Understand how Section 54/54F applies to long-term capital gains when demolishing and reconstructing a house, with key rulings and compliance tips.
Excessive tax deductions trigger audits when claims are disproportionate to income, lack documentation, or mismatch AIS data. Taxpayers face scrutiny if claims are inflated.
A summary of the current Indian economy’s landscape, detailing its strengths, including a young workforce, strong service sector, and market growth, alongside weaknesses like low R&D funding, high import dependence on China, and persistent unemployment.
CBIC Circular 251/08/2025 clarifies GST treatment of post-sale discounts, confirming no ITC reversal on financial credit notes and defining when promotional services are taxable.
The Carriage of Goods by Sea Act, 2025 and Bill of Lading Act, 2025 mandate carrier due diligence, set liability limits, and clarify rights of consignees regarding Bills of Lading.
Section 74A of the CGST Act consolidates tax demand provisions from FY 2024-25, changing look-back periods and extending time for taxpayers to settle demands with reduced penalty.
Missing the ITR due date u/s 139(1) mandates the use of the new tax regime, as the option to choose the old regime or file Form 10−IEA is lost.
SEBI has shifted AIF co-investments from the CPMS route to new Co-Investment Vehicle (CIV) Schemes under AIF Regulations, simplifying structure and reducing costs for accredited investors.
Delhi HC rules GST searches of advocate offices and seizure of client data require strong prima facie evidence and strict judicial safeguards to protect attorney-client privilege.
Gujarat High Court granted bail in a ₹10 crore GST ITC fraud case after the accused spent eight months in custody, citing investigation completion and no flight risk.
