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

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

Preprinted Waiver Forms Cannot Substitute Oral Show Cause Notices Under Section 124 of Customs Act
April 4, 2025   Case Laws     Customs

Customs Duty Exemption for Wireless Access Points with MIMO Technology Upheld Without LTE Standards Requirement
April 4, 2025   Case Laws     Customs

Unsecured Loans Additions Deleted After Lender Verification; Cash Seizure Appeal Allowed; Third-Party Search Evidence Invalid Under Section 153A
April 4, 2025   Case Laws     Income Tax

Land Outside Municipal Limits Not a Capital Asset Under Section 2(14), Exempting Seller from Capital Gains Tax
April 4, 2025   Case Laws     Income Tax

Penalty Under Section 271D Deleted As Loan Disbursed Through Banking Channels, Not Cash Transaction
April 4, 2025   Case Laws     Income Tax

Styrene Butadiene Rubber Anti-Dumping Duty Challenge Dismissed After Domestic Industry Withdraws Implementation Request
April 4, 2025   Case Laws     Customs

Extended Limitation Period Cannot Be Invoked Without Evidence of Willful Suppression Under Central Excise Act
April 4, 2025   Case Laws     Central Excise

Contractual Clause Must Explicitly Prohibit Interest in All Circumstances to Bar Arbitrator from Awarding Pendente Lite Interest
April 4, 2025   Case Laws     Indian Laws

Dishonored Cheque: Complainant Not Required to Prove Financial Capacity, Accused Bears Burden to Rebut Presumption Under Sections 118 and 139
April 4, 2025   Case Laws     Indian Laws

Cheque Dishonour Case: Presumptions Under NI Act Sections 118(a) and 139 Successfully Rebutted By Security Deposit Evidence
April 4, 2025   Case Laws     Indian Laws

No GST Payable on Gas Lost During Transit, But Input Tax Credit Must Be Reversed Under Section 16(1)
April 4, 2025   Case Laws     GST

Investment Firm Cannot Claim Input Tax Credit on Mutual Fund Transactions Under Section 17(2)
April 4, 2025   Case Laws     GST

Free Scraping Tool with Apsara Oil Pastels Constitutes Mixed Supply Under Section 2(74), Taxable at 18% GST (74)
April 4, 2025   Case Laws     GST

Section 34 Application Filed on Next Court Working Day After Holiday Period Deemed Within Limitation Under Arbitration Act
April 4, 2025   Case Laws     Indian Laws

Rice Husk Board with PVC Resin Cannot Be Classified Under Chapter 44 of GST Tariff
April 4, 2025   Case Laws     GST

Goods Delivered Under Fraudulent Orders Still Constitute "Supply" Under Section 7 of CGST Act Despite Non-Payment
April 4, 2025   Case Laws     GST

Input Tax Credit Available on Employer's Share of Mandatory Canteen Services Under Factories Act
April 4, 2025   Case Laws     GST

Transfer Pricing Adjustment for Guarantee Fees Paid to Associated Enterprise Rejected Under Section 254(2)
April 4, 2025   Case Laws     Income Tax

Cash Deposits Partially Exempted as Customary Gifts from Relatives Under Section 69A and 115BBE
April 4, 2025   Case Laws     Income Tax

PMS Fees Qualify as Business Expenses Under Section 37, Not Part of Capital Gains Calculation
April 4, 2025   Case Laws     Income Tax

Taxpayer Wins: IT Support Services to Associated Enterprises Not "Fees for Technical Services" Under India-UK DTAA Article 13
April 4, 2025   Case Laws     Income Tax

Property Transactions Below 50 Lakh Threshold Not Subject to TDS Under Section 194IA
April 4, 2025   Case Laws     Income Tax

Proportionate Allocation Method Valid for Computing Section 36(1)(viii) Deduction When Eligible Business Expenses Not Separately Recorded
April 4, 2025   Case Laws     Income Tax

Businesses Can Apply Margin Scheme for Second-Hand Goods While Maintaining Regular GST Procedures for Other Operations Under Rule 32(5)
April 4, 2025   Case Laws     GST

