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Learn about the latest tax compliance relaxations for trusts, charitable institutions and NPOs, including Form 10A, 10AB, 10BD and 10BE updates.
The Income-tax (Amendment) Ordinance, 2026 exempts FIIs and BIS from tax on government securities, boosting foreign investment, debt market liquidity and forex reserves.
The Supreme Court in the D.N. Singh case held that bitumen cannot be treated as a "valuable article" under Section 69A of the Income Tax Act. The judgment clarifies that only high-priced articles commanding a premium value qualify for tax additions under the provision, significantly limiting its scope.
TCS on foreign remittances and international credit card spends under LRS changed from 1 July 2023. Know Section 206C(1G), 20% TCS applicability, ₹7 lakh exemption, and latest rules.
The April 2026 withdrawal of the GST portal advisory has restored the statutory ITC utilization sequence under Section 49(5) of the CGST Act, increasing compliance and cash flow challenges for taxpayers. Businesses that relied on the earlier mechanism in February and March 2026 may now face interest liability, notices, and potential litigation over incorrect ITC utilization.
GSTAT Kolkata Bench inaugurated on 16 May 2026 with new case listing procedures, dispute categorization, and operational guidelines to strengthen GST dispute resolution in India.
Analysis of amended Rule 11UA and Angel Tax provisions under Finance Act 2023 covering NRI investments, startup exemptions, safe harbour rules, and valuation methods.
Understand the latest TCS rules on foreign remittances and overseas credit card spends under Section 206C(1G). Learn about revised rates, Rs 7 lakh threshold, CBDT Circular 10/2023, exemptions, and overseas tour package taxation.
Can NGOs and clubs claim mutuality exemption on non-member income? Explore the Supreme Court ruling in Secunderabad Club and taxation of interest income under the Income Tax Act.
Can mere suspicion trigger seizure of foreign assets? Explore how Section 247 of ITA 2025 links with the Black Money Act, the Karnataka HC's Xiaomi ruling, and the legal framework behind foreign asset seizure.
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