Latest Updates
These 5 ELSS Funds Delivered 28 Percent Returns in 3 Years — Check the List
These 5 ELSS funds—ITI, SBI, Motilal Oswal, HDFC, and Quant—delivered up to 28% annualized returns in three years, far outpacing PPF, NSC, and fixed deposits. With the shortest three-year lock-in, ELSS combines tax benefits under Section 80C with equity-driven growth, making it one of the most powerful tax-saving tools in India. This article explores top performers, benefits, risks, taxation rules, and practical investing tips.
Rajya Sabha Sends Back Manipur Budget Bill in Opposition’s Absence
The Rajya Sabha’s return of Manipur’s budget and GST bills wasn’t a rejection — it was a constitutional formality. The Opposition’s absence, due to protests, added political drama but didn’t affect the outcome. This article explains the process for money bills, the political context, and the economic importance of these measures for Manipur, showing why understanding parliamentary procedure matters as much as keeping up with the headlines.
Kerala HC Rules KVAT Not Leviable on Hoardings—No Transfer of Use Rights to Third Parties
The Kerala High Court ruled that KVAT is not applicable to hoardings used for advertising if the right to use the hoarding is not transferred to third parties. This ruling offers relief to businesses in Kerala and clarifies tax obligations for outdoor advertising.
GST Notification 56/2023 Declared Illegal by Madras HC in Major Setback to Tax Authorities
The Madras High Court recently declared GST Notification No. 56/2023 illegal, invalidating several GST orders issued under extended timelines. Businesses now have eight weeks to file objections, ensuring compliance with constitutional procedures. This landmark ruling emphasizes the role of the GST Council and provides a wake-up call for tax authorities to respect the legal process in India’s tax regime.
ITR Refund Delayed? Here’s Why It’s Taking Longer and How You Can Track Your Status
ITR refund delays can be frustrating, but understanding why they happen and how to track your refund can help you avoid further issues. Learn how to stay on top of your refund process and ensure timely payments with our easy-to-follow guide.
SBI Takes Action: NCLT Admits Application for CIRP Over Rs. 25.75 Cr Financial Assistance
SBI has initiated the Corporate Insolvency Resolution Process (CIRP) against Raninga Paper Mills for a default of ₹28.12 crore. Learn about the steps involved in CIRP, its benefits for businesses and banks, and tips for businesses facing financial difficulties. Understanding the IBC can help businesses navigate insolvency challenges and ensure better financial management.
Gold Bar Drama: Delhi HC Steps In, Refers Lawyer’s Alleged Withholding to Mediation
The Delhi High Court’s intervention in a case involving two gold bars, a lawyer, and a dispute over possession serves as a reminder of the importance of legal ethics and transparency. The court referred the case to mediation, emphasizing amicable resolutions over drawn-out litigation. This article explores the case, offering valuable lessons for legal professionals and clients alike on handling disputes ethically and efficiently.
Madras HC Orders Reconsideration of 3-Year-Old Customs Duty Drawback Recovery Case
The Madras High Court recently ruled on a customs duty drawback recovery case, quashing the original order and ordering reconsideration. The case highlights the importance of timely action, proper notification procedures, and fair hearings in customs proceedings. For businesses, this ruling serves as a reminder to maintain updated records and stay vigilant in responding to government notices.
Raymond Apparel Wins Big: Calcutta HC Upholds ₹7.98 Crore Customs Refund After Protest
Raymond Apparel’s victory in the Calcutta High Court, securing a ₹7.98 crore customs refund, highlights the importance of contesting unfair duties and filing payments under protest. This ruling has broader implications for businesses and offers critical lessons for navigating the complex world of customs disputes.
CMA Association Slams Income Tax Act Changes—New Definition of ‘Accountant’ Excludes Key Professionals
The recent changes in the Income Tax Act of 2025, which exclude Cost and Management Accountants (CMAs) from conducting tax audits, have sparked controversy in the accounting community. The Institute of Cost Accountants of India (ICMAI) is lobbying for a revision to the law, advocating for CMAs' inclusion in the definition of "accountant." This issue could impact the role of CMAs and the future of tax auditing in India.
