Interest income to be excluded from gross receipts while computing percentage of Govt. finance for determining the exemption u/s 10(23C)(iiiab). In a recent judgment, ITAT Ranchi has held that interest income is not to be included in gross receipts of the society while computing 50% of Govt. financing …

RBI lays down revised rules for bank prepayment charges on all floating rate loan & advances sanctioned or renewed on or after January 1, 2026.  Reserve Bank of India has issued RBI (Pre-payment Charges on Loans) Directions, 2025. These Directions shall apply to all commercial banks (excluding payments banks), co-operative …

Revised and up to date list of acceptable supporting documents for Aadhaar enrolment and update from 3rd July 2025. UIDAI has revised list of acceptable supporting documents for Aadhaar enrolment and updation. The Unique Identification Authority of India amended the Aadhaar (Enrolment and Update) Regulations, 2016 by notifying …

Addition u/s 36(1)(va) for delayed payment of EPF upheld holding that Supreme Court judgment imparts meaning to statute from the inception date. In a recent judgment, ITAT Patna upheld the addition under section 36(1)(va) for delayed payment of EPF holding that any interpretation of a statute by the …

No GST demand from son for the deceased father firm without showing that son was continuing the business in the name of his father’s proprietary concern. In a recent judgment, Hon’ble High Court of Jharkhand quashed GST order making demand from the son of the deceased father as …

Addition for extra sales on the basis of trading account for truncated period of the financial year deleted by ITAT In a recent judgment, ITAT Allahabad deleted addition for excess sales on the basis of reconstructed trading account for truncated period of the financial year being in contravention …