CBDT Notifies IREDA Bonds as Long-Term Specified Asset U/s 54EC The Central Board of Direct Taxes has officially notified bonds issued by the Indian Renewable Energy Development Agency as long-term specified assets u/s 54EC of the Income Tax Act, 1961. This provides taxpayers with an additional avenue for claiming capital gains tax exemption, while also …
Key guidance for MF to ensure accurate ITR filings & avoid inflated capital gains reporting due to duplicate entries in the AIS: What is the issue: duplicate mutual fund redemptions in AIS What’s Happening in such a case: During this year’s ITR filing season, a peculiar issue has emerged in the AIS reporting of mutual …
ICAI allows Indian CA firms to officially tie up with Global Networks. ICAI now allows Indian chartered accountant firms to officially tie up with global accounting networks. The Institute of Chartered Accountants of India has introduced a forward-looking framework that provides a much-needed legal and ethical structure for Indian CA firms to collaborate with global …
Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2025 – 5th Amendments Procedural & disclosure in CIRP framework The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2025 introduces important procedural and disclosure-related amendments to the CIRP framework under the IBC. These amendments Reinforce the importance of …
MCA Revised Mandatory Disclosures Form INC-22A Key Amendment – Substitution of Form INC-22A – MCA Notifies Companies (Incorporation) Amendment Rules, 2025 Summary of the latest development regarding the Companies (Incorporation) Amendment Rules, 2025, as notified by the Ministry of Corporate Affairs (MCA). The amendment introduces a revised e-form INC-22A, Form No. INC-22A (ACTIVE) – Active …
Update on Income Tax Return Processing Transparency Just two days ago, during our live session, we highlighted that only 95k ITRs had been processed—despite over 55 lakh filings already being recorded. Now, the Income Tax Department has removed the Income tax return processed count from its official website. This move raises serious concerns. As Income …
Overview & Taxation of Real Estate Investment Trusts (REITs) in India What Are Real Estate Investment Trusts ? REITs (Real Estate Investment Trusts) are investment vehicles that allow individuals to invest in income-generating commercial real estate—such as office spaces, malls, warehouses—without owning physical property. Real Estate Investment Trusts are an excellent way to diversify a …
Cash Deposits under Presumptive Taxation—Whether Attract Section 68 or 69A? Cash deposits under presumptive taxation schemes (Sections 44AD, 44ADA, & 44AE) and their implications u/s68 of the Income Tax Act. Section 44AD/ADA/AE allows eligible businesses and professionals to declare profits on a presumptive basis, thereby exempting them from maintaining books of accounts u/s44AA, provided they …
New IBBI Forms LIQ 1–4 Introduced to Streamline Liquidation Reporting In the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, if No resolution plan is received, or The maximum time period expires, and the Adjudicating Authority (AA) may order liquidation of the Corporate Debtor. To strengthen oversight and improve compliance, the Insolvency and Bankruptcy …
Cyber Jaagrookta Diwas: Stay Alert, Stay Secure—Beware of Social Engineering! On this Cyber Jaagrookta Diwas, let us raise awareness about the growing threat of social engineering attacks. Cybercriminals often exploit human emotions—such as fear, curiosity, sympathy, or pride—to manipulate individuals into revealing confidential information or performing harmful actions. This Cyber Jaagrookta Diwas, we are spreading …