Labour Codes 2026: Key Buzzwords Every Employer, HR Professional & Business Must Know No. Labour Code Term Quick Meaning 1 Wage Definition Standardized definition of wages for labour law compliance and statutory calculations. 2 Floor Wage Minimum benchmark wage notified by the Central Government for all states. 3 Minimum Wages Wage protection extended to a …
Complete 2026 Guide on Reverse Charge Mechanism under GST As per 2026 updated RCM list & RCM rules, the Reverse Charge Mechanism (RCM) is a GST provision where the recipient of goods or services is liable to pay GST instead of the supplier. The legal basis for RCM is provided under Section 9(3) and 9(4) …
NCLT Approves Subhash Chandra’s INR 6.5 Crore Repayment Plan Against INR 22,006 Crore Claims: Understanding the Legal Rationale Under IBC The recent approval by the National Company Law Tribunal (NCLT) of a repayment plan proposed by Essel Group Chairman and Zee founder Subhash Chandra has sparked widespread debate across the insolvency and banking sectors. The …
Instant Personal Loans: Benefits, Risks, and When to Use Them Unexpected expenses can strain your monthly budget. A medical bill, urgent home repair, education expense, or planned purchase may require funds sooner than expected. In such situations, an instant personal loan can provide quick access to funds without requiring collateral. Digital lending has also made …
UPI to Remain Free for Citizens: Govt Commitment to India’s Digital Payments Revolution India’s Unified Payments Interface (UPI) has emerged as one of the country’s most successful digital innovations, transforming the way individuals and businesses conduct financial transactions. From small roadside vendors and neighborhood stores to large businesses and consumers, Unified Payments Interface has become …
Common GST Return Mistakes That Can Trigger Scrutiny Notices, Audit or Demand Proceedings Businesses now operate in a highly data-driven GST compliance environment. GST authorities actively use data analytics, AI-based risk assessment, and return cross-verification to identify discrepancies. Consequently, even minor reporting errors can trigger scrutiny notices (ASMT-10), departmental audits, or tax demand proceedings. Share …
Income Tax Department’s Verification Drive on Suspicious Foreign Remittances CBDT press release dated 18 August 2026 announcing a nationwide verification exercise targeting suspicious outward foreign remittances. The Department has identified entities that remitted substantial funds abroad despite reporting little or no genuine business activity. What Triggered the Investigation? The Income Tax Department analyzed foreign remittance …
FAST-DS 2026 (Foreign Assets of Small Taxpayers Disclosure Scheme, 2026) The attached document explains the FAST-DS 2026, a one-time voluntary disclosure scheme introduced by the Government of India for small taxpayers holding undisclosed foreign assets or foreign income. The scheme is effective from 16 August 2026 and remains open until 31 December 2026. What is …
Direct Tax Collections FY 2026-27 (as on 10 August 2026) – Detailed Analysis The table compares direct tax collections up to 10 August 2026 with the corresponding period of FY 2025-26. It covers Gross Direct Tax Collections (before refunds), Refunds Issued and Net Direct Tax Collections (after deducting refunds) All figures are in INR crore. …
Major Tax Dept. verification drive on suspicious foreign remittances The major income tax dept verification drives on suspicious foreign remittances and is particularly relevant for businesses making overseas payments and for professionals issuing Form 15CB/Form 146 certifications. What triggered the investigation of suspicious foreign remittances? The Income Tax Department’s nationwide verification exercise originated from search …