Year: 2025

/ Uncategorized

Biometric Authentication process: GST Registration Applicant

Enhanced Biometric Authentication process for applicants The Goods and Services Tax Network has recently enhanced the biometric authentication process for new GST registration applicants. Previously, applicants identified for biometric-based Aadhaar authentication were required to visit their designated jurisdictional GST Suvidha Kendra for verification. Now promoters and directors of certain businesses can complete this mandatory biometric …

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/ IBC

Applicability of Interim moratorium u/s 96 of the IBC

Applicability of Interim moratorium u/s 96 of the IBC: In the case of Saranga Anilkumar Aggarwal vs. Bhavesh Dhirajlal Sheth & Ors., the Supreme Court addressed the applicability of the interim moratorium under Section 96 of the Insolvency and Bankruptcy Code (IBC) concerning penalties imposed by regulatory bodies. The Court clarified that such penalties do …

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/ DTAA

TRC CERTIFICATE FOR NRI INDIAN- STEP-BY-STEP PROCEDURE

TAX RESIDENCE CERTIFICATE FOR NON-RESIDENT INDIANS—STEP-BY-STEP PROCEDURE 1. Documentation requirement for TRC Certificate: The Central Board of Direct Taxes finally issued Rule 21AB, which outlines the format in which the TRC should be submitted. The following documents or information are required for TRC. Name of the taxpayer Status (individual, company, firm etc.) of the taxpayer …

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/ Business Registration Services

Overview of Non-STPI registration & SOFTEX filing

Overview of the importance of non-Software Technology Parks of India & SOFTEX filing Non-STPI Registration Any company, partnership firm, or proprietorship engaged in the development of export-oriented computer software or IT-enabled services can register as a Non-STP unit under Software Technology Parks of India to obtain SOFTEX certification. The RBI through a circular issued in …

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/ NRI

All about ITR-U & related amendment in the Budget 2025

Summary on the ITR-U & Amendments in the Budget 2025 Introduction: ITR-U allows taxpayers to rectify mistakes or omissions in previously filed returns, including original, belated, or revised returns under Section 139(8A) of the Income Tax Act. It serves as an option for taxpayers to ensure accurate tax filing and compliance. With the Budget 2025 …

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/ Insolvency and Bankruptcy Code

Do’s & Don’ts for IPs During Moratorium under IBC

Moratorium under Insolvency and Bankruptcy Code (IBC), 2016 The moratorium is a key feature of IBC, ensuring the Corporate Debtor’s assets remain protected during CIRP, thereby maximizing resolution opportunities. It balances creditors’ rights with the debtor’s need for restructuring, preventing disruptive enforcement actions. The moratorium is a temporary suspension of legal proceedings and enforcement actions …

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/ IBC

Overview on Mandatory Requirement of AFA under IBC Code

Overview on Mandatory Requirement of AFA under IBC Code This document provides an overview of the Authorisation for Assignment under the IBBI (Insolvency Professionals) Regulations, outlining its meaning, eligibility criteria, procedural aspects, and key do’s and don’ts for Insolvency Professionals. The AFA is a crucial requirement for insolvency professionals under the Insolvency and Bankruptcy Code, …

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