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 […]
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, […]
7th May Due date of Deposit of TDS/ TCS for the Month of April, 2026 15th May Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB, 194-M & 194S in the month of March, 2026 15th May Quarterly statement of TCS deposited for the quarter ending March 31, 2026 30th May Issue of TCS certificates […]
NOTIFICATION G.S.R. 286(E) [NO. 64/2026/F. NO. 370142/41/2025-TPL], DATED 16-4-2026 The CBDT issues corrigendum to IT Rules 2026; drops mention of ‘Aadhaar’ instead of ‘PAN’ in several Income Tax forms. NOTIFICATION S.O. 1715(E) [NO. 56/2026/F. NO. 500/22/2022-FT&TR-V], DATED 2-4-2026 India–Japan MoU notified for mutual assistance in tax collection effective from 8 July 2025. Important Judicial Precedents SLP disposed of: section 263 […]
Sun Pharmaceutical Industries has announced the acquisition of Organon & Co in an all-cash deal valued at approximately $11.75 billion (Around INR 1,10,620 crores), including debt, marking the largest overseas acquisition by an Indian pharma company. The transaction aligns with Sun Pharma’s strategic shift toward higher-margin specialty segments such as dermatology, oncology, and obesity, amid margin pressures in the US […]
Indirect Tax News Letter Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) May 10, 2026 GSTR-8 (Tax Collected at Source ‘TCS’) May 10, 2026 GSTR-1 May 11, 2026 IFF- Invoice furnishing facility (Availing QRMP) May 13, 2026 GSTR-6 Input […]
April 2026 – Tax Calendar 7th April Due date of Deposit of TCS collected for the Month of March , 2026 7th April Uploading of declarations received in Form 27C from the buyer in the month of March, 2026 14th April Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB, 194-M & 194S in the month […]