Dear Readers, During the month of May 2026 the ceasefire of the Iran War brought remained volatile and tenuous, leading to a sharp depreciation of the Indian Rupee and increase in oil prices. The IPL season 2026 came to an end during the month with RCB and GT in the final match of the T20 tournament. The IPL has […]
A consortium led by steel magnate Lakshmi Mittal and vaccine entrepreneur Adar Poonawalla has agreed to acquire a controlling stake in IPL franchise Rajasthan Royals in a transaction valuing the franchise at approximately $1.65 billion (Around INR 15,673 crores). Under the proposed deal, the Mittal family will hold around 75% ownership, while Poonawalla will own approximately 18%, with existing investors […]
The UK economy continued to demonstrate resilience throughout May, although several indicators suggested that businesses and consumers remain cautious about the months ahead. Inflation continued its gradual decline, economic growth remained positive and employment conditions were broadly stable. However, concerns surrounding energy prices, geopolitical uncertainty and investment activity became increasingly prominent as the month progressed. Alongside economic developments, the accounting […]
MCA MCA Clarification issue related to Transfer of Membership Interest in Company Without Capital MCA has clarified vide its communication dated 08.05.2026 that transfer of membership interest in a company not having share capital (including companies limited by guarantee) must be effected through a duly executed instrument of transfer under Section 56 of the Companies Act, 2013. Further, […]
7th June Due date of Deposit of TDS/ TCS for the Month of May, 2026 7th June Declaration under section 394(2) of the Income-tax Act 2025 to be made by a buyer for obtaining goods without collection of tax in the month of May, 2026 14th June Certificate under section 395(4) of the Income-tax Act 2025 for tax deducted at […]
Important Judicial Precedents Addition u/s 69 based solely on sec. 132(4) statement without corroborative evidence was liable to be deleted: HC [2026] 186 taxmann.com 143 (Madras-HC) PCIT v. M. Kiran Kumar Where addition of undisclosed income was made solely on basis of statement recorded under section 132(4) without any corroborative evidence and statement did not relate to assessee in his […]
Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) June 10, 2026 GSTR-8 (Tax Collected at Source ‘TCS’) June 10, 2026 GSTR-1 June 11, 2026 IFF- Invoice furnishing facility (Availing QRMP) June 13, 2026 GSTR-6 Input Service Distributor June 13, 2026 GSTR-2B (Auto Generated Statement) June 14, 2026 GSTR-3B June 20, 2026 GSTR-5 (Non-Resident Taxable Person) June 20, […]
The International Financial Services Centres Authority (IFSCA) hosted the two-day IFSCA Corporate Treasury Conference 2026 at GIFT City, bringing together more than 250 treasury professionals, bankers, fintech leaders, and corporate executives from India and overseas to discuss the future of global treasury operations. Addressing the conference, IFSCA Chairperson K. Rajaraman highlighted GIFT IFSC’s transformation from an initiative aimed at “onshoring […]
Introduction If you’re forming a business, some legal papers are essential to the company’s formation. Out of these, Memorandum of Association (MOA) is of the utmost importance. It is the company’s own constitution, establishing the guidelines that the company will be required to adhere to. It is not possible to incorporate a company without a proper draft of this document […]
You are conducting cross-border transactions, paying full GST, full corporate tax and yet falling short on pricing due to your competitors who operate out of Singapore and Dubai. Indian CFOs are always under the pressure of improving their competitiveness in the global market despite the increase in compliance cost and taxes. But what if you had a legally recognized way […]