08 Jul, 2025
Rajasthan Housing Board gets income tax exemption under Section 10(46A) CBDT has notified income tax exemption to Rajasthan Housing Board under the newly inserted Section 10(46A) of the Income-tax Act, 1961. This exemption applies from Assessment Year (AY) 2024–25 onwards, subject to specific conditions. Let’s break it down for Indian taxpayers, professionals, and consultants. What […]
Read More08 Jul, 2025
How a CA Ran a ₹750 Crore Scam Using Shell Firms Fake loan app scam cases are on the rise, but this ₹750 crore scandal allegedly operated by a chartered accountant has shocked even seasoned investigators. The accused reportedly floated over 100 shell firms, routed funds from Chinese fintech players, and bypassed tax compliance laws […]
Read More08 Jul, 2025
Intro Paragraph:When no chargesheet or complaint is filed for years after a taxpayer or assessee is granted bail, the law stands with the individual. In a recent case, courts have clarified that bail cannot be cancelled merely due to prolonged investigation without formal prosecution. This protects individuals from endless harassment. Bail Cancellation in Tax Offences: […]
Read More08 Jul, 2025
Intro:Time barred income tax appeal by just one day? The Income Tax Appellate Tribunal (ITAT) recently ruled that such minor delays shouldn’t block justice. In a landmark case, ITAT pulled up the National Faceless Appeal Centre (NFAC) for dismissing a taxpayer’s appeal as “time-barred” by a single day. Background: Appeal Dismissed by NFAC for One-Day […]
Read More08 Jul, 2025
25% Penalty Relief Under Section 78 of GST: What the CESTAT Ruled Reduced penalty under Section 78 of GST is now firmly backed by a CESTAT ruling, offering major relief to taxpayers who pay up within the 30-day window. In a recent case, the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) clarified that if […]
Read More08 Jul, 2025
Intro:The GST compliance overhaul from July 2025 will reshape how Indian taxpayers file returns, claim ITC, and handle invoice reporting. CBIC’s latest circulars and portal changes are part of a broader push for stricter compliance, real-time data tracking, and AI-enabled scrutiny. What’s changing from July 2025? The 53rd GST Council Meeting and recent CBIC updates […]
Read More08 Jul, 2025
Supreme Court Tax Appeals: Key Changes in Clause 368 Explained Clause 368 of the Income Tax Bill, 2025 has proposed a significant overhaul to how Supreme Court tax appeals are handled. This clause aims to replace Section 262 of the Income-tax Act, 1961 — which currently governs such appeals — and introduces fresh procedural safeguards […]
Read More08 Jul, 2025
Clause 366 of Income Tax Bill 2025: What Majority Decision Means Clause 366 of the Income Tax Bill, 2025 reaffirms the majority decision clause already present in the existing Income Tax Act under Section 260B. While it may seem like a copy-paste job, this provision plays a crucial role in dispute resolution when income tax […]
Read More08 Jul, 2025
Intro Paragraph:The MCA V3 portal forms migration now covers 38 company e-forms under Lot 3. With this change, corporate users must adapt to revised filing processes, DSC rules, and updated annual compliance workflows. Here’s a simplified breakdown with official FAQs and expert tips to stay compliant. What is the MCA V3 Portal Migration? The Ministry […]
Read More08 Jul, 2025
EPFO Interest Taxation: Year of Credit or Accrual? Many taxpayers are confused about EPFO interest taxation, especially when the interest is credited late — often years after it accrues. The key dilemma: Which year should you pay tax in — when the interest is earned (accrual) or when it hits your EPF passbook (credit)? Let’s […]
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