The new Form 121 merges earlier forms into a single declaration system for TDS exemption. It simplifies compliance while ensuring accurate reporting through digital processes and UIN tracking.
The company relied on old resolutions for ongoing related party transactions. The authority held that fresh approvals are mandatory, imposing penalties for non-compliance.
The government introduced new PAN forms to simplify application procedures and reduce errors. The update ensures better user experience and improved verification processes.
The CCPA held that charging LPG or fuel surcharges separately is an unfair trade practice. Such costs must be included in menu prices, and separate recovery from consumers is not permitted.
The Court held that membership cannot be granted where the underlying flats do not exist and are merely refuge areas. It ruled that agreements for such spaces are invalid and cannot confer membership rights, restoring the earlier rejection order.
The bill proposes extensive amendments across corporate laws, including LLPs, audits, and director regulations. It aims to improve transparency, simplify compliance, and strengthen enforcement mechanisms.
The law restricts TDS corrections to a limited window ending 31 March 2026 for past years. Missing the deadline may result in permanent loss of tax credit.
Insight Instruction No. 90 identifies high-risk non-filers through advanced data matching tools. Officers are guided to verify and initiate action based on risk indicators.
This article explains major updates replacing the 1962 Rules from April 2026. The key takeaway is simplified compliance with enhanced exemptions and revised tax provisions.
MPTCA urges the Finance Ministry and CBDT to reconsider the proposed late fee for delayed tax audit reports in the Finance Bill, 2026, citing disproportionate burden.
