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Major Updates for Corporate Assessees in Budget 2026
Overview: Budget 2026 and Its Impact on Corporate EntitiesThe Union Budget for 2026 has brought forth several pivotal changes impacting companies, especially in the realm of direct taxation and sector...
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Significant Updates for Individual Assessees in Union Budget 2026
Overview of Budget Announcements for IndividualsThe Union Budget 2026, presented by Finance Minister Smt. Nirmala Sitharaman, introduced several notable amendments affecting individual assessees. This...
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Overview of Proposed STT Revision on F&O Trades in Union Budget 2026
1. Overview of Proposed STT Revision on F&O Trades in Union Budget 2026i) Introduction to the STT Regime(a) The Union Budget for 2026 has introduced proposed amendments to the Securities Transaction T...
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Major Amendments in TDS and TCS Provisions as per Union Budget 2026
Overview of Recent TDS and TCS ReformsTax Deducted at Source (TDS) remains a pivotal mechanism for ensuring tax compliance in India, directly impacting the liquidity of both individuals and business e...
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Major Updates for Indian Stock Market: Union Budget 2026
IntroductionThe Indian stock market has recently experienced significant fluctuations due to a combination of global geopolitical uncertainties, persistent foreign institutional investor (FII) outflow...
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Top 10 Major Amendments Introduced in Union Budget 2026
The Union Budget for 2026, presented by Finance Minister Smt. Nirmala Sitharaman, brought forth a series of significant reforms impacting taxation, compliance timelines, and various sectoral incentive...
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Finance Bill, 2026: Comprehensive Changes in ITR Filing, Assessment, and Appeals – A Critical Overview
1. OverviewThe Finance Bill, 2026 introduces significant amendments aimed at reforming the procedures governing assessment, reassessment, return submissions, immunity from penalties, and subsequent ap...
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Budget 2026: Assessing the Real Impact of Relaxed Penalties
1. IntroductionThe 2026 Union Budget presented a unique scenario for the current government, which enjoys an unrivaled mandate to steer macro-economic policies. A notable observation for regular follo...
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Non-Conversion of Fully Convertible Debentures into Shares: ROC Imposes Penalty on Company and Director
Case Overview(i) Background and Facts(a) The central issue in this matter involves a company, M/s. Z Estates Private Limited, failing to convert its fully convertible debentures (FCDs) into compulsori...
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Reframing India’s International Tax Landscape: Insights from the Supreme Court’s Tiger Global Ruling
1. Introduction: A Pivotal Decision in International TaxationThe Supreme Court’s judgment in The Authority for Advance Rulings (Income Tax) v. Tiger Global International II Holdings ([2026] 182 taxman...
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Examining the Infosys Green Forum Decision: CSR, Charitable Purpose, and Income Tax Exemption under Section 12AB
1. OverviewThe evolution of Corporate Social Responsibility (CSR) compliance and eligibility for income tax exemption in India has sparked considerable debate, particularly following the 2021 amendmen...
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Section 2(47A) and Virtual Digital Assets: Evolving Definitions and Global Convergence
1. OverviewThe Indian regulatory landscape for crypto-assets has witnessed significant transformation since the Finance Act, 2022, which formally inserted Virtual Digital Assets (VDAs) into the Income...
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Union Budget 2026: Key Proposals and Anticipated Reforms in Indian Taxation and Business Laws
1. Introduction: A Budget for Growth, Trust, and TransformationAs India readies itself for the Union Budget 2026, the Finance Minister, Smt. Nirmala Sitharaman, is presented with the formidable task o...
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Re-examining Residential Status Under Income Tax Act: Insights from the Binny Bansal Case
Overview(i) Context and Relevance of the Tribunal’s DecisionThe Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) in the case of Binny Bansal (Assessment Year 2020-21) has provided a nuanced...
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In-Depth Overview of Suo Motu Registration Authority Under the Rajasthan Public Trusts Act, 1959
1. IntroductionMisconceptions About Regulatory Evasion in Rajasthan’s Trust SectorIn Rajasthan, it is a common yet perilous misconception that charitable or religious bodies can avoid the jurisdiction...
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Understanding the Supreme Court’s Stand on Parallel GST Proceedings: Insights from Armour Security (India) Ltd. v. Commissioner, CGST, Delhi East Commissionerate
Significance of the Supreme Court JudgmentThe Supreme Court’s decision in Armour Security (India) Ltd. v. Commissioner, CGST, Delhi East Commissionerate [2025] 177 taxmann.com 478/111 GST 400 (SC) is...
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Reconceptualizing “On His Own Account” in Section 17(5)(d) of the CGST Act: Capitalization, Input Tax Credit Continuity, and Timing Dilemmas
1. OverviewThe phrase “on his own account” in Section 17(5)(d) of the Central Goods and Services Tax (CGST) Act, 2017, has sparked divergent interpretations, especially within the real estate and hosp...
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Revising Best Judgment Assessments under Section 263: Legal Principles and Practical Guidance
OverviewThe authority granted to the Commissioner under section 263 of the Income-tax Act, 1961, has been interpreted by courts as a supervisory tool, designed to safeguard revenue interests by allowi...
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Best Judgment Assessment under Section 144: Limits on Revisional Powers under Section 263
1. OverviewThe revisional jurisdiction granted to the Commissioner under section 263 of the Income-tax Act, 1961, has long been debated in Indian tax jurisprudence. Section 263 is essentially a superv...
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The Digital Transformation of ITAT: Dissecting the 2025 Amendments to Appellate Tribunal Rules
Introduction: Ushering in a Digital Era for ITATThe Ministry of Law & Justice, in collaboration with the Income Tax Appellate Tribunal (ITAT), Mumbai, has brought forth the Income-tax (Appellate Tribu...