The Union Budget 2026 has introduced a major reform in the way Minimum Alternate Tax (MAT) is treated under India’s corporate taxation framework. In a move aimed at simplifying compliance and ensuring greater tax certainty, the government has proposed to convert MAT into a final, …
In a major boost to trade facilitation and ease of doing business, the Central Board of Indirect Taxes and Customs (CBIC) has proposed extending the deferred payment of import duty facility to compliant importers starting 1 March 2026. The extension has …
The Union Budget 2026 introduced a notable change for participants in India’s stock derivatives market by increasing the Securities Transaction Tax (STT) on Futures and Options (F&O) trades. At first glance, the revision may look like a marginal tweak in …
The Finance Bill, 2026 marks a decisive shift in India’s income-tax compliance framework. One of the most significant reforms proposed is the replacement of discretionary penalties with fixed, mandatory fees for certain procedural defaults under the Income-tax Act, 2025, effective from 1 April 2026 (Assessment Year …
The Union Budget 2026, presented by Finance Minister Nirmala Sitharaman, brings significant structural and compliance-oriented changes to the income tax framework while keeping tax rates unchanged. Despite widespread expectations of relief through revised income tax slabs, the government chose to …
The Union Budget 2026–27, presented on 1 February 2026 by the Finance Minister, places a clear emphasis on tax certainty, simplification of laws, and ease of compliance, rather than major rate changes. Both direct and indirect tax proposals aim to reduce …
In matrimonial disputes, particularly in maintenance proceedings, one recurring issue is suppression or under-disclosure of income by the husband. To address this systemic problem, the Supreme Court of India, in the landmark judgment of Rajnesh v. Neha (2020) 14 SCC 150, introduced a mandatory …
Under GST law, Input Tax Credit (ITC) is a statutory benefit, not an absolute right. Fake ITC arises when credit is: Availed without actual supply of goods or services, or Availed based on invoices issued by fake / non-existent suppliers, or Availed with intent to evade …
The Supreme Court of India is set to hear a writ petition seeking the exclusion of the “creamy layer” from the benefits of reservation granted to Scheduled Castes (SCs) and Scheduled Tribes (STs). The plea raises significant constitutional questions on the scope …
The Delhi High Court has reaffirmed the sanctity of advocate–client privilege by holding that a court cannot compel a lawyer to disclose the source of documents filed on a client’s instructions. Emphasising the protection under Section 126 of the Indian Evidence Act, 1872, …
The Ministry of Finance has invited suggestions and ideas from citizens for the preparation of the Union Budget 2026-27, reinforcing the government’s commitment to participatory and inclusive policymaking. Citizens, professionals, industry stakeholders, and organisations can contribute their views on key economic …
In a fresh compliance push, the Income Tax Department has intensified its crackdown on undisclosed foreign assets by roping in multinational companies (MNCs) operating in India. As part of its data-driven “nudge” strategy, the department has asked MNCs to alert …
In a significant ruling emphasizing the need for independent application of mind in disciplinary proceedings, the Gujarat High Court set aside disciplinary action initiated by the Institute of Chartered Accountants of India (ICAI) against a Chartered Accountant, holding that the …
The Enforcement Directorate (ED) has launched an extensive investigation into alleged violations of the Foreign Exchange Management Act (FEMA) involving suspicious transactions worth nearly ₹900 crore, reportedly linked to Ranchi-based chartered accountant Naresh Kumar Kejriwal. Acting under Section 37 of …
The Madras High Court held that passing an adverse order on a rectification application without granting proper notice or opportunity of hearing violates the principles of natural justice. The Court further clarified the maintainability of writ petitions when an original order is superseded …
The Income Tax Department has rolled out several important updates from December 1, 2025, aimed at improving compliance, enhancing accuracy, and speeding up refund processing. These changes will significantly impact both taxpayers and deductors. Here’s a complete breakdown. New Real-Time TDS …
In a significant development impacting tribunal appointments across the country, the Supreme Court has struck down the rule that mandated a minimum of 25 years of practice for chartered accountants (CAs) to qualify as technical members of tribunals, including the Income Tax Appellate …
In 2025, India’s rental housing framework underwent significant reform aimed at improving transparency, fairness, and legal protection for both landlords and tenants. With the introduction of the new Rent Law 2025 and the mandatory e-stamping and registration provisions, the government seeks to formalize …
In a stern rebuke, the Supreme Court of India directed a man accused of threatening a court-appointed woman lawyer with a pistol during a local commission visit to surrender before jail authorities. The bench, led by Justice Surya Kant, came …
Justice Surya Kant, who is set to take oath as the 53rd Chief Justice of India on 23 November 2025, brings with him a judicial legacy marked by bold constitutional reasoning, administrative reform, and empathy toward citizen rights. Hailing from Hisar, Haryana, he …