Learn about key income tax benefits, exemptions, and filing relaxations available to senior and very senior citizens under the Income Tax Law for FY 2025-26.
Understand when NRIs must file Indian income tax returns (ITR), key exemptions, and the impact of residential status (ROR, RNOR, NR) on income taxability in India. Learn about TDS rates and the tax status of NRE/NRO account interest.
Learn about various types of income tax assessments under Sections 143, 144, and 147, their procedures, time limits, and taxpayer rights under the Income Tax Act, 1961.
Andhra Pradesh High Court rules GST’s two-year limitation under Section 54 does not apply to refunds for tax mistakenly paid on exempt services, citing Article 265.
Chartered Accountants are critical in arbitration as expert witnesses and arbitrators. Their financial expertise helps resolve complex disputes like valuation, settlements, and accounting irregularities efficiently.
Delhi HC validates GST searches under Section 67 if ‘reason to believe’ is documented, but mandates strict privacy safeguards for electronic data and CCTV.
CBIC’s Fourth Amendment Rules, 2025 introduce Rules 9A and 14A, mandating 3-day electronic GST registration and an optional scheme for small taxpayers with low B2B output tax liability.
Clubbing of income rules (Sections 60-64) in tax law prevent income diversion. Covers transfer of income without asset, revocable transfers, spouse/minor child income, and assets transferred to spouse/daughter-in-law without adequate consideration.
New CGST Rule 14A offers fast B2B registration for small taxpayers but is structurally flawed. The threshold based on tax liability, strict withdrawal conditions, officer discretion, and lack of system alerts create high compliance risks for micro-enterprises.
ROC Ahmedabad penalized a company and its directors under Section 117(2) of the Companies Act 2013 for a 215-day delay in filing the Board Resolution for the Internal Auditor’s appointment (Form MGT-14). A total penalty of Rs.1,26,000 was imposed.
