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New Income Tax Bill          Finance Act, 2025 [+Budget] 

Highlights Highlights, Income Tax, GST, Import Eport and Corporate Laws

Territorial Jurisdiction Denied: Petitioner Directed to Refile in Appropriate Forum with Substantive Rights Preserved
April 17, 2025   Case Laws     Income Tax

Gold Import Violation: Seizure Upheld as Court Rejects Fine Option and Confirms Confiscation Under Customs Act Section 125
April 17, 2025   Case Laws     Customs

Club Membership Services Face New Tax Liability as Mutuality Principle Shifts for Post-2012 Incorporated Clubs
April 17, 2025   Case Laws     Service Tax

Cooperative Banking Societies Must Comply with TDS Deduction Under Section 194N, No Blanket Exemption Allowed
April 17, 2025   Case Laws     Income Tax

Reassessment Notice Under Section 148 Upheld: Limitation Period Calculation Validated by Excluding Specific Timeframe
April 17, 2025   Case Laws     Income Tax

Unexplained Sundry Creditors Additions Struck Down: Procedural Flaws Invalidate Tax Authority's Amendment Under Section 154
April 17, 2025   Case Laws     Income Tax

Tax Tribunal Validates Commercial Loan Transactions and Melting Charges, Upholds Assessee's Accounting Practices Under Sections 36(1)(iii)
April 17, 2025   Case Laws     Income Tax

Technical Services Fees Defined: Specialized Knowledge Transfer Beyond Generic Operational Instructions Determines Taxability in Cross-Border Logistics
April 17, 2025   Case Laws     Income Tax

Exporters Can Seek IGST Refund by Submitting Representation and Providing Copy to Respondent Within 2 Weeks
April 17, 2025   Case Laws     GST

Tribunal Finds Business Profits at 2.21%, Rejects Unreliable Accounts and Prevents Double Taxation Under Section 143(3)
April 17, 2025   Case Laws     Income Tax

Insurance Company Wins Major Tax Battle: Multiple Deductions Upheld, Exemptions Confirmed, Gross Income Principles Clarified
April 17, 2025   Case Laws     Income Tax

Shipping Company Wins Tonnage Tax Scheme Appeal, Secures Partial Tax Benefits and Expense Deductions
April 17, 2025   Case Laws     Income Tax

Tax Treatment of Security Receipts: Asset Reconstruction Company Wins Case on RBI Guidelines and Accounting Methodology
April 17, 2025   Case Laws     Income Tax

Trust Tax Exemption Upheld: Section 11 Protects Income, Limits Penalty Scope to Specific Violations, Preserves Depreciation Claims
April 17, 2025   Case Laws     Income Tax

US Company's Passenger System Services to Indian Airline Not Taxable as Technical Fees Under India-USA Tax Treaty
April 17, 2025   Case Laws     Income Tax

Tribunal Validates Singapore Company's Short-Term Capital Loss Carry Forward Rights Under Section 74, Blocking Retrospective Revenue Challenge
April 17, 2025   Case Laws     Income Tax

Tax Dispute Resolved: Internal Development Expenses Validated Through Comprehensive Documentary Evidence and Substantive Transaction Authenticity
April 17, 2025   Case Laws     Income Tax

High Court Upholds PMLA Arrest Order, Ruling Territorial Jurisdiction Rests Where Scheduled Offence Was Registered
April 17, 2025   Case Laws     Money Laundering

Limitation Period Paused: IBC Proceedings Deemed Bona Fide, Time Exclusion Granted Under Section 14
April 17, 2025   Case Laws     IBC

TDS Non-Deduction Dispute: Assessing Officer Ordered to Reexamine Evidence and Verify Tax Payment Compliance
April 17, 2025   Case Laws     Income Tax

Transfer Development Rights Not Taxable Under GST When Developer Exchanges Construction Rights for Built-Up Units
April 17, 2025   Case Laws     GST

