Introduction: Circular No. 15 of 2023, issued by the Central Board of Direct Taxes, offers comprehensive insights into the intricate details of the guidelines under Clause (10D) of Section 10 within the framework of the Income-tax Act, 1961. This circular takes an in-depth look at the recent amendments, critical provisions, and exemptions associated with sums […]
A comprehensive guide to various scenarios and solutions for belated, revised, defective Income Tax Returns for FY 2022-23, including penalties and provisions under the Income Tax Act.
Learn how to view and change the bank account selected for your income tax refund online. Follow step-by-step instructions to validate and nominate banks
In a case penalties were imposed by Ministry of Corporate Affairs for omitting email and phone details on a company’s letterhead under Companies Act, 2013.
In a recent announcement, the Institute of Chartered Accountants of India (ICAI) has provided a significant relaxation for students under the Old Scheme of Education and Training, aimed at addressing challenges posed by the implementation of the New Scheme of Education and Training, including the Conversion (Transition) Scheme. The relaxation pertains to three categories of […]
In an effort to enhance tax compliance and streamline reporting processes, the Income Tax Department recently sent out an SMS to individuals, addressing concerns related to certain transactions reported in Form 60/61 for the fiscal year 2021-22. The message has sparked queries and curiosity among taxpayers. In response, the Income Tax Department has issued a […]
I propose that the CGST Department consider the introduction of a mechanism to remit interest on un-utilized ITC. Much like the system implemented for income tax refunds, where interest is added for retaining tax till filing of return and claim, this approach could offer businesses a much-needed relief when faced with a scenario of accumulating un-utilized ITC.
Unveil the intricacies of patent and compulsory licensing in Saudi Arabia. Understand its importance, legal framework, and recent developments.
Ministry of Corporate Affairs has imposed a penalty of Rs. 35 lakh on Fluiconnecto India Private Limited for violating the provisions of the Companies Act, 2013 by failing to appoint a company secretary. Learn about the case and penalties in detail.
Fluiconnecto India Private Limited faces a ₹35 lakh penalty from MCA for violating Section 203 of the Companies Act due to delayed company secretary appointments. Analysis and implications.
