Clipped from: https://www.financialexpress.com/money/will-is-the-last-word-in-inheritance-with-probate-now-struck-off-4095729/ The Indian government has abolished the mandatory requirement to probate a Will, a major reform under the Repealing and Amending Act, 2025. This
Category: Self Education
*******Decade-old income tax demands resurface on portal, leaving taxpayers scrambling for proof – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/decade-old-income-tax-demands-resurface-on-portal-leaving-taxpayers-scrambling-for-proof/articleshow/126312362.cms Synopsis Old income tax demands from as early as 2005 are resurfacing on tax portals, with accumulated interest often exceeding the principal amount.
*Data protection must be a CEO-level concern to ensure customer confidence: Sachin Tayal, Managing Director, Protiviti – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/data-protection-must-be-a-ceo-level-concern-to-ensure-customer-confidence-sachin-tayal-managing-director-protiviti/article70464949.ece Says CEOs should have an active part in the compliance efforts, engaging with employees, and considering how data is collated and used Sachin
*******JAO vs. FAO: Section 148 Reassessment Powers – Evolving Delhi HC and SC Position
Clipped from: https://taxguru.in/income-tax/jao-vs-fao-section-148-reassessment-powers-evolving-delhi-hc-sc-position.html JAO vs. FAO: Reassessment Powers under Section 148 – Evolving Delhi High Court and Apex Court Position It is pertinent to note that
*****Deceptive sheen – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/deceptive-sheen/article70452869.ece Gold, silver rally alongside financial assets, a warning sign The rally in precious metals may very well continue into 2026 | Photo Credit:
*******Digital inheritance: Why a legal will is no longer enough – Money Insights News | The Financial Express
Clipped from: https://www.financialexpress.com/money/insights/digital-inheritance-why-a-legal-will-is-no-longer-enough/4092959/ In today’s digital-first world, inheritance is no longer just about wills and paperwork, but about access to smartphones, apps and online accounts. From
*******Fixing the fine print: What the IBC amendment is really trying to change | Industry News – Business Standard
Clipped from: https://www.business-standard.com/industry/news/fixing-the-fine-print-what-the-ibc-amendment-is-really-trying-to-change-125123000720_1.html Focused on enforcement over fresh ideas, the IBC amendment Bill seeks to cut delays, curb conflicts of interest and bring greater certainty to
Why CA Cannot issue GST Clearance Certificate in Service Tenders: Insights from Bombay HC Order [Read Order]
Clipped from: https://www.taxscan.in/top-stories/why-ca-cannot-issue-gst-clearance-certificate-in-service-tenders-insights-from-bombay-hc-order-1440666?TRN300=SekwjRcdsAuMKvsgUYkMcbgwAcJuwuMkvcGUykqhGJxMEdFSIMSBJiuRKMsAsx&LKD333=3307259 A GST clearance certificate in service tenders must come from the GST Department, as a Chartered Accountant has no statutory authority to certify
*****CBIC Circular on GSTR-2A vs 3B ITC Difference Ignored by GST Dept: Karnataka HC sets aside orders [Read Order]
Clipped from: https://www.taxscan.in/top-stories/cbic-circular-on-gstr-2a-vs-3b-itc-difference-ignored-by-gst-dept-karnataka-hc-sets-aside-orders-1439928?TRN300=SekwjRcdsAuMKvsgUYkMcbgwAcJuwuMkvcGUykqhGJxMEdFSIMSBJiuRKMsAsx&LKD333=3307226 ITC cannot be disallowed merely on the basis of GSTR-2A and GSTR-3B differences without following the CBIC-mandated procedure. The Karnataka High Court has
*******ITC Claimed, Reversed and Re-Claimed in FY 2024-25: How Will It Reflect in GSTR-9? [GSTR 9/9C FAQ Explained]
Clipped from: https://www.taxscan.in/top-stories/itc-claimed-reversed-and-re-claimed-in-fy-2024-25-how-will-it-reflect-in-gstr-9-gstr-99c-faq-explained-1440278?TRN300=SekwjRcdsAuMKvsgUYkMcbgwAcJuwuMkvcGUykqhGJxMEdFSIMSBJiuRKMsAsx&LKD333=3307256 To prevent mismatches, audit objections, and future disputes consistent and proper reporting across these tables is essential. In this article, we’ll explain the
***Sale of Late Mother’s Flat for Multiple Residential Houses eligible for Income Tax S.54 Exemption: Bombay HC [Read Order]
Clipped from: https://www.taxscan.in/top-stories/sale-of-late-mothers-flat-for-multiple-residential-houses-eligible-for-income-tax-s54-exemption-bombay-hc-1429946?TRN300=SekwjRcdsAuMKvsgUYkMcbgwAcJuwuMkvcGUykqhGJxMEdFSIMSBJiuRKMsAsx&LKD333=3307229 The Assessing Officer had denied the Section 54 exemption and the Income Tax Appellate Tribunal (ITAT) partly allowed relief for only one unit.
