Delhi High Court held that a GST evasion informer has no legal right to claim a reward, noting such grants are discretionary and not enforceable through writs.
CESTAT Chandigarh ruled that Punjab Cricket Association was not liable for service tax on a tournament subsidy received from Procam International. The Tribunal held the payment related to sponsorship services, where tax liability rests with the recipient. The service tax demand was set aside.
Section 56(2)(viib) taxes excess share premium received by closely held companies over fair market value, except in cases of eligible start-ups and specific venture capital investments. Not applicable from AY 2025-26.
Section 194-IB mandates Individuals and HUFs to deduct 2% TDS on rent exceeding ₹50,000 per month. Know provisions, due dates, exemptions, penalties, and compliance for deduction, deposit, and filing under this section.
Section 194Q mandates 0.1% TDS by buyers on goods purchases exceeding ₹50 lakh from resident sellers if turnover crosses ₹10 crore. Learn key provisions, exemptions, compliance rules, and penalties.
Explore how ultra vires and indoor management doctrines evolved under the Companies Act 2013, balancing corporate flexibility with accountability.
This guide explains common reasons for ITR delays, including mismatches, pending demands, and verification checks, and outlines the expected processing timeline and interest on delayed refunds.
CBIC revises GSTR-9 Tables 8A & 8B for FY 2024–25 via Notification 13/2025, clarifying which invoices and ITC types auto-populate to reduce mismatches and future GST disputes.
ITAT held that the Assessing Officer made a ₹50 lakh addition solely on estimation without any supporting material, and deleted the addition as no evidence linked the assessee to alleged bogus share transactions.
ICAI’s proposal for optional joint ITR for couples faces hurdles in policy, technology, and administration. Here’s why the government remains hesitant.
