SEBI enabled T+2 trading of Bonus shares where T is the record date SEBI has decided to enable T+2 trading of Bonus shares where T is the record date. This would reduce the time taken for credit of bonus shares and trading of such shares, from the record date …

SC declines to interfere with HC order seeking intervention of PM office for action against Income Tax officials In a recent order, Hon’ble Supreme Court has declined to interfere with Hon’ble Bombay High Court judgment seeking intervention of PM office to take action against Income Tax officials for …

PCIT approval for reopening was without application of mind as despite response it said no reply was submitted by the assesse u/s 148A(b) of the Act  In a recent judgment, Hon’ble Allahabad High Court has quashed order u/s 148A(d) and notice issued u/s 148 observing that PCIT approval …

PCIT approval for re-opening only by putting signing was without application of mind -SC dismissed SLP  PCIT approval for re-opening only by signing was without application of mind –Supreme Court dismisses SLP of the Income Tax Department   In a recent judgment, Hon’ble Supreme Court has dismissed the …

National Payments Corporation of India (NPCI) has increased the UPI per transaction limit to Rs. 5 lakhs for tax payments with effect from 15th September 2024 UPI per transactions limit has been increased to Rs. 5 lakhs for tax payments. Earlier, in 2021. NPCI w.e.f. 14th December 2021 …

Re-assessment concluded prior to Supreme Court judgment in Ashish Agarwal can not be opened afresh In a recent judgment, Hon’ble Delhi High Court has held that Income Tax Department was not justified in issuing notices afresh seeking to reopen the proceedings u/s 147 which had been concluded prior …