28 Jun, 2025
SEBI Related Party Transaction Rules Simplified What You Need to Know SEBI related party transaction rules have been simplified in 2025 to improve transparency and ease of compliance for listed companies. The changes remove redundant promoter certifications and shift the responsibility of confirming fairness to the top officials of the company. This article breaks down […]
Read More28 Jun, 2025
Income Tax Penalty Notice Not Properly Served: What the Madras HC Said In a major relief to taxpayers, the Madras High Court recently ruled that if an income tax penalty notice is not properly served, the taxpayer must be given an opportunity to be heard before any action is taken. Let’s break this down for […]
Read More28 Jun, 2025
Superannuation Contribution Allowable if Paid Before Return Due Date: ITAT Ruling Explained Superannuation contributions by employers often raise tax deductibility questions. Recently, the Income Tax Appellate Tribunal (ITAT) clarified a key aspect: superannuation contribution allowable if paid before return due date under Section 43B of the Income-tax Act, 1961 — provided the fund is approved. […]
Read More28 Jun, 2025
How Much Tax NRIs Have to Pay on Property Sale in India Here’s a clear breakdown of NRI property sale tax rules, including TDS rates, exemptions, and how NRIs can save tax legally. Quick Summary (for Google Snippet) NRIs selling property in India must pay capital gains tax — 20% on long-term and as per […]
Read More28 Jun, 2025
RMC Transportation Is GTA Service, Not Supply of Tangible Goods: CESTAT In a significant win for the construction and logistics sectors, the CESTAT Ahmedabad Bench has ruled that the transportation of Ready Mix Concrete (RMC) qualifies as Goods Transport Agency (GTA) service under service tax, and not as “supply of tangible goods”. This classification has […]
Read More28 Jun, 2025
India’s Banking Push: More Loans, Better Service & Support for Small Businesses India’s government is urging banks to lend more, especially to small businesses and green energy projects. With strong balance sheets and rising profits, public sector banks (PSBs) have been advised to step up support for growth and improve customer experience. Here’s a simplified […]
Read More28 Jun, 2025
Disallowance of Related Party Payments What Section 40A(2)(b) Really Means The Income Tax Act, 1961, allows disallowance of related party payments if they are deemed excessive or unreasonable. But who decides what’s excessive? A recent ITAT decision clarified that unless the Assessing Officer (AO) provides solid proof, such disallowance cannot stand. Here’s a simplified breakdown […]
Read More28 Jun, 2025
GST Appeal Limitation Starts from Date of Communication Rajasthan HC This critical clarification comes from the Rajasthan High Court and is a huge relief for taxpayers who receive delayed orders. Let’s break it down. What is the Limitation Period for GST Appeals? As per Section 107 of the CGST Act, 2017, a taxpayer can file […]
Read More28 Jun, 2025
Lithium-ion Batteries for Manufacture of Mobile Phones Attract 12% IGST Lithium-ion batteries used in mobile phone manufacturing attract 12% IGST, as clarified by the CBIC. This clarification resolves ambiguity around the applicable tax rate and aligns battery supplies with concessional GST benefits under specific conditions. Let’s break it down for manufacturers, OEMs, and tax consultants. […]
Read More28 Jun, 2025
GST Rate Rationalisation: Why It’s the Top Ask from Indian Businesses GST rate rationalisation tops companies’ list of demands in 2025—and for good reason. With multiple tax slabs, inverted duty structures, and classification confusion, businesses across sectors are demanding a simpler, more logical GST regime. What Is GST Rate Rationalisation? GST rate rationalisation refers to […]
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