The issue highlights that automated messages questioning donation deductions lack clarity on mismatches, forcing donors to revise returns without knowing the actual defect.
During the week of 8–14 December 2025, multiple regulatory authorities issued significant rulings, amendments, and clarifications across GST, customs, foreign trade, securities, insolvency, banking, and allied laws, though no updates emerged under income tax or MCA. GST developments were dominated by High Court and AAR rulings clarifying time limits on provisional attachment, tax rates, input […]
The Supreme Court held that non-compete payments facilitating efficient business operations are deductible under section 37(1) when no capital asset or profit-making structure is created.
The Supreme Court held that leasing residential property for use as a student or working-professional hostel qualifies for GST exemption. The ruling confirms that long-term residential use, not the lessee’s personal occupation, is decisive.
Learn how marginal relief prevents disproportionate tax liability when your income slightly exceeds a surcharge threshold, ensuring fairness in taxation.
Explore how AI-assisted vibe coding transforms audits, tax compliance, and professional drafting, boosting efficiency and accuracy for Chartered Accountants in the digital era.
The IBC legally ensures RP independence, but practical constraints like CoC-controlled fees and appointments often limit autonomy, affecting both perception and execution of duties.
This article provides a comprehensive practical guide to correctly reporting exempt, nil-rated, and non-taxable supplies in GSTR-9 for FY 2024–25, while highlighting common mistakes taxpayers make. It explains how different types of supplies—B2B, B2C, exports, SEZ transactions, LUT supplies, RCM supplies, credit/debit notes, and amendments—should be classified and reported primarily in Tables 5A to 5F. […]
The Tribunal held that depreciation claims requiring factual verification cannot be disallowed through prima facie adjustments under section 143(1).
The Supreme Court ruled that residential GST exemption applies where end use is residential, even if a company sub-leases the property. Sub-leasing alone does not trigger GST.
