A landmark ruling by the Delhi Income Tax Appellate Tribunal confirms that stipends received by postgraduate medical students for educational purposes are exempt from tax, provided the payments are linked to academic training rather than employment remediation. A recent ruling…
As India’s tax audit deadline looms, chartered accountants navigate last-minute digital hurdles and detailed reporting requirements to ensure compliance before September 30, 2026. India’s tax audit season is entering its final stretch, with just 12 days left before the September…
India has introduced the most significant overhaul of its e-commerce consumer rules since 2020, set to take effect in January 2027, focusing on transparency, seller disclosures, and dark-pattern regulation. India has overhauled its e-commerce consumer rules, with new obligations on…
The Supreme Court has ruled that tax officers cannot reopen issues already settled by the Income Tax Settlement Commission, reinforcing the finality of settlement orders and limiting reassessment powers following a dispute involving Omaxe Limited. The Supreme Court has ruled…
The Indian government has dismissed rumours of GST on UPI merchant discount rate payments, reaffirming that UPI transactions remain free for most users despite ongoing discussions about introducing transaction fees for higher-value payments. India’s finance ministry has moved to cool…
Investors in the 2019-20 Series IV Sovereign Gold Bonds have seen substantial paper gains, but upcoming tax amendments and premature redemption rules introduce new considerations for overall returns. Sovereign Gold Bond holders in the 2019-20 Series IV tranche are set…
India’s Supreme Court has directed the Reserve Bank of India to strengthen enforcement of lawful vehicle repossession processes amid concerns over unlawful methods used by lenders, emphasising constitutional protections and borrower rights. The Supreme Court of India has told the…
The Indian government has eased key export entry requirements for consignments valued at up to Rs 3 lakh, aiming to reduce compliance costs and support micro, small and medium-sized enterprises in entering international markets more easily. India has eased a…
The Bengaluru GST Appellate Tribunal clarifies that discrepancies in input tax credit found during routine audits do not alone justify harsher penalties under Section 74 of the CGST Act, emphasizing the need for proof of fraud or suppression. The GST…
The Reserve Bank of India has clarified that smaller asset reconstruction companies can participate as resolution applicants in insolvency bids without meeting the Rs 1,000-crore net owned fund threshold, opening new opportunities for mid-sized players in distressed assets recovery. The…
The Union Cabinet has approved increasing the mandatory wage ceiling for Employees’ Provident Fund Organisation to Rs 25,000, potentially bringing millions more workers under formal social security schemes from September 2026. The Union Cabinet has approved a rise in the…
As businesses seek greater efficiency and accuracy, AI-powered GST reconciliation tools are transforming how companies detect discrepancies and ensure precise indirect tax reporting, highlighting a shift towards automated, intelligence-led processes. GST reconciliation sits at the centre of accurate indirect tax…
