The article explains how constitutional safeguards prevent illegal, discriminatory, and oppressive taxation by authorities. It highlights the role of Articles 14, 19(1)(g), and 265 in protecting businesses against misuse of taxing powers.
The article explains that companies need a balanced mix of Executive, Non-Executive, and Independent Directors for effective governance and better decision-making. It highlights how proper Board composition supports long-term business success.
The article clarifies that ASISSE notices derive authority from the Collection of Statistics Act and not from Section 405 of the Companies Act, 2013. It explains the legal distinction and compliance implications for companies and LLPs.
The weekly roundup covers important Supreme Court rulings, GST advisories, RBI amendments, SEBI consultation papers, and insolvency law developments. The key takeaway is the growing focus on digital compliance and regulatory oversight across sectors.
The Income Tax Act 2025 has overhauled the 1961 law by introducing new section numbers, a unified “Tax Year,” and simplified compliance structures. The article explains the key renumbered provisions taxpayers must now remember.
The article explains how rising oil prices, inflation, and economic uncertainty are affecting salaried individuals, farmers, traders, and businesses. It highlights the importance of tax planning, liquidity management, and compliance discipline.
Social media creators earning from YouTube, Instagram, sponsorships, and affiliate marketing must report income as professional business income under Code 16021. The guide explains GST, TDS, presumptive taxation, and compliance rules for creators.
The Income Tax Act 2025 introduces mandatory reporting of high-value gifted immovable properties exceeding ₹45 lakh. The amendment significantly expands the SFT framework and increases scrutiny of property transactions without consideration.
The High Court ruled that a transit State cannot impose GST penalties on goods merely passing through its territory when no tax liability arises there. The judgment clarifies limits on State GST powers in interstate transportation cases and protects taxpayers from multiple penalties across States.
The ITAT Surat held that agricultural land qualifies as “immovable property” under Section 56(2)(x) since the provision covers “any land or building or both.” The Tribunal ruled that purchases below stamp duty valuation may attract tax on the differential amount.
