# Tax Herald

> Latest Tax and Corporate laws news and updates

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## Posts

- [Specimen Charitable Trust Deed for Education and Healthcare Objects](https://taxherald.com/specimen-charitable-trust-deed-for-education-and-healthcare-objects-2/): This article provides a specimen format of a Charitable Trust Deed focused on education and healthcare objectives. It outlines the essential clauses, legal language, and structural components required to establish a valid and compliant charitable trust in India.
- [Companies Compliance Facilitation Scheme 2026 extended till 15th September](https://taxherald.com/companies-compliance-facilitation-scheme-2026-extended-till-15th-september/): The Ministry of Corporate Affairs has extended the Companies Compliance Facilitation Scheme till 15th September 2026. Due to representation from various stakeholders, the Government has decided to extend the time limit. All the companies are encouraged to take note of this extension and file all pending returns by the extended date. Earlier the Government had
- [ITAT quashes CIT (Appeals) order on suo motu enhancement of  the additions citing non-issue of Show Cause Notice under Sec.251(2) procedure.](https://taxherald.com/itat-quashes-cit-appeals-order-on-suemotu-enhancement-of-the-additions-citing-non-issue-of-show-cause-notice-under-sec-2512-procedure/): ITAT Agra has held that the CIT(A) cannot enhance income without issuing a prior show-cause notice to the assessee. In the case of Simrah Builders (AY 2018–19), the Tribunal quashed the ₹54.50 lakh enhancement as it violated Section 251(2) and principles of natural justice. The assessee’s appeal was allowed purely on this legal ground.
- [Director’s KYC filing extended till 31st October without late filing fee of Rs.5000](https://taxherald.com/directors-kyc-filing-extended-till-31st-october-without-late-filing-fee-of-rs-5000/): MCA has extended the due date for filing DIR-3 KYC and DIR-3 KYC Web to 31 October 2025 (Circular No. 05/2025). All directors must complete their annual KYC to keep their DIN active and compliant. Failure to file within the extended timeline will lead to DIN deactivation and a penalty of ₹5,000.
- [Central  Goods and Service Tax 2017: Levy and Collection of Tax Under GST (Section 9 )](https://taxherald.com/central-goods-and-service-tax-2017-levy-and-collection-of-tax-under-gst-section-9/): Section 9 of the CGST Act explains the levy of GST on intra-State supplies and prescribes rates based on GST Council recommendations. It excludes alcoholic liquor and certain ENA products from the GST scope. The section also provides for the Reverse Charge Mechanism.
- [Indian Contract Act 1872 : Understanding Contingent and Quasi Contracts](https://taxherald.com/indian-contract-act-1872-understanding-contigent-and-quasi-contracts/): Understanding Contingent Contracts under Section 31 of the Indian Contract Act, 1872, where obligations depend on uncertain future events. Learn when such contracts become enforceable or void based on specific conditions, and Quasi Contracts, where legal duties arise without a formal agreement. These are enforced by law to ensure fairness and prevent unjust enrichment.
- [Indian Contract Act 1872: Performance of Contract](https://taxherald.com/indian-contract-act-1872-performance-of-contract/): Performance of a contract is a fundamental aspect of the Indian Contract Act, 1872. It outlines the obligations of parties, essentials of a valid tender, and rights and liabilities of joint promisors. Sections 37 to 61 detail how actual and attempted performance work, the conditions for valid tender, and how payments can be appropriated when multiple debts exist. A clear understanding of these provisions helps businesses and individuals ensure compliance and avoid disputes.
- [Extension of due of ITR filing for Non-Audit Cases from 15th September to 16th September 2025.](https://taxherald.com/extension-of-due-of-itr-filing-for-non-audit-cases-from-15-th-septmeber-to-16-th-september-2025/): The CBDT has extended the due date for filing ITRs for AY 2025-26 (FY 2024-25). The deadline, first moved from 31st July to 15th September 2025, is now further extended to 16th September 2025. This relief is applicable to non-audit cases such as salaried individuals and businesses/LLPs not requiring a tax audit. Taxpayers are advised to file within the extended timeline to avoid last-minute hassles.
