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New Income Tax Bill          Union Budget + Finance Bill, 2025

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

Customs Waives Late Fees for Bills of Entry Due to ICEGATE System Downtime During Budget 2025-26 Implementation
February 19, 2025   Circulars     Customs

Research Analysts Must Follow New Fee Caps and Disclosure Rules Under Section 11(1) of SEBI Act
February 19, 2025   Circulars     SEBI

Investment Advisers Must Follow New Fee Caps and Client Agreement Terms Under SEBI Guidelines
February 19, 2025   Circulars     SEBI

Research Analysts Must Obtain NISM-Series-XV Certification and Renew Through Series-XV-B Exam Under RA Regulations 2014
February 19, 2025   Notifications     SEBI

License Agreement for Music Rights: Minimum Guarantee Fees Not Royalty, Costs to be Amortized Over 6-Year Period
February 19, 2025   Case Laws     Income Tax

Taxpayer Eligible for Section 115BAA Benefits Despite Previous Year's Late Form 10-IC Filing
February 19, 2025   Case Laws     Income Tax

Credit Card Payments Need Detailed Bank Statement Analysis Before Rejecting Taxpayer's Source of Funds Under Section 292C
February 19, 2025   Case Laws     Income Tax

Income Tax Assessments Under Section 153C Quashed Due to Invalid Satisfaction Note and Jurisdictional Time Limits
February 19, 2025   Case Laws     Income Tax

Assessments Nullified After Tax Authority Issues Combined Approval Without Proper Review Under Section 153D
February 19, 2025   Case Laws     Income Tax

Black Money Act Assessment Orders Invalid As Notice Year Mismatched With Assessment Year Under Section 10(1)
February 19, 2025   Case Laws     Income Tax

Pharmacy Division Income of Hospital Exempt Under Section 11(1) as Essential Part of Charitable Healthcare Services
February 19, 2025   Case Laws     Income Tax

Assessment Reopening Notice Under Section 147 Quashed As Officer Failed To Specify Non-Disclosed Material Facts
February 19, 2025   Case Laws     Income Tax

Insurance Company's IBNR Provisions Based on Actuarial Valuation Allowed as Deduction Under Income Tax Act
February 19, 2025   Case Laws     Income Tax

Global Account Management Fees Classified as Technical Services Under Section 9(1)(vii), Leaseline Charges as Royalty Under 9(1)(vi)
February 19, 2025   Case Laws     Income Tax

Salesforce.com secures nil tax withholding certificate as Indian affiliate fails permanent establishment test under Section 197(1)
February 19, 2025   Case Laws     Income Tax

Additions for Property Deals and Cash Receipts Deleted; Section 50C Valuation Referred to DVO for Fresh Assessment
February 19, 2025   Case Laws     Income Tax

Assessing Officer's Pecuniary Jurisdiction Under Section 120(3) Valid Despite Territorial Reassignment; Enhancement Under 41(1) Remanded
February 19, 2025   Case Laws     Income Tax

Service Tax Refund Granted for Double Payment as Section 11B Time Limitation Not Applicable to Mistaken Payments
February 19, 2025   Case Laws     Service Tax

Gold Purchase Transaction of Rs. 1 Crore Deemed Benami Under PBPTA Due to Indirect Delivery and Suspicious Fund Transfers
February 19, 2025   Case Laws     Benami Property

Double Payment of Customs Duty Eligible for Refund When Financial Burden Not Passed and Error Proven
February 19, 2025   Case Laws     Customs

Vehicle Door Handle Components Classified Under CTH 87082900 Despite Incomplete State Due to Principal Use and Identity
February 19, 2025   Case Laws     Customs

RBI's Failure to Exercise Statutory Powers Under Sections 45-IE and 45MA Leads to Mandamus Issuance
February 19, 2025   Case Laws     Companies Law

Company Winding-up Petition Moves to NCLT After 7-Year Stagnation Following Respondent's Request Under IBC
February 19, 2025   Case Laws     Companies Law

NCLT Cannot Modify Resolution Plans or Challenge CoC's Commercial Decisions When IBC Section 53(1) Requirements Are Met
February 19, 2025   Case Laws     IBC

