Explains when food and hospitality expenses qualify as business deductions and outlines the tests under Section 37(1) to distinguish commercial necessity from personal spending.
A clear and practical breakdown of how deferred tax assets and liabilities are recognised under Ind AS 12 and IAS 12, with sector examples and key compliance takeaways.
The Supreme Court reaffirms that High Courts must refuse writs under Article 226 when effective alternate remedies exist. The ruling stresses scrutiny of material facts and proper justification before invoking extraordinary jurisdiction.
Analyses how multiple ITAT rulings extend the enhanced ₹25-lakh exemption to earlier years, treating CBDT’s notification as a beneficial and clarificatory reform.
Explains the strict consequences for failing to meet CSR spending and transfer obligations under Section 135. Highlights how penalties are imposed and the key compliance takeaway for companies.
Explains when high-volume, systematic trading is treated as business income and highlights major criteria, tax rates, and compliance requirements.
Explains the key differences between proprietorships, partnerships, LLPs, and private companies, highlighting liability, compliance, and funding suitability.
SC Declares Hostel/PG as Residential Dwelling – Lessee Need Not Reside: Sub-Lease Still Qualifies for Residential Exemption- Revenue’s Narrow View Rejected: Residential Use Is the Real Test- GST Exemption Restored for 2019–2022
Explains how Section 113 permits companies to authorize individuals to attend and vote at meetings through board resolutions. Key takeaway: corporate bodies participate legally only through formally appointed representatives.
Explains why returns get shifted to the Old Regime due to missed deadlines or form errors and outlines when rectification is possible.
