The authority penalized the company for failing to ensure minutes were signed by the Chairman as required. It held that deviation from prescribed procedure violates statutory compliance norms.
ICSI highlighted ambiguity between Section 9A and state laws causing confusion in stamp duty collection. It urged clarification to prevent compliance risks and disputes.
The issue concerns whether penalties can be imposed when notices are returned undelivered. It was emphasized that without proper service and verification, proceedings are invalid and violate natural justice.
The Commission dismissed allegations of anti-competitive conduct as no evidence under Sections 3 or 4 was established. It held that regulatory violations fall outside competition law and must be addressed under other statutes.
The update addresses repetitive annual KYC filings for directors. It allows filing once every three years, significantly reducing compliance burden while maintaining regulatory oversight.
AAR held that flats given free to society members are not truly free but exchanged for development rights. Such transactions qualify as supply under GST and attract tax accordingly.
The issue was whether parents-in-law can claim maintenance from a daughter-in-law. The Court held that the law does not include parents-in-law within eligible categories. The key takeaway is that maintenance rights are strictly limited to statutory provisions.
Income Tax India, through its X account post dated 30.03.2026, has clarified the applicability of tax deduction at source (TDS) on interest under Section 194A of the Income-tax Act, 1961, and its corresponding provisions under the Income-tax Act, 2025. It reiterates that banking companies are not required to deduct TDS where interest does not exceed […]
The issue was lack of uniformity in financial reporting across insurers. IRDAI mandated Ind AS-based reporting to enhance comparability and transparency. The key takeaway is adoption of globally aligned accounting standards.
Major updates across Income Tax, GST, SEBI, RBI, and Customs highlight new exemptions, compliance rules, and digital reforms. The key takeaway is increased regulatory scrutiny with simplified processes for businesses.
