Latest Articles
TDS- Section 194IA Payment on transfer of immovable property AY 2026-27
Income Tax : Understand when 1% TDS applies on purchase of immovable property under Section 194-IA. Learn the Rs. 50 lakh threshold, compliance...
Gold & Silver rates as on 01.04.1981 & From 31.03.2008 to 31.03.2025
Income Tax : Explore the latest gold and silver rates together with prescribed reductions for valuing gold ornaments. The document also provide...
AI Disruption Threatens India’s $300 Billion IT Industry, Jobs & Outsourcing Model
Finance : The article explains how AI is reshaping India's IT services industry by automating routine work, forcing companies to transform t...
Role of Statement of Facts in GST Litigation Before Appellate Tribunal
Goods and Services Tax : The article explains that the Statement of Facts forms the foundation of every GST appeal. It emphasizes that accurate, evidence-b...
Free Income Tax Tool for FY 2025-26: Compare Regimes & Prepare ITR
Income Tax : The article introduces an offline tax computation tool that calculates tax under both the old and new tax regimes, helping taxpaye...
Latest News
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...
SEBI Proposes Simpler Securities Transmission Rules to Reduce Documentation Burden
SEBI : SEBI proposes revising the securities transmission framework by simplifying documentation, standardising procedures, and increasin...
Latest Judiciary
Accrued Business Liability Deductible Despite Future Payment: ITAT Mumbai
Income Tax : ITAT Mumbai held that an accrued business liability supported by evidence is deductible under Section 37(1) despite future payment...
Revenue-Sharing Arrangements on Principal-to-Principal Basis Not Taxable as BSS: CESTAT Chennai
Service Tax : CESTAT held that revenue-sharing arrangements with restaurant operators did not constitute Business Support Service and set aside ...
Section 271(1)(c) Penalty Unsustainable When Section 148 Returned Income Accepted Without Addition: ITAT Chennai
Income Tax : ITAT Chennai held that penalty under Section 271(1)(c) cannot survive when the AO accepts the income declared in the return filed ...
Abandoned Project Expenses & Lease Rent Allowable as Revenue Expenditure: ITAT Delhi
Income Tax : ITAT held that expenditure on a permanently abandoned project is deductible as revenue expenditure and deleted the related additio...
Section 153C Limitation Begins from Receipt of Seized Material by JAO: ITAT Delhi
Income Tax : ITAT held that the limitation under Section 153C must be reckoned from the date the jurisdictional AO receives seized material, no...
Latest Notifications
No TDS on Ship Lease Rent Paid to Eligible IFSC Units: CBDT
Income Tax : CBDT has clarified that lessees need not deduct TDS on ship lease payments once the IFSC lessor submits Form 1(N), provided the Se...
India Notifies UK Trade Agreement Rules of Origin Effective 15 July 2026
Custom Duty : CBIC notifies India-UK trade agreement origin rules from 15 July 2026, prescribing origin criteria, QVC tests and preferential tar...
UK-India CETA: Customs Duty & IGST Exemption for Event Animals Subject to Re-Export Conditions
Custom Duty : Notification No. 24/2026-Customs exempts eligible animals imported under the India-UK trade agreement from customs duty and IGST, ...
CBIC Continues ADD on Normal Butanol Imports from Malaysia, South Africa & USA
Custom Duty : The government has extended anti-dumping duty on Normal Butanol imports from Malaysia, South Africa, and the USA for five years af...
Insoluble Sulphur Imports from China Subject to Provisional Assessment Pending Anti-Absorption Review
Custom Duty : The government has ordered provisional assessment of Insoluble Sulphur imports from China after the Designated Authority found pri...
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FAQs
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.
Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The guide also explains the transition from AAR to the Board for Advance Rulings and the e-Advance Ruling Scheme.
