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Curated compliance news across statutes.
Deposited wedding gift money in your bank account? ITAT ruling explains when cash deposits can face income tax
The Pune ITAT accepted ₹2.75 lakh of a bank employee’s ₹3 lakh cash deposits as wedding gifts and savings but sustained a ₹25,000 addition due to missing gift confirmations. The ruling highlights why taxpayers should maintain records of
Why turn SME stocks into speculators’ hub?
SEBI consultation paper proposes to lower lot sizes for SME stocks to one share. This will increase trading activity on these platforms
One year of GST 2.0: How did State revenues fare?
Tax impact. The aggregate State GST revenue dipped only marginally but this hides an uneven picture for States
Factory output growth slows to 6.7 per cent in September
While mining contracted 6.2 per cent due to late monsoon, the broader IIP slowdown is attributed to base effects and GST 2.0 adjustments
Individual investors in YES Bank’s AT-1 bonds request RBI to ensure implementation of SC judgment
The individual bond holders forum emphasised that it recognises that the coupon terms must be examined separately for each issuance and that the IM contain provisions relevant to coupon discretion
Factory output growth slows to 6.7 per cent in September
While mining contracted 6.2 per cent due to late monsoon, the broader IIP slowdown is attributed to base effects and GST 2.0 adjustments
Alerts & Updates
Draft GST return forms to be put up on Nov 1 for public comments
GST Council’s recommendations includes various measures to streamline return filing process, to minimize mismatches in liability and input tax credit (ITC) in returns
Finance Ministry to invite comments on amended GST return forms from Nov 1
The Finance Ministry will invite comments from businesses on the proposed changes in monthly GST return forms, beginning November 1, a senior official said on Thursday. Central Board of Indirect Taxes (CBIC) Commissioner GST Policy Wing Gau
Finance Ministry to invite comments on amended GST return forms from Nov 1
The Council approved enhancements in GST Forms GSTR-1/1A/IFF to enable better reconciliation of the details furnished in these forms with the details reported in the returns in monthly tax payment form GSTR-3B
Last date alert! Income tax audit deadline ends today: Who must file? What happens if you miss the due date?
Tax audit reports for AY 2026-27 are due October 21, 2026, while audited taxpayers’ income tax returns are due November 21. Here's all you need to know to ensure compliance.
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