SEBI seeks public comments on the draft circular requiring a digital assurance report on financial statements based on external data repositories.
The Finance Bill 2025 proposes simplifying the annual value determination of self-occupied property, effective from April 2025, for assessment year 2025-26.
The Finance Bill 2025 proposes mandatory reporting of crypto-asset transactions, effective from April 2026, with penalties for inaccuracies.
Proposed changes to Section 276BB offer exemption from prosecution for delayed TCS payment if made before the filing deadline, effective from April 2025.
Proposed amendment removes the deadline for notifying faceless schemes under the Income-tax Act, allowing notifications beyond March 31, 2025.
The exemption for SUUTI from income tax is extended to March 31, 2027, as per the Finance Bill 2025, addressing pending tasks and litigation.
New transfer pricing rules allow arm’s length price (ALP) determinations to apply for two consecutive years, reducing compliance burdens for taxpayers.
The Finance Bill 2025 proposes removing Sections 206AB & 206CCA, eliminating higher TDS/TCS rates for non-filers, reducing compliance burden from April 2025.
TCS on sales exceeding ₹50 lakh under Section 206C(1H) will be removed from April 1, 2025, reducing compliance burden for sellers. Learn more about the changes.
The Finance Bill 2025 amends Section 206C, defining “forest produce” and revising TCS rates. Timber and forest produce under lease will be taxed at 2% from April 1, 2025.
