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Why Congress Never Demands Accountability From Centre On Bench In Any State?

May 23, 2026 543 Views 0 comment Print

The article questions why Congress has not consistently demanded accountability from the Centre regarding creation of High Court Benches in states like Uttar Pradesh, Bihar, and Odisha. It highlights alleged regional disparities and references long-pending recommendations for new Benches.

Can a Homebuyer Be Taxed for Paying “On-Money” to a Builder?

May 23, 2026 4002 Views 2 comments Print

This case highlights that cash paid to builders as “on-money” will not automatically be treated as tax evasion if it originates from disclosed bank funds. However, buyers must prove the source with proper documentation to avoid tax additions.

Foreign Liabilities and Assets (FLA) Return

May 23, 2026 1251 Views 1 comment Print

The requirement applies if foreign assets or liabilities exist as of 31 March, even without fresh transactions. The rule ensures disclosure of outstanding FDI/ODI positions under FEMA reporting norms.

Evolution of Buyback Taxation in India: A Year-Wise Guide

May 23, 2026 723 Views 1 comment Print

The article explains the complete evolution of buyback taxation in India, highlighting how tax liability shifted between companies and shareholders across different legislative phases.

Audit Firms Face Regulatory Heat Over Proposed Cooling-Off Framework

May 23, 2026 1158 Views 0 comment Print

The article examines the proposed auditor cooling-off framework and the growing concerns within the auditing profession. It highlights the tension between strengthening auditor independence and preserving long-term professional continuity and audit effectiveness.

Reducing GST Compliance Burden: Reforms, Portal Upgrades & Tax Professionals’ Role

May 23, 2026 660 Views 0 comment Print

The article explains how simplifying GST laws, rationalising returns, and improving the GST portal can significantly reduce compliance burdens for businesses and professionals.

Right Issue of Shares: When PAS-3 Gets Filed but Real Compliance File Stays Empty

May 23, 2026 378 Views 0 comment Print

The article highlights how companies completed PAS-3 filings but failed to maintain critical Right Issue documentation such as offer letters, acceptance forms, and renunciation records. It explains why proper documentary evidence is essential for Companies Act compliance.

CBI Arrests CGST Officials Over Alleged Bribe Demand in ITC Mismatch Case

May 23, 2026 4570 Views 0 comment Print

The CBI arrested a CGST Superintendent and Inspector after allegations that they demanded bribes to resolve an Input Tax Credit mismatch and threatened GST registration blockage.

Analysis of Standardised Annexure-B Offline Utility & System-Based Adjudication

May 22, 2026 1593 Views 0 comment Print

GST Refund Annexure-B Utility: Key Challenges, GSTR-2B Validation Rules, and Legal Safeguards Explained for Exporters and Tax Professionals.

Smarter, Safer, Sharper: Harnessing Artificial Intelligence in Modern GST Practice

May 22, 2026 4854 Views 0 comment Print

Explore how AI is reshaping GST practice in 2026 through automation, GenAI, RAG tools and compliance workflows, while managing confidentiality and hallucination risks.

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