A common tax-saving strategy involving Hindu Undivided Families (HUFs) is being challenged by recent legal clarifications, highlighting that income from transferred assets remains taxable in the original owner’s hands, limiting the effectiveness of passing wealth through HUFs for tax benefits.…
India’s markets regulator has directed Growpital and related entities to repay over ₹192 crore to investors after finding it operated a unauthorised collective investment scheme linked to agricultural projects, with penalties and bans imposed on key promoters. India’s markets regulator…
The Rajasthan High Court has requested the Central Board of Direct Taxes to clarify whether the tax audit report deadline for 2026-27 should be extended amid pressure from Chartered Accountants seeking more time, with the court set to hear final…
The Central Board of Direct Taxes has granted audited account taxpayers a longer window to file their income tax returns and submit audit reports, aiming to ease operational strain and improve compliance for businesses and professionals. The Central Board of…
India’s Central Board of Direct Taxes has temporarily extended deadlines for income tax return filing and audit reports for assessment year 2026-27, responding to professional pressure and maintaining robust tax collections. India’s Central Board of Direct Taxes has given taxpayers…
India’s Central Board of Direct Taxes has further extended the deadlines for tax audits and income tax return submissions for the 2026-27 assessment year, providing taxpayers and advisers additional time amid ongoing compliance adjustments. Taxpayers whose accounts must be audited…
The Himachal Pradesh High Court has allowed Nirdosh Bhushan to restart his legal challenge to reassessment steps following a Supreme Court order, signalling a new phase in the dispute over Section 147A of the Income Tax Act. The Himachal Pradesh…
Taxpayers facing delays in income tax refunds can often resolve issues related to PAN-Aadhaar linking, verification deadlines, or bank account validation, simple checks that can speed up the process. An income tax refund can remain stuck even after a return…
SEBI introduces Specialised Investment Funds (SIFs) in 2024, offering experienced investors a flexible middle ground between traditional mutual funds and portfolio management services, with greater strategic options and associated risks. India’s mutual fund market has a new intermediate option for…
India’s upcoming overhaul of e-commerce consumer rules aims to enhance regulator oversight over online marketplace behaviour, with stricter rules on data use, transparency, and platform conduct, set to be implemented in January 2027. India’s latest overhaul of e-commerce consumer rules…
India’s insurance regulator, IRDAI, proposes sweeping reforms to make motor insurance more transparent, reduce dealer dominance, and promote direct consumer access through digital markets, potentially reshaping industry practices. India’s insurance regulator is preparing a broad rethink of how motor cover…
While employees frequently check their provident fund balances when changing jobs, experts warn that the scheme certificate , a record of pensionable service , is crucial for ensuring long-term retirement benefits and family security, yet often overlooked. When workers change…
