Penny stocks, often associated with small, illiquid companies, have been a subject of concern due to their susceptibility to price manipulation. The Income tax Act, 1961, contains provisions such as Section 68 (Unexplained Cash Credits) and Section 10(38) (Exemption on Long Term Capital Gains LTCG) to prevent tax evasion through sham transactions involving these stocks.
Section 87A tax rebate on STCG led to disputes after ITD software changes. Bombay HC & CIT(A) rulings clarify eligibility. Learn about legal and tax implications.
Learn the detailed process for registering a political party with the Election Commission of India, including required documents, fees, and submission guidelines.
Supreme Court & Bombay HC uphold GST error rectification rights, ensuring ITC claims for bonafide buyers despite supplier errors, fostering fair taxation practices.
Learn about Input Service Distributor (ISD) in GST, its implementation, practical procedures, benefits, drawbacks, and compliance challenges.
Learn about Section 87A rebate applicability on short-term capital gains under the new tax regime for FY 2023-25. Explore legal challenges and taxpayer implications.
The arrest of advocate Zafar Ali highlights the urgent need for the Advocate Protection Act to safeguard legal professionals against unwarranted actions and ensure justice.
Explore key AI and data privacy legal developments in India since 2024, including the DPDP Act, TRAI rules, court cases, and global AI regulations.
Learn about FC-TRS form filing, foreign investment types, RBI compliance, and penalties for delayed reporting under FEMA regulations in India.
Learn how group travel insurance protects against trip cancellations, medical emergencies, and lost luggage. Find out why it’s essential for group trips.
