Sansa Law Desk

A relinquishment deed is a legal document through which a co-owner or legal heir voluntarily gives up their rights, title, and interest in a jointly owned or inherited property in favour of another co-owner or legal heir. Unlike a sale deed or gift deed, a relinquishment deed operates specifically between co-owners of the same property and is commonly used during family property settlements, succession planning, and partition arrangements. When a Relinquishment Deed Is Used

Tax Deducted at Source (TDS) is a mechanism through which the government collects income tax at the point of income generation. If the total TDS deducted during a financial year exceeds your actual tax liability, you are entitled to claim a refund of the excess amount. The refund is claimed by filing your Income Tax Return (ITR) through the official e-filing portal at incometax.gov.in. When You Are Eligible for a TDS Refund A TDS refund arises when: your employer deducts TDS

On June 24, 2026, the Supreme Court of India dismissed a plea that challenged the fee structure of private medical colleges in Rajasthan, ruling that Economically Weaker Sections (EWS) reservation operates only at the point of admission and does not create any right to concessional fees in private institutions. The Bench of Justices BV Nagarathna and Joymalya Bagchi upheld the Rajasthan High Court's ruling that the fee structure fixed by the State Fee Regulatory Committee was

The Madras High Court has halted certain project works of Yuzhan Technology India, a subsidiary of Foxconn, amid a contract dispute with BNR Infrastructure Projects. The Court directed that the respondent cannot claim to continue work either by itself or through any third parties until June 29, 2026. The order was passed under the Arbitration and Conciliation Act, 1996, following BNR's application seeking interim injunctive relief. Background of the Dispute BNR Infrastructure

A Shop and Establishment Licence (also called a Gumasta Licence in Maharashtra) is a mandatory registration for every commercial establishment in India, whether it is a shop, office, restaurant, hotel, warehouse, or startup operating from a physical premises. The licence is governed by the Shop and Establishment Act of the respective state and is typically the first legal proof that a business has commenced operations at a particular location. Why the Licence Is Required The

GST registration is the first compliance step for any business whose aggregate turnover exceeds the threshold limit prescribed under the Central Goods and Services Tax Act, 2017. The entire registration process is electronic and completed through the official GST portal at www.gst.gov.in. The process is free of charge and, when Aadhaar authentication is completed successfully, the GSTIN can be issued within three working days. Who Must Register for GST? GST registration is m

The Reserve Bank of India on June 23, 2026 issued the Master Direction on Trade Receivables Discounting System (TReDS), 2026, consolidating all existing instructions governing TReDS into a single regulatory framework. The direction simplifies MSME onboarding, allows financiers to avail credit guarantee cover, and revises capital requirements for TReDS operators. These changes are expected to significantly expand the reach of receivables financing for small businesses across I

The Ministry of Corporate Affairs (MCA) has announced the permanent decommissioning of the legacy MCA21 V2 portal, with the final shutdown scheduled for June 30, 2026. All remaining filing forms, including those related to charge creation (CHG-1, CHG-9), Director KYC (DIR-3 KYC), and annual returns (MGT-7/MGT-7A), have been migrated to the V3 platform. Companies that have not yet transitioned must complete the switch before the deadline. Background: The MCA21 V3 Migration Th

The Securities and Exchange Board of India (SEBI), at its board meeting on June 19, 2026, approved amendments to the SEBI (Mutual Funds) Regulations, 2026, to permit intraday borrowing by mutual fund schemes. This regulatory change addresses a long-standing industry request for flexibility to manage temporary liquidity mismatches that arise from settlement timing differences within a single trading day. What Is Intraday Borrowing and Why It Matters Intraday borrowing refers

On June 23, 2026, Chief Justice of India Justice Surya Kant and the Chairman of the Supreme Court of the Russian Federation signed a Memorandum of Understanding (MoU) in Moscow, marking a significant step in bilateral judicial cooperation. The agreement covers the use of artificial intelligence in court procedures, exchange of judicial training programmes, and joint seminars on legal reform. The signing took place during a high-level visit by CJI Surya Kant, accompanied by a

The 56th meeting of the GST Council, held on September 3, 2025, in New Delhi, approved the most significant restructuring of India's Goods and Services Tax since its inception in 2017. The Council endorsed a move to two primary taxable slabs: 5 per cent and 18 per cent, along with a special 40 per cent rate for luxury and sin goods. The reforms, now fully operational as of June 2026, have fundamentally altered compliance obligations, pricing structures, and business strategie

The Reserve Bank of India (RBI) has released the Draft Reserve Bank of India (Non-Banking Financial Companies: Compliance Function) Directions, 2026. These directions seek to consolidate and formalise the compliance governance framework for NBFCs into a comprehensive regulatory structure, replacing the earlier piecemeal guidelines scattered across multiple circulars. Why the RBI Is Strengthening NBFC Compliance The NBFC sector in India has grown substantially over the past d

The Securities and Exchange Board of India (SEBI), at its board meeting on June 19, 2026, approved the GARUDA (Green-channel Authorisation for Rapid and Unhindered Deployment of AIFs) framework. This marks a significant regulatory shift for the alternative investment fund industry, reducing the time for new scheme launches from 30 days to just 10 working days. What Is the GARUDA Framework? GARUDA creates a green-channel mechanism that allows AIFs to begin fundraising within

India's pharmaceutical sector is one of the largest in the world, and every entity involved in the manufacture, sale, stocking, or distribution of drugs must hold a valid licence. The drug licensing system exists to ensure that only qualified persons handle pharmaceutical products and that drugs reaching consumers meet prescribed quality and safety standards. This guide explains the complete process for obtaining a drug licence in India in 2026, covering both retail and whole

Any construction activity in India, whether residential, commercial, or industrial, requires prior approval from the relevant municipal or planning authority. A building permit (also called a building sanction or construction permission) is the legal authorization that confirms a proposed construction complies with applicable building standards, zoning regulations, and safety norms. Without this permit, construction is illegal and may attract demolition orders, heavy fines, o