Why CAs & CSs Must Retain Original Signed Documents Before MCA Filings A Critical Compliance Lesson from a Recent Chandigarh Case In today’s digital compliance environment, filing documents on the MCA portal has become routine for Chartered Accountants (CAs), Company Secretaries (CSs), and corporate professionals. However, a recent criminal case from Chandigarh has exposed […]
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Capacity Based Central Excise Duty on Chewing Tobacco Tax, Jarda & Gutkha from 1 February 2026 The Central Board of Indirect Taxes and Customs (CBIC) has notified a major change in the excise duty framework for manufacturers of chewing tobacco, jarda scented tobacco and gutkha. With effect from 1st February 2026, Central Excise Duty on
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MCA Notifies Major Changes in Directors KYC Rules – DIR-3-KYC Amendment 2025 The Ministry of Corporate Affairs (MCA) has issued an important notification dated 31 December 2025, introducing the Companies (Appointment and Qualification of Directors) Amendment Rules, 2025. These amendments bring significant relief to directors by simplifying the Director KYC (Know Your Customer) compliance process
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Buyer Not Liable for Seller’s Tax Default: Supreme Court’s Landmark Principle on Input Tax Credit Introduction Input Tax Credit (ITC) is the backbone of every value-added indirect tax system. Whether under the earlier Value Added Tax (VAT) laws or the present Goods and Services Tax (GST) regime, ITC ensures that tax is levied only
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Income Tax Dept Is Tracking These High Value Transactions (Transaction Limits, Criteria & Notice Risk Explained) Many taxpayers think that the Income Tax Department only checks what is written in the Income Tax Return. This assumption is incorrect. In reality, the Income Tax Department tracks specific high value financial transactions automatically, even if you
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How to Check AIS Before Filing ITR (Avoid Notice 100%) Filing your Income Tax Return (ITR) without checking your AIS is one of the biggest and most common mistakes taxpayers make in India today. Many income tax notices — especially mismatch notices — are not issued because tax was intentionally evaded, but simply because the
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AIS Mismatch Notice: Meaning, Reasons, Legal Implications An AIS mismatch notice has become one of the most common and confusing communications issued by the Income Tax Department in recent years. Many taxpayers receive such notices even after filing returns honestly and paying due taxes. The reason is simple: the tax system today is data-driven,
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Income Tax Notice for High Cash Deposit – What to Do Immediately (Complete Practical & Legal Guide) Receiving an income tax notice for high cash deposit is one of the most common and most misunderstood experiences for taxpayers in India today. Every year, thousands of salaried individuals, small business owners, traders, professionals, and even
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FAQs on Section 80G of the Income Tax Act, 1961 (NUDGE Campaign – Official Compilation) Section 80G of the Income Tax Act, 1961 provides for deduction in computing the total income of an assessee in respect of donations made to certain funds, charitable institutions, trusts, and other specified entities. The provisions of this section aim
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GST Advisory & FAQ on Electronic Credit Reversal and ITC Re claimed Statement & RCM Liability/ITC Reversal Statement Dec 29th, 2025 1. To ensure correct and accurate reporting of reversed and reclaimed ITC and to avoid clerical mistakes, Electronic Credit Reversal and Re-claimed Statement (Reclaim Ledger) was introduced on the GST portal from August 2023 return period onwards
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