India’s non-profit reporting system shifts from a dual-form framework to a unified Form 112 from April 2026, marking a significant overhaul in how charitable organisations fulfil audit and compliance requirements. For charitable and religious trusts, the key compliance question has…
The Bombay High Court has reiterated that banks are responsible for safeguarding and returning original title papers, ordering the SBI to pay compensation for missing property deeds decades after loan repayment. This ruling highlights systemic issues in India’s property record…
The Mumbai Income Tax Appellate Tribunal has clarified that redevelopment gains linked to co-operative housing societies cannot be automatically taxed, emphasizing the importance of proper documentation and the specific nature of transfer benefits for tax purposes. Mumbai’s tax tribunal has…
A recent ruling by the Income Tax Appellate Tribunal in Panaji provides relief to charitable trusts on late filing of Form 10B audit reports, emphasising that procedural delays may not always invalidate tax exemptions if substantive requirements are met before…
Consumers in Turkey should carefully scrutinise fee-free credit cards, as regulations ensure some charges and restrictions remain despite the ‘aidatsız’ label, emphasising the importance of reading the fine print for actual costs and benefits. Consumers choosing a fee-free credit card…
The Pune bench of the Income Tax Appellate Tribunal has ordered a fresh hearing for a trust after ruling that its total receipts cannot be taxed without accounting for expenses, citing procedural delays and the importance of fair assessment. The…
Reinforcing the importance of meticulous documentation and timely filings, India’s GST system has become increasingly stringent in its input tax credit claims, demanding higher compliance standards from businesses since the introduction of invoice matching requirements in 2022. Input tax credit…
The Central Bureau of Investigation in India has issued a warning to crypto users amid a surge in Tamil Nadu-linked investment scams involving P2P offers and illicit USDT transactions, highlighting the risks of unregulated trading and money laundering. The Central…
In India, a single mistyped UPI ID or account number can rapidly send money to the wrong recipient. Experts emphasise immediate reporting to banks and authorities significantly improves chances of recovery, amid growing caution around verifying transaction details before approval.…
A detailed exploration of the three distinct tests of jurisdiction in civil law, their practical implications, and the recent Supreme Court debates on consumer forum limits and jurisdictional thresholds in India. In civil litigation, jurisdiction is not a single idea…
India’s tech industry body Nasscom is calling for comprehensive reforms to the goods and services tax system, aiming to better accommodate the needs of digital firms, data centres, and cross-border services, as it seeks to remove barriers and clarify export…
India’s tax authorities have recast the rules on tax deducted at source for commission and brokerage, integrating old provisions into a clearer, table-based structure under the Income-tax Act 2025 from 1 April 2026, while maintaining significant exemptions and thresholds. India’s…
