A shocking GST fraud case from Ahmedabad has highlighted the growing risks businesses face when tax compliance is outsourced without proper oversight. A 76-year-old trader is reportedly facing a tax burden exceeding ₹1.2 crore after his long-time tax consultant allegedly …
In a significant development under the Goods and Services Tax (GST) framework, the Central Board of Indirect Taxes and Customs (CBIC) is in the process of drafting rules to operationalise Section 11A of the Central Goods and Services Tax (CGST) …
Filing an Income Tax Return (ITR) is a statutory obligation for many taxpayers in India. While the process has become more convenient with online filing facilities, taxpayers often make avoidable mistakes that can lead to notices, delayed refunds, additional tax …
In a significant move aimed at strengthening India’s debt market and attracting greater foreign investment, the Government of India has promulgated the Income-tax (Amendment) Ordinance, 2026, granting a complete exemption from capital gains tax and interest income tax on investments …
The remarkable rise of young cricket sensation Vaibhav Sooryavanshi has captured the attention of cricket fans and financial experts alike. At just 15 years of age, the IPL star has reportedly accumulated wealth worth nearly ₹7 crore through cricket contracts, …
Notification No.: 70/2026/F.No. 500/Misc./S10(23FE)/FT&TR-II Date: 1 June 2026 The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), has issued Notification No. 70/2026 specifying certain infrastructure sub-sector businesses as eligible entities under the Income-tax Act, 2025. Legal Authority This …
The Central Board of Direct Taxes (CBDT), vide it’s Letter bearing F.No. 225/26/2026-ITA.II, dated May 29, 2026, issued a firm directive aimed at ensuring uniformity in the treatment of unexplained cash credits, investments, assets, borrowings and expenditures across all direct tax field …
The introduction of Form 164 under Section 507 of the Income-tax Act, 2025 has brought a new layer of compliance for professionals operating in the entertainment and events industry. This includes film producers, OTT content creators, sports event organizers, and event management …
In an increasingly globalized world, high-earning professionals like IITians are constantly evaluating where their income delivers the best value—not just in numbers, but in quality of life. A recent viral story about a 34-year-old IIT graduate and software architect has …
In a significant development for taxpayers and professionals, the Central Board of Direct Taxes (CBDT) has released a crucial corrigendum to the newly notified Income Tax Rules, 2026. Issued through Notification No. 64/2026 [G.S.R. 286(E)] dated April 16, 2026, the …
India’s direct tax landscape is undergoing a historic transformation with the introduction of the Income Tax Act, 2025, set to take effect from April 1, 2026 (FY 2026–27). Replacing the decades-old Income Tax Act, 1961, the new legislation aims to simplify …
The Indian audit landscape is on the cusp of a significant regulatory shift. The recently proposed Corporate Laws (Amendment) Bill, 2026, currently under the scrutiny of a Joint Parliamentary Committee (JPC), signals a clear intent from the government to tighten …
The introduction of the Income Tax Act, 2025 marks a significant transformation in India’s taxation framework, particularly in the area of Tax Deducted at Source (TDS). For decades, professionals and businesses have navigated a complex web of multiple TDS provisions under the …
A brewing crisis over LPG supplies in Maharashtra has reached the doors of the Bombay High Court. The Nagpur Bench recently flagged a “serious issue” following a petition that claims domestic gas is being shipped abroad while local kitchens and businesses …
The Bench-Bar Consensus: High Courts Rally Behind Practice Mandate In response to the Supreme Court’s request for feedback, ten High Courts—including Delhi, Gauhati, Odisha, and Chhattisgarh—have filed submissions supporting the mandatory three-year bar practice requirement. Uniformity is Key: The Delhi High Court emphasized the …
In a recent regulatory disclosure, Polycab India Limited informed stock exchanges that it has received an income tax assessment order raising a demand of approximately ₹327.45 crore for the Assessment Year (AY) 2024-25 (corresponding to FY 2023-24). The order has …
The Delhi High Court has scheduled March 9, 2026, to hear a revision petition filed by the Central Bureau of Investigation (CBI) challenging the discharge of former Delhi Chief Minister Arvind Kejriwal, former Deputy CM Manish Sisodia, and 21 others …
Under Part III of the Constitution of India, Article 20 stands as a powerful shield for individuals accused of crimes. It provides three essential protections that uphold fairness in criminal justice and restrict arbitrary use of state power. These safeguards reflect the …
On Friday, February 27, 2026, a Delhi court discharged former Chief Minister Arvind Kejriwal, Manish Sisodia, and 21 other accused in the corruption case related to the 2022 excise policy. The Court’s Ruling: Special Judge Jitendra Singh of the Rouse …
In a significant development on February 26, 2026, the Supreme Court of India ordered a blanket ban on a Class 8 Social Science textbook published by National Council of Educational Research and Training (NCERT). The book, titled Exploring Society: India and Beyond, has …