01 Aug, 2025
80P Deduction on Bank Interest: ITAT Clarifies Co-op Society Eligibility In a recent ruling, the Income Tax Appellate Tribunal (ITAT) has once again upheld the eligibility of co-operative societies to claim 80P deduction on bank interest, reinforcing an important relief available under the Income-tax Act, 1961. This ruling brings clarity on a common point of […]
Read More01 Aug, 2025
Supreme Court on Final Adjudication Orders A Substantive Safeguard The final adjudication order is not a procedural formality—it is a constitutional safeguard. This was the key takeaway from a recent Supreme Court ruling that emphasized the role of adjudication in protecting the taxpayer’s rights under the principles of natural justice. Let’s break down what this […]
Read More01 Aug, 2025
Income Tax Notice for Old Returns: What they Must Know A 75-year-old man recently received an income tax notice for a return filed 10 years ago. Naturally, this raised questions: can the I-T Department go back so far? What are the rules for reopening assessments, especially for citizens? Let’s break it down. Why You May […]
Read More01 Aug, 2025
Why GST Notices Are Being Sent to Unregistered Vendors in Karnataka Over 7,000 businesses across Karnataka have received GST notices from the state tax department. The reason? They’re operating without GST registration, despite clearly crossing the threshold limit. This crackdown is part of a larger compliance drive to plug revenue leakages and bring informal players […]
Read More01 Aug, 2025
Faceless adjudication under GST begins in Kerala The Kerala State GST Department will roll out a faceless adjudication system under GST from Friday, August 2, 2025, as a pilot initiative. This move aligns with the Centre’s larger goal of enhancing transparency, reducing personal interface, and speeding up indirect tax dispute resolution. What is Faceless Adjudication […]
Read More01 Aug, 2025
UPI Taxation Rules: What’s Changing for the Informal Sector? The UPI taxation rules are at the centre of growing unease in India’s informal economy. With increasing scrutiny of digital transactions by the Income Tax Department and GST authorities, small traders, street vendors, gig workers, and freelancers are asking — is UPI still safe for day-to-day […]
Read More31 Jul, 2025
SEBI Extends Algo Trading Deadline for Retail Safety To enhance investor protection in algorithmic trading, SEBI has extended the deadline for brokers to implement new safety measures designed to shield retail investors. These measures are aimed at increasing transparency and reducing systemic risk in the fast-growing space of algo-driven orders on Indian stock exchanges. Why […]
Read More31 Jul, 2025
Chhattisgarh HC Restores Dismissed Tax Case Against SECL In a significant development for income tax litigation, the Chhattisgarh High Court has restored an appeal previously dismissed against South Eastern Coalfields Limited (SECL) due to a procedural lapse. The Court allowed the Revenue Department 7 days to rectify defects, reinforcing that minor procedural defaults shouldn’t override […]
Read More31 Jul, 2025
Wrongly Taxed Due to Aadhaar Fraud? Here’s What the HC Said In a key judgment, the Madras High Court recently quashed tax recovery against a small-time grocer who fell victim to Aadhaar-based identity theft, offering critical legal protection for genuine taxpayers. Case Summary: PAN Misused Without Consent What the High Court Ruled The Madras High […]
Read More31 Jul, 2025
DGFT Expands GAEC Scheme for Chemical Exports The Directorate General of Foreign Trade (DGFT) has widened the scope of the General Authorisation for Export of Chemicals & Related Equipment (GAEC). This move simplifies export procedures for select chemicals listed in Appendix 10(N), allowing exporters to ship to additional countries without case-by-case approvals. This step aligns […]
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