A free live workshop will discuss the structure and practical implications of the proposed Income-tax Act, 2025 and amendments under Finance Bill, 2026. The session aims to help professionals understand the new framework and compliance changes.
Major updates across income tax, GST, customs, and SEBI highlight compliance changes and key judicial rulings affecting taxpayers and businesses.
ROC imposed significant penalties for failing to constitute mandatory committees on time. The ruling makes it clear that delayed compliance does not excuse violations. Companies must adhere strictly to corporate governance timelines under the Companies Act
The issue involved inability to access documents leading to ex parte assessment. The Court granted interim relief by reducing the pre-deposit amount. The takeaway is that procedural fairness can influence deposit requirements.
The case clarifies that capital gains tax arises upon execution of a registered sale deed, even if payment is not received. It highlights that the right to receive consideration is sufficient to trigger tax liability.
The issue concerns exemption from TCS on purchase of specified goods. The rule allows exemption where goods are used for manufacturing and not trading. The key takeaway is proper declaration enables tax relief.
If a senior citizen earns income beyond pension and interest, the exemption is withdrawn. The ruling mandates return filing in such cases. This prevents misuse of simplified provisions.
Form 124 allows employees to declare tax-saving claims to employers. Filing ensures correct TDS calculation with eligible deductions.
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.
