Tax Guru35m
2FA Mandatory for e-Way Bill & e-Invoice from April 2025
To enhance the security of e-Way Bill/e-Invoice System, NIC is introducing 2- Factor Authentication for logging in to e-Way ...
Tax Guru1h
Misinterpretation of Section 87A: Tax Burden on Small Taxpayers
A correct interpretation of Section 87A of the Act will ensure both fair tax treatment for small taxpayers and the prevention ...
Tax Guru1h
Can GST Penalty Under Section 125 Be Imposed for Late GST Return Filing?
It is common knowledge that GST officials issue penalty notices u/s 125 of the GST Act for late filing of a GST return on the ...
Tax Guru4h
AP HC Sets Aside GST Assessment Order Due for lacking AO’s Signature & DIN
The petitioner was served with the assessment order, in Form GST DRC-07, dated 30.06.2022, passed by the 1 st respondent, ...
Tax Guru3h
Section 147/148 Proceedings Barred During Pending Section 154 Proceedings
3. Without prejudice to the above, the amount disallowed u/s. 43 (8) in respect of unpaid sales tax liability, provident fund ...
Tax Guru1h
CBDT Signs 174 Advance Pricing Agreements in FY 2024-25
CBDT has maintained a consistent pace in concluding APAs, having signed 125 in FY 2023-24 and 95 in FY 2022-23. Notably, this year also saw the signing of India’s first-ever MAPA. Additionally, on ...
Tax Guru2h
ITAT Deletes Rs. 2.97 Crore Bogus Expense Disallowance, Upholds 10% for Lack of Records
“1) For that, the Ld. CIT (A) has erred in deleting an addition of Rs.2,97,16,776/- made by the AO as unexplained expenditure u/s 69C of the Income Tax Act although no supporting bills for such ...
Tax Guru2h
Bombay HC Directs RBI to Accept ₹20 Lakh Demonetized Currency Seized by IT Tax Dept
Bombay High Court ruled in favor of petitioners whose ₹20 lakh in demonetized ₹500 and ₹1,000 notes were seized during a raid on December 26, 2016, just days before the deposit deadline of December 30 ...
Tax Guru1h
Regular vs Composite GST Dealers: Key Differences Explained
GST law provides two types of tax compliance structures for businesses—Regular Scheme and Composition Scheme. While the Regular Scheme applies to most taxpayers, the Composition Scheme is a simplified ...
Tax Guru2h
SEBI’s Role in Regulating the Indian Capital Market
SEBI’s power is murmur in a robust legislative framework that allows it to broad the regulatory and enforcement capabilities. The primary legal instrument, the SEBI Act of 1992, states that the ...
Tax Guru1h
RBI Updates Master Direction on Currency Chest Transaction Reporting
The Chairman / Managing Director / Chief Executive Officer (All banks having Currency Chests) Master Direction on Penal Provisions in reporting of transactions / balances at Currency Chests In terms ...
Tax Guru1h
IBBI: IP Faces Scrutiny, Case Referred for Re-Exam
Contravention of Section 208(2)(a) & (e) of the Code, Regulation 27 of the CIRP Regulations, Regulation 7(2)(a) and 7(2)(h) of IP Regulations read with Clause 13 and 14 of the Code of Conduct for ...