All Posts

CBDT’s July 2026 amendment to Rule 157 expands and clarifies the “specified fund” definition used for PAN exemptions available to qualifying non-resident investors. Here is what Category I/II AIFs, IFSC funds, fund managers, custodians and tax teams should change in their onboarding and quarterly reporting controls.

NCLAT’s July 2026 ruling in South Indian Bank v. Brijesh Singh Bhadauriya clarifies that a financier discounting MSME invoices on TReDS does not automatically become a financial creditor under the IBC. The classification turns on the underlying transaction, disbursement and timely filing of the claim in the correct category.

MCA’s 2026 director-KYC reform replaces annual DIR-3 KYC compliance with a three-year cycle, consolidates KYC, contact-detail updates and DIN reactivation into the revised framework, and changes how boards and compliance teams should monitor director data.

A professional analysis of the Supreme Court’s July 2026 decision in Sanjeev Kumar Jain v. ARCIL on revival of Section 7 proceedings, failed settlements, debt/default, and the correct use of Section 12A after CIRP admission.

The Income-tax Rules, 2026 have recast the familiar 15CA/15CB foreign-remittance workflow as Forms 145 and 146, with new section references, TIN/UDIN controls, authorised-dealer data fields and stronger cross-verification. Here is what finance teams, CAs and remitters should change now.

NCLAT’s July 2026 ruling in Shree Dhanvantari Pharmaceuticals shows why a Section 7 IBC petition can fail despite an acknowledged debt: authority may be valid, an informal advance may still qualify as debt, but an unsupported default date can make the claim time-barred.

A July 2026 Gujarat High Court ruling offers an important reminder for tax professionals handling legacy capital-gains disputes: a later amendment cannot be used to retrospectively widen the Assessing Officer’s valuation powers unless Parliament has clearly made that amendment retrospective. In Late Padmaben Zinabhai Trivedi v. Income Tax Officer, R/Special Civil Application No. 19363 of 2017, decided on 8 July 2026, the Gujarat High Court quashed a reassessment notice for As

MCA’s 2026 amendment to the Companies (Registered Valuers and Valuation) Rules introduces a ₹25 lakh minimum paid-up capital requirement for Registered Valuer Organisations. Here is what Rule 12 now requires, who must comply, the 31 March 2028 transition deadline, and why this matters for valuation governance under the Companies Act and IBC.

NCLT Delhi’s July 2026 rejection of Elite Design’s Section 9 petition against Colorbar Cosmetics is a practical reminder that operational insolvency cannot be used to short-circuit a genuine pre-existing dispute. This article examines the facts, statutory framework and litigation controls professionals should apply before invoking the IBC.

The Corporate Laws (Amendment) Bill, 2026 proposes material changes to buy-backs, fast-track mergers, corporate compliance and regulatory enforcement. Here is what boards, CFOs, company secretaries and advisers should monitor while the Bill remains pending before Parliament.

Co-operative societies frequently park funds in fixed deposits and other bank instruments for liquidity, statutory reserves and treasury management. The tax treatment of the resulting interest remains contentious because Section 80P of the Income-tax Act, 1961 distinguishes between profits attributable to the business of providing credit facilities to members and income from investments. The Karnataka High Court’s decision in Bangalore Credit Co-operative Society Limited v. I

India’s move to the Income Tax Act, 2025 creates a transitional year in which professionals may need to operate under two statutory frameworks at once. Here is the practical distinction between AY 2026-27 under the 1961 Act and Tax Year 2026-27 under the 2025 Act, with filing, scrutiny, loss carry-forward and updated-return implications.

India’s insolvency valuation framework has become materially more prescriptive in 2026. Two IBBI circulars issued on 1 April 2026 and 15 June 2026 now work together to create a tighter professional architecture for valuation under the Insolvency and Bankruptcy Code, 2016. The first makes the International Valuation Standards (IVS), as issued and updated by the International Valuation Standards Council, the applicable valuation standards for valuations conducted under the Code

MCA’s 2026 amendments now permit a limited portion of corporate CSR expenditure to be deployed by subscribing to Zero Coupon Zero Principal instruments issued by eligible NPOs on the Social Stock Exchange. Here is the legal framework, 10% cap, governance implications and due-diligence checklist for companies and advisors.

In Pooja Ramesh Singh v. Jammu and Kashmir Bank Ltd. (2026 INSC 668), the Supreme Court set aside NCLT and NCLAT orders after fake and AI-hallucinated precedents entered the adjudicatory process. The ruling creates immediate verification and governance obligations for insolvency professionals, advocates, lenders and corporate legal teams.

CBDT’s July 2026 amendment introduces Form ITR-BN and an Appendix IV framework for returns connected with search and requisition cases under the Income-tax Rules, 2026. Here is the professional impact on data collation, disclosure discipline, documentation and litigation readiness.

A recent Delhi High Court decision in Nishit Badola v. Union of India, pronounced on 20 July 2026, is a useful study in how company master data, insolvency proceedings, writ jurisdiction and investigation powers under the Companies Act, 2013 can intersect in a complex corporate dispute. The case arose from the affairs of Three C Shelters Pvt. Ltd. and involved questions surrounding the company’s director information on the Ministry of Corporate Affairs portal, the status of i

India has a new Income Tax Act. Effective April 1, 2026, the Income Tax Act 2025 replaced the 65-year-old Act of 1961. Here is what changed, what the August 2026 deadlines look like under the new law, and what you need to do before the month ends.

Protecting a brand is essential for any business aiming to establish a unique identity in the market. A trademark serves as a powerful tool to safeguard that identity. However, the process of trademark registration can be complex and requires expert guidance. I will explain the importance of trademarks, the registration process, and why PGT and Associates stands out as the best choice to handle trademark registration. What Is a Trademark and Why Is It Important? A trademark i

August is a good month for Ahmedabad businesses to tighten GST compliance before the heavier tax-audit and return-filing season begins. For taxpayers under the QRMP scheme, the Invoice Furnishing Facility (IFF) for the first and second month of a quarter has a due date of the 13th of the succeeding month. The GST portal confirms that IFF is optional, but once used it helps eligible B2B invoices flow to recipients for credit visibility. Why GST reconciliation should happen mon