- [CBDT extends the due date for filing various income tax audit reports for financial year 2024-25 to 31st October 2025](https://taxherald.com/cbdt-extends-the-due-date-for-filing-various-income-tax-audit-reports-for-financial-year-2024-25-to-31st-october-2025/): The Central Board of Direct Taxes (CBDT) has extended the due date for furnishing various audit reports for Financial Year 2024-25. The deadline has been pushed from 30th September 2025 to 31st October 2025 for assessees covered under Explanation 2(a) of Section 139(1) of the Income-tax Act.
- [CBDT extends due date for furnishing return of income for the financial  year 2024-25](https://taxherald.com/cbdt-extends-due-date-for-furnishing-return-of-income-for-the-assessment-year-2025-26/): CBDT has extended the Tax Audit Report due date for FY 2024–25 to 31st October 2025. This applies to assessees under Section 139(1) read with Section 44AB. A formal notification will follow soon as per the CBDT press release.
- [Indian Contract Act 1872 : Legal position of Agreement with Minor](https://taxherald.com/indian-contract-act-1872-legal-position-of-agreement-with-minor/): An agreement with a minor is void ab initio under Indian Contract Law. This article discusses the legal position of minors in contracts, key case laws like Mohori Bibi v. Dharmodas Ghose, and exceptions where a minor can benefit, but not be held liable under a contract.
- [Indian Contract Act 1872 : Section 2 (d) Consideration](https://taxherald.com/indian-contract-act-1872-section-2-d-consideration/): Consideration is the foundation of every valid contract. Section 2(d) of the Indian Contract Act defines consideration and its essential elements. This article explores past, present, and future consideration, lawful consideration, and exceptions where an agreement is valid even without consideration.
- [Indian Contract Act 1872 : Section 3 Offer](https://taxherald.com/indian-contract-act-1872-section-3-offer/): Section 3 of the Indian Contract Act deals with the communication of proposals and acceptances. This article explains the meaning of an offer, methods of communication, and how an offer becomes valid under law. It also outlines the importance of intention and legal enforceability.
- [Indian Contract Act 1872 : Section (12)-Person of Unsound mind](https://taxherald.com/indian-contract-act-1872-section-12-person-of-unsound-mind/): Section 12 of the Indian Contract Act defines a person of sound mind as someone capable of understanding a contract and forming rational judgment. This article explains how unsoundness affects contractual capacity, the concept of lucid intervals, and the burden of proof when mental capacity is questioned.
- [Indian Contract Act 1872 : Persons not Competent to Contract under Law](https://taxherald.com/indian-contract-act-1872-persons-not-competent-to-contract-under-law/): Under Section 11 of the Indian Contract Act, certain persons are deemed incompetent to contract, including minors, individuals of unsound mind, and others disqualified by law. This article delves into the legal framework, consequences of such contracts, and relevant case laws.
- [Indian  Contract  Act 1872: Understanding Consent and essential conditions for Free Consent](https://taxherald.com/indian-contract-act-1872-understanding-consent-and-essential-conditions-for-free-consent/): Consent is the cornerstone of any valid agreement. This article explains the concept of free consent as defined under the Indian Contract Act, 1872, including its essential conditions and the impact of coercion, fraud, misrepresentation, undue influence, and mistake on contractual validity.
- [Indian Contract Act 1872 : Understanding Legality of object and Consideration & its legal implications](https://taxherald.com/indian-contract-act-1872-understanding-legality-of-object-and-consideration-its-legal-implications/): Understand when an agreement becomes unlawful under Section 23 of the Indian Contract Act. This article explores the meaning and implications of illegal objects and considerations, including cases of fraud, injury, immorality, and public policy violations. It also covers the validity of maintenance and champerty agreements, and what happens when a contract is partially unlawful. A must-read for students, professionals, and anyone dealing with legal contracts.
- [Indian Contract 1872 : Understanding Void Agreements](https://taxherald.com/indian-contract-1872-understanding-void-agreements/): Void agreements are those that are not legally enforceable and hold no binding value under the law. The Indian Contract Act, 1872 identifies specific types of agreements such as those in restraint of trade, marriage, or legal proceedings as void due to their nature or objective. This article provides a detailed overview of various void agreements, their legal consequences, and the key exceptions recognized under the Act.
