The Budget 2025 introduces significant reforms in personal income tax, aimed at providing relief to middle-class taxpayers while simplifying the tax structure. The proposed changes focus on increasing the tax exemption limit, rationalizing tax slabs under the new regime, and ensuring greater disposable income in the hands of individuals. With a higher rebate threshold and […]
Budget 2025 highlights key reforms in rural development, manufacturing, and taxation, including tax exemption up to ₹12 lakh and financial sector reforms.
CESTAT Delhi held that as per section 45 of the Customs Act, 1962, being the custodian of imported goods, appellant was burdened with the responsibility of safe custody of the imported goods.
IFSCA appoints a new Nodal Officer for implementing Section 12A of the WMD Act and Section 51A of the UAPA. Updated circular available on the IFSCA website.
Customs Commissioner renews Nhava Sheva Freeport Terminal Pvt. Ltd.’s custodianship and CCSP status for 5 years under Customs Act, 1962.
Punjab and Haryana High Court held that revisionary proceedings under section 263 of the Income Tax Act on the basis of audit objections raised by audit party justifiable since there was no verification done by AO during assessment proceedings.
Respondent had already reached the age of superannuation and he worked under pressure, penalty of dismissal was disproportionate to the misconduct established against the respondent and his unblemished career for a long time.
Assessee also pointed out that the income from these credits was included in its accounts for the year and taxed accordingly. A claim for interest under section 244A for the short refund was also raised.
Punjab & Haryana HC quashes Punjab’s decision to cancel a medical student’s admission under the Freedom Fighters quota, emphasizing the State’s duty to act responsibly in litigation.
Compare Old vs. New Tax Regimes for FY 2025-26. Check tax slabs, deductions, rebates, and use the tax calculator to estimate your tax liability.
