Judicial rulings clarify that satisfaction for initiating action against other persons in search cases must be recorded promptly. Inordinate delay in recording the satisfaction note can lead to the ...

Income from transfer of cryptocurrencies, NFTs, and other virtual digital assets is taxed at a flat 30% rate under Indian tax law. The framework also restricts deductions and disallows set-off of ...

ICAI rules restrict UDIN generation beyond 60 days of signing, making backdated financial statements invalid. Companies should prepare statements now, sign with the current date, and file pending ...

he tribunal refused to accept the appellant’s submissions regarding manpower supply service to five hotels, relying on reasons recorded in related appeals decided on the same ...

Many Companies, particularly inactive or non‑operational Companies, have not prepared their Financial Statements for several years and therefore could not hold their AGMs. With the introduction of the ...

The scheme also facilitates applications for companies wishing to become inactive or exit the registry: Web-form MSC-1: Application for obtaining ‘Dormant Company’ status. Web-form STK-2: Application ...

The proposed amendments rationalise tax provisions, simplify reporting rules, and introduce clearer deductions and exemptions. The reforms aim to improve voluntary compliance and reduce tax ...

ITAT Delhi deleted additions under Sections 68 and 69C after finding that the assessee received and repaid loans through banking channels with supporting confirmations and ...

The 2026 amendment replaces rigid interest rate ceilings with market-determined pricing. The reform expands borrowing flexibility and aligns India’s external borrowing framework with global financing ...

CESTAT Mumbai held that accumulated credit of Education Cess, SHE Cess, and KKC cannot be transitioned or refunded because these levies were not subsumed under the GST ...

The Income Tax Department conducted surveys across multiple cities after AI analysis revealed significant discrepancies between transactional data and reported income. The exercise uncovered ...

Can GST authorities freeze directors’ personal assets for company dues? Legal analysis of Sections 79, 83 & 89 CGST Act with key court ...