*****Tribunal reversing order of CIT(A) without demonstrating any perversity is not justifiable
lipped from: https://taxguru.in/income-tax/tribunal-reversing-order-cita-demonstrating-perversity-justifiable.html Rajnandani Projects Pvt. Ltd. Vs PCIT (Patna High Court) Patna High Court held that ITAT was not justified in reversing the order of
*****Assessment u/s. 143(3) quashed as being in violation of provisions of section 144B
Clipped from: https://taxguru.in/income-tax/assessment-u-s-1433-quashed-violation-provisions-section-144b.html Optical Health Solutions Private Limited Vs Union of India (Telangana High Court) Telangana High Court held that initiation of proceedings under section 143(3)
*******With DPDP clock ticking, India Inc braces for ₹20,000-crore compliance spend – The HinduBusinessLine
lipped from: https://www.thehindubusinessline.com/info-tech/with-dpdp-clock-ticking-india-inc-braces-for-20000-crore-compliance-spend/article70446314.ece Following the notification of rules under the DPDP Act in November, the 18-month countdown for complying with the norms has begun for institutions
Banks will continue to face competition for resource mobilisation, says RBI | Banking – Business Standard
Clipped from: https://www.business-standard.com/industry/banking/banks-will-face-competition-for-resource-mobilisation-rbi-125122901033_1.html RBI said banks remain resilient with low bad loans and strong capital, but credit growth outpacing deposits will keep resource mobilisation competitive, requiring
IBC amendments don’t address real estate sector issues: ICRA – Industry News | The Financial Express
Clipped from: https://www.financialexpress.com/business/industry-ibc-amendments-dont-address-real-estate-sector-issues-icra-4091517/ In over nine years, the IBC has delivered better realisations for creditors over other recovery modes (DRT, SARFAESI) with total recovery of around
Wrong ITR Column Can’t Deny Trust Exemption: ITAT Kolkata
Clipped from: https://taxguru.in/income-tax/wrong-itr-column-cant-deny-trust-exemption-itat-kolkata.html Ramakrishna Prema Bihar Vs ITO (Exep) (ITAT Kolkata) Wrong Column in ITR Can’t Deny Trust Exemption: Kolkata ITAT Condones 2315-Day Delay & Restores
*******Appeals Before GST Appellate Tribunal: Procedure, Limitation & Compliance
Clipped from: https://taxguru.in/goods-and-service-tax/appeals-gst-appellate-tribunalprocedurelimitationcompliance-section-112-cgst-act-rules.html Appeals Before GST Appellate Tribunal: Procedure, Limitation & Compliance under Section 112 of CGST Act & Rules Summary: Section 112 of the CGST Act,
*******GSTAT Appeal Filing Explained Due to Mandatory Statement of Facts Limit
Clipped from: https://taxguru.in/income-tax/gstat-appeal-filing-explained-due-mandatory-statement-facts-limit.html Statutory Framework for Filing Appeals before GSTAT As per Rule 110(1) of the Central Goods and Services Tax Rules, 2017 , an appeal to the
*******Non-effective portal notices, without a fair hearing or opportunity to reply, violate principles of natural justice
Clipped from: https://taxguru.in/goods-and-service-tax/non-effective-portal-notices-fair-hearing-opportunity-reply-violate-principles-natural-justice.html Kurlon Retail Limited Vs Sales Tax Officer & Ors. (Delhi High Court) The Delhi High Court held that GST adjudication based on notices
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