Latest Articles
TDS under Income Tax Act 2025: New Sections, Same Rates, Zero Confusion
Income Tax : The new law reorganizes TDS provisions into simplified sections and forms. The key takeaway is that rates remain unchanged, but co...
ITC Cannot Be Denied for Supplier Default: Key GST Rulings Explained
Goods and Services Tax : Courts held that bona fide buyers cannot lose ITC due to supplier non-payment. The key takeaway is that liability cannot shift to ...
GST Suspension, Cancellation & Section 74: How Bona Fide Buyers are Penalised for Others’ Defaults?
Goods and Services Tax : Authorities are targeting buyers based on supplier defaults without proper verification. Courts emphasize that bona fide taxpayers...
Madras HC Rejects Plea Seeking Removal of Temple from Park Land; Imposes ₹1 Lakh Costs
Corporate Law : The Court noted that the temple was built and used by local residents for decades. It held that such collective acceptance negates...
Interplay of Income-tax, Black Money & Benami Laws: A Comprehensive Analysis
Income Tax : The ruling confirms that in matters of undisclosed foreign assets, the Black Money Act prevails over general tax provisions. This ...
Latest News
IFSCA Registers First Foreign Family Investment Fund
Finance : IFSCA approved the first foreign family office fund under its 2025 regulations. The move strengthens GIFT IFSC’s position as a g...
DGFT Reforms to Speed Up Advance Authorisation
DGFT : Commerce Ministry reforms DGFT Norms Committees to improve disposal of Advance Authorisation applications and strengthen export fa...
ICSI Seeks Refiling Option for Annual Forms Under CCFS 2026
Company Law : ICSI highlights delays in marking defective forms by RoCs under CCFS 2026. It urges MCA to mandate time-bound processing or allow ...
ICSI Seeks Clarity on ADT-1 Filing for First Auditor & Casual Vacancy Appointments
Company Law : The representation points out that e-form design is imposing requirements beyond the law. It seeks alignment of system validations...
ICSI Request MCA to permit filing of Forms during liquidation process
Company Law : The issue is ambiguity in filing authority during liquidation. ICSI has requested clarity to enable liquidators to maintain statut...
Latest Judiciary
ITAT Deletes Additions as Bogus Purchases Cannot Be Based on Suspicion Without Evidence
Income Tax : The case examined whether purchases can be disallowed when supported by documents and sales are accepted. ITAT held that estimatio...
Bombay HC Sets Aside GST Cancellation for Lack of Reasons; Bank Attachment Ends After One Year
Goods and Services Tax : GST Registration Cancellation Set Aside for Lack of Proper Reasons, Bank Account Attachment Lapses Automatically Under GST Law aft...
Telangana HC Stayed GST SCN Due to Illegal Clubbing of Sections 74, 74A & 130
Goods and Services Tax : Sections 74 and 74A operate on fundamentally different legal principles. The Court noted that their combined invocation raises ser...
ITAT Allows Full Salary Deduction Due to Acceptance of 75% Expenditure by Authorities
Income Tax : Since most salary payments were accepted, the remaining disallowance was held unjustified. Key takeaway: partial acceptance weaken...
Apply in DRC-20 for GST Payment in Instalments: Telangana HC
Goods and Services Tax : Recovery action was initiated even after partial tax payment. The Court held that instalment relief must be sought through Form DR...
Latest Notifications
RBI Restricts INR Derivative Deals with Related Parties for Authorised Dealers
Fema / RBI : The update prohibits most INR derivative contracts with related entities. Only specific transactions such as cancellations and non...
Delayed Retraction Backfires: ICAI Finds CA Guilty in Bogus Donation Tax Evasion Scheme
CA, CS, CMA : The case involved alleged facilitation of tax evasion through fake political donations. The Board held that failure to timely retr...
Penalty Imposed for Incorrect Annual Return Filing Despite Rectification Request
Company Law : Authorities held that filing incorrect statutory forms attracts penalty even if later correction is sought. The ruling reinforces ...
Penalty Imposed for Incorrect AOC-4 Filing Due to Wrong AGM Date
Company Law : The ROC penalized the company for filing incorrect AGM details in AOC-4 despite claiming it was inadvertent. The ruling confirms t...
Penalty Imposed for Incorrect AGM Date in MGT-7A and AOC-4 Filings
Company Law : The ROC penalized the company for reporting the wrong AGM date in two statutory filings. The ruling confirms that even inadvertent...
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FAQs
Overview of the Constitution (106th Amendment) Act, 2023 covering women’s reservation in Parliament and Assemblies, its scope, timeline, and conditions.
The issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with flexible usage and repatriation of funds.
The scheme allows companies to clear pending filings at reduced cost. It provides a major compliance relief with only 10% additional fees payable.
IGST refunds are not available when exports are made under LUT/Bond without tax payment. The clarification highlights eligibility conditions and prevents incorrect refund claims.
The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value, deductions, and exemptions.
