In recent times, a disturbing trend has emerged across India — individuals with no involvement in business or taxation are receiving hefty GST notices. From daily wage workers to Non-Resident Indians (NRIs), many innocent citizens are being dragged into legal …
As the Income Tax Return (ITR) filing season for Assessment Year (AY) 2025-26 approaches, taxpayers across India are gearing up to gather essential documents like salary slips, bank interest certificates, Form 16, dividend statements, and other income-related records. While timely …
To file a money recovery suit, you’ll need evidence demonstrating the debt and the obligation to repay. This can include contracts, receipts, bank statements, or any other document proving the money was lent or owed. Essentially, you need to establish that the …
In a significant move to enhance transparency and accountability in the indirect taxation system, the Central Board of Indirect Taxes and Customs (CBIC) has issued a strong directive to all Goods and Services Tax (GST) field formations across India. This …
The Securities and Exchange Board of India (SEBI), India’s capital markets regulator, has proposed a significant amendment to its IPO framework, aiming to strengthen transparency and reduce risks associated with physical shareholdings. In a recent consultation paper, SEBI suggested that …
In a significant judgment, the Himachal Pradesh High Court has ruled that workers engaged under the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA), 2005, are not covered under the Employees’ Compensation Act, 1923. This decision affirms that such workers …
The Central Board of Direct Taxes (CBDT) has officially notified the Income Tax Return (ITR) Form 2 for the Assessment Year 2025-26. This form applies to individuals and Hindu Undivided Families (HUFs) who do not earn income from business or profession. However, …
A summary suit for recovery of money is a legal action filed in court to recover a debt, often used when the defendant’s liability is clear and undisputed. It’s a streamlined process aimed at faster resolution compared to a regular civil …
To determine the appropriate jurisdiction for a money recovery suit, consider both territorial and pecuniary factors. Territorially, the suit can be filed where the defendant resides, carries on business, or where the cause of action arose. Pecuniary jurisdiction depends on the value …
Cheque Bounce New Rules 2025: Stricter Penalties, Faster Complaint Filing & Key Changes You Must Know Starting April 1, 2025, the Government of India has introduced significant amendments to the Negotiable Instruments Act, tightening rules around cheque bounce cases. These updates aim to …
The Reserve Bank of India (RBI) has levied monetary penalties totaling Rs. 2.206 crore on five leading Indian banks for various lapses in regulatory compliance. The banks penalized include ICICI Bank, Axis Bank, IDBI Bank, Bank of Maharashtra, and Bank …
The Karnataka State Chartered Accountants Association (KSCAA) has formally approached the Central Board of Direct Taxes (CBDT) seeking urgent clarification on the denial of rebate under Section 87A of the Income Tax Act for Short-Term Capital Gains (STCG) taxed under …
Tax Deducted at Source (TDS) isn’t just for large corporations. In India, small businesses and even individuals may be required to deduct and deposit TDS in specific situations. Understanding your responsibilities is crucial to remain compliant and avoid penalties. 1. TDS …
The Income Tax Department, under the Central Board of Direct Taxes (CBDT), has officially released the ITR-5 Form for Assessment Year (AY) 2025-26, covering income earned during Financial Year (FY) 2024-25. Announced on May 1, 2025, the updated form incorporates …
Fake GST Registration: In a determined move to enhance revenue collection and meet the ambitious target of Rs 51,000 crore for the current financial year, the Telangana Commercial Taxes Department has initiated a strong crackdown on fake GST registrations and …
The Central Board of Indirect Taxes and Customs (CBIC) has issued Instruction No. 04/2025-GST dated 02.05.2025, establishing a formal Grievance Redressal Mechanism for GST registration applications allocated to the Central Jurisdiction. This move follows Instruction No. 03/2025 dated 17.04.2025, which laid out a standardized process …
In a significant move aimed at supporting the trading community, Delhi Chief Minister Rekha Gupta announced that the Delhi government will soon introduce a one-time Goods and Services Tax (GST) amnesty scheme. The announcement was made during a major conference organised …
The Central Board of Direct Taxes (CBDT) has officially released ITR Form 3 for Assessment Year 2025-26 through Notification No. 41/2025 dated April 30, 2025. This move comes in alignment with the amendments introduced via the Finance Act, 2024, and aims to bring greater …
Money disputes are as old as trade itself. From handshake agreements to formal contracts, unpaid dues often lead individuals and businesses into legal battles. In India, money recovery suits offer a structured legal mechanism to recover such debts—but the process …
A cheque bounce case occurs when a cheque, presented for payment, is returned unpaid by the bank due to insufficient funds in the drawer’s account. This is a criminal offense under Section 138 of the Negotiable Instruments Act, 1881, and can result …