GST Registration Cancellation Can Be Revoked by Filing Pending Returns and Clearing Outstanding Tax Dues Under Section 29(2)(c)
April 17, 2025   Case Laws     GST

Tax Reassessment Invalidated: AO Fails to Substantiate Escaped Income Claims Under Section 147
April 17, 2025   Case Laws     Income Tax

Taxpayer's Challenge Rejected: Show Cause Notice Upheld, Personal Hearing Granted, Reply Opportunity Confirmed
April 17, 2025   Case Laws     Income Tax

Taxpayer's Challenge Rejected: Appellate Remedies Mandated for CGST Penalty Dispute Under Section 107
April 17, 2025   Case Laws     GST

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Modernizing Tax Benefits for Higher Education : Clause 129 of the Income Tax Bill, 2025 Vs. Section 80E of the Income Tax Act, 1961
Promoting Affordable Housing through deduction in respect of interest on loans : Clause 130 of the Income Tax bill, 2025 Vs. Section 80EE of the income Tax Act, 1961
Promoting Home Ownership by allowing deductions on interest payments : Clause 131 of Income tax Bill, 2025 Vs. Section 80EEA of the Income Tax act, 1961
Promoting Green Transportation tax Incentives for Electric Vehicles : Clause 132 of the Income Tax Bill, 2025 Vs. Section 80EEB of the Income Tax Act, 1961
Transformation of Tax Deduction Mechanism in respect of donations to certain funds : Clause 133 of the Income Tax Bill, 2025 Vs. Section 80G of the Income-tax Act, 1961
Simplified Rent Deduction Mechanism for Non-HRA Assessees : Clause 134 of the Income Tax Bill, 2025 Vs. Section 80GG of the Income-tax Act, 1961
offer financial relief to taxpayers who incur significant medical expenses on Specified Diseases in Clause 128 of Income Tax Bill, 2025 Vs. Section 80DDB of Income Tax Act, 1961
Supportive Tax Provisions for Individuals and HUFs Caring for Disabled Dependents persons : Clause 127 of the Income Tax Bill, 2025 Vs. Section 80DD of the Income Tax Act, 1961
Understanding Health Insurance Deductions : Insights from Clause 126 of the Income Tax Bill, 2025 Vs. Section 80D of the Income Tax Act, 1961
Tax incentives to individuals who are enrolled in the Agnipath Scheme : Clause 125 of the Income Tax Bill, 2025 Vs. Section 80CCH of the Income Tax Act, 1961
Tax Incentives for Pension Contributions under NPS : Clause 124 of the Income Tax Bill, 2025 Vs. Section 80CCD of the Income Tax Act, 1961
Statutory provision offering tax deductions through savings and investments in specified financial products : Clause 123 of the Income Tax Bill, 2025 Vs. Section 80C of the Income Tax Act, 1961
Comprehensive Guide to Understanding Deductions from Gross total income in Clause 122 of Income Tax Bill, 2025 Vs. Section 80A of Income Tax Act, 1961
Conditions for submission of returns for losses and such losses can be carried forward and set off against future income : Clause 121 of Income Tax Bill, 2025 Vs. Section 80 of Income Tax Act, 1961
Disallowing the set-off of losses against undisclosed income detected through searches, requisitions, or surveys : Clause 120 of Income Tax Bill, 2025 Vs. Section 79A of Income Tax Act, 1961
Legal Insights into carry forward and set off of losses under the head "Capital gains" : Clause 111 of the Income Tax Bill, 2025 Vs. Section 74 of the Income Tax Act, 1961
Condition for carry forward and set off of losses in cases of strategic restructuring : Clause 119 of the Income Tax Bill, 2025 and Comparison with Section 79 of the Income Tax Act, 1961
Condition under which losses can be carried forward and set off against future profits : Clause 119 of the Income Tax Bill, 2025 Vs. Section 78 of the Income Tax Act, 1961
Treatment of losses incurred in the activity of owning and maintaining race horses : Clause 115 of Income Tax Bill, 2025 Vs. Section 74A of Income-tax Act, 1961
Structured mechanism for treatment of losses from specified businesses in Clause 114 of the Income Tax Bill, 2025 Vs. Comparison with Section 73A of the Income-tax Act, 1961
Understanding the Tax Treatment of Speculation Losses in Clause 113 of Income Tax Bill, 2025 Vs. Section 73 of Income Tax Act, 1961
Legal Frameworks for losses and unabsorbed depreciation Carry Forward in Co-operative Bank Mergers and Demergers in Clause 118 of the Income Tax Bill, 2025 Vs. Section 72AB of the Income Tax Act, 1961
Strategic Disinvestment and Tax Benefits in Clause 117 of the Income Tax Bill, 2025 VS. Section 72AA of the Income Tax Act, 1961
Analysis of Tax Provisions in Corporate Amalgamations Clause 116 of the Income Tax Bill, 2025 Vs. Section 72A of Income Tax Act, 1961
Understanding the Business Loss Carry Forward Provisions in Clause 112 of the Income Tax Bill, 2025 Vs. Section 72 of the Income Tax Act, 1961

