New Ind AS 1 rules (2025) mandate current/non-current liability classification based strictly on rights at the reporting date, ignoring post-period waivers.
Overview of deductions under salaries, house property, business, capital gains, other sources, and 80C-80G contributions for AY 2026-27. Limits and eligibility explained. (200 Char)
CBDT’s Benami Transactions Informants Reward Scheme offers up to Rs. 1 crore for specific information on Benami properties. Covers eligibility, reward process (interim/final), and confidentiality measures.
Sections 54 to 54GA allow capital gains exemptions if sale proceeds are reinvested in specific assets. These cover residential property (Sec 54/54F), agricultural land (Sec 54B), compulsory acquisition (Sec 54D), and notified bonds (Sec 54EC/54EE). Reinvestment time limits and withdrawal rules apply.
Overview of exemptions and allowances for salaried employees, taxpayers, and businesses under various Income Tax provisions for AY 2026-27, including salaries, house property, business, capital gains, and other sources.
Section 194IA of the Income Tax Act mandates buyers to deduct 1% TDS on property transfers exceeding ₹50 lakh. The 2025 amendment includes incidental charges and considers the total value in joint ownership for TDS applicability.
A Supreme Court ruling classifying homebuyers with buyback/assured returns as ‘speculative investors’ bars them from IBC relief, exposing real estate contract unfairness.
Rajasthan’s 2024 amendment to Rule 181 empowers registrars to cancel property registrations obtained through fraud. The law now mandates administrative action without court orders.
Summarizing the difficulties, expenses, and delays caused by signature mismatch in financial transactions and proposing common, practical guidelines for all authorities to follow.
IBBI removes ‘sale as a going concern’ from the IBC liquidation framework. The change aims to end prolonged insolvency, boost creditor recovery, and enforce clear, efficient closure.
