The Income-tax Act does not prescribe a single definition of “relative” for all purposes. Different provisions such as Sections 13, 56(2)(x), 64, 80E, and 288 adopt different meanings depending on the legislative objective.
The article explains how income tax funds healthcare, education, infrastructure, defence, and welfare schemes that benefit society. It emphasizes that paying taxes is both a legal duty and a contribution to nation-building.
Nine years after its launch, GST has unified India’s indirect tax system, digitised compliance, and expanded the tax base. The article also examines the reforms still needed to make GST more efficient.
A supplier cannot issue a GST credit note merely because the buyer has not paid the invoice. The proper remedy is to document the default and rely on ITC reversal provisions under the CGST Act.
This guide explains the penalty and prosecution framework under the Income-tax Act for AY 2026-27. It highlights the consequences of tax defaults ranging from monetary penalties to imprisonment for serious violations.
GSTN has made Ship-to GSTIN compulsory for Bill-to/Ship-to transactions from 1 August 2026. Businesses must update ERP systems and master data to avoid e-Way Bill failures and compliance issues.
Payment of GST during a Section 65 audit does not automatically invoke Section 74. The department must independently establish fraud, wilful misstatement, or suppression with evidence.
The Companies Act, 2013 requires most companies to hold four Board Meetings annually, while OPCs, Small Companies, and Dormant Companies need only two. Listed companies must also comply with corresponding SEBI (LODR) meeting requirements.
The Income-tax Act, 2025 replaces the dividend-based taxation of buy-backs with capital gains taxation for ordinary shareholders, ensuring only actual gains are taxed from 1 April 2026.
The Supreme Court ruled that summoning hotel booking records and call detail records to prove adultery does not violate privacy, as such evidence may be necessary for fair matrimonial proceedings.
