Latest Articles
Interest for failure to Collect/Deduct & for delayed TDS/TCS Payment
Income Tax : This article explains the interest provisions applicable to delays in TDS deduction, TDS/TCS payment and non-payment of tax demand...
Indian Economy: A Unique Case of Stateless Debt Economy
Finance : The article argues that debt has increasingly become the foundation of economic activity across households, businesses, and govern...
Crisp Notes on Issuance of SCN Under GST
Goods and Services Tax : This article explains the legal significance of a Show Cause Notice under GST and why it forms the foundation of adjudication proc...
Form 10BD Filing & Correction Guide: Revised Forms, Omitted Donors & 80G Issues
Income Tax : The article explains how accurate Form 10BD reporting protects donor deduction claims, prevents penalties, and ensures consistency...
June 2026 Advance Tax: Key Checks Under New Income Tax 2025
Income Tax : The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should u...
Latest News
ICSI Introduces World’s First Online Preferential Voting System for Professional Elections
CA, CS, CMA : ICSI announced that its 2026 elections will be conducted through an online preferential voting system, marking a global first for ...
GST Audit Flags MSME Challenges: Key Recommendations to Improve Ease of Doing Business
Goods and Services Tax : Stakeholders identified persistent issues in GST registration, cancellations, and refund processing affecting MSMEs. The consultat...
ICSI Expands Alternative Mode CLDP Eligibility to Address Training Gaps for Students
CA, CS, CMA : ICSI approved broader eligibility criteria for Alternative Mode CLDP, benefiting students under earlier training structures and ce...
ICAI Invites Nominations for 40 Under 40 Awards to Recognize Young CA Business Leaders
CA, CS, CMA : ICAI has opened nominations for Season 5 of the 40 Under 40 CA Business Leader Awards to honour Chartered Accountants under 40 dem...
ICSI First Bi-Annual Southern Region Convocation of FY 2026-2027
CA, CS, CMA : ICSI has mandated advance online registration for eligible members attending the Southern Region Convocation. The notification emp...
Latest Judiciary
ITAT Deletes Section 14A Disallowance as Subsidiary Investment Yielded No Exempt Income
Income Tax : The ITAT held that investments which did not generate exempt income during the year cannot be considered for Rule 8D disallowance....
CESTAT Quashes Penalty on Customs Broker for Lack of Evidence of Due Diligence Failure
Custom Duty : The Bangalore CESTAT set aside the penalty imposed under the CBLR after finding no admissible evidence that the Customs Broker had...
WhatsApp Chats Alone Cannot Justify Tax Additions Without Supporting Evidence: ITAT Ahmedabad
Income Tax : The ITAT Ahmedabad held that isolated WhatsApp messages and electronic communications cannot, by themselves, support additions in ...
ITAT Deletes BMA Penalty as Foreign Assets Were Disclosed in Section 153A Returns
Income Tax : ITAT Ahmedabad held that penalty under Section 43 of the Black Money Act could not be imposed when foreign assets were subsequentl...
ITAT Quashes Black Money Assessment as TOLA Extensions Not Cover Black Money Act
Income Tax : The Delhi ITAT held that notifications issued under TOLA extending limitation periods applied only to specified statutes and not t...
Latest Notifications
GSTAT Bars Defect Flags on Valid Appeal Documents to Ease Initial Portal Compliance
Goods and Services Tax : GSTAT instructed scrutiny officers not to raise defects where appellants have uploaded the required documents in prescribed form. ...
ROC Imposes Penalty as Incorrect AGM Due Date Was Filed in AOC-4
Company Law : ROC Mumbai penalized a director after Form AOC-4 contained an incorrect AGM due date. The order emphasizes that directors are resp...
Duplicate DIN Attracts Penalty Because Companies Act Prohibits Possessing More Than One DIN
Company Law : ROC Mumbai imposed a penalty after finding that an individual held two Director Identification Numbers in violation of Section 155...
ROC Imposes Penalty as Incorrect Director Appointment Date Was Filed in DIR-12
Company Law : ROC Mumbai penalized a Whole Time Director for filing Form DIR-12 with an incorrect CFO appointment date. The order reiterates tha...
ROC Imposes Heavy Penalty for Failure to Dematerialize Shares and Obtain ISIN
Company Law : The adjudicating authority held that an unlisted public company violated Section 29 by continuing to issue and transfer shares in ...
Latest Downloads
FAQs
The Income-tax Act mandates obtaining and quoting TAN because it serves as a unique identifier for all TDS and TCS compliance obligations. The key takeaway is that non-compliance, including failure to obtain TAN or quoting an incorrect TAN, can result in a penalty of ₹10,000, making timely adherence to procedural requirements essential.
NSE released detailed FAQs to address practical issues in submitting Quarterly Integrated Filing – Governance reports through XBRL. The guidance aims to ensure uniform compliance with SEBI’s corporate governance framework.
The analysis explains the statutory mechanism under Section 168(3) for restoring a functioning Board when all directors resign or vacate office. It also discusses the role of promoters and the Central Government in preventing a governance vacuum.
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.