More Notes

Notifications Notifications

Cus (NT)

- Seeks to amend Notification No. 61/94-Customs (N.T.) dated the 21st November, 1994
April 15, 2025

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
April 15, 2025

FTP

- Amendment in Import Policy Condition No. 07 (i) of Chapter - 27 of Schedule-I (Import Policy) of ITC (HS), 2022
April 15, 2025

IT

- Central Government notifies the last date of the Direct Tax Vivad se Vishwas Scheme, 2024, in respect of tax arrear shall be filed by the declarant to the designated authority.
April 8, 2025

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
April 8, 2025

CE (NT)

- Constitution of Interim Board for Settlement under Sec 31A of Central Excise Act, 1944
April 8, 2025

IT

- Central Government notifies redeemable bonds issued by the Housing and Urban Development Corporation Limited (HUDCO), in respect of "Long-Term Specified Assets" under section 54EC.
April 7, 2025

IT

- Income-tax (Tenth Amendment) Rules, 2025 - Central Government notifies form ITR-B for taxpayers on whom search, or requisition operation has been initiated.
April 7, 2025

IT

- Exemption from specified income U/s 10(46A) of IT Act 1961 Prayagraj Mela Pradhikaran, Prayagraj
April 7, 2025

IT

- Exemption from specified income U/s 10(46A) of IT Act 1961 Greater Mohali Area Development Authority
April 7, 2025

Cus (NT)

- Appointment of Common Adjudicating Authority
April 7, 2025

CE

- Amendment in Notification No. 05/2019-Central Excise, dated the 6th July, 2019 - Increase in the rate of Duty on Petrol and Diesel
April 7, 2025

IT

- Central Government notifies that no deduction of tax shall be made on the payment under section 194EE of the IT Act 1961 - withdrawal from National Savings Scheme or payment to a deferred annuity plan
April 4, 2025

Cus

- Amendment in Notification No. 50/2017-Customs, dated the 30th June, 2017 - Effective Rate of duty: Condition no. 9 for import of "All goods other than Interactive Flat Panel Display (IFPD)" removed.
April 4, 2025

IBC

- Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2025
April 3, 2025

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

DGFT

- Amendment in Appendix 2K (Scale of User Charges and Process for Deposit/ Refund of Application Fee/Penalty, etc) of FTP 2023
April 15, 2025

DGFT

- Operationalisation of DGFT 'Global Tariff and Trade' Helpdesk
April 11, 2025

SEBI

- Specialized Investment Funds ('SIF') - Application and Investment Strategy Information Document (ISID) formats
April 11, 2025

SEBI

- Clarification on Regulatory framework for Specialized Investment Funds ( SIF )
April 9, 2025

SEBI

- Amendment to Circular for mandating additional disclosures by FPIs that fulfil certain objective criteria
April 9, 2025

