CAclubindia Articles

Company First, Director Next: The Rule for GST Prosecution

Posted by Raj Jaggi 07 August 2026 361 Views

Can a GST Director be prosecuted without making the company an accused? The Punjab & Haryana High Court in Manoj Bansal v. DGGI held that vicarious liability under Section 137 CGST Act requires arraigning the company first, reinforcing strict compliance with GST prosecution law.

The Rs 1 Crore Question: Do You Need a Tax Audit This Year

Posted by Ishwin Kaur 07 August 2026 1177 Views

Learn what a Tax Audit under Section 44AB is, who must undergo it for FY 2025-26 (AY 2026-27), key Form 3CD clauses, audit thresholds, penalties, due dates, and practical compliance insights.

Think Like a Banker Before You Apply for a Business Loan

Posted by Ashok Kakkar 07 August 2026 59 Views

Discover how bankers evaluate business loan proposals, the 7 key questions they ask, common loan application mistakes, and practical tips to improve your chances of faster loan approval.

AO Cannot Make Ad-Hoc Disallowances Without Evidence: Key Income Tax Ruling Explained

Posted by Vivek Jalan 07 August 2026 41 Views

ITAT rulings clarify that AOs cannot make ad hoc expense disallowances without evidence, while taxpayers must prove business purpose and commercial expediency for claiming deductions under the Income Tax Act.

What is FPI in Income Tax? Complete Guide to Foreign Portfolio Investor Taxation in India (2026)

Posted by CA Umesh Kumar Jethani 06 August 2026 142 Views

Learn what FPI in Income Tax means, tax rates for Foreign Portfolio Investors in India, Section 115AD provisions, capital gains taxation, DTAA benefits, dividend taxation, compliance requirements and key differences between FPI and FDI in 2026.

Upgrade Your CAclubindia Experience with CCI Pro: Ad-Free Browsing & Exclusive Benefits!

Posted by CCI Team 06 August 2026 2106 Views

Go AD-Free with CAclubindia Pro! The CCI Pro subscription offers a premium, ad-free experience designed specifically for Finance Professionals.

Accounts Can Raise Questions, but Law Alone Creates Taxability

Posted by Raj Jaggi 06 August 2026 78 Views

Can income reflected in accounts be taxed automatically? Explore the Supreme Court's ruling that accounting entries may raise suspicion, but taxability arises only when supported by a specific legal provision under the Income-tax Act.

Seafarer Salary Taxability in India: NRI Status, 182-Day Rule, NRE Account and IFSC Employer

Posted by CA Varun Gupta 06 August 2026 578 Views

Is seafarer salary taxable in India for AY 2026-27? Learn how residential status, CDC rules, NRE account credits, foreign-going ship services, paid leave and CBDT Circular 13/2017 determine the taxability of seafarers' income under Indian tax law.

Supreme Court on Section 153C: Substance Over Technicalities in Income Tax Proceedings

Posted by Vivek Jalan 06 August 2026 612 Views

The Supreme Court's ruling in ITO vs. Vikram Sujitkumar Bhatia clarifies the scope of Section 153C, emphasizing legislative intent over technical objections and strengthening the Revenue's power to act on incriminating material found during searches.

Can One Person Hold Two KMP Positions in the Same Company?

Posted by Kalidas Ramaswami 05 August 2026 325 Views

Can the same individual hold two KMP positions in a company? An in-depth analysis of the ROC Gwalior order in EKI Energy Services Ltd., Section 203 of the Companies Act, 2013, legislative intent, legal interpretation, and implications for corporate governance and compliance.