Many taxpayers wrongly assume paying GST on sale value is sufficient when selling capital goods. The law requires comparing reduced ITC with transaction tax, and failure leads to tax demands and interest liability.
Learn why GST law restricts transfer of cash balances involving SGST and Cess under PMT-09. Understand permitted routes and how to stay compliant while optimizing cash flow.
The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verification and compliance mechanisms to prevent revenue loss.
The policy limits AI to administrative and research roles while prohibiting its use in judgments or legal reasoning. It reinforces that judges must retain full responsibility for decisions to preserve fairness and constitutional values.
This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professionals understand practical implications and adapt to the updated tax regime.
The chart outlines revised TDS and TCS rates across salary, interest, contracts, and transactions. It highlights applicable rates, thresholds, and key compliance points for the financial year.
A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing limits could speed up appeal disposal and reduce backlog.
The case examined whether the accused could disprove liability under Section 138. The court upheld conviction as the presumption remained unrebutted and evidence supported the complainant’s claim.
The issue involved inconsistent practices by banks in accepting coins and defective notes. RBI held that all branches must provide free exchange services without refusal, reinforcing customer rights and compliance obligations.
The ROC penalized the company for not appointing an Independent Director from the IICA databank. The ruling highlights strict compliance requirements under Section 150(1) of the Companies Act.