Input Tax Credit Denied for Concrete Tower Construction Supporting Manufacturing Lines Under Section 17(5)(d) of CGST Act
April 4, 2025   Case Laws     GST

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Curb tax evasion through Unexplained Credits (i.e. unaccounted money or fictitious entries in financial records) in Clause 102 of The Income Tax Bill, 20205 Vs. Section 68 of The Income Tax Act, 1961
Income Apportionment in AOPs and BOIs in Clause 309 of the Income Tax Bill, 2025 Vs. Section 67A of the Income Tax Act, 1961
Comprehensive Analysis of Total Income in Clause 101 of the Income Tax Bill, 2025 Vs. Section 66 of the Income Tax Act, 1961
Addresses the tax liability of individuals in respect of income that is included in the income of another person in Clause 100 of the Income Tax Bill, 2025 vs. Section 65 of the Income Tax Act, 1961
Prevent tax evasion through the diversion of income to family members "clubbing of income" in Clause 99 of the Income Tax Bill, 2025 vs. Section 64 of the Income Tax Act, 1961
Definitions for "transfer" and "revocable transfer" in Clause 98 of the Income Tax Bill, 2025 Vs. Section 63 of the Income Tax Act, 1961
The chargeability of income in the context of the transfer of assets with Exception in Clause 97 of Income Tax Bill, 2025 vs. section 61 & 62 of Income-tax Act, 1961
Prevention of tax avoidance strategies "transfer of income without a corresponding transfer of the asset" in Clause 96 of the Income Tax Bill, 2025 Vs. Section 60 of the Income-tax Act, 1961
Understanding the Tax Implications on benefits obtained from the remission or cessation of liabilities in Clause 95 of the Income Tax Bill, 2025 Vs. Section 59 of the Income-tax Act, 1961
Disallowing deductions of specific expenses in Clause 94 of Income Tax Bill, 2025 vs. Section 58 of Income Tax Act, 1961
Deductions available under "Income from other sources" in Clause 93 of Income Tax Bill, 2025 VS. Section 56 of Income Tax Act, 1961
Modernizing Tax Treatment of Income from other Sources in Clause 92 vs. Section 56 of the Income-tax Act, 1961
Enhancing Fair Market Valuation in Clause 91 of Income Tax Bill, 2025 vs. Section 55A of Income Tax Act, 1961
Interpretations of key terms related to capital gains "adjusted," "cost of improvement," and "cost of acquisition" in Clause 90 of Income Tax bill 2025 vs. Section 55 of Income Tax Act, 1961
Extension of Time for Reinvesting Capital Gain, original asset is compulsorily acquired, and compensation is delay Clause 89 of the Income Tax Bill, 2025 vs. Section 54H of the Income-tax Act, 1961
Capital gain Tax Relief in relocation of industrial undertakings from urban areas to SEZ area in Clause 88 of Income Tax Bill, 2025 vs. Section 54GA of Income Tax Act, 1961
Capital gain Tax Relief in relocation of industrial undertakings from urban areas to non-urban in Clause 87 of Income Tax Bill, 2025 vs. Section 54G of Income Tax Act, 1961
Encourage investment in residential property by offering tax exemption on capital gains in Clause 86 of the Income Tax Bill, 2025 vs. Section 54F of Income Tax Act, 1961
Treatment of capital gains arising on compulsory acquisition of lands and buildings in Clause 84 of the Income Tax Bill, 2025 vs. Section 54D of the Income Tax Act, 1961
Capital gain Exemption through Investment in the Certain Bonds in Clause 85 of Income Tax Bill, 2025 Vs. Section 54EC of Income Tax Act, 1961
Evaluating the 2025 Finance Bill: Key Changes and Their Impact
Supplementary FAQs for the Finance Bill, 2025: As passed by Lok Sabha
Capital Gains Tax Relief for Agricultural Land: Clause 83 of the Income Tax Bill, 2025 vs. Section 54B of the Income Tax Act, 1961
Capital Gains: Exemption against Residential Property Sales and Reinvestment Incentives in Clause 82 of the Income Tax Bill, 2025 vs. Section 54 of the Income Tax Act, 1961
Capital Gains Taxation: The Role of Advance Payments in Clause 81 of the Income Tax Bill, 2025 vs. Section 51 of the Income-tax Act, 1961

