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Analysis of Capital Gains on Split Shares: Resolving the Holding Period Uncertainty
Introduction to Capital Gains Taxation on SharesUnderstanding Cost and Holding Period of SharesIn the context of calculating capital gains tax on the sale of shares, it is essential for an assessee to...
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A Comprehensive Guide to the Extract of Auditor’s Report (Standalone) under MCA V3
Overview: The Emergence of Digital Audit Extract FilingIn the landscape of Indian corporate governance, the Ministry of Corporate Affairs (MCA) has implemented a pivotal procedural change with the int...
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Year of TDS Credit: Synchronization with Income Recognition
Introduction(i) Overview of TDS Credit Entitlement(a) The right to claim credit for Tax Deducted at Source (TDS) is directly connected to the financial year in which the associated income is recognize...
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A Comparative Analysis of SME IPOs and Mainboard IPOs in India
Introduction: Capital Raising Platforms in IndiaIndia’s capital market has witnessed increasing activity from companies seeking public funds through initial public offerings (IPOs). Two primary avenue...
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Transfer Pricing and the Treatment of Forex Gains/Losses: Should They Influence PLI Calculations?
Introduction: Domestic Case Law vs. Transfer Pricing ContextBackground and Rationale: Transfer pricing regulations aim to ensure that international transactions between associated enterprises (AEs) ar...
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Section 30 of the Insolvency and Bankruptcy Code (IBC): Ensuring Fair Payment to Operational and Dissenting Financial Creditors
Overview of Section 30: Binding Nature of Approved Resolution PlansOnce the Committee of Creditors (CoC) grants approval to a resolution plan, as per Section 30(4) of the Insolvency and Bankruptcy Cod...
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Addressing GST Notices for Input Tax Credit (ITC) Reversal: Legal Framework, Step-by-Step Response, and Practical Insights
Overview of GST ITC NoticesThe introduction of the Goods and Services Tax (GST) unified India’s indirect tax system, with Input Tax Credit (ITC) as a core mechanism to prevent double taxation. Nonethe...
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Comprehensive Guide to GST Refunds: Exports, Inverted Duty Structure, Excess Payments & Input Tax Credit (ITC) in India
1. Overview of GST Refunds: Export, Inverted Tax, Excess Tax, and ITCGoods and Services Tax (GST) in India places the obligation on assessees (business entities) to collect tax from consumers and remi...
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Query - Requirement of GST Registration for Online Counselling Psychologists: Applicability and Exemption Criteria
QueryA professional, Mr. Rahul Verma, is engaged in offering online mental health counselling services. His academic qualifications include BSc in Psychology, MA (Clinical Psychology), and a Post Grad...
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A Comprehensive Review of the Evidentiary Value of Materials Seized During Unlawful Searches Under Indian Taxation Statutes
1. IntroductionThe Karnataka High Court’s recent verdict in Vigneshwara Transport Company v. Addl. Commissioner of Central Tax ([2025] 170 taxmann.com 264/94 GSTL 273) has set a significant legal stan...
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GST Implications on School Bus Services Paid Directly by Parents: Analysis of Tamil Nadu AAAR Ruling
Background and OverviewIn the matter involving Tvl. Batcha Noorjahan (“the Appellant”), conducting business as “Miss School Transport,” the Tamil Nadu Appellate Authority for Advance Ruling (AAAR) has...
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Bombay High Court Strikes Down Adjudication Orders Based on Copy-Paste Reasoning
Overview of the JudgmentIn a significant ruling delivered on June 30, 2025, the Bombay High Court, in Writ Petition (L) No. 12528 of 2025 (GlobeOp Financial Services (India) Private Limited), declared...
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Understanding TCS Provisions under GST: Responsibilities of E-Commerce Operators
1. Overview of TCS Mechanism under GSTE-commerce operators (ECOs) are entrusted with the responsibility to collect a specified percentage as Tax Collected at Source (TCS) on taxable supplies facilitat...
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Process of Registering Non-Profit Organisations (NPOs) under the Proposed Income Tax Bill, 2025
Introduction to NPO Provisions in the New LegislationThe Income Tax Bill, 2025 introduces a consolidated framework for Non-Profit Organisations (NPOs) under Chapter XVII-B, which covers Sections 332 t...
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Taxation Aspects of Selling Property Held Jointly in India
Overview of Joint Property Ownership and TaxationJoint property ownership is widely practiced across India, but the sale of such properties brings complex income tax considerations. Co-owners must be...
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Cherry Picking Prohibited in Income Tax Scrutiny: Application of the Doctrine of Appropriation and Reprobation
OverviewThe Income Tax Act empowers the Assessing Officer (AO) with discretion to evaluate the taxable income of an assessee under scrutiny, especially when the explanations or evidence furnished by t...
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Distinguishing DTAA and POEM: Treaty Override Considerations in Indian Tax Law
Overview: Globalisation and the Challenge of Cross-Border TaxationAs companies increasingly operate across borders, jurisdictional questions over the right to tax corporate income have become more com...
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Supreme Court Clarifies Prerequisites for Staying GST Refund Orders under Section 108
Overview of Supreme Court Decision on GST Refund Stay Orders(i) Background and Key RulingThe Supreme Court of India, in the case of UOI & Ors. v. HCC VCCL Joint Venture (SLP (C) Diary No. 24660/2025),...
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Avoiding Income Tax Notices: Navigating AIS and Form 26AS Discrepancies
OverviewWith the ongoing digital transformation of India's tax administration, the Income Tax Department now has advanced tools to cross-verify the financial disclosures made by assessees. Two critica...
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Determining Cost of Acquisition for Assets Received Upon Liquidation: Navigating the Interplay of Section 49(1)(iii)(c) and Section 55(2)(b)(iii)
Background and Judicial Context(i) Introduction to the IssueThe Madras High Court, in the case of T. R. Balasubramanium vs. ACIT, addressed a significant question regarding the correct methodology for...