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Overview of Rule 37A – ITC Reversal Due to Supplier’s Non-Compliancei) Introduction to Rule 37ARule 37A, inserted via Notification No. 26/2022 – Central Tax dated 26 December 2022, mandates that a reg...

OverviewSection 206C of the Income Tax Act governs the collection of Tax Collected at Source (TCS). This write-up focuses on the revised interest implications for late remittance of TCS by assessees,...

OverviewThe frequency of search and seizure operations conducted by the Income Tax Department and the Enforcement Directorate (ED) under the Prevention of Money Laundering Act, 2002 (PMLA), has risen...

Overview of Recent ChangesThe Finance Act, 2024 has introduced several major amendments, one of which is the implementation of Section 194T under the Income Tax Act, 1961. This new section obligates a...

1. Introduction to Acquisition StrategiesIn today’s rapidly evolving and interconnected business environment, mergers and acquisitions (M&A) play a pivotal role in enabling companies to grow, realign...

IntroductionThe GST registration process in India has undergone several amendments for enhanced transparency and fraud prevention. One such significant update was the introduction of mandatory PAN-lin...

Date: [DD/MM/YYYY]To,[Client Name][Client Address]Subject: Appointment for Virtual CFO (vCFO) ServicesDear [Client Name],We are delighted to acknowledge our appointment as the Virtual Chief Financial...

OverviewShare buy-back by private companies, as governed by the Companies Act, 2013, has emerged as a prominent financial strategy. This process entails a company repurchasing its own shares from its...

Introduction: CSR Mandate and Applicabilityi) When Does CSR Become Applicable?Corporate Social Responsibility (CSR) in India is mandated through Section 135 of the Companies Act, 2013, compelling cert...

1. Overview of Faceless AssessmentThe Income Tax Department has implemented a groundbreaking approach to tax scrutiny by introducing the Faceless Assessment system under Section 144B of the Income Tax...

1. Introduction Clause 30B of Form 3CD requires the tax auditor to report whether the assessee has incurred expenditure during the previous year by way of interest or expenditure of a similar nature e...

Clause 19 of Form 3CD requires the tax auditor to report admissible deductions under specified provisions of the Income-tax Act, 1961—such as Sections 32AD, 33AB, 33ABA, 35 series (e.g., 35(1)(i) to 3...

Introduction: The Paradigm Shift in Indian Income Tax LegislationThe Indian government has ushered in a transformative chapter in tax law with the introduction of the Income Tax Bill, 2025 on 11th Aug...

(12-06-2025)Overview of the AdvisoryThe Goods and Services Tax Network (GSTN) has released an advisory dated 12th June 2025 addressing difficulties encountered by assessees when submitting Form SPL-01...

(New Income-tax Bill)

The government today tabled the Taxation Laws Amendment Bill, 2025 in the Lok Sabha, introducing a range of targeted changes to the Income-tax Act, 1961. The proposals reflect a mix of fresh measures...

This compilation summarises recent High Court rulings addressing key GST-related disputes, including assessment against deceased taxpayers, the scope of confiscation proceedings, violation of natural...

Overview of ITR-5 for AY 2025-26The Central Board of Direct Taxes (CBDT) has introduced substantial amendments to the ITR-5 form for Assessment Year 2025-26 to align with the legislative changes of th...

Form 3CD is a cornerstone in the Indian tax audit process, guiding Chartered Accountants and trainees through a detailed reporting structure as mandated by Section 44AB of the Income-tax Act, 1961. Th...