Latest Articles
Tax Audit as a Tool for Lower Profit Declaration Under Income-Tax Act 2025
Income Tax : The article analyses whether declaring profits below presumptive rates automatically triggers tax audit under the Income-tax Act, ...
Section 155 GST: How Much Must Buyers Prove for ITC Claims?
Goods and Services Tax : This article explains the extent of the burden of proof under Section 155 of the CGST Act. The key takeaway is that recipients mus...
CMA Data in context of Working Capital Assessment and Stock Audits
CA, CS, CMA : CMA data forms the backbone of working capital assessment by helping banks determine genuine funding requirements and borrower con...
Latest Changes in ITR-1, ITR-2 & ITR-4 for A.Y. 2026-27
Income Tax : The revised ITR forms for AY 2026-27 introduce new tax slabs, expanded ITR eligibility, and enhanced disclosure requirements. Unde...
Dual GST Jurisdiction: How Parallel Proceedings Are Burdening Taxpayers
Goods and Services Tax : Dual Control Without Coordination: How CGST–SGST Jurisdiction Gaps Are Trapping Taxpayers in Parallel Proceedings Overview One o...
Latest News
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...
CAAS Urges Responsible AI Use in GST Administration
CA, CS, CMA : CAAS suggested that while favourable outcomes may be automated, adverse actions should require a named officer's approval supporte...
Latest Judiciary
Consignment Sales Cannot Be Treated as Inter-State Sales Based on Pre-Agreement Evidence
Service Tax : Karthik Papers Limited Vs Commercial Tax Officer (CESTAT Delhi) The appeal was filed by Shree Karthik Papers Limited against the p...
Mere Absence of Heavy Machinery Not Proof of Diversion of Imported Gold & Silver
Custom Duty : P P Jewellers & Diamonds Pvt. Ltd. Vs Commissioner of Customs (Preventive) (CESTAT Delhi) The Customs, Excise and Service Tax ...
SC Upholds Reassessment as Survey Revealed True Nature of AOP Receipts
Income Tax : Sanand Properties P. Ltd. Vs Jt. Commr. of I.T. Range 6 And Ors. (Supreme Court of India) Reopening of Assessment Valid Because Su...
Section 87A Rebate Cannot Be Denied Solely Because LTCG Exceeds Rs.1 Lakh: ITAT Surat
Income Tax : The Tribunal held that rebate under section 87A could not be denied merely because LTCG exceeded Rs.1 lakh. It ruled that the rele...
CESTAT Upholds Cenvat Credit Denial for Use of Non-Genuine Excise Duty-Paid Documents
Excise Duty : CESTAT Ahmedabad ruled that Cenvat Credit cannot be retained when based on invoices issued by fake or non-existent suppliers. The ...
Latest Notifications
FAQs on Quarterly Integrated Filing by Listed Entities– Governance
SEBI : NSE released detailed FAQs to address practical issues in submitting Quarterly Integrated Filing – Governance reports through XB...
RBI Amends FEMA Rules Due to Revised Payment and Reporting Norms for NRIs and OCIs
Fema / RBI : RBI has updated FEMA regulations to modify payment modes, sale proceeds remittance, and reporting requirements for NRIs, OCIs, and...
Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2026
Fema / RBI : The 2026 amendment broadens investment eligibility under FEMA by allowing all individual persons resident outside India to invest ...
MeitY Amends Registration Order as Standalone Hard Disk Drives Require Separate Regulatory Coverage
Corporate Law : The notification revises the 2021 Compulsory Registration Order by specifically covering standalone hard disk drives under the pre...
CBIC Issues Customs Instruction as MeitY Expanded Compulsory Registration Coverage to Standalone Hard Disk Drives
Custom Duty : CBIC directed field officers to implement MeitY's revised registration requirements for standalone hard disk drives. The new frame...
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FAQs
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.
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.
