ICAI Issues Audit Guidance on New Labour Codes
Clipped from: https://www.taxscan.in/top-stories/icai-issues-audit-guidance-on-new-labour-codes-1442883?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412899 The note highlights wage changes, wider worker coverage, gratuity updates, and compliance checks to manage audit risks in this transition The four Labour
Supreme Court Upholds Gujarat HC Ruling Quashing Mechanical Income Tax Reopening Notices Based on ‘National Shroff Angadiya’ Search Inputs [Read Judgement]
Clipped from: https://www.taxscan.in/top-stories/supreme-court-upholds-gujarat-hc-ruling-quashing-mechanical-income-tax-reopening-notices-based-on-national-shroff-angadiya-search-inputs-read-judgement-1442879?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412908 The Supreme Court upheld the Gujarat High Court order quashing mechanical reopening notices issued under Section 148 based on National Shroff search inputs.
How NRI Income will be Determined: Key Takeaways from Income Tax Draft Rules
Clipped from: https://www.taxscan.in/top-stories/how-nri-income-will-be-determined-key-takeaways-from-income-tax-draft-rules-1442865?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412911 The trigger for estimation arises where the AO forms an opinion that the actual amount of income accruing or arising to a non-resident
Income Tax Addition Solely Based on Pendrive Data Seized from Third Party not Sustainable: ITAT Quashes Order [Read Order]
Clipped from: https://www.taxscan.in/top-stories/income-tax-addition-solely-based-on-pendrive-data-seized-from-third-party-not-sustainable-itat-quashes-order-read-order-1442858?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412895 The materials that were retrieved from third parties are to be cross-examined before additions are made to income tax. ITAT deletes addition in
Taxpayer Not Well Versed with Income Tax Proceedings: ITAT Gives Final Opportunity, Directs Compliance [Read Order]
Clipped from: https://www.taxscan.in/top-stories/taxpayer-not-well-versed-with-income-tax-proceedings-itat-gives-final-opportunity-directs-compliance-read-order-1442855?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412872 ITAT offers one final opportunity to assessee for the submission of details. The cash deposits amounting close to INR 1.5 crore was treated
Reassessment Notices Beyond Six-Year Limitation Invalid: Supreme Court Upholds Delhi HC Order [Read Order]
Clipped from: https://www.taxscan.in/top-stories/reassessment-notices-beyond-six-year-limitation-invalid-supreme-court-upholds-delhi-hc-1442853?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412906 Reassessment notice extended ten‑year period under Section 149 cannot revive assessments already barred under the earlier six‑year regime. Reassessment notice extended ten‑year period under
Notices u/s 148 issued by JAO was invalid due to mandatory faceless procedure u/s 151A
Clipped from: https://taxguru.in/income-tax/notices-u-s-148-issued-jao-invalid-due-mandatory-faceless-procedure-u-s-151a.html Exotic Innovations Private Limited Vs DCIT (Karnataka High Court) Conclusion: Once the Central Government notified the Faceless Scheme for reassessment (effective March 29, 2022),
From Balance-Sheets to Inner Balance: Art of Living to help CAs ease audit stress – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/from-balance-sheets-to-inner-balance-art-of-living-to-help-cas-ease-audit-stress/article70616027.ece The tie-up, inked by ICAI’s Committee on Promoting Work-Life Balance, is aimed at “overall personality development” and the infusion of values, ethics and
A win-win trade deal with US – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/a-win-win-trade-deal-with-us/article70616598.ece It will make our exports more competitive, and deliver gains to labour-intensive manufacturing units The India-US trade agreement significantly enhances market access, lowers tariffs,
Draft Income Tax Rules 2026: PAN exemptions, cash transactions & company car tax key benefits to know – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/draft-income-tax-rules-2026-pan-exemptions-cash-transactions-company-car-tax-key-benefits-to-know-515443-2026-02-10 The Draft Income Tax Rules, 2026 propose sweeping changes to PAN-quoting norms, perquisite valuations and reporting requirements across financial, property and digital asset
Just two hours: New IT Rules trim deepfake takedown time – Business News | The Financial Express
Clipped from: https://www.financialexpress.com/business/news/just-two-hours-new-it-rules-trim-deepfake-takedown-time/4138238/ Platforms are additionally required to communicate their rules, privacy policies and the consequences of non-compliance – such as account suspension, termination or reporting
Tax refunds delay: Nearly 24 lakh ITRs pending for processing for more than 90 days, govt explains why – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/tax-refunds-delay-nearly-24-lakh-itrs-pending-for-processing-for-more-than-90-days-govt-explains-why-4137937/ Nearly 24.6 lakh income tax returns are pending for processing for over 90 days, the government told Parliament, citing technology-driven risk analysis and
New Income Tax Rules explained: How fewer forms, tax-free perks and higher HRA benefit taxpayers – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/new-income-tax-rules-explained-how-fewer-forms-tax-free-perks-and-higher-hra-benefit-taxpayers-4137980/ Central Board of Direct Taxes has released draft Income-tax Rules and Forms to simplify compliance under the Income-tax Act, 2025, cutting paperwork, raising
Lost gold worth Rs 18 lakh on a scooter, won over Rs 43 lakh compensation after 12 years: how a husband fought with the insurer – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/lost-gold-worth-rs-18-lakh-on-a-scooter-won-over-rs-43-lakh-compensation-after-12-years-how-a-husband-fought-with-the-insurer/articleshow/128114382.cms Listen to this article in summarized format On January 7, 2010, around 1.30 PM, Mr. Sharma was riding his scooter to Narela, carrying
Section 87A tax rebate allowed on both long and short term capital gain income from equity for AY 2024-25 by ITAT Indore; Know why – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/section-87a-tax-rebate-allowed-on-both-long-and-short-term-capital-gain-income-from-equity-for-ay-2024-25-by-itat-indore-know-why/articleshow/128144699.cms Listen to this article in summarized format On January 16, 2026, the Income Tax Appellate tribunal (ITAT) Indore granted a full Section 87A tax rebate on both
Got income tax notice or facing income tax scrutiny? Budget 2026 offers relief through revised, updated ITR, and immunity from prosecution – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/got-income-tax-notice-or-facing-income-tax-scrutiny-budget-2026-offers-relief-through-revised-updated-itr-and-immunity-from-prosecution/articleshow/128137805.cms Listen to this article in summarized format For many salaried workers and other taxpayers, the last year has been filled with a flood
One-time capital gains set-off dropped in latest version of Income Tax Act 2025: How it impacts your tax bill – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/one-time-capital-gains-set-off-dropped-in-latest-version-of-income-tax-act-2025-how-it-impacts-your-tax-bill/articleshow/128156419.cms Listen to this article in summarized format The previous draft of the Income Tax Act, 2025 had a beneficial provision that has been taken out
Cyber Law
file:///C:/Users/Admin/OneDrive/ART/Cyber%20Law-Seminar/isea-awarenss-presentaions-english.pdf