The introduction of the Goods and Services Tax in India on 1 July 2017 represented one of the most significant tax reforms in the country’s […]
GST Rules for Builders: Residential Construction Tax Rates and Legal Insights
Goods and Services Tax (GST) on residential construction is an area of significant regulatory attention and policy evolution in India. It refers to the GST […]
Revised Income Tax Compliance Deadlines: Updated Due Dates You Must Know
Compliance with the provisions of the Income-tax Act, 1961, forms the backbone of tax administration in India. From filing income-tax returns and depositing tax deducted […]
Understanding Rule 6G(3): Revising Tax Audit Reports After Section 43B Payments
In professional practice, there are situations where, after the tax audit report has been issued, the assessee makes certain payments that directly affect the computation […]
GST Input Tax Credit Restrictions: Decoding Blocked Credits Under Section 17(5)
The Goods and Services Tax regime introduced in India in July 2017 brought a unified system of indirect taxation with the aim of eliminating the […]
How Deferred Tax Assets Work: Recognition Criteria and Accounting Treatment
In corporate financial reporting, deferred tax accounting plays a significant role in aligning the tax effects of financial transactions with the timing of their actual […]
How to Report Clause 21(a) Expenses in Form 3CD for Tax Audit Compliance
The Income Tax Act, 1961, requires certain categories of taxpayers to undergo a tax audit to ensure accuracy and compliance in their financial reporting. The […]
CBDT Grants Relief to Cooperative Societies with Late ITR Filing Under Section 80P
The Indian taxation system recognizes the unique nature of cooperative societies, offering them certain exemptions and deductions under the Income Tax Act, 1961. One of […]
Understanding Capital Structure in Financial Management for Business Success
A company’s financial management encompasses a wide range of strategic decisions, but one of the most critical is determining its financial and capital structure. This […]
Senior Citizen Savings Scheme: Latest Interest Rates, Eligibility, and Benefits Explained
The Senior Citizen Savings Scheme is a government-backed investment option that aims to provide financial security to retirees through steady interest income and capital protection. […]
Independent Directors Under Companies Act, 2013 – Risks of Non-Compliance
The Registrar of Companies in Jaipur issued an adjudication order in April 2023 against a company, its managing director, and the company secretary. The penalty […]
Examining the Legitimacy of Prosecution Provisions Under GST
A significant legal battle is currently unfolding before the Supreme Court concerning the constitutional validity of arrests made under the Goods and Services Tax framework. […]
MCA Updates AOC-4 XBRL Format: Mandatory CSR Disclosure and Signed Financial Statements Introduced
The Ministry of Corporate Affairs (MCA) has recently introduced significant amendments to the filing requirements for companies through the revision of Form AOC-4 XBRL. This […]
Understanding Non-Compete Fees: Ongoing Competition and Its Legal Characterisation
Non-compete fees represent payments made as consideration for entering into agreements that impose restrictions on a party’s ability to compete. Essentially, one party agrees not […]
Regulatory Compliance Requirements for Listed Companies Under the Companies Act
The Companies Act, 2013, which came into force in 2014, significantly increased the compliance requirements for all types of companies. This includes Private Limited Companies, […]