All Posts

CBDT Notification No. 75/2026 creates a specific non-deduction framework for ship lease rent and supplemental lease rent paid to eligible International Financial Services Centre (IFSC) units under the Income-tax Act, 2025. For shipping groups, treasury teams, tax functions, lessors and lenders, the important point is that the relief is not automatic merely because the lessor operates from an IFSC. The notification creates a documentation-led compliance mechanism in which the

The Insolvency and Bankruptcy Code (Amendment) Act, 2026 is not a cosmetic clean-up of the IBC. Several provisions brought into force from 26 May 2026 materially tighten the way financial-creditor applications are admitted, narrow the window for post-admission settlements, strengthen the evidentiary value of Information Utility records and impose clearer timelines on the Adjudicating Authority. For lenders, corporate debtors, resolution professionals, boards and restructuring

CBDT Notification No. 89/2026, dated 17 July 2026, is a compact notification with unusually large financing implications. Exercising powers under section 2(112) of the Income-tax Act, 2025 read with rule 7 of the Income-tax Rules, 2026, the Central Government has specified a ten-year zero coupon bond of the National Bank for Financing Infrastructure and Development (NaBFID) as a recognised zero coupon bond for tax purposes. For tax teams, treasury functions, banks, institutio

NCLAT’s July 2026 ruling in UCO Bank v. Subrata Das clarifies that a financial creditor can invoke Section 95 of the IBC directly against a personal guarantor even where no CIRP or liquidation is pending against the corporate debtor. This article explains the jurisdictional issue, guarantee law and practical implications for lenders, guarantors and restructuring teams.

CBDT Notification No. 80/2026 creates a targeted no-TDS framework for specified payments to eligible IFSC units under the Income-tax Act, 2025. This article explains the covered entities and receipts, the 20-year election, Form 1(N), payer reporting duties and the controls finance teams should implement.

A practical analysis of Pawan Kumar Jain v. Union of India (Delhi High Court, 29 April 2026), where a mismatch in the CIN appearing in the Gazette notification proved fatal to the company strike-off. The ruling has important implications for ROC process, restoration strategy, Section 252 remedies and due diligence on legacy struck-off companies.

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.