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Indirect Tax Insights: Expert Analysis and Updates

Startups
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How Much Money Do You Need to Start a Startup in India?

One of the most common questions first-time founders ask is simple: how much money do I actually need? The honest answer is that it depends on what you're building. But the legal side of starting up in India costs far less than most people expect, and the real spending usually comes after incorporation. Step 1: […] Print

Team CounselviseTeam Counselvise-November 04, 2026
Startups
free

Corporate Law for Startups in India

A startup can begin with little more than an idea, a laptop and two founders willing to take a risk. In the early stages, most of their attention goes towards building a product, finding customers and managing costs. Legal paperwork often takes a back seat until an investor requests documents or a disagreement forces the […] Print

Team CounselviseTeam Counselvise-November 03, 2026
Indirect Tax
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Section 148A Reassessment: From Information to Notice

Reassessment is a sequence of separate statutory steps, and a defect at any one of them can be fatal to the notice, so the first task on a new file is to map the sequence. A client forwards a notice late on a Friday. It is under section 148A(b) for a year he had stopped […] Print

Team CounselviseTeam Counselvise-November 03, 2026
Income Tax
free

The Defective Penalty Notice: When the Limb Is Not Struck Off

A penalty notice that leaves both limbs standing tells the assessee nothing about the charge he has to answer, and that silence is often fatal to the penalty. The assessment order has come. The addition is modest, the client is resigned, and stapled behind the order is the penalty notice. You read it once and […] Print

Team CounselviseTeam Counselvise-November 03, 2026
Income Tax
free

Bogus Purchases: How the Addition Is Actually Decided

Where the sales are accepted and the stock records tally, the argument on bogus purchases is almost never about the whole amount. The information has come from another wing of the Department. A list of suppliers, a statement recorded from someone your client has never met, and the conclusion that purchases of a stated figure […] Print

Team CounselviseTeam Counselvise-November 02, 2026
Indirect Tax
free

Cash Found in a Search or Survey

Cash found during a search is added under section 69A only where the assessee is its owner and the explanation of how he came by it is unsatisfactory. The panchnama lists cash recovered from the business premises and from a cupboard at the residence. Your client's statement, recorded at two in the morning, says the […] Print

Team CounselviseTeam Counselvise-October 31, 2026
Income Tax
free

Identity, Creditworthiness and Genuineness: The Three Tests

The three limbs of section 68 are three separate tests, and a submission that runs them together usually loses on the one it never actually answered. Read the last order you received on a cash credit addition. Somewhere in it there is a sentence saying the assessee has failed to prove the identity, creditworthiness and […] Print

Team CounselviseTeam Counselvise-October 31, 2026
Indirect Tax
free

Section 68 Unexplained Cash Credit: What the Assessee Has to Prove

Section 68 asks the assessee to explain a credit in the books, and the explanation has to satisfy three separate tests before the Assessing Officer is obliged to accept it. The notice usually arrives in the same shape every time. A list of parties, the amounts credited, and a single line asking the assessee to […] Print

Team CounselviseTeam Counselvise-October 29, 2026
Finance
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L&T Share Price Surge: Why Shares Rose Over 6% After Q2 Results

Larsen & Toubro (L&T) shares rose over 6% in early trading on October 28, 2026, after the company announced its September-quarter results a day earlier. The rally followed a 32.5% increase in consolidated net profit and a record quarterly order inflow. The numbers explain why the results attracted attention. However, the difference between strong earnings […] Print

Team CounselviseTeam Counselvise-October 28, 2026