- [Indian Contract Act 1872 : Understanding Acceptance, Communication of Acceptance and  Time Limit for Revocation](https://taxherald.com/indian-contract-act-1872-section-2b-acceptance/): Section 2(b) of the Indian Contract Act defines acceptance as the expression of assent to an offer. This article outlines the rules of valid acceptance, including communication, timing, and revocation. It also highlights the legal impact of acceptance in forming a binding contract.
- [Formation of Company under Companies Act 2013](https://taxherald.com/formation-of-company-under-companies-act-2013/): The Companies Act, 2013 lays down the legal framework for forming a company in India. This article covers the key steps involved in incorporation—from selecting the company type to filing the required documents with the ROC—ensuring legal compliance and smooth business establishment.
- [GST HSN Code Master for Services](https://taxherald.com/gst-hsn-code-master-for-services/): This article provides a comprehensive list of HSN (Harmonized System of Nomenclature) codes applicable to services under GST. It helps businesses and professionals accurately classify services for invoicing, compliance, and tax filing, as per the latest GST norms in India.
- [Indian Contract 1872 : Meaning of Contract](https://taxherald.com/indian-contract-1872-meaning-of-contract/): This article explains the fundamental meaning of a contract as per Section 2(h) of the Indian Contract Act, 1872. It highlights the key components that make an agreement legally enforceable and the basic distinction between an agreement and a contract under Indian law.
- [GST Appellete Authority Order : Goods supplied by the Recipient free of cost to to the Supplier to be included in the Taxable Value](https://taxherald.com/gst-appellete-authority-order/): This article discusses a recent ruling by the GST Appellate Authority, analyzing the facts of the case, legal interpretation, and the implications for taxpayers. It serves as a practical reference for understanding how GST disputes are resolved at the appellate level in India.
- [Sample Rental Agreement for Commercial Purposes](https://taxherald.com/rental-agreement-everything-you-need-to-know-about-rental-agreement/): This article provides a ready-to-use sample rent agreement tailored for residential purposes. It outlines essential terms like rent amount, duration, and responsibilities of both landlord and tenant ensuring legal clarity and peaceful occupancy.
- [Sample Resolution Format for Limited Liability Partnership (LLP) Registered office change](https://taxherald.com/sample-resolution-format-for-limited-liability-partnership-llpregistered-office-change/): Need to shift your LLP's registered office? This sample resolution format is designed as per the LLP Act, 2008, making your legal compliance process easier. Whether you're moving within the same state or to another, this guide ensures you draft the resolution correctly and efficiently.
- [Sample Rent Agreement for Residential Purposes](https://taxherald.com/sample-rent-agreement-for-residential-purposes/): RENT AGREEMENT THIS AGREEMENT IS MADE AND EXECUTED AT Tamil Nadu ON THIS 13/09/2022, BY AND BETWEEN:- ____________________________(Name) S/O _______________________________(Name) R/o_________________________________________________________________(Address) (Hereinafter called the First Party/ Owner) AND ____________________(Name)S/O________________________________________(Name) R/o__________________________________________________________________(Address) (Hereinafter called the Second Party/Tenant) The expression of both the parties shall mean and include their respective legal heirs, executors, administrators, representatives and legal assigns.
- [Government withdraws Income Tax Bill, 2025 from Lok Sabha, Set to introduce revised Income Tax Bill](https://taxherald.com/government-withdraws-income-tax-bill-2025-from-lok-sabha-set-to-introduce-revised-income-tax-bill/): The Central Government has withdrawn the Income Tax Bill, 2025, originally introduced in February this year, with plans to reintroduce a revised version on August 11 based on the recommendations of the Baijayant Panda-led Select Committee. Key proposed changes include extended TDS refund timelines and continued tax exemptions for anonymous donations to charitable trusts.
