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E-Way Bill Mechanism under GST: Provisions, Offences, Practical Hurdles & Judicial Guidance
Introduction to E-Way Bill in IndiaThe Goods and Services Tax (GST) regime was introduced to harmonize indirect taxes and simplify goods movement across India. Among its notable features is the E-Way...
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Strengthening Corporate Governance: The Impact of Legal Action on Independent Director Classification in MCA Records
Introduction: The Crucial Role of Independent DirectorsIndependent Directors play a pivotal role in upholding the principles of transparency, accountability, and fairness in corporate management. Thei...
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Comprehensive Guide to Section 12AB and 80G Applications: Importance of Selecting Correct Sub-Clauses and Section Codes
IntroductionThe process of applying for registration or approval under Section 12AB and Section 80G of the Income Tax Act, 1961 has seen a significant number of rejections lately. A common reason for...
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Restriction of Input Tax Credit in Electronic Credit Ledger under GST: An Overview of Rule 86A
Introduction: ITC Suspension to Prevent GST EvasionInput Tax Credit (ITC) is fundamental under the GST framework, facilitating uninterrupted credit transfer and minimizing cascading taxes. Nevertheles...
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Madras High Court Quashes Section 74 GST Order for Ignoring Chartered Accountant’s Certificate
Overview of the JudgmentThe Madras High Court, in its decision dated July 8, 2025, in the matter of JIT Auto Comp v. Assistant Commissioner, invalidated proceedings under Section 74 of the Central Goo...
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Secretarial Auditor’s Responsibilities in Uncovering and Reporting Fraud
Overview of the Secretarial Auditor’s Duties in Fraud Detection(i) Legal Framework and Core ObligationsUnder Section 143(12) of the Companies Act, 2013, together with Rule 13 of the Companies (Audit a...
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Form DPT-3: Applicability, Filing Timeline, Penalties, and Step-by-Step Procedure under the Companies Act, 2013
Overview of Form DPT-3Form DPT-3 is a statutory return mandated by the Ministry of Corporate Affairs (MCA) for companies to report details regarding deposits and certain categories of outstanding rece...
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Increased Tax Burden on LLPs: Long-Term Capital Gains to be Taxed at 18.5% Under Proposed Income-tax Bill, 2025
Introductioni) Overview of Recent Tax AmendmentsIn a significant development highlighted by various financial publications, the proposed Income-tax Bill, 2025, seeks to enhance the effective tax rate...
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Section 54F: The Overlooked Opportunity for Capital Gains Tax Relief
OverviewCapital gains from the sale of assets such as land, gold, or inherited items can lead to significant tax liabilities, prompting assessees to search for ways to minimize their tax outgo. Often,...
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Comparative Analysis of Old and New Income Tax Regimes for FY 2024–25: Making the Right Choice
OverviewAs the income tax return (ITR) filing window for Financial Year 2024–25 (Assessment Year 2025–26) opens, individual assessees must make a significant decision: Should they proceed with the Old...
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Standardized Dress Code for GST Appellate Tribunal: Comprehensive Guidelines for Members and Participants
Introduction to GSTAT Dress Code FrameworkThe Goods and Services Tax Appellate Tribunal (GSTAT), under its newly notified GSTAT (Procedure) Rules, 2025, has instituted a formalized dress code for all...
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Major Overhaul of AOC-4 Filing on the MCA V3 Portal: Key Updates and Compliance Essentials
Introduction to the Revised AOC-4 Filing ProcedureThe Ministry of Corporate Affairs (MCA) has introduced substantial modifications to the process of filing financial statements for companies following...
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Delhi High Court Upholds Appeal Rights of Struck Off Companies in Tax Matters
Introduction and Background(i) Case OverviewThe Delhi High Court, in the matter of Dwarka Portfolio Pvt. Ltd. vs. Assistant Commissioner of Income Tax, addressed a significant issue concerning the mai...
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A Decade of the Black Money Act, 2015: Evolution, Legal Developments, Persistent Challenges, and What Lies Ahead
1. Introduction: The Problem of Hidden Wealth and Legislative ResponseBlack money, a persistent enabler of corruption and tax evasion, continues to undermine India’s economic and social fabric. Funds...
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A Comprehensive Overview of Minimum Alternate Tax (MAT) for Indian Companies
Introduction to MAT: Rationale and Applicability(i) Significance and Purpose of MATImagine a scenario where a company, through effective use of various deductions and exemptions, shows healthy profits...
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Deductions Permitted Under the New Tax Regime for FY 2025-26 (AY 2026-27)
Overview of the Revised New Tax Regime(i) Philosophy and PurposeThe new tax regime, applicable for the Financial Year 2025-26 (Assessment Year 2026-27), aims to simplify the tax process by offering lo...
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Re-examining Unregistered Sale Agreements: Legal Title and Ownership After the Mahnoor Fatima Imran Supreme Court Decision
1. OverviewThis article discusses the Supreme Court’s judgement in Mahnoor Fatima Imran v. Visweswara Infrastructure Pvt. Ltd. (decided on May 7, 2025 by Justices Sudhanshu Dhulia and K. Vinod Chandra...
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Navigating Legal Fictions in Taxation – The Supreme Court’s Approach in Rajeev Bansal
The landmark judgment in Union of India v. Rajeev Bansal, 2024, addressed the intricate interplay among three central tax statutes in India: the Income-tax Act, 1961, the Finance Act, 2021, and the Ta...
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The Importance of Company Names and Regulatory Oversight under the Companies Act, 2013
Understanding the Role of a Company’s Namei) Identity and Branding SignificanceThe name of a company serves as its foremost identifier, functioning as a key element in shaping its brand image and mark...
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Unified Governance Mandate: Applicability of SEBI Regulation 23 to SME Listed Companies
Regulatory Context and SEBI’s Rationalei) Evolution of Regulatory OversightThe Securities and Exchange Board of India (SEBI), in its consultation paper dated November 2024, noted significant growth in...