Latest Articles
Top 5 Mistakes Taxpayers Make While Filing Income Tax Return (ITR)
Income Tax : The article highlights common return filing errors, including wrong ITR forms and income mismatches, that can result in defective ...
Audit vs Investigation under GST: Why Distinction Matters More Than Ever
Goods and Services Tax : The article explains that audits and investigations serve distinct legal purposes under GST and require different taxpayer respons...
Business Valuation For Fund Raising – What Investors Look For Before Investing
Finance : The article explains that investors focus on scalability, market opportunity, and return potential rather than founders' efforts o...
Overlap of Rule 37 & 38: Correct Method of ITC Reversal to Avoid Duplication
Goods and Services Tax : The article explains how taxpayers should compute ITC reversal when both Rule 37 and Rule 38 apply. It emphasizes that duplicate r...
ESG: E is Enlightened What About S and G?
Company Law : The article explains that focusing only on environmental goals weakens ESG effectiveness. Social responsibility and ethical govern...
Latest News
ICSI Introduces World’s First Online Preferential Voting System for Professional Elections
CA, CS, CMA : ICSI announced that its 2026 elections will be conducted through an online preferential voting system, marking a global first for ...
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...
Latest Judiciary
Natural Justice Violated as Assessee’s Explanations Were Not Properly Examined Before Reopening
Income Tax : The Court emphasized that reassessment proceedings must comply with principles of natural justice by providing an effective opport...
IT Department’s Order Quashed as Giving Effect Order Was Passed Beyond Section 153(5) Time Limit
Income Tax : The Court ruled that an order passed over three years after the statutory deadline under Section 153(5) was without jurisdiction a...
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...
Latest Notifications
ROC Imposes Penalty as Incorrect AGM Due Date Was Filed in AOC-4
Company Law : ROC Mumbai penalized a director after Form AOC-4 contained an incorrect AGM due date. The order emphasizes that directors are resp...
Duplicate DIN Attracts Penalty Because Companies Act Prohibits Possessing More Than One DIN
Company Law : ROC Mumbai imposed a penalty after finding that an individual held two Director Identification Numbers in violation of Section 155...
ROC Imposes Penalty as Incorrect Director Appointment Date Was Filed in DIR-12
Company Law : ROC Mumbai penalized a Whole Time Director for filing Form DIR-12 with an incorrect CFO appointment date. The order reiterates tha...
ROC Imposes Heavy Penalty for Failure to Dematerialize Shares and Obtain ISIN
Company Law : The adjudicating authority held that an unlisted public company violated Section 29 by continuing to issue and transfer shares in ...
ROC Imposes Maximum Penalty as PAS-6 Remained Unfiled Beyond Due Date
Company Law : The order emphasizes that delayed filing may regularize compliance but does not extinguish the offence committed during the period...
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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.
