ITAT Kolkata directs AO to allow Foreign Tax Credit to Debanjan Chatterjee, overturning CPC Bengaluru’s denial due to belated filing. Read the full case summary.
Assessee did not file a revised return in response to the Section 148 notice nor did she request the AO to treat her original return as the one filed under the said notice. The court cited the GKN Driveshafts judgment, stating that the assessee should file a return and then seek reasons for reopening.
RBI updates norms for government-guaranteed Security Receipts, affecting valuation, capital deductions, and dividend payments. Effective immediately.
SEBI invites public comments on a draft circular for Expected Loss (EL)-based municipal bond ratings. Submit feedback by April 18, 2025. Read more details.
TAT Pune ruled that 12A registration of trusts engaged in genuine charitable activities cannot be revoked. Exemptions can be denied only for specific violations.
Explore Rule 39 of the CGST Act, detailing ITC distribution by Input Service Distributors, key amendments, pro-rata allocation, and compliance essentials.
The Government of India has introduced several significant amendments to the Income Tax Act, which will come into effect from April 1, 2025. These changes encompass revisions in tax slab rates, modifications in Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) provisions, an extension of deadlines, and new taxation rules for partnership […]
Compare internal vs. external board evaluations. Learn their pros, cons, costs, and impact on governance to choose the best approach for your company.
On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’s fiscal policy framework.
Ensure GST compliance before the financial year ends. Key tasks include registration updates, invoice checks, return reconciliations, and refund applications.