- [Indian Contract Act 1872 : Quasi Contracts- Necessaries, Payments, Non-Gratituous Act, Finder of Goods & Money by Mistake OR Coercion](https://taxherald.com/indian-contract-act-1872-quasi-contracts-necessaries-payments-non-gratuitous-act-finder-of-goods-money-by-mistake-or-coercion/): Quasi-contracts under the Indian Contract Act ensure fairness where no formal agreement exists. Sections 68–72 cover supply of necessaries to persons incompetent to contract, payment by interested persons, benefits of non-gratuitous acts, finder of goods, and recovery of money paid by mistake or coercion. These provisions protect parties from unjust enrichment and define rights and liabilities even without an express contract.
- [Government brings out notification for Amended GST rates decided in the 56th GST council meeting.](https://taxherald.com/government-brings-out-notification-for-amended-gst-rates-decided-in-the-56th-gst-council-meeting/): The Government has issued a fresh notification announcing amendments to GST rates. These changes are based on the decisions taken during the 56th GST Council Meeting. The revised structure is aimed at simplifying the tax system and improving compliance. Businesses and taxpayers are advised to carefully review the updated rates. Staying informed will help ensure smooth adherence to the latest GST rules.
- [Central Goods and Services Tax Act 2017: Short Title, Commencement And Key Definitions (Sections 1 & 2)](https://taxherald.com/central-goods-and-services-tax-act-2017-short-title-commencement-and-key-definitions-sections-1-2/): Section 1 of the CGST Act lays down the short title, extent, and commencement of the law.Section 2 defines the essential terms and concepts used throughout the Act.Together, they form the foundational framework for interpreting and applying the CGST Act.
- [Central Goods and Services Tax Act, 2017 – Officers under this Act (Section 3)](https://taxherald.com/auto-draft/): Section 3 of the CGST Act defines the classes of officers appointed for administering GST.It includes officers from the Central Board of Indirect Taxes and Customs and other designated posts.This section establishes the official hierarchy responsible for implementing GST provisions.
- [Central Goods and Services Tax Act, 2017 – Appointment, Powers, and Authorisation of Officers under GST  (Sections 4, 5 & 6)](https://taxherald.com/central-goods-and-services-tax-act-2017-appointment-powers-and-authorisation-of-officers-under-gst-sections-4-5-6/): Section 4 provides for the appointment of GST officers, Section 5 outlines the powers and duties of these officer, Section 6 allows cross-empowerment between Central and State officers for efficient GST administration.
- [Central Goods and Service Tax 2017: Scope of Supply & Tax Liability on Composite and Mixed Supplies (Section 7 & 8 )](https://taxherald.com/central-goods-and-service-tax-2017-scope-of-supply-tax-liability-on-composite-and-mixed-supplies-section-7-8/): Section 7 of the CGST Act defines what constitutes a supply under GST. Section 8 explains how composite and mixed supplies are taxed. Together, they clarify the scope of supply and its tax treatment.
- [Central Goods and Service Tax 2017: Composition of levy (Section 10)](https://taxherald.com/central-goods-and-service-tax-2017-composition-of-levy-section-10/): Section 10 of the CGST Act provides a simple Composition Scheme for small taxpayers. It allows payment of GST at a lower fixed rate with minimal compliance. This article explains eligibility, limits, and key conditions of the scheme.
- [Central Goods and Services Tax Act, 2017: Power to Grant Exemption (Section 11)](https://taxherald.com/central-goods-and-services-tax-act-2017-power-to-grant-exemption-section-11/): Section 11 of the Central Goods and Services Tax Act, 2017 empowers the Government to grant tax exemptions in public interest. It outlines general, special, and conditional exemptions based on Council recommendations.
- [Government passes revised Income Tax Bill,2025 in the Lok Sabha.](https://taxherald.com/government-passes-revised-income-tax-bill2025-in-the-lok-sabha/): The Lok Sabha has passed the Revised Income Tax Bill, 2025, replacing the old Income Tax Act, 1961. The bill simplifies provisions, removes redundancies, and introduces the “Tax Year” concept. Recommendations from the Parliamentary Select Committee have been incorporated, making tax laws clearer and more efficient without altering core principles.
- [Powers of the board of directors under Companies Act 2013](https://taxherald.com/powers-of-the-board-of-directors-companies-act/): This article delves into the powers granted to the Board of Directors under the Companies Act, 2013. It highlights key decision-making authorities, limitations, and responsibilities that ensure smooth governance and strategic control within a company.
