CBDT amends Income-tax Rules, 1962; introduces new ITR-2 form effective from 1st April 2025 via Notification No. 43/2025 dated 3rd May 2025.
Summary of key Income Tax, GST, Customs, SEBI, RBI & other regulatory notifications & circulars issued between April 21-27, 2025.
The e-way bill (EWB) mechanism is a pivotal element in the GST regime, designed to track the movement of goods and curb tax evasion. While it has simplified inter- and intra-state transport documentation, non-compliance—intentional or inadvertent—can attract hefty penalties, including up to 200% of tax payable under Section 129 of the CGST Act, 2017. Based […]
KSCAA urges CBDT to clarify the disallowance of Section 87A rebate on Short Term Capital Gains, citing taxpayer hardship and inconsistencies in tax processing.
CBIC sets grievance redressal process for GST registration rejections. Applicants can now email Zonal Chiefs to resolve ARN-based issues efficiently.
Karnataka State Chartered Accountants Association raises concern over delayed release of ITR forms for AY 2025-26, pressing CBDT for immediate action.
Learn essential GST reconciliation steps for annual accounts finalization. Ensure compliance, avoid penalties, and optimize ITC claims.
Orissa High Court cancels service tax demand on individual lawyer, citing exemption for legal services. Department may proceed on non-legal income, if applicable.
CBDT issues Notification 41/2025, effective April 1, 2025, substituting the ITR-3 form in Appendix II of the Income-tax Rules, 1962.
NPS Trust invites bids from empanelled CA Firms to audit benefit payments under the Unified Pension Scheme. Bids close on May 2, 2025.
