Recent Updates on Income Tax, GST & Corporate Law: 6 February 2025 Income Tax Update 1: CBDT order for sharing information on Income Tax payers to the Department of Foods & Public Distribution The Central Board of Direct Taxes (CBDT), …
Latest Updates on Income Tax, GST & Corporate Law: 3 February 2025 Income Tax Update 1: New Scheme to ALP on International Transactions for a Block Period of 3 years In the budget 2025, the finance minister proposed a new …
The court also highlighted the distinction in the Income Tax Act between income derived from house property and an interest in property. The Delhi High Court has ruled that tax liability on income from house property should be imposed on …
Recent Updates on Income Tax, GST & Corporate Law: 31 January 2025 Income Tax Update-1: New SMS campaign by the Income Tax Department to warn taxpayers about political donations claim The Income Tax Department has issued a cautionary message to …
Taxpayers who claimed deductions under Section 80GGC of Income Tax Act are advised to verify their claims. The Income Tax Department has launched an SMS campaign to alert taxpayers regarding deductions claimed under Section 80GGC for political donations. This initiative …
Recent Updates on Income Tax, GST, and Corporate Law – 29 January 2025 Income Tax Update 1: CBDT Notification No. 10/2025 – Key Amendments for Venture Capital Funds, Finance Companies, Retail Schemes, and ETFs in IFSCs The Ministry of Finance, …
These amendments are pivotal for strengthening India’s financial ecosystem and attracting global investments through IFSCs. The Ministry of Finance, via the Central Board of Direct Taxes (CBDT), has introduced pivotal amendments to the Income Tax Rules, 1962. Through Notification No. …
Recent Updates on Income Tax, GST & Corporate Law: 28 January 2025 Income Tax Update 1: SBI Research Suggests for Flat 15% Tax on FD Interest & Delinking it from Highest Income Slab SBI Research says tax on fixed deposits …
Recent Updates on Income-tax, GST & Corporate Law – January 27, 2025 Income-Tax Update-1: A Sukanya Samriddhi account can be opened by the guardian immediately after the girl child’s birth until she turns 10 years old. The scheme is exclusively …
Parents or guardians can open an Sukanya Samriddhi Account for their girl child from birth until she turns 10 years old, at any designated post offices or commercial bank branches. The Sukanya Samriddhi Yojana (SSY) is a flagship government initiative …
Latest Updates on Income-Tax, GST & Corporate-Law: January 26, 2025 Income-Tax Update-1: The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT), in the case of Bosch Automotive Electronics, held that the failure to prove benefit alone cannot be accepted …
The supreme court also proposed standardizing fees for title search reports to ensure their quality. In a significant move to safeguard public funds and reinforce trust in the banking sector, the Supreme Court has urged the Reserve Bank of India …
The PPT ensures that DTAAs are applied to foster genuine economic activity, such as the exchange of goods and services, and the movement of capital and individuals. Guidance for Application of PPT: The Multilateral Convention to Implement Tax Treaty Related …
These Tax Amendments are a Part of Comprehensive Measures to Attract Global Tourists and Foster Domestic Interest in Cruise Travel. The Central Board of Direct Taxes (CBDT) has officially introduced key amendments to the Income-Tax Rules, setting forth the conditions …
GST Instruction No. 1/2025: Guidelines for Arrest & Bail As a critical update to Instruction No. 2/2022-23 GST (Investigation) dated 17 August 2022, the GST Investigation wing has released fresh guidelines regarding arrest and bail for offences punishable under the …
Multiple GST Notifications on 16 January 2025 Introducing Significant Changes in GST Rates, Exemptions & RCM The Central Board of Indirect Taxes and Customs (CBIC) has issued multiple notifications dated January 16, 2025, implementing the recommendations of the GST Council. …
Rule 9B of the Companies Act, 2013, specifies that after September 30, 2024, securities of Section 8 companies can only be transferred in dematerialized form. Dematerialization of Shares by Section 8 Companies: The Ministry of Corporate Affairs (MCA) issued a …
The cryptocurrency industry has voiced significant concerns about the current taxation structure, emphasizing its potential impact on compliance, market liquidity, and innovation. India’s taxation framework for cryptocurrency and other Virtual Digital Assets (VDAs) has introduced specific guidelines that impact investors, …
Legal Heir Registration under Income Tax In accordance with sub-section (1) of section 159 of the Income-tax Act, 1961, when an individual passes away, their legal heir is responsible for paying any tax dues that the deceased person would have …
Revision in Form 24Q: New Column 388A introduced & Column 375 renamed as Column 388 Key Changes in Form 24Q: In a significant move aimed at improving tax efficiency and reducing the burden on salaried individuals, the government has introduced …