A representation from the Bombay Chartered Accountants’ Society to the CBDT highlights the need for further extensions for income tax returns and audit reports, citing delayed utility releases, portal issues, and other compliance overlaps for the financial year 2024-25.
The ITAT Kolkata has dismissed the Bhaba vs CIT appeal concerning Section 12A registration. The appeal was ruled infructuous after the CIT granted the registration.
The ITAT ruled that an employee cannot be taxed on cash deposits that are found to be the employer’s funds, remanding the case for verification of the end-use of the money.
A new law banning real money gaming in India is seen as a strategic move to foster sustainable growth, attract foreign investment, and boost the non-RMG sector.
Invoice under GST Under GST regime, an invoice or tax invoice means the tax invoice referred to in section 31 of CGST Act, 2017.
New tax rules increase salary thresholds for perquisite exemptions. Rules 3C and 3D change limits for tax-free perquisites and overseas medical expenses.
The Mumbai ITAT ruled that MLI provisions cannot be applied to deny treaty benefits under the India–Ireland DTAA without a specific notification under Section 90(1) of the Income Tax Act.
Key tax and compliance deadlines for September 2025, including TDS/TCS payments, GST returns, advance tax, PF/ESI deposits, and annual audit reports.
