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Flash News

GSTN Advisory No. 666: The FY 2025-26 AATO Amendment Window Closes July 31, 2026 (and GST Turnover Now Auto-Updates)

Foreign Assets Now Appear in Your AIS: How to Reconcile AEOI Data and Schedule FA Before Filing AY 2026-27 (CBDT Order Dated 8 July 2026)

CCFS-2026 Extended to August 31, 2026: How Companies Can Still Clear Pending ROC Filings at 10% Additional Fees (MCA General Circular 03/2026)

Cost Inflation Index FY 2026-27 Notified at 384: How CBDT Notification S.O. 3889(E) Changes Your Capital Gains Tax

AS 22 Amendment 2026: No Deferred Tax on OECD Pillar Two Global Minimum Tax, New Disclosures for Indian Companies

No TDS on Aircraft and Ship Lease Rent Paid to IFSC Units: CBDT Notification 74/2026 and 75/2026

RBI’s New ECB Rules 2026: How Much Foreign Debt Your Company Can Raise Under the USD 1 Billion and 300% Net Worth Ceiling

New TDS and TCS Return Forms From FY 2026-27: Form 24Q Is Now Form 138 and Your Q1 Return Is Due July 31, 2026

FEMA Export Realisation Period 2026: Why Your Deadline Is 9 Months Now and 15 Months From October 1, 2026

CBDT Circular 06/2026: Condonation of Delay in Filing Form 10AB for Section 80G Renewal (Applications Filed October 2025 to March 2026)

Tuesday, July 21, 2026

Tag: IBC

Taxation of Loan Waivers after amendment to Section 28(iv)
Case Law Corporate Law IBC Income Tax

Taxation of Loan Waivers after amendment to Section 28(iv)

CA Adityavikram Banka February 6, 2024

Tax Implications on Loan Waivers after amendment to Section 28(iv) Under resolution plan approved by NCLT, would generally involve waiver of loans and other liabilities of corporate debtor, which is subject to … Read More

Case LawIBCIncome TaxInsolvency and Bankruptcy CodeLoan Waivers
Tax Implication on Capital Reduction under IBC
Case Law Corporate Law IBC Income Tax

Tax Implication on Capital Reduction under IBC

CA Adityavikram Banka February 6, 2024

Tax Implication on Capital Reduction under IBC Capital reduction refers to the technique of reducing a company’s share capital in any form. It is a mechanism usually adopted by companies … Read More

Capital ReductionCase LawIBCIncome TaxInsolvency and Bankruptcy Code

Recent Posts

  • GSTN Advisory No. 666: The FY 2025-26 AATO Amendment Window Closes July 31, 2026 (and GST Turnover Now Auto-Updates)
  • Foreign Assets Now Appear in Your AIS: How to Reconcile AEOI Data and Schedule FA Before Filing AY 2026-27 (CBDT Order Dated 8 July 2026)
  • CCFS-2026 Extended to August 31, 2026: How Companies Can Still Clear Pending ROC Filings at 10% Additional Fees (MCA General Circular 03/2026)
  • Cost Inflation Index FY 2026-27 Notified at 384: How CBDT Notification S.O. 3889(E) Changes Your Capital Gains Tax
  • AS 22 Amendment 2026: No Deferred Tax on OECD Pillar Two Global Minimum Tax, New Disclosures for Indian Companies

INCOME TAX

  • Foreign Assets Now Appear in Your AIS: How to Reconcile AEOI Data and Schedule FA Before Filing AY 2026-27 (CBDT Order Dated 8 July 2026)
  • Cost Inflation Index FY 2026-27 Notified at 384: How CBDT Notification S.O. 3889(E) Changes Your Capital Gains Tax
  • No TDS on Aircraft and Ship Lease Rent Paid to IFSC Units: CBDT Notification 74/2026 and 75/2026
  • New TDS and TCS Return Forms From FY 2026-27: Form 24Q Is Now Form 138 and Your Q1 Return Is Due July 31, 2026
  • CBDT Circular 06/2026: Condonation of Delay in Filing Form 10AB for Section 80G Renewal (Applications Filed October 2025 to March 2026)

Corporate Law

  • CCFS-2026 Extended to August 31, 2026: How Companies Can Still Clear Pending ROC Filings at 10% Additional Fees (MCA General Circular 03/2026)
  • AS 22 Amendment 2026: No Deferred Tax on OECD Pillar Two Global Minimum Tax, New Disclosures for Indian Companies
  • RBI’s New ECB Rules 2026: How Much Foreign Debt Your Company Can Raise Under the USD 1 Billion and 300% Net Worth Ceiling
  • FEMA Export Realisation Period 2026: Why Your Deadline Is 9 Months Now and 15 Months From October 1, 2026
  • RBI TReDS Directions 2026: What the New Trade Receivables Discounting Rules Mean for MSME Working Capital

CASE LAW

  • Sec 54 – Date of possession of new property is to be considered in the case of constructed property: ITAT Mumbai
  • Transit rent paid by the developer is not a revenue receipt and so not taxable: Bombay HC
  • Legal precedents on Ad- Hoc Disallowances
  • Additions cannot be made based on profit assumptions: Punjab & Haryana HC
  • Excessive or unreasonable salary, is a sine qua non in invoking the provision of Sec 40A(2)(b): ITAT Ahmedabad

GOODS & SERVICE TAX (GST)

  • GSTN Advisory No. 666: The FY 2025-26 AATO Amendment Window Closes July 31, 2026 (and GST Turnover Now Auto-Updates)
  • CGST Circular 255/2026: Who Handles Your GST Case After You Change Jurisdiction
  • GSTR-3B Hard-Locking and IMS: Why GSTR-1 and the Invoice Management System Now Decide Your GST Liability
  • GSTN Defers Mandatory Ship-To GSTIN and E-Way Bill Voluntary Closure to August 1, 2026: What Changes and How to Prepare
  • GST Notification 01/2026-Central Tax (Rate) Effective May 1 2026: How the Finance Act 2026 Beverage Reclassification Moves HS 2202 Carbonated and Caffeinated Drinks to the 40 Per Cent Slab, the Schedule I and Schedule III Tariff Substitutions, the May 6 Corrigendum GSR 339(E), and the Practitioner Compliance Checklist

OTHER POSTS

  • GSTN Advisory No. 666: The FY 2025-26 AATO Amendment Window Closes July 31, 2026 (and GST Turnover Now Auto-Updates)
  • Foreign Assets Now Appear in Your AIS: How to Reconcile AEOI Data and Schedule FA Before Filing AY 2026-27 (CBDT Order Dated 8 July 2026)
  • CCFS-2026 Extended to August 31, 2026: How Companies Can Still Clear Pending ROC Filings at 10% Additional Fees (MCA General Circular 03/2026)
  • Cost Inflation Index FY 2026-27 Notified at 384: How CBDT Notification S.O. 3889(E) Changes Your Capital Gains Tax
  • AS 22 Amendment 2026: No Deferred Tax on OECD Pillar Two Global Minimum Tax, New Disclosures for Indian Companies

Annual Return AOC-4 April 2026 AY 2021-22 Budget Changes Case Law CBDT CBIC CCFS 2026 Circular Companies Act Companies Act 2013 Corporate Law DIN Dormant Company Due Date Extension FEMA Finance Act Foreign Exchange FY 2020-21 GST GST Council GSTR3B GST Return High Court Income-tax Act 2025 Income Tax Income Tax Act 2025 Income Tax Rules 2026 International Taxation ITAT LLP MCA MCA V3 Portal MGT-7 Notification NRI NRI Taxation RBI RCM Residential Status ROC Filing Strike Off TDS

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