- [Income Tax Rates for Individual Taxpayers for FY 2023-24](https://taxherald.com/income-tax-rates-for-individual-taxpayers-for-fy-2023-24/): Income tax Rates for Financial year 2023-24 , Assessment Year 2024-25. New Tax regime regime rates versus Old Tax regime rates. Exemptions and deductions available under new Tax regime and old Tax regime.
- [Depreciation rates under Income Tax Act](https://taxherald.com/depreciation-rates-under-income-tax-act/): Depreciation is a provision that allows businesses to claim a deduction for the decrease in value of tangible assets used in their business operations over time. The Income Tax Act provides for different rates of depreciation for different types of assets
- [New GST Rates – Outcome of 56th GST Council Meeting and Key Recommendations](https://taxherald.com/new-gst-rates-outcome-of-56th-gst-council-meeting-and-key-recommendations/): GST rates rationalised, 28% and 12% rates removed. Key common man items moved to 5%. Small cars at 18% tax rate. Changes with effect from 22nd September 2025. GST registration process simplified for small and low risk businesses. The GST council has recommended New reduced GST rates. The new rates are set to take effect
- [Sectorwise New GST Rates- Outcome of 56th GST Council meeting with effect September 22nd of 2025](https://taxherald.com/sectorwise-new-gst-rates-outcome-of-56th-gst-council-meeting-with-effect-september-22nd-of-2025/): SECTOR WISE NEW GST RATES WITH EFFECT 22nd SEPTEMBER 2025. The GST council has recommended New reduced GST rates. The new rates are set to take effect from 22nd of September 2025.GST rates rationalised for common man items, Health Items, food sector, Agriculture, consumer electronics. Further GST rates of 12% and 28% have been removed.
- [Due date for filing appeal under GST-Section 107](https://taxherald.com/due-date-for-filing-appeal-under-goods-and-service-tax-gst-section-107/): Learn about the due dates and timelines for filing an appeal under Section 107 of the GST Act. This article outlines the procedure, authority involved, and the importance of timely action to safeguard your rights under GST.
- [Small company](https://taxherald.com/small-company/): Under the Companies Act, 2013, a “Small Company” enjoys several compliance benefits and exemptions. This article explains the criteria, advantages, and regulatory relaxations provided to small companies, aiding startups and growing businesses in managing legal obligations efficiently.
- [Registration under Goods and Services Tax (GST)](https://taxherald.com/registration-under-goods-and-services-tax-gst/): Registration under Goods and Services Tax (GST) is essential for businesses crossing the prescribed turnover threshold. This article outlines the types of GST registration, eligibility, process, and documents required to ensure compliance with India's indirect tax framework.
- [Income Tax Slab Rates for financial year 2022-23; AY 2023-24](https://taxherald.com/income-tax-slab-rates-for-financial-year-2022-23-ay-2023-24/): Stay updated with the latest Income Tax Slab Rates for FY 2022–23 (AY 2023–24). This article provides a detailed breakdown of tax rates under both the old and new regimes, helping individuals and businesses make informed financial decisions.
- [Sample resolution format for appointment of Authorized Signatory to represent the Company in civil , criminal and legal proceedings](https://taxherald.com/sample-resolution-format-for-appointment-of-authorized-signatory-to-represent-the-company-in-civil-criminal-and-legal-proceedings/): This article provides a sample board resolution format for appointing an authorized signatory to represent a company in civil, criminal, and legal proceedings. It ensures legal empowerment and clarity on roles, protecting the company's interests in all judicial matters.
- [Indian Contract Act, 1872 : Understanding Essential Terms](https://taxherald.com/indian-contract-act-1872-understanding-essential-terms/): This article breaks down the core terms used in the Indian Contract Act, 1872—such as proposal, acceptance, consideration, agreement, and contract. It helps readers clearly understand the legal foundation of contracts and the significance of each term in forming a valid agreement.
- [Depreciation as per Companies Act, 2013](https://taxherald.com/depreciation-as-per-companies-act-2013/): The Companies Act, 2013 provides the useful life of various assets under Schedule II. Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. Full text of Schedule II of Companies Act,2013.

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