Corporate Law : Overview of the Constitution (106th Amendment) Act, 2023 covering women’s reservation in Parliament and Assemblies, its scope, t...
Fema / RBI : The issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with fle...
Company Law : The scheme allows companies to clear pending filings at reduced cost. It provides a major compliance relief with only 10% addition...
Goods and Services Tax : IGST refunds are not available when exports are made under LUT/Bond without tax payment. The clarification highlights eligibility ...
Income Tax : The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value,...
Finance : The Authority clarifies application process, operating models, service limits, and compliance obligations under the new GIC Regula...
Corporate Law : The India–European Union Free Trade Agreement (FTA) is a comprehensive pact covering trade in goods, services, rules of origin, ...
Corporate Law : The ruling clarifies that digital processes are encouraged but not mandatory, ensuring workers rights are protected even through p...
Company Law : The law removes sector-based exclusions and extends minimum wage protection to all employees. It confirms universal coverage acros...
Corporate Law : The FAQs explain the uniform wage definition and the 50% allowance cap across all Codes. Gratuity applies prospectively from 21 No...
Corporate Law : FSSAI introduced perpetual licenses and simplified registration norms to ease compliance. The reforms reduce costs while maintaini...
SEBI : FPIs can now apply for Digital Signature Certificates directly within the CAF portal. The move simplifies onboarding and reduces p...
Goods and Services Tax : GSTN has clarified key issues on filing annual returns through consolidated FAQs. The guidance explains ITC reporting, auto-popula...
Goods and Services Tax : ITC availed for FY 2023-24 but reversed or claimed in FY 2024-25 must be reported in Table 6A1 of GSTR-9. Reversals from prior yea...
SEBI : The notice outlines detailed guidance on filing financial results under Regulation 33, covering timelines, disclosure norms, and r...
The new Form 48 replaces Form 3CEB and mandates reporting of international and domestic transactions. It enhances structured transfer pricing compliance.
Form 47 is an accountant’s certificate required under section 166(9) for transactions meeting Rule 82 conditions and must be filed with Form 46 online.
Form 46 allows taxpayers to exercise the option for determination of arm’s length price for international or specified domestic transactions for two tax years.
Form 45 allows resident taxpayers to report settlement of foreign tax disputes and claim foreign tax credit not earlier claimed in Form 44 under the Income-tax framework.
Form 44 is an e-form for reporting foreign income and claiming foreign tax credit under the Income-tax Rules, 2026, with specified filing timelines and documents.
Form 43 is issued by the Income Tax Department to certify Indian tax residency for DTAA claims. It is essential for taxpayers seeking relief from double taxation in foreign jurisdictions.
The issue was whether DTAA benefits can be claimed without a TRC. It was clarified that Form 42 is essential to obtain a Tax Residency Certificate, without which treaty benefits may not be granted. Filing ensures compliance with cross-border tax requirements.
Form 41 is compulsory for non-residents claiming DTAA benefits on income earned in India. Without filing this form along with TRC, treaty relief is denied and higher TDS is applied. This makes compliance essential for tax efficiency.
The issue was whether tax deferral can be claimed without exercising the option. It was held that filing Form 40 is mandatory to avail relief under section 158. Without it, income may be taxed on accrual basis in India, leading to double taxation.
Form 39 must be filed to claim relief under Section 157(1) when income like arrears or gratuity is received in lump sum. It helps reduce excess tax due to income bunching and ensures correct tax computation. Filing is compulsory for valid claims.
