Latest Articles
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...
GST on IPL: Sport or High-Octane Entertainment — 18% vs 40%?
Goods and Services Tax : IPL franchises have contested the 40% GST rate, arguing it wrongly classifies matches as entertainment instead of sporting events....
ITR Filing FY 2025-26: Step by Step Guide for Salaried Professionals
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
GST SCNs Invalid Without Specific Allegations of Suppression
Goods and Services Tax : Explains that vague show cause notices lacking details of suppression violate legal principles. Highlights that extended limitatio...
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
CESTAT Sets Aside ₹352 Cr Service Tax Demand as Coal Mining Held ‘Manufacture’ Not Service
Service Tax : The Tribunal ruled that coal extraction and processing constitute manufacture, not mining services, making service tax demand unsu...
ITAT Upholds Section 10A Deduction Despite Wrong Section 10B Claim in Return
Income Tax : The Tribunal supported the CIT(A)s decision to allow a new claim under Section 10A, noting that appellate proceedings are a contin...
Income Tax Refund Cannot be Adjusted When Recovery Is Stayed: Orissa HC
Income Tax : The Court held that adjusting a refund against a disputed demand during the subsistence of a stay order is illegal and arbitrary, ...
ITAT Allows Fresh Opportunity for 80P Deduction Claim Due to Non-Submission of Evidence
Income Tax : The Tribunal held that deduction cannot be rejected merely due to absence of supporting evidence without examining merits. It rema...
ITAT Deletes Penalty as Both Limbs of Section 271(1)(c) Invoked Together
Income Tax : The Tribunal held that a penalty notice lacking clarity on whether it relates to concealment or inaccurate particulars is invalid....
Latest Notifications
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...
DGFT Launches Online Module Due to Issues in Manual EPCG Scrip Utilization
DGFT : The trade notice introduces an electronic system to resolve difficulties faced in using manually issued EPCG scrips. It enables se...
RBI issues consolidated directions on Digital Payments – E-mandate framework, 2026
Fema / RBI : The RBI has consolidated all previous e-mandate guidelines into a single framework governing recurring digital payments. The key t...
Family Trust Cannot Act as Mutual Fund Sponsor Under SEBI Rules
SEBI : SEBI clarified that only a body corporate can act as a sponsor under MF Regulations 2026. A family trust, not being a body corpora...
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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.
