Latest Articles
ITAT Allows Final Section 35D Deduction and ESOP Recharge Expense
Income Tax : Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim ...
Why Choose the Statutory Audit Domain During Articleship
CA, CS, CMA : Statutory audit offers exposure to accounting, taxation, compliance, internal controls, and business operations during articleship...
GSTR-1 vs GSTR-3B: What’s the Difference and Which One Do You File First?
Goods and Services Tax : The issue concerns confusion regarding the purpose and sequencing of GSTR-1 and GSTR-3B filings. The key takeaway is that GSTR-1 s...
How to Get Drug License in India: Step-by-Step Process
Corporate Law : Drug Licenses are essential for businesses involved in selling, distributing, manufacturing, or importing medicines. The licensing...
Why GST Authorities Cannot Retain Redemption Fine After Dropping Section 130 Penalty
Goods and Services Tax : This analysis explains why a redemption fine under Section 130(2) cannot be sustained once authorities conclude that Section 130 l...
Latest News
SEBI Proposes Harmonized Price Bands to Prevent Divergence in Multi-Listed Scrip Prices
SEBI : SEBI has proposed a uniform framework for fixing price bands and pre-open base prices for scrips listed on multiple exchanges. The...
IFSCA FinTech Sandbox Framework, 2026: FAQs
Finance : The IFSCAs updated framework supersedes previous sandbox regulations and establishes a unified regime for FinTech testing in IFSCs...
ICAI Virtual Classes for CA Intermediate: May 2027, Sept 2027 & Jan 2028 Exams
CA, CS, CMA : ICAI has unveiled a detailed schedule of virtual classes designed to assist students appearing in upcoming CA Intermediate examina...
Representation on procedural issues in filing of appeals before GSTAT
Goods and Services Tax : The Rajasthan GSTAT Bar has urged the Tribunal to adopt a pragmatic approach by accepting pre-deposits made through the Electronic...
SEBI Proposes Consolidated AMC Pay Disclosures to Balance Transparency & Privacy
SEBI : SEBI has proposed replacing name-wise executive remuneration disclosures with consolidated disclosures for AMCs. The move seeks to...
Latest Judiciary
Reassessment Proceedings Held Void as Jurisdiction Was Assumed Beyond Limitation Period
Income Tax : The Tribunal ruled that reassessment proceedings initiated on the basis of an invalid Section 148 notice were void ab initio. It o...
Wrong PAN, Wrong Addition: ITAT Deletes ₹2.35 Crore Addition Made on Area Manager for Company’s Bank Account Transactions
Income Tax : The Tribunal examined whether an incorrect statement of financial transactions filed by a bank could lead to reassessment and addi...
Software Sale Not Royalty: Bangalore ITAT Follows Engineering Analysis, Rejects Revenue’s Plea Despite Review Petition
Income Tax : The Revenue sought to tax software distribution income as royalty despite judicial precedents to the contrary. The Tribunal dismis...
No Double Deduction If Loan-Funded Application Was Excluded Earlier: Bangalore ITAT Allows Trust’s Loan Repayment Claim
Income Tax : The Revenue disallowed loan repayments alleging double deduction of charitable expenditure. The Tribunal ruled that documentary ev...
No Exempt Income, No Section 14A Disallowance: Bangalore ITAT Deletes ₹43.42 Lakh Addition
Income Tax : The issue was whether expenditure could be disallowed under Section 14A read with Rule 8D when the assessee had not earned any exe...
Latest Notifications
GSTAT Committee Proposes Rule Changes to Ease Appeals
Goods and Services Tax : The Committee recommended replacing daily cause lists with weekly schedules and permitting supplementary lists when necessary. The...
IBBI Tightens CIRP Rules to Enhance Transparency in Resolution Decisions
Corporate Law : The Fourth Amendment Regulations, 2026 require committees of creditors to document the rationale behind approving resolution plans...
Countervailing Duty on Aluminium Wire Extended up to 23 March 2027
Custom Duty : Government extends countervailing duty on aluminium wire/wire rod imports from Malaysia up to 23 March 2027 through Notification N...
Anti-Dumping Duty on Aluminium Foil Extended up to 15th December 2026
Custom Duty : Government extends anti-dumping duty on aluminium foil from China, Malaysia, Thailand and Indonesia up to 15 December 2026. Notifi...
Government Waives AIDC on Higher Ethanol-Blended Petrol
Excise Duty : Notification No. 29/2026-Central Excise grants Nil Agriculture Infrastructure and Development Cess on E22, E25, E27 and E30 petrol...
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FAQs
The issue concerns confusion regarding the purpose and sequencing of GSTR-1 and GSTR-3B filings. The key takeaway is that GSTR-1 should be filed first to ensure proper ITC flow and avoid reconciliation mismatches and scrutiny.
The IFSCAs updated framework supersedes previous sandbox regulations and establishes a unified regime for FinTech testing in IFSCs. It aims to promote innovation while maintaining regulatory oversight.
Permanent Account Number (PAN) serves as a unique identifier enabling the Income-tax Department to track tax payments, returns, TDS/TCS credits, and specified financial transactions of taxpayers. The Income-tax Act mandates obtaining and quoting PAN for various persons and high-value transactions, while also prohibiting possession of multiple PANs and prescribing penalties for non-compliance.
CDSCO registration is required for importing, manufacturing, or marketing regulated healthcare products in India. The approval ensures compliance with safety, quality, and regulatory standards.
The FAQ clarifies that the Companies Act, 2013 does not restrict adjournment of a duly convened and commenced AGM. An adjourned AGM is treated as a continuation of the original meeting rather than a fresh meeting.
