The judgment rejected the practice of assigning a nil arms length price merely because a taxpayer reported financial losses. The court emphasized that transfer pricing rules focus on pricing, not profitability.
Stock audits are fundamentally different from statutory audits and must be treated as special purpose assignments. The article explains how this classification impacts scope, reporting, ethics, and auditor liability.
SEBI is increasingly focusing on AI-powered investment advisory and research platforms in India. The article explains why fintech firms and registered advisers remain legally responsible for AI-generated financial recommendations.
Rising global debt, inflation, and gold narratives are creating anxiety in corporate boardrooms. The article explains why finance professionals must distinguish evidence-backed risks from speculative market predictions.
Tamil Nadus rising debt is not just about borrowing but about decades of recurring deficits and welfare spending. The analysis highlights why only six surplus years in two decades raise concerns over fiscal management.
The article explains the legal requirement for organisations with 10 or more employees to establish an Internal Complaints Committee under the POSH Act. It highlights employer obligations, inquiry procedures, and penalties for non-compliance.
The article explains how taxpayers often wrongly assume that housing loan loss benefits remain available under the new tax regime. It highlights important differences between old and new regime treatment in ITR-1.
The article explains how seemingly simple questions in ITR-1 can create major confusion for taxpayers. It highlights practical issues relating to tax regime selection, Form 10-IEA, and salary reporting.
This article explains which companies must appoint Key Managerial Personnel under Section 203 of the Companies Act, 2013. It highlights compliance thresholds, required positions, and governance obligations for listed, public, and private companies.
The ITAT Mumbai held that alleged accommodation entry operators cannot be taxed on the entire turnover amount. The Tribunal ruled that only the commission element embedded in such transactions, estimated at 1%, can be treated as taxable income.
