News & Judgements

In a recent Supreme Court ruling, it was determined that insolvency proceedings against a corporate guarantor do not impede a creditor's ability to file a Corporate Insolvency…

The Authority for Advance Rulings AAR has ruled that GST does not apply to amounts recovered from employees for canteen facilities provided by an employer. This decision is based…

The ITAT ruled that service tax does not apply to payments made for certification services provided by foreign entities if these entities do not have a fixed place of business in…

In a recent ruling, the Andhra Pradesh High Court emphasized that non-conversancy in Hindi should not impede the appeal process. The court directed the authorities to provide the…

The Goods and Services Tax Network GSTN has introduced an online refund processing form specifically for the Canteen Stores Department CSD . This new feature aims to streamline…

The AAR Authority for Advance Rulings has confirmed that GST Input Tax Credit ITC is eligible for canteen services provided to factory employees. The decision was made on the…

The Gauhati High Court ruled that interest cannot be levied under the Assam General Sales Tax Act if there is no taxable due. This decision arose from a case where the tax…

The Kerala GST Department has issued a clarification on handling scrutiny notices under Section 61 of the GST Act. This clarification specifies that notices for scrutiny should be…

The Orissa High Court has granted a GST assessee another opportunity to file a reply to a show cause notice SCN after the original order was passed ex-parte. The assessee failed…

The AAR Authority for Advance Ruling ruled that Input Tax Credit ITC on GST charged for employee canteen facilities is available, but only for employees and not for contract…

The Kerala High Court ruled that a tax credit under the Kerala Value Added Tax KVAT Act cannot be denied solely because the Travancore Devawom Board was not registered under the…

The article from Taxscan discusses a recent ruling by the Authority for Advance Rulings AAR stating that Input Tax Credit ITC is available on food and beverages provided as…

According to a recent SEBI report, 70% of individual intraday traders in the equity cash segment incur losses. The Securities and Exchange Board of India SEBI conducted a…

The CBDT Chairman confirmed that there will be no extension of the ITR filing deadline. The Income Tax e-filing portal is now functioning properly after recent technical issues…

The Andhra Pradesh High Court recently ruled on an appeal involving accounts and audit fees. The court approved the payment of accounts and audit fees based on a clean audit…

The Andhra Pradesh High Court allowed a company in liquidation to file half-yearly accounts under Section 462 of the Companies Act. The court noted the absence of adverse comments…

Effective October 1, 2024, new Tax Deducted at Source TDS rules will apply to Floating Rate Savings Bonds. Under these rules, the TDS rate on interest earned from these bonds will…

From April 2025, the amendment to Section 37 of the Income Tax Act will disallow deductions for settlement amounts paid to resolve legal contraventions. This change aims to…

The proposed amendment to Section 55 of the Income Tax Act clarifies the cost of acquisition for equity shares obtained through offers for sale OFS and initial public offerings…

Starting from October 1, 2024, payments under Section 194J of the Income Tax Act, which covers fees for technical and professional services, will be excluded from the scope of…

The amendment to Section 198 of the Income Tax Act now requires the inclusion of foreign taxes paid or payable in the total income calculation for Indian tax purposes. This change…

The Budget 2024 proposes an amendment to curb the misuse of life insurance expense deductions. Currently, Section 44 of the Act and Rule 2 of the First Schedule allow life…

The Income Tax Department has issued a clarification regarding the cost of acquisition for properties acquired before April 1, 2001, under the new capital gains tax regime.…

The Finance Act 2024 revises TDS provisions for the transfer of immovable property. Key changes include amendments to Section 194-IA of the Income Tax Act, raising the TDS…

Effective January 1, 2025, amendments to Section 206C 1F of the Income Tax Act will mandate a 1% Tax Collected at Source TCS on the sale of luxury goods exceeding ₹10 lakh. This…

Starting April 1, 2025, Section 194T mandates TDS on payments exceeding ₹20,000 annually by a partnership firm to its partners for salary, remuneration, interest, bonus, or…

The amendment to Section 47 of the Income-tax Act, effective April 1, 2025, clarifies that capital gains tax will not apply to transfers of capital assets under a gift, will, or…

Starting April 2025, rental income from residential properties must be reported under "Income from House Property" instead of "Profits and Gains of Business or Profession." This…

The Finance Act 2024 introduces significant changes to Securities Transaction Tax STT rates, impacting trading in futures and options. The key amendments include a 25% hike in STT…

The Indian government has revised tax regulations for the buy-back of shares by domestic companies, effective from July 5, 2019. Under the new rules, any income arising from the…

The Jharkhand High Court recently ordered the refund of Tax Collected at Source TCS from a taxpayer due to its unjustified collection. The court ruled that the TCS collected by…

Microsoft's World of Warcraft development team, employed by Activision Blizzard, is moving to unionize. This decision follows significant worker dissatisfaction over workplace…

The Allahabad High Court recently addressed a PIL filed by Amitabh Thakur challenging the central government's decision to designate November 26 as "Samvidhaan Hatya Diwas"…

In the GM mustard case, Justice Nagarathna criticized the lack of transparency in the biosafety dossier, which was not made public. She emphasized that the public’s right to…

The article examines the complexities and challenges in handling GST anti-profiteering cases, focusing on how authorities address these issues with varying transition timelines.…

The ITAT has ruled to delete an addition of ₹69 lakh made by the Income Tax Department, which was based on cash sales claimed before the business officially commenced. The…

India's MSME sector has rebounded to contribute 30% to the country's GDP, but this is still below pre-COVID levels. Government data reveals that while the sector has shown…

The Delhi High Court recently issued a stay on Netflix's release of the show “Tribuavan Mishra: CA Topper,” which allegedly infringes on intellectual property rights. The…

Indian banks are increasingly selling retail loan portfolios to manage their finances, as deposit growth lags behind loan disbursements. This trend allows banks to offload…

The Kerala High Court has questioned the state’s Tourism Department regarding the use of backlit boards on dignitaries' vehicles. The court raised concerns about whether these…

The Karnataka High Court has expressed deep concern over the widespread female foeticide in Mysuru and Mandya districts. This issue, highlighted during ongoing cases, points to a…

The Securities and Exchange Board of India SEBI has advised stock exchanges to exercise greater caution when approving initial public offerings IPOs from small and medium…

HDFC Life Insurance's share price has seen fluctuations throughout July 25, 2024. Initially, shares experienced volatility due to market sentiments, but later stabilized with…

Hyundai India Insurance Broking HIIB has partnered with the TSL Foundation to launch a "Smart Classrooms" digital infrastructure project. This initiative aims to enhance…

Telangana's 2024 budget includes an increase in the state’s contribution to the Pradhan Mantri Fasal Bima Yojana PMFBY , the national crop insurance scheme. The state will cover…

Bajaj Allianz General Insurance has successfully processed its first claim through the National Health Claim Exchange NHCX platform. This milestone highlights the efficiency of…

Ola Electric is preparing for an initial public offering IPO estimated to raise $740 million, with the company targeting a valuation between $4.4 billion and $4.25 billion. The…

The article from Economic Times discusses the potential impact of a proposed increase in capital gains tax on the Indian stock market. According to Nomura, this tax hike could…

The Indian stock market's Nifty 50 index has dropped nearly 3% from its peak, with predictions suggesting it could correct by up to 10%. Five factors contribute to this potential…

A recent report reveals that a significant Microsoft tech outage, costing ₹4,185 crore, severely impacted various sectors, notably airlines, banks, and healthcare. The disruption,…