Foreign Exchange Management Act penalty waived after insufficient evidence linking appellant to alleged Hawala transactions under Section 3(c)
February 19, 2025   Case Laws     FEMA

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Rates of income-tax in respect of income liable to tax for the assessment year 2025-26.
Tax rates under Part I of the First Schedule applicable for the assessment year 2025-26
Co-operative Societies - Tax Rates For the assessment year 2025-26
Firms - Tax Rates For the assessment year 2025-26
Local authorities - Tax Rates For the assessment year 2025-26
Companies - Tax Rates For the assessment year 2025-26
Rates for deduction of income-tax at source during the financial year (FY) 2025-26 from certain incomes other than "Salaries".
Rates for deduction of income-tax at source from "Salaries", computation of "advance tax" and charging of income-tax in special cases during the FY 2025-26 (Assessment Year 2026-27)
Individual, HUF, association of persons, body of individuals, artificial juridical person. - Rate of TDS during the FY 2025-26 (Assessment Year 2026-27).
Co-operative Societies - Rate of TDS during the FY 2025-26 (Assessment Year 2026-27).
Firms - Rate of TDS during the FY 2025-26 (Assessment Year 2026-27).
Local authorities - Rate of TDS during the FY 2025-26 (Assessment Year 2026-27).
Companies - Rate of TDS during the FY 2025-26 (Assessment Year 2026-27).
Rebate under section 87A
Incentives to International Financial Services Centre
Extension of sunset dates for several tax concessions pertaining to IFSC
Exemption on life insurance policy from IFSC Insurance offices
Exemption to capital gains and dividend for ship leasing units in IFSC
Rationalisation of definition of 'dividend' for treasury centres in IFSC
Simplified regime for fund managers based in IFSC
Amendment of Section 10 related to Exempt income of Non-Residents
Inclusion of retail schemes and Exchange Traded Funds (ETFs) in the existing relocation regime of funds of IFSCA
Extension of date of making investment by Sovereign Wealth Funds, Pension Funds & others and rationalisation of tax exemptions
Scheme of presumptive taxation extended for non-resident providing services for electronics manufacturing facility
Extension of benefits of tonnage tax scheme to inland vessels

More Notes

Notifications Notifications

Cus (NT)

- Customs (On - Arrival Movement for Storage and Clearance at Authorised Importer Premises) Regulations, 2025
February 17, 2025

SEBI

- Research Analyst Examination : Notification under regulation 3 of the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007
February 14, 2025

SEBI

- Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2025
February 14, 2025

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
February 14, 2025

SEBI

- Securities and Exchange Board of India (Procedure for making, amending and reviewing of Regulations) Regulations, 2025
February 13, 2025

Cus

- Seeks to amend Notification 11/2021-Customs dated 01.02.2021 to amend AIDC rate (Agriculture Infrastructure and Development Cess) on Bourbon whiskey
February 13, 2025

SEZ

- Central Government re-notifies an area of 10.9368 hectares at Village Ognaj, Taluka Dascroi, District Ahmedabad in the State of Gujarat
February 12, 2025

Co. Law

- Companies (Prospectus and Allotment of Securities) Amendment Rules, 2025 - Amendment in Rule 9B - Issue of securities in dematerialised form by private companies
February 12, 2025

IT

- Exemption from specified income U/s 10(46A) of IT Act 1961 – Real Estate Regulatory Authority, Punjab
February 12, 2025

CGST

- Seeks to bring in force provisions of various rule of Central Goods and Services Tax (Amendment) Rules, 2024
February 11, 2025

SEBI

- Securities and Exchange Board of India (Investor Charter) (Amendment) Regulations, 2025.
February 10, 2025

FTP

- Amendment in Export Policy of Raw Human Hair
February 10, 2025

IT

- Central Government approves ‘Bhaikaka University’ Anand, Gujarat for ‘Scientific Research’ under the category of ‘University, college or other institution’ for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961
February 10, 2025

SEZ

- The Central Government has granted approval for the amalgamation of Special Economic Zones into one Multi-Sector Special Economic Zone, spanning 246.333 hectares. The zone is being developed by M/s. Mahindra World City Developers Limited and is situated in Chenglepet Taluk, Kancheepuram District, Tamil Nadu.
February 7, 2025

