Latest Articles
10 Common Myths About the Code on Wages, 2019 Debunked
Corporate Law : This article separates misconceptions from legal realities under the Code on Wages, 2019. The key takeaway is that the reform aims...
Don’t Blindly Trust Form 16: One Small Error Can Trigger a Huge Tax Demand
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Advance Tax Provisions, Challan, e-payment Utility & Examples
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax Offences liable to prosecution
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Power of Commissioner to Reduce or Waive Income Tax Penalty
Income Tax : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...
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
Bangalore ITAT Deletes ₹1.13 Crore Cash Deposit Addition; Mere Suspicion Cannot Override Accepted Books
Income Tax : The ITAT observed that invoking the test of human probabilities cannot replace factual verification of books and bank records. Add...
No Escape from TDS on Identified Year-End Provisions; ITAT Grants Relief Where Tax Paid Before Return Due Date
Income Tax : The ITAT found that provisions for identified legal and professional expenses represented crystallized liabilities requiring TDS d...
Former Director Cannot Face Fraud Charges if Complaint Failed to Establish His Involvement: Karnataka HC
Company Law : The Karnataka High Court held that criminal proceedings under Sections 447 and 448 of the Companies Act could not continue against...
Delhi HC Refuses to Quash Case as Coal Beneficiation Issue Requires Trial Evidence
Corporate Law : The Delhi High Court held that whether coal beneficiation amounts to manufacturing involves mixed questions of fact and law requir...
NCLAT Questions CIRP Over Alleged Sham and Circular Group Transactions
Company Law : Adjudicating Authority failed to properly examine whether the transactions underlying the Section 7 application were genuine finan...
Latest Notifications
GSTAT Bars Defect Flags on Valid Appeal Documents to Ease Initial Portal Compliance
Goods and Services Tax : GSTAT instructed scrutiny officers not to raise defects where appellants have uploaded the required documents in prescribed form. ...
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 ...
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FAQs
The Code on Wages, 2019 requires that excluded salary components should not exceed 50% of total remuneration. Employers may need to restructure pay packages, increasing PF and other statutory benefit calculations while affecting take-home salary.
This guide explains the key provisions of the COFEPOSA Act, 1974 and the 1976 amendment. It highlights how the amendment strengthened preventive detention powers, extended detention periods, and modified procedural safeguards.
The Income-tax Act mandates obtaining and quoting TAN because it serves as a unique identifier for all TDS and TCS compliance obligations. The key takeaway is that non-compliance, including failure to obtain TAN or quoting an incorrect TAN, can result in a penalty of ₹10,000, making timely adherence to procedural requirements essential.
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.
