Article Archive
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RBI Notifies FEMA (Guarantees) Regulations, 2026: Quarterly Form GRN Reporting Now Mandatory
RBI has replaced the year-2000 FEMA guarantee regulations with a 2026 framework that introduces mandatory quarterly reporting of cross-border guarantees in Form GRN, backed by Late Submission Fees for delay.
4 Aug 20262 min read
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Income Tax Case Law Roundup: The 7-Day SCN Rule and the Section 271C TDS Penalty Distinction
Two rulings this week reshape how faceless assessment notices and TDS penalty proceedings should be handled: a mandatory 7-day SCN window, and a sharpened line between non-deduction and delayed deposit under Section 271C.
4 Aug 20262 min read
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ITR-3 and ITR-4 (Non-Audit) Due Date Now Permanently 31 August: Finance Act 2026 Staggers Return Filing
The common 31 July due date for all non-audit ITRs is gone. Under the Finance Act 2026, ITR-3 and ITR-4 (non-audit cases) now carry a separate, statutory 31 August due date.
4 Aug 20262 min read
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Alstom Transport: Why Partial ITC-02 Transfer on Amalgamation Fails — Supreme Court to Rule
The Gujarat High Court held that a transferor cannot split unutilised ITC between an ITC-02 transfer and a separate cash refund claim on amalgamation. The matter is now before the Supreme Court.
4 Aug 20262 min read
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Ship-to-GSTIN Now Mandatory in e-Invoice and e-Way Bill APIs: What Changes From 1 August 2026
GSTN has made the Ship-to GSTIN field mandatory across e-Invoice and e-Way Bill APIs. Here is what breaks if your ERP master data isn’t updated, and how to fix it before your next dispatch.
4 Aug 20263 min read
Read MoreGST Update
New GST rates for certain goods and services effective May 1, 2026
26 May 20261 min read
Read MoreGST Council Announces New Rates for Certain Goods and Services
The GST Council has announced new rates for certain goods and services, effective from June 1, 2026.
15 May 20261 min read
Read MorePenalty for Concealment
Penalty for concealment of income under Section 271(1)(c).
15 May 20261 min read
Read MoreCBDT Notifies New Rules for Taxation of Virtual Digital Assets
The Central Board of Direct Taxes (CBDT) has notified new rules for the taxation of virtual digital assets, including cryptocurrencies and non-fungible tokens (NFTs).
15 May 20261 min read
Read MoreGST Council Removes Exemptions on Certain Services, Including Hotel Accommodations
The GST Council has announced the removal of exemptions on certain services, including hotel accommodations, effective from October 1, 2026.
14 May 20262 min read
Read MoreIncome Tax Act 2025: What Actually Changed From April 1, 2026
When the Income-Tax Act, 2025 (ITA 2025) was passed by Parliament in February 2025, the tax community braced for a […]
8 May 20263 min read
Read MoreSection 185 Companies Act: Loans to Directors — The Rules Every Private Company Gets Wrong
The promoter of a profitable private limited company needed ₹50 lakhs for a personal real estate transaction. His CA suggested […]
8 May 20263 min read
Read MoreSection 43B(h): Why Delaying Payments to MSMEs Is Now a Tax Problem
For decades, large corporates and their finance teams managed cash flow partly by stretching payment timelines to their smallest suppliers […]
8 May 20263 min read
Read MoreFEMA Overseas Direct Investment 2022: The New Framework
When the Reserve Bank of India overhauled India’s overseas investment regulations in August 2022, it did not merely tweak the […]
8 May 20263 min read
Read MoreITC Reversal Under GST: Rule 42, Rule 43 and the Annual True-Up
A large pharmaceutical company in Ahmedabad had been claiming full ITC on its marketing overheads for two years. When a […]
8 May 20263 min read
Read MoreSection 271AAC: The 10% Penalty You Can Actually Avoid
Most taxpayers who receive an income tax assessment order assume that if additions are made to their income, a penalty […]
8 May 20263 min read
Read MoreGSTR-2B Reconciliation: Why Skipping This Step Is Costing You ITC
Every month, thousands of businesses across India claim input tax credit (ITC) based on what they think their suppliers have […]
8 May 20262 min read
Read MoreGST Rule 86B: The 1% Cash Rule That Trips Up High-Turnover Businesses
It was a routine GSTR-3B filing day for the finance team at a Delhi-based consumer goods distributor with a ₹12 […]
8 May 20263 min read
Read MoreSection 44AD: The Presumptive Tax Scheme That Can Save Small Businesses Thousands
Priya owns a small electronics repair shop in Pune. Annual turnover: ₹82 lakhs. She has no accountant and no formal […]
8 May 20262 min read
Read MoreSection 68: Why Your Cash Credits Could Be Taxed at 78%
Rajan runs a mid-sized textile business in Surat. In AY 2022-23, his books showed a ₹40 lakh cash credit from […]
8 May 20263 min read
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