Draft Rule 66 requires mandatory audit, Form 32 filing, and section-wise document submission for claiming deductions under Sections 46 to 144, reinforcing strict procedural ...

Rule 62 mandates that deductions under Section 128 for specified serious diseases are allowed only when supported by prescriptions from qualified medical specialists. The rule clearly defines eligible ...

The article highlights disparities and stagnation in audit fees paid by public sector banks. It calls for ICAI intervention to ensure uniform benchmarks and respect for Chartered ...

GST applies to under-construction properties while land and completed buildings remain exempt. The regime includes 1% and 5% rates without ITC, deemed land valuation, and reverse charge compliance for ...

The provision extends penalties to “any person,” exposing tax professionals to liability for alleged facilitation of GST fraud. Courts indicate that penalties require proof of intent, not mere ...

The Tribunal set aside the CIT(A)’s order because the appeal was dismissed on limitation without properly examining delay condonation grounds. It held that non-speaking orders passed without adequate ...

DGFT directed Regional Authorities to proportionately reduce Average Export Obligation for sectors witnessing over 5% export decline. The relief applies under Para 5.17(a) of FTP 2023 and must be ...

SEBI issued a caution after fraudsters circulated forged notices demanding Securities Transaction Tax payments. The regulator clarified it does not issue STT payment notices and urged investors to ...

The 2026 amendment revises the definition of fair value to include tangible, intangible assets and underlying synergies, and mandates a structured multi-valuer mechanism. It also prescribes clearer ...

SEBI issued an alert after fraudsters offered to manage trading accounts while promising guaranteed returns. The regulator clarified that such account handlers are unregistered and advised investors ...

SEBI has directed all regulated entities and their agents to prominently display their registered name and registration number on social media posts related to the securities market. The move aims to ...

The Tribunal accepted the DGAP report after verifying that the developer passed on ITC benefits exceeding the computed liability. With the balance amount paid, no further action was required under ...