More Notes

Notifications Notifications

IT

- Notifies that every person who has been allotted permanent account number on the basis of Enrolment ID of Aadhaar application form filed prior to the 1st day of October, 2024
April 3, 2025

IT

- Income-tax (ninth Amendment) Rules, 2025
April 3, 2025

Cus (NT)

- Export Entry (Post export conversion in relation to instrument based scheme) Regulations, 2025
April 3, 2025

Cus (NT)

- Corrigendum - Notification No. 18/2025- (N.T.), dated 28th March, 2025
April 2, 2025

FTP

- Inclusion of Land Custom Stations Darranga as Food Import Entry Points in List "A" of Appendix-V to Schedule-I (Import Policy), ITC (HS), 2022 in sync with relevant FSSAI Notification
April 2, 2025

FTP

- Amendment in import policy and policy condition of Roasted Areca Nuts falling under ITC (HS) Code 20081920 of Chapter-20 of ITC (HS), 2022, Schedule-I (Import Policy)
April 2, 2025

SEBI

- Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2025
April 1, 2025

FTP

- Supply of essential commodities to the Republic of Maldives during 2025-26
April 1, 2025

IT

- Exemption from specified income U/s 10(46) of IT Act 1961 - 'Karnataka Urban Water Supply & Drainage Board, Bangalore'
March 28, 2025

IT

- Income-tax (Eighth Amendment) Rules, 2025 - Tax Audit Report - Amends 3CD Statement of particulars required to be furnished under Section 44AB
March 28, 2025

Cus

- Seeks to amend Notification No. 25/2021-Customs, dated the 31st March, 2021 - Amends India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA)
March 28, 2025

Cus

- Seeks to amend Notification No. 22/2022-Customs, dated the 30th April, 2022 - Amends first tranche of India UAE CEPA
March 28, 2025

Cus (NT)

- Sea Cargo Manifest and Transshipment (Second Amendment) Regulations, 2025
March 28, 2025

Cus (NT)

- Appointment of Common Adjudicating Authority
March 28, 2025

Cus (NT)

- Postal Imports Regulations, 2025
March 28, 2025

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

Customs

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

Customs

- Implementation of the Export Entry (Post export conversion in relation to instrument-based scheme) Regulations, 2025
April 3, 2025

DGFT

- Amendment in Appendix 4B of Handbook of Procedures, 2023
April 3, 2025

FEMA

- Limits for investment in debt and sale of Credit Default Swaps by Foreign Portfolio Investors (FPIs)
April 3, 2025

SEBI

- Relaxation of provision of advance fee restrictions in case of Investment Advisers and Research Analysts
April 2, 2025

SEBI

- Extension of timeline for formulation of implementation standards pertaining to SEBI Circular on “Safer participation of retail investors in Algorithmic trading”
April 1, 2025

SEBI

- Clarification on the position of Compliance Officer in terms of regulation 6 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
April 1, 2025

Customs

- Implementation of the Sea Cargo Manifest and Transhipment Regulations (SCMTR) -reg.
March 29, 2025

SEBI

- Intraday Monitoring of Position Limits for Index Derivatives
March 28, 2025

SEBI

- Extension of timelines for submission of offsite inspection data
March 28, 2025

SEBI

- Extension of timelines for submission of offsite inspection data
March 28, 2025

SEBI

- Amendment to Master Circular for Infrastructure Investment Trusts (InvITs) dated May 15, 2024
March 28, 2025

SEBI

- Amendment to Master Circular for Real Estate Investment Trusts (REITs) dated May 15, 2024
March 28, 2025

SEBI

- Measures to facilitate ease of doing business with respect to framework for assurance or assessment, ESG disclosures for value chain, and introduction of voluntary disclosure on green credits.
March 28, 2025

SEBI

- Extension towards Adoption and Implementation of Cybersecurity and Cyber Resilience Framework (CSCRF) for SEBI Regulated Entities (REs)
March 28, 2025

More Circulars

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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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