The error arises when rejected TDS entries are not amended by the deductor. Correcting the entry through Table 4 of GSTR-7 resolves the issue.
This article explains how Section 9 exempts certain foreign exchange holdings from repatriation duties. The key takeaway is that RBI-prescribed limits and conditions determine when retention is lawful.
Income tax exemptions, GST clarifications, and penalty rulings dominated the week. Courts and authorities reinforced substance over form in compliance matters.
This article explains the revised ₹25 lakh exemption limit under Section 10(10AA). The key takeaway is that while the benefit is clear for recent years, earlier cases require careful legal evaluation.
Joint Venture Disputes Between Landowner and Developer Fall Outside the Ambit of RERA: MPREAT in Bhopal Development Authority vs. Roop Laxmi Singh (2026) The Madhya Pradesh Real Estate Appellate Tribunal (MPREAT), in its decision dated 08 January 2026 in Bhopal Development Authority v. Roop Laxmi Singh, has authoritatively clarified that disputes arising out of joint […]
This article explains why agricultural income lies outside the Income-tax Act and how constitutional provisions grant exclusive taxing powers to States. It highlights the practical limits of this exemption through judicial interpretation.
The Court held that a genuine buyer cannot lose ITC merely because the seller failed to deposit tax. The key takeaway is that liability must fall on the defaulter, not the innocent purchaser.
The new Income Tax Act, 2025 reshapes compliance from 1 April 2026 without changing tax rates. Businesses must realign systems, processes, and teams to avoid transition risks.
Treating all works contracts as services at 18% ignores their composite nature. The key takeaway is that uniform taxation can penalise material-heavy and merit-based projects.
Section 107(6) of the CGST Act enforces a fixed pre-deposit for appeals. The key takeaway is the growing concern that rigid uniformity may undermine access to justice in high-value disputes.
