Latest Articles
GST Refund Cannot Be Denied for Double Payment Due to Limitation: Orissa HC
Goods and Services Tax : The Court ruled that limitation under Section 54 cannot bar refund of mistakenly paid GST. It held that excess tax collected witho...
e-TDS/TCS Filing Complexities in RPU Ver. 5.9 and Solutions
Income Tax : Learn the key technical and operational hurdles in TDS/TCS compliance, including FVU errors and defaults. The article highlights p...
New Income Tax Act 2025 & MSME Loan Approval: Shift from Collateral to Data-Driven Financing
Income Tax : The new tax regime shifts loan approval to verified financial data like ITR and GST. Clean records now determine eligibility inste...
Reclassification from Promoter to Public: Eligibility, Process, Draft Resolution & Checklist
SEBI : Regulation 31A lays down strict eligibility and compliance requirements for promoter reclassification. The key takeaway is that lo...
Duplicate DIN Penalised Even If Unintentional
Company Law : Holding more than one DIN is treated as a continuing default under law. Even genuine mistakes attract penalties, though early corr...
Latest News
IFSCA Approves Capital Raising Frameworks to Enable Efficient Fund Mobilisation in IFSC
Finance : The Authority introduced frameworks for preferential issues, QIPs, and rights issues to streamline capital raising. The move aims ...
SEBI Proposes New Variable Net Worth Rules Due to Upstreaming Impact on Client Funds
SEBI : The consultation highlights that existing net worth calculations based on retained client funds are no longer effective. A revised...
SEBI Proposes CUSPA Reforms Due to Operational Challenges in Handling Unpaid Securities
SEBI : The draft circular addresses issues in managing unpaid client securities and proposes changes to the existing pledge framework. It...
ICSI Invites Stakeholder Feedback to Revise Company Secretary Course Syllabus
Company Law : The Institute has proposed syllabus changes to align with modern industry, regulatory, and technological needs. Stakeholders are i...
Representation on Cancellation of GST Registration & Refund Processing
Goods and Services Tax : The representation highlights ambiguity in whether the ₹2.5 crore ITC threshold should be annual or cumulative. It emphasizes th...
Latest Judiciary
Reassessment Quashed: JAO Cannot Issue 148 Notices Post-Faceless Regime- Hyd ITAT
Income Tax : The Tribunal examined whether reassessment notices issued by a jurisdictional officer instead of a faceless authority were valid. ...
Reopening Quashed: ITAT Slams Casual 148A Action Where ₹50L Threshold Not Met
Income Tax : The Tribunal held reassessment invalid as the alleged escaped income did not exceed ₹50 lakh required for extended limitation. I...
Accommodation Entry Commission Restricted to 0.5% – Addition Reduced to Actual Involvement
Income Tax : The issue was estimation of commission income from alleged accommodation entries. The tribunal held that addition should be restri...
Section 80GGC Deduction Denied – Bogus Political Donation Upheld on Human Probability Test
Income Tax : The issue was whether donation to a political party qualified for deduction under Section 80GGC. The tribunal held the claim was n...
Telecom Receipts Not Royalty/FTS – Taxable Only as Business Profits Absent PE
Income Tax : The issue was whether telecom and O&M service receipts are taxable as royalty/FTS in India. The tribunal held they are business pr...
Latest Notifications
Penalty Imposed for Incorrect AOC-4 Filing Due to Missing Consolidated Statements
Company Law : ROC Mumbai penalized the authorized signatory for incorrect AOC-4 filing where consolidated financial statements were omitted. The...
Company Penalized for Allotting Shares Without Full Consideration Receipt
Company Law : The case involved allotment of shares before complete payment and issues with fund traceability. The authority held it as non-comp...
Penalty Imposed for Missing Valuer Details in Preferential Allotment Disclosures
Company Law : Failure to disclose registered valuer details in explanatory statements led to penalties under Section 450. Each instance was trea...
Penalty imposed for Incorrect AOC-4 Filing Due to Wrong Disclosure on Subsidiary Status
Company Law : The authority imposed a penalty on the director for incorrect disclosure in Form AOC-4. It held that the signatory is responsible ...
Kerala GST Framework for Scrutiny and Appeal of Appellate Orders
Goods and Services Tax : This case highlights how delays in filing appeals against adverse GST orders weaken the department’s legal position. It undersco...
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FAQs
The scheme provides a last opportunity for defaulting companies to file pending returns and financial statements with reduced penalties. It emphasizes that failure to comply within the window may lead to strict regulatory action, including strike-off.
This explains why operating a payment system without RBI approval is prohibited under law. The framework ensures only compliant and vetted entities can handle financial transactions, safeguarding systemic integrity.
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.
