Rectification of Bona Fide Errors in Revised TRAN Forms (Section 140) Facts Original Filing (2017): The Petitioner, a private limited company, filed TRAN-1 and TRAN-2 in 2017 to carry forward transitional Input Tax Credit (ITC) from the Kerala VAT and CST regimes. Supreme Court Window (2022): Following the Supreme Court’s directive in Union of India… Read More »
Personal Liability of Directors for Company GST Dues (Section 89) Facts The Parties: The Petitioner is a director of M/s Trans Car India Pvt Ltd, a private limited company. The Dispute: Following an Order-in-Original issued by the DGGI, the GST department sought to recover the company’s tax dues directly from the director. The Action: The… Read More »
Bar on Remanding Cases by the First Appellate Authority (Section 107) Facts The Petitioner: A GST-registered law firm providing legal services to both domestic and foreign clients, receiving payments in convertible foreign exchange. The Claim: The firm filed for refunds of Input Tax Credit (ITC) related to the export of services made without payment of… Read More »
Promoter Share Sales: Deductibility of IPO and PMS Expenses under Section 48 In this ruling for AY 2022-23, the Tribunal addressed two critical types of costs incurred by shareholders during the sale of securities: proportionate IPO/OFS expenses and Portfolio Management Service (PMS) charges. The decision reinforces the “Net Realization” principle for computing Capital Gains. I.… Read More »
Income Tax Rules 2026 PDF DOWNLOAD Notification ENGLISH AND HINDI Income Tax Rules 2026 PDF DOWNLOAD as per govt notification MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 20th March, 2026 G.S.R. 198(E).—In exercise of powers conferred by section 533 of the Income-tax Act, 2025 (30 of… Read More »
Modification of the pecuniary limit of Additional and Joint Director of Enforcement under Notification No. S.O. 2565(E) dated 30.09.2014 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 18th March, 2026 S.O. 1397(E).—In exercise of the powers conferred by section 50 read with sub-sections (1) and (3) of section 4 of the Foreign Exchange… Read More »
CORRIGENDUM OF NOTIFICATION NO 20 OF 2026 MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDUM New Delhi, the 16th March, 2026 INCOME-TAX G.S.R. 189(E).— In the notification of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), published in the Gazette of India, Extraordinary, Part… Read More »
Government and RBI Strengthen Measures Against Fraudulent Loan Apps Regulatory framework, Digital Lending Apps (DLA) directory and cybercrime reporting mechanisms strengthen consumer protection in digital lending Posted On: 17 MAR 2026 4:44PM by PIB Delhi Reserve Bank of India (RBI) had constituted a Working Group on Digital Lending including lending through Online Platforms and Mobile… Read More »
ICAI Handbook: Navigating Global Tax Frameworks and Digital Economy Challenges in the Modern Era The Institute of Chartered Accountants of India (ICAI) has released a comprehensive study titled “Handbook on Taxation of Digital Economy,” designed to address the complex tax challenges arising from the rapid growth of digital businesses and cross-border electronic commerce. Key Highlights… Read More »
ICAI Guide: Streamlining Compliance and Key Exemptions for Private Limited Companies under Companies Act 2013 The Institute of Chartered Accountants of India (ICAI) has released a “Comprehensive Handbook on Key Compliances and Exemptions for Private Limited Companies” to assist stakeholders in navigating the regulatory framework of the Companies Act, 2013. The handbook serves as a… Read More »