Writ Jurisdiction Barred After GSTAT Becomes Functional 1. The Core Dispute: Writ Remedy vs. Statutory Appeal The petitioner challenged a demand order passed under Section 73 (for FY 2019-20) which was subsequently affirmed by the first appellate authority. At the time of filing the writ petition, the Goods and Services Tax Appellate Tribunal (GSTAT) was… Read More »
Stay on Section 74 SCN: Jurisdictional Challenge Over 1/3rd Land Deduction (2026) 1. The Conflict: Mandatory 1/3rd Abatement for Land The controversy stems from Paragraph 2 of Notification No. 11/2017-Central Tax (Rate), which imposes a mandatory deeming fiction. It requires builders to deduct exactly 1/3rd of the total consideration as the value of land, regardless… Read More »
Commencemenr of the Sabka Bima Sabki Raksh (Amendment of Insurance Laws) Act 2025 MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 3rd February, 2026 S.O. 490(E).— In exercise of the powers conferred by sub-section (2) of section 1 of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 (40 of… Read More »
Government notifies Baggage Rules, 2026. New Customs Baggage (Declaration and Processing) Regulations, 2026 and also issues a Master Circular New Rules will simplify procedures, enhance transparency, enable electronic and advance declarations and ensure smooth clearance New changes will allow enhanced general free allowance; transfer of residence benefits; special allowances for jewellery; new provisions for temporary… Read More »
Allowing deduction to non-life insurance business when TDS, not deducted earlier is paid later Part B of Schedule XIV of the Act provides for computation of profits and gains from insurance business other than life insurance. Paragraph 4(1)(a) of Schedule XIV provides that while computing the profits and gains of such business, any expenditure, allowance,… Read More »
Application of TDS on supply of manpower Section 393(1) [Table: Sl. No. 6(i)] provides for the tax deduction at source (TDS) in the case of payments made to contractors for carrying out any work. It provides for rate of deduction of 1% when payment is made to individual or HUF and 2% in other cases.… Read More »
Enabling filing of declaration for no deduction to a depository Section 393(6) of the Act provides that tax is not to be deducted at source in certain cases. As per the provisions of the said section, a written declaration is to be filed by the assessee for no deduction of tax at source to the… Read More »
Enabling electronic verification and issuance of certificate for deduction of income-tax at lower rate or no deduction of income-tax Section 395 of the Act pertains to issuance of certificates for deduction of tax at source (TDS) and tax collection at source (TCS) at nil or lower rate. 2. Sub-section (1) of the said section of… Read More »
No tax to be deducted at source in respect of interest on compensation amount awarded by Motor Accidents Claims Tribunal to an individual As per the provisions of section 393(4) [Table: Sl. No. 7, Column C (c)(iv)] of the Act, tax is not required to be deducted in respect of interest on the compensation amount… Read More »
Exemption on interest income under the Motor Vehicles Act, 1988 Exiting section 11 of the Income-tax Act, 2025 inter alia provides for the exemption of income of persons included in Schedule III subject to the fulfilment of conditions specified therein. 2. The provisions of Motor Vehicles Act, 1988 inter alia provides for compensation and interest… Read More »