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Income Tax

Decoding Section 9 of the Income-tax Act, 2025 for Deemed Incomes

This overview explains Section 9 of the Income-tax Act, 2025 regarding deemed accrual of income in India. It covers business connections, significant economic presence, indirect transfers, royalties, fees for technical services, treaties, and tax deduction at source.

Effective Not specified in the update

For professionals: Practitioners must review existing cross-border agreements, evaluate withholding tax exposures, and ensure strict compliance with deduction mechanisms under the updated statutory framework. · Tax professionals should monitor upcoming official clarifications and maintain robust documentation for all foreign vendor payments.

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Taxguru7m ago 1 min
Income Tax

Analyzing the Supreme Court Vodafone Ruling and Indirect Transfer Taxes

This piece reviews the Supreme Court judgment on the Vodafone case, retrospective tax amendments, and Section 9(10). It breaks down indirect transfer thresholds, available exemptions, and Form 163 compliance requirements.

Effective Not specified in the update

For professionals: Audit historical offshore transactions to ensure compliance with indirect transfer rules. · Assess ongoing dispute litigation status and properly file designated forms where applicable. · Track evolving judicial interpretations regarding asset valuation thresholds and exemption criteria.

Scrips: Vodafone Idea

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Taxguru8m ago 1 min
Economy

Kochi hosts international ocean symposium with delegates from thirty nations

Delegates from thirty nations gather in Kochi for a three-day international symposium. Hosted at the ICAR-Central Marine Fisheries Research Institute, the event runs from Wednesday to Friday and focuses on marine resources, fisheries, and climate resilience.

Effective Not specified in the update

For professionals: Global experts from thirty nations are gathering at the ICAR-Central Marine Fisheries Research Institute in Kochi for a three-day symposium running from Wednesday to Friday. · Researchers and environmental professionals should monitor event outcomes for policy recommendations and collaborative research frameworks.

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Hindu BusinessLine8m ago 1 min
GST

Artificial intelligence platform uncovers massive multi-crore goods and services tax fraud network

An artificial intelligence platform has uncovered an alleged tax fraud network valued at ₹5,700 crore. The operation involves 1,500 shell companies operating across India, according to the latest platform detection reports.

Effective Not specified in the update

For professionals: Tax practitioners and corporate compliance officers must maintain rigorous vendor verification protocols to protect clients from exposure · Ensure all input credit claims are backed by genuine documentation as enforcement authorities review data generated by the artificial intelligence system · Strict adherence to compliance standards is essential given heightened scrutiny on anomalous tax credit patterns and regulatory reliance on advanced data analytics

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Livemint9m ago 1 min
Markets

Muthoot Gold Loan Book Faces Asset Stress and Intense Competition

Muthoot experiences asset quality stress within its gold loan assets despite a solid portfolio. Management clarifies that recent migrations into stage-II and stage-III buckets do not signify underlying borrower distress.

Effective Not specified in the update

For professionals: Professionals must closely monitor upcoming quarterly asset classification metrics and management commentary for portfolio health trends. · Practitioners should advise specialized lenders to track portfolio bucket shifts, evaluate competing market offerings, and maintain adequate provisioning buffers. · CAs and financial advisors need to note that asset classification buckets act as early warning indicators under modern provisioning norms.

Scrips: Muthoot Finance

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LiveMint Markets9m ago 1 min
Income Tax

Supreme Court Directives on Tax Deductions for Foreign Software Payments

The Supreme Court clarifies tax deduction requirements on foreign software licence remittances. The guidance covers royalty classifications under double tax avoidance agreements, Section 393, Forms 145 and 146, and compliance steps.

Effective Not specified in the update

For professionals: Examine software purchase contracts to determine if payments constitute royalties or business income following engineering analysis. Verify double tax avoidance agreement eligibility and file required statutory forms including Forms 145 and 146 for foreign remittances. Keep track of evolving judicial precedents concerning software classification to prevent short-deduction liabilities and withholding tax disputes.

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Taxguru9m ago 1 min
RBI/SEBI Govt Breaking

Navigating FEMA Rules for Export Proceed Realisation and Delayed Receipts

This guide details foreign exchange management regulations concerning export proceeds. It covers reserve bank realisation timelines, electronic data processing monitoring systems, extension permissions, write-offs, set-offs, and handling delayed receivables.

Effective Not specified in the update

For professionals: Exporters must track realization schedules closely and submit necessary extension applications before deadlines expire. · Maintain complete documentation for any permissible write-offs or set-offs under regulatory supervision. · Ensure strict adherence to FEMA realization timelines to protect clients from compounding contravention penalties and export licensing issues.

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Taxguru10m ago 1 min
Banking Govt

Examining Legal Challenges in Striking Off Companies Without Paid Capital

This analysis investigates whether a company can be removed from the register without paid share subscription or an active bank account. It highlights Sections 10A and 248, registrar powers, Form STK-2, and subscriber liabilities.

Effective Not specified in the update

For professionals: Compliance professionals must verify preliminary capital declarations, bank account closures, and Form STK-2 submissions meet regulatory standards before filing for removal. · Practitioners should watch for registrar clarifications regarding default compounding.

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Taxguru10m ago 1 min
Economy

Defence Ministry Finalizes Warship Deals Worth Over Fifty Thousand Crores

The ministry signs contracts valued at 53,866 crore rupees to construct eight warships for the Indian Navy. This initiative advances indigenous defence manufacturing, with naval design teams and two public sector shipyards executing the project.

Effective Not specified in the update

For professionals: Defense contractors and suppliers must align production capacities, monitor milestone delivery schedules, and manage working capital requirements for major long-term public orders. · Stakeholders should track shipyard execution progress and subsequent naval acquisition announcements.

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Hindu BusinessLine13m ago 1 min
Investment

Key metrics to check before starting your systematic investment plan in mutual funds

Assess risk ratings, historical performance records, and expense ratios prior to committing capital into systematic investment plans. Utilize online planning tools to map out regular contributions effectively while aligning choices with personal financial goals.

Effective Not specified in the update

For professionals: Evaluate critical metrics including risk ratings, past performance numbers, and expense ratios before committing funds for clients. · Review fund documentation, use digital calculation tools for forecasting, and consult financial advisors for tailored portfolio strategies. · Monitor upcoming portfolio reviews and expense ratio disclosures to maintain an optimized investment portfolio.

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Taxguru16m ago 1 min
Income Tax

Understanding Internet Computer protocol features, custody challenges, and virtual digital asset taxation rules

Explore the mechanics of canisters, subnets, network governance, and cycles within the Internet Computer ecosystem alongside associated custody risks. Understand how Indian virtual digital asset tax and tax deducted at source regulations apply to these digital holdings.

Effective Not specified in the update

For professionals: Indian tax regulations classify virtual digital assets under specific statutory provisions, imposing tax and tax deducted at source obligations on applicable transactions. · Tax practitioners and investors must maintain accurate transaction records, review compliance guidelines, and assess custody security arrangements for digital asset holdings.

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Taxguru16m ago 1 min
GST Breaking

October Goods and Services Tax Collections Jump 23 Percent to Record High

Goods and services tax collections register a 23 percent growth, reaching 2.31 lakh crore rupees in October. This substantial increase highlights robust economic momentum and improved tax compliance across the country.

Effective October

For professionals: Tax professionals and corporate compliance teams must reconcile input tax credit claims accurately to support seamless revenue collections. · Professionals should ensure timely filings for their clients.

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The Indian Awaaz16m ago 1 min

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