Companies can file CRA-4 for FY 2025-26 without an additional fee until 31 December 2026, but the underlying deadline remains in place and late charges will still apply thereafter. India’s Ministry of Corporate Affairs has given companies a short but…
The Banking Laws (Amendment) Act, 2024 allows up to four nominees and introduces successive or simultaneous nominations, but a nominee’s death can leave part of a deposit subject to the legal-heir claims process. India’s banking rules on nominations for deposits…
India Post and UTI Mutual Fund have extended their partnership to offer doorstep investor verification nationwide, targeting remote areas and reducing barriers to mutual fund access. India Post and UTI Mutual Fund have extended their existing tie-up to widen doorstep…
India’s Supreme Court has urged the Reserve Bank of India to impose enforceable compensation rules on banks and financial institutions whose weak safeguards allow digital fraudsters to steal customers’ money. India’s Supreme Court has told the Reserve Bank of India…
Dividends and mutual fund IDCW payouts are taxed at investors’ slab rates, while the removal of interest deductions further strengthens the case for growth options among higher-rate taxpayers. Dividend income in India is taxed in the hands of the investor,…
India’s retirement fund manager is considering allocating up to 3% of new annual inflows to Category I and II alternative investment funds, subject to strict safeguards. The Employees’ Provident Fund Organisation is drawing up new rules that could open the…
A new disclosure scheme gives eligible taxpayers until 31 December 2026 to report certain overseas assets or income, with payments ranging from ₹1 lakh to 60% of the declared value. India’s new Foreign Assets of Small Taxpayers Disclosure Scheme, 2026,…
A new CBIC circular withdraws the earlier restriction, allowing dealers operating under an agency model to claim input tax credit on demonstration vehicles, subject to normal GST conditions. The Central Board of Indirect Taxes and Customs has clarified that input…
Turnover is only one part of the GST registration test: the nature and location of supplies, and the supplier’s legal status, can trigger liability from the first taxable sale. In GST compliance, turnover is only the starting point. A business…
Eight CBIC circulars set clearer rules for GST registration, fraud-related tax demands, AI-assisted adjudication and export proceeds settled against import payments. India’s Central Board of Indirect Taxes and Customs has issued eight circulars intended to make goods and services tax…
Cash bonuses are treated as salary in India, while the tax treatment of vouchers, gadgets and festive gifts varies according to their value and whether they come from an employer, relative or friend. As Diwali approaches, many employees in India…
From 1 January 2027, businesses already covered by India’s GST e-invoicing regime will also have to digitally report qualifying reverse-charge purchases from unregistered suppliers and imports of services. India’s tax authorities have widened the scope of GST e-invoicing, bringing certain…
