LLP Compliance Calender May 2026: Introduction When it comes to Limited Liability Partnership, the LLP compliance calendar management is necessary to prevent penalties and not lose legal status. Despite May not being a heavy filing month as per the LLP Act, May is crucial to continuing tax compliance, keeping track of due dates, and planning…
US SEC whistleblower Reward Payment Taxable under Income Tax: ITAT The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) on 14 May 2026 held that a whistleblower reward received by an Indian resident from the United States Securities and Exchange Commission (US SEC) for exposing corporate bribery and corruption is taxable in India under…
ESOP Taxation in India: A Complete Guide for Employees In the corporate world, you might have heard of ESOPs – Employee Stock Options, or you would have got the ESOPs from your company, but if you are planning to sell it & don’t know the tax consequences on sale, then this article is for you….
The Allahabad High Court has issued a GST notice in response to a legal case questioning whether some rules in the Central Goods and Services Tax (CGST) Act, 2017, are fair. These rules limit the ability of businesses to claim tax credits if their suppliers fail to meet certain requirements. A Division Bench, including Justice…
GST: Jharkhand High Court Rejects Anticipatory Bail In Rs.29.11 Lakh Fake ITC Fraud Case The High Court of Jharkhand on 11 May refused to grant anticipatory bail to an accused allegedly involved in wrongful availment of Input Tax Credit (ITC) through fake business entities under the GST regime. A Bench of Justice Sanjay Kumar Dwivedi…
Punjab & Haryana High Court Grants Bail To CA Assistant In CGST Fraud Case The Punjab & Haryana High Court on 11 May granted regular bail to a chartered accountant’s assistant accused in a GST fraud case registered under Section 132 of the Central Goods and Services Tax Act, 2017. A Bench of Justice H.S….
Company compliance is one of the major responsibilities for every company to avoid penalties and maintain smooth business operations. At the beginning of May 2026, companies must keep track of important requirements such as board meetings, ROC filings, annual compliance preparation, and event-based filings. A well-organized compliance schedule is necessary for implementation. Missing deadlines…
Tamil Nadu AAAR Remands GST Matter for Fresh Fact Verification The Tamil Nadu State Appellate Authority for Advance Ruling (AAAR), in the case of M/s. Karthik & Co. (Order-in-Appeal No. AAAR/05/2026 (AR)), on 24 April 2026 remanded the matter back to the original Authority for Advance Ruling after observing substantial divergence between the facts presented…
The High Court in Janardan Panda v. Commissioner, Commercial Tax & GST, Odisha and Others held that GST adjudication orders passed without considering the taxpayer’s reply or recording reasons suffer from non-application of mind and are liable to be quashed. A Division Bench comprising Chief Justice Harish Tandon and Justice Murahari Sri Raman set aside…
ITAT Restores Matter After AO Failed to Verify Property Transaction Nature The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) remanded a matter involving long-term capital gains (LTCG) addition after finding inconsistencies in the nature of immovable property transactions and lack of proper factual verification by the Assessing Officer (AO). A Bench comprising Judicial…
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