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CBDT Notifies New Consequences for Inoperative PAN
The Income-tax (Fourth Amendment) Rules, 2023 - Amendment in Rule 114AAA Notification G.S.R. 227(E) [No. 15/2023/F.NO....
Mar 23, 20233 min read
Virtual Digital Assets ('VDA') brought under the purview of PMLA
In a recent notification (Notification bearing no. S.O. 1072(E) dated 07.03.2023 (“the Notification”)), the Ministry of Finance has...
Mar 15, 20233 min read
Charitable Trusts: New Audit Report Format for Greater Transparency and Compliance
Introduction: The Central Board of Direct Taxes (CBDT) recently issued notification No. 07/2023, dated 21.02.2023, introducing...
Mar 15, 20234 min read
GST prosecution: Whether assessment is a must before prosecution?
The GST Acts lay down provisions for criminally prosecuting a person in case there are certain contraventions of the tax law. However,...
Mar 10, 202310 min read
New Compounding Provisions for Foreign Contribution Offenses
Compounding provisions under Foreign Contribution (Regulation) Act, 2010 amended w.e.f. 01.07.2022 – 5 new offences now made compoundable...
Mar 2, 20232 min read
Customs (Assistance in Value Declaration of Identified Imported Goods) Rules, 2023
The trend of undervaluing imported goods, for the purpose of evading customs duty or for other ulterior purposes, has been on a constant...
Feb 12, 20235 min read
Online Gaming: Proposed changes in tax law
The Finance Bill 2023, tabled on 1st February 2023, has proposed several changes to the tax regime applicable to online gaming - both for...
Feb 2, 20234 min read
Merchanting Trade in India
Merchanting trade, more popularly known as 'intermediary trade', is a common trading model yet becoming increasingly difficult for...
Jan 31, 202312 min read
[Delhi HC] Evasive replies during interrogation cannot disentitle a person from the grant of bail
The Delhi High Court, in Bindu Rana vs Serious Fraud Investigation 2023 SCC OnLine Del 276 , has recently held in a decision that evasive...
Jan 30, 20233 min read
Online Gaming: Draft Amendments to IT Intermediary Rules
Online gaming law in India has been a highly contested legal field due to the statutory development being at the nascent stage. Many...
Jan 27, 20237 min read
The 1st thing startups should do is to put in place a founders' agreement.
Putting in place a short, simple agreement between the founders (also known as " founders' agreement ") of any startup right from the...
Jan 22, 20235 min read
[SC] Property not exempt under SARFAESI Act if merely shown as agricultural land in revenue records
The Supreme Court has recently held in K Sreedhar v Raus Construction Pvt Ltd 2023 SCC OnLine SC 13 that merely because certain...
Jan 20, 20234 min read