The Tribunal held that joint ownership alone cannot restrict Section 54 deduction where the entire source of investment for the new residential property originated from the assessee.
The Nainital Bank issued an RFP for appointment of Statutory Central Auditors for FY 2026-27 in line with RBI guidelines. The document prescribes strict eligibility conditions, evaluation criteria, and independence requirements for audit firms.
The weekly roundup covers important Supreme Court rulings, GST advisories, RBI amendments, SEBI consultation papers, and insolvency law developments. The key takeaway is the growing focus on digital compliance and regulatory oversight across sectors.
The article explains how taxpayers often wrongly assume that housing loan loss benefits remain available under the new tax regime. It highlights important differences between old and new regime treatment in ITR-1.
The article explains how seemingly simple questions in ITR-1 can create major confusion for taxpayers. It highlights practical issues relating to tax regime selection, Form 10-IEA, and salary reporting.
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.
Explore how AI is reshaping GST practice in 2026 through automation, GenAI, RAG tools and compliance workflows, while managing confidentiality and hallucination risks.
The article explains why diesel in construction businesses is treated as consumable inventory and how GST exclusion increases project costs due to non-availability of input tax credit.
The article clarifies that ASISSE notices are issued by NSO under MoSPI only for statistical data collection and have no connection with tax scrutiny or GST investigations.
The Gujarat High Court held that arrest under Section 69 of the CGST Act was valid as the petitioner had been supplied with the “reasons to believe” and grounds of arrest. The Court ruled that verbatim signed copies were not mandatory.
