Titanium Dioxide imported for manufacturing skin-care products like toilet soaps is excluded from ADD under NN 12/2025 and DGTR’s Final Findings, as domestic industry does not produce these products.
Stay updated on Income Tax, GST, RBI, and corporate sector notifications, circulars, and judicial rulings issued during the first week of December 2025.
Explains when director cash infusions qualify as current account transactions and why genuine business support may fall outside Section 269SS penalties.
The NUDGE campaign targets fraudulent claims under sections 80G and 80GGC, helping taxpayers voluntarily revise returns and avoid penalties.
The ROC held that depositing interim dividend in a current account instead of a separate account violates section 123(4). Monetary penalties were imposed despite subsequent compliance.
The ROC held that failure to appoint a woman director within the prescribed period violates section 149(1). Monetary penalties were imposed despite later rectification of the default.
Section 87A rebate allows resident individuals with income under specified limits to reduce their tax liability to zero, clarifying the “no tax” claim.
The Tribunal held that TCS credit cannot be denied when tax was collected from the assessee, even if the collector failed to deposit it.
Explains correct reporting of taxable turnover in GSTR-9 and highlights the key takeaway—actual annual turnover must be accurately reflected despite return mismatches.
The Department is flagging possible non-disclosure of foreign assets for AY 2025-26 using global data. The key takeaway is that timely revision can prevent penalties and future scrutiny.
