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...
Know the differences between Sections 80TTA and 80TTB of the Income-tax Act. Learn eligibility, deduction limits of Rs.10,000 and Rs.50,000, applicable income sources, and rules under the new tax regime Section 115BAC.
Section 44AA mandates books for professionals and businesses exceeding income thresholds. Details presumptive tax rules, required records, retention period, and ₹25,000 penalty.
Navigate common MCA V3 filing errors for AOC-4 (Financial Statements) and MGT-7/7A (Annual Return). Get solutions for DSC, data mismatch, sequence, and disclosure problems.
CBDT issues new compounding guidelines simplifying process, eligibility, charges, and procedures under the Income-tax Act from October 17, 2024.
Indian tax law restricts cash transactions to promote digital payments. Limits apply to expense payments (Sec 40A(3): ₹10k/day), accepting loans/advances (Sec 269SS: ₹20k limit), and receiving funds (Sec 269ST: ₹2 lakh threshold). Non-compliance results in penalties or disallowance of expenditure.
ICDS, mandatory for ‘Mercantile system’ assessees, ensures uniform taxable income computation under the Income-tax Act. These FAQs cover ICDS III (Construction Contracts), IV (Revenue Recognition), V (Fixed Assets), VI (Foreign Currency), VII (Government Grants), VIII (Securities), IX (Borrowing Costs), X (Provisions), I (Accounting Policies), and II (Inventories), detailing their scope, applicability to presumptive taxation/AMT, and required Form 3CD disclosures.
Detailed overview of penalties under various sections of the Income Tax Act, covering defaults in tax payment, reporting, documentation, and TDS/TCS compliance with prescribed penalty amounts.
Faceless Income-tax proceedings and e-assessments under Section 144B simplify taxpayer compliance. Use the e-filing portal for electronic communication, respond to notices and queries, manage outstanding tax demands (agree, disagree, pay), and file rectification requests for apparent errors.
A summary of prosecution offences under Chapter XXII of the Income Tax Act (Sections 275A to 280), detailing the rigorous imprisonment and fines for serious defaults, including wilful tax evasion, failure to remit TDS/TCS, non-compliance during search, and fraudulent property disposal.
A summary of agricultural income under Section 2(1A) of the Income-tax Act, covering rent, cultivation processes, and farm buildings. Learn about the partial tax integration regime, special rules for tea, coffee, and rubber, and the capital gains treatment for rural versus urban agricultural land.
