLA Return FAQs, clarifying who must file, the 15 July deadline, revision procedures, and reporting requirements under FEMA. The guidance helps entities avoid compliance lapses and potential penalties.
MoSPI will introduce the Index of Services Production (ISP) to measure short-term changes in the formal services sector. The monthly indicator will complement the IIP and improve economic monitoring and policymaking.