Central Excise

- Re-assignment of appeals pending in kolkata Zone.
April 8, 2025

SEZ

- Monthly Report from Development Commissioner of Special Economic Zones
April 8, 2025

Customs

- Rescinding of Circular No. 29/2020-Customs dated 29.06.2020 in respect of Transhipment of Export Cargo from Bangladesh to third countries through Land Customs Stations (LCSs) to Port / Airport, in containers or closed bodied trucks
April 8, 2025

FEMA

- Clarifications on the permissibility of issuance of bonus shares to existing non-resident shareholder(s) by Indian companies engaged in sectors prohibited for FDI.
April 7, 2025

FEMA

- Proposal regarding processing of prior permission application under FCRA, 2010
April 7, 2025

Customs

- Clarification on the classification and applicable Basic Customs Duty (BCD) for Interactive Flat Panel Displays (IFPDs) and other monitors
April 7, 2025

SEBI

- Standardized format for System and Network audit report of Market Infrastructure Institutions(MIIs)
April 4, 2025

SEBI

- Recognition and operationalization of Past Risk and Return Verification Agency (PaRRVA)
April 4, 2025

Customs

- Safe custody of detained/ seized/ Confiscated cargo and inspection of Unclaimed/ Uncleared/ Abandoned Cargo Reg.
April 4, 2025

Customs

- Applicability of SCOMET on Polyethylene Glycol CAS No. 25322-68-3
April 3, 2025

More Circulars

News News, PIB

CCI imposes monetary and non-monetary sanctions on UFO Moviez India Pvt. (along with its subsidiary Scrabble Digital Ltd.) and Qube Cinema Technologies Pvt. Ltd., for indulging in anti-competitive conduct
April 17, 2025


India poised to become a trusted bridge of global connectivity through India-Middle East-Europe Economic Corridor (IMEC): Shri Piyush Goyal
April 17, 2025


YSRCP seeks increased tax share from Finance Commission
April 17, 2025


Exports from Indore SEZ decline by over 9 pc to Rs 12,948 cr in FY25
April 16, 2025


Hospitality stakeholders hail GST rebate for hotels in Goa's hinterland
April 16, 2025


India's Retail Inflation Hits Six-Year Low
April 16, 2025


China slams US for increasing its defence budget to USD one trillion
April 16, 2025


Attempt to divert attention from economic crisis: Congress on chargesheet in Herald case
April 16, 2025


Over 1.3 Crore Persons Insured through GeM in FY 2024-25
April 16, 2025


The cumulative exports (merchandise & services) during FY 2024-25 (April-March) is estimated to grow by 5.50% at US$ 820.93 Billion, as compared to US$ 778.13 Billion in FY 2023-24 (April-March)
April 16, 2025


ED should be disbanded, there are other agencies to probe economic offences: Akhilesh
April 16, 2025


Advisory on Case Insensitivity in IRN Generation
April 16, 2025


CCI approves the acquisition of certain shareholding in SNV Aviation Private Limited (Akasa Air) by PI Opportunities Fund-I Scheme-II (PIOF), certain executives of PIOF, Claypond Capital Partners Private Limited (Claypond), and 360 ONE Private Equity Fund (360 Fund), through its various schemes and affiliates.
April 16, 2025


CCI approves proposed transaction involving Aster DM Healthcare, BCP Asia, Centella and Quality Care India Limited
April 16, 2025


CCI approves the proposed combination involving Waverly Pte. Ltd ( Waverly ), TPG Growth V SF Markets Pte. Ltd ( Growth V ), TPG Growth III SF Pte. Ltd ( Growth III ), Asia Healthcare Holdings Pte. Ltd ( AHH Singapore ), Rhea Healthcare Private Limited ( Rhea ), Asia Healthcare Advisory Holdings LLP ( AHH LLP ), and Asian institute of Nephrology and Urology Private Limited ( AINU ).
April 16, 2025


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Jiva Seva is Shiva Seva:
Service to humanity is Service to God

May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

- Swami Vivekananda, CW, 5:137

 

 

 

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