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June 11, 2026

UK Economic & Accounting Insight May 2026

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 […]

United Kingdom
June 11, 2026

Key Regulatory & Legal Updates in May 2026

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, […]

Corporate & Legal
June 11, 2026

June 2026 – Tax Calendar

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 […]

Taxation & Compliance
June 11, 2026

RNM Tax Alert – Direct Tax Part for May 2026

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 […]

Direct Tax
June 11, 2026

GST Calendar –Compliances for the month of May ’2026

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, […]

INDIRECT TAX
June 11, 2026

IFSCA Positions GIFT City as Emerging Global Treasury Hub at Corporate Treasury Conference 2026

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 […]

Gift City
May 9, 2026

Editorial April 2026

Dear Readers,   During the month of April 2026 the ceasefire of the Iran War brought a much needed peace in the region, helping stabilize economic activity and settle fears of rapid inflation globally and in India. Mr. Raghu Marwah, CEO visited Mumbai during the month to develop investment banking in commodity trade to assist in securing energy supplies to […]

General
May 9, 2026

UK Monthly Economic Insight – May 2026

Overview   Economic conditions in 2026 are characterised by low growth, persistent inflationary pressure, and elevated external risk. The UK economy continues to expand, but at a limited pace, with forecasts for annual GDP growth revised down to between 0.6% and 0.8%. This reflects the impact of higher energy prices, weaker global demand, and ongoing geopolitical disruption.   Inflation remains […]

United Kingdom

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