SEBI

- Amendment in Notification No. S.O. 2192(E) dated 8th January, 2010 - To prevent undesirable speculation in securities in the whole of India
February 7, 2025

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

Income Tax

- Extension of due date for filing of Form No. 56F under the Income-tax Act, 1961
February 18, 2025

SEBI

- Most Important Terms and Conditions (MITC) for Research Analysts
February 17, 2025

SEBI

- Most Important Terms and Conditions (MITC) for Investment Advisers
February 17, 2025

Customs

- Automation of Refund Application and Processing in Customs
February 17, 2025

Customs

- Single Unified Multi-Purpose Electronic Bond in Customs-Ekal Anubandh
February 17, 2025

SEBI

- Revised timelines for issuance of Consolidated Account Statement (CAS) by Depositories
February 14, 2025

SEBI

- Industry Standards on “Minimum information to be provided for review of the audit committee and shareholders for approval of a related party transaction”
February 14, 2025

SEBI

- Relaxation in timelines for holding AIFs’ investments in dematerialised form
February 14, 2025

GST

- Clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 55th meeting held on 21st December, 2024, at Jaisalmer
February 14, 2025

DGFT

- Guidelines for availing Import Authorisation for Import of Premium Frozen Duck Meat into India under ITC HS Code 0207 4200 & 0207 4500
February 13, 2025

FEMA

- Import Bank of India’s GOI-supported Line of Credit of USD 120 mn to the Government of the Socialist Republic of Vietnam (GO-VNM) for procurement of High-Speed Guard Boats in the Borrower’s Country
February 13, 2025

FEMA

- Export-Import Bank of India’s GOI-supported Line of Credit of USD 180 mn to the Government of the Socialist Republic of Vietnam for procurement of 4 Offshore Patrol Vessels (OPV) in the Borrower’s Country
February 13, 2025

DGFT

- Procedure for filing application for allocation of Tariff Rate Quota (TRQ) of Gold Bullion under India-UAE CEPA for FY 2025-26
February 12, 2025

SEBI

- Service platform for investors to trace inactive and unclaimed Mutual Fund folios- MITRA (Mutual Fund Investment Tracing and Retrieval Assistant)
February 12, 2025

DGFT

- Procedure for Allocation of Quantities for import of Calcined Petroleum Coke for Aluminium Industry and Raw Petroleum Coke for CPC manufacturing industry, for the Financial Year 2025-26
February 12, 2025

More Circulars

News News, PIB

Senate GOP budget bill back on track hours after Trump threw it into turmoil
February 20, 2025


South Africa abruptly cancels budget speech over dispute in governing coalition
February 19, 2025


Why people from Bengal working as migrant labourers in other states, asks BJP MLA Ashok Lahiri
February 19, 2025


Manmohan Singh was successful PM and father of economic reforms, says Gujarat CM
February 19, 2025


High frequency indicators point at sequential pickup in economic activity: RBI bulletin
February 19, 2025


CM says Rajasthan Budget fulfils promises; Cong calls it 'illusion of figures'
February 19, 2025


Rajasthan Budget focuses on jobs, water supply; commits to make state USD 350-bn economy by 2030
February 19, 2025


Google agrees to pay Italy USD 340 million to settle tax evasion investigation
February 19, 2025


Rajasthan govt committed to make state USD 350 billion economy by 2030: Dy CM Diya Kumari
February 19, 2025


Trump threatening existence of GST; will his 'good friend in New Delhi' stand up: Cong
February 19, 2025


Rajasthan govt committed to make state USD 350 billion economy: Diya Kumari
February 19, 2025


9th edition of Asia Economic Dialogue to be held in Pune from Feb 20-22
February 19, 2025


India formulating strategies to ensure that interests of exporters are protected: Minister Jitin Prasada
February 19, 2025


India-UAE Comprehensive Economic Partnership Agreement completes 3 years of signing
February 19, 2025


Competition Commission of India (CCI) approves the acquisition of certain interest in Blackwater Coal Mine by NS Blackwater Pty Limited and JFE Steel Australia (BW) Pty Ltd
February 19, 2025


More News

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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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