Latest Articles
Why Bank Loans Get Rejected in India: Practical Reasons & How to Fix Them
Finance : This explains why bank loans are rejected due to poor documentation, weak financials, and unclear business models. It also highlig...
US Taxation – IRS Audits
Income Tax : The article explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights taxpayer duties, righ...
Advocate Gets Bail in ITC Fraud Case Where Role Limited to Filing Returns
Goods and Services Tax : The court examined whether an advocate involved in filing GST returns for fake entities should remain in custody. It granted bail,...
AI in GST: Powerful Tool, Unready Taxpayers: Risks of Algorithmic Judgement
Goods and Services Tax : The increasing use of AI in GST is leading to automated mismatch alerts and notices based on flawed data. The key takeaway is that...
No TDS on Transport Payments: Declaration Format Under Income Tax Act 2025
Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Latest News
CBDT Refutes Allegations of Tax Raid, Terms Claims Baseless; Complaint Filed with Election Commission & Police
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Mastermind Arrested for ₹1,825 Crore GST Refund Fraud via Fake ITC & Bogus Exports
Goods and Services Tax : Authorities arrested the key accused for orchestrating fake ITC claims and fictitious export transactions. The case highlights str...
India–Korea MoU Signed to Boost Financial Regulatory Cooperation
Finance : The issue highlights a new agreement between financial regulators of both countries. The key takeaway is that the MoU promotes col...
IFSCA Registers First Foreign Family Investment Fund
Finance : IFSCA approved the first foreign family office fund under its 2025 regulations. The move strengthens GIFT IFSC’s position as a g...
DGFT Reforms to Speed Up Advance Authorisation
DGFT : Commerce Ministry reforms DGFT Norms Committees to improve disposal of Advance Authorisation applications and strengthen export fa...
Latest Judiciary
Revision u/s. 263 upheld as related party expense allowed without detailed verification
Income Tax : ITAT Delhi held that revisionary proceedings under 263 of the Income Tax Act justifiable since related-party expenses were accepte...
Private records recovered during investigation cannot prove charge of clandestine removal of goods
Excise Duty : CESTAT Kolkata held that the charge of clandestine removal of goods cannot be proved on the basis of private records recovered dur...
ITAT Quashed Income Tax Assessment Due to Absence of Section 127 Transfer Order
Income Tax : The Tribunal held that failure to issue a jurisdictional transfer order under Section 127 invalidates the assessment. It ruled tha...
Provision of section 76 of CGST not invocable as GST component already remitted
Goods and Services Tax : Madras High Court held that section 76 of the Central Goods and Services Tax Act, 2017 are not applicable since GST component is a...
Electrical repair service to government entity exempt from service tax vide notification 25/2012
Service Tax : CESTAT Allahabad held that electrical repair services provided to governmental entities is exempt from payment of service tax vide...
Latest Notifications
Penalty Imposed Due to Delay in Holding Board Meeting Beyond 120 Days
Company Law : The case deals with failure to comply with the mandatory 120-day gap between Board meetings. The authority imposed penalties despi...
GST Introduces IMS Offline Tool to Simplify Bulk Invoice Management
Goods and Services Tax : The GST portal launches an Excel-based IMS Offline Tool to help taxpayers efficiently manage and process invoices. It enables bulk...
CBIC extends due date of March GSTR-3B to 21st April 2026
Goods and Services Tax : CBIC extends due date for filing March 2026 GSTR-3B to April 21, 2026, for registered persons under Section 39 of the CGST Act....
Ambiguity in NCLAT Orders Not a Complete Defence for IRP Against Regulatory Penalty: IBBI
Corporate Law : The authority held that confusion arising from interim orders did not absolve the professional from taking proactive steps. The ca...
Customs Issues Procedure for Returned Export Cargo Due to Strait of Hormuz Disruption
Custom Duty : The notice outlines procedures for handling export containers returned due to disrupted maritime routes. It allows simplified clea...
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FAQs
Overview of the Constitution (106th Amendment) Act, 2023 covering women’s reservation in Parliament and Assemblies, its scope, timeline, and conditions.
The issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with flexible usage and repatriation of funds.
The scheme allows companies to clear pending filings at reduced cost. It provides a major compliance relief with only 10% additional fees payable.
IGST refunds are not available when exports are made under LUT/Bond without tax payment. The clarification highlights eligibility conditions and prevents incorrect refund claims.
The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value, deductions, and exemptions.
