Notification No. 49/2025 updates Income Tax Rules with extended ITR-U filing time to 48 months. Additional tax rates apply for delayed filings under new amendments effective 19th May 2025.
India’s Ministry of Commerce amends Schedule-II (Export Policy), ITC (HS) 2022, to align with the Finance Act, 2025. This notification details immediate changes to export codes and notes.
Import policy for gold, silver, and platinum revised under Chapter 71 of ITC (HS) codes in line with Finance Act 2025. New rules apply immediately.
IBBI revises CIRP form submission rules for insolvency professionals, with timelines, electronic filing, penalties, and compliance actions effective June 2025.
IBBI amends rules for insolvency process of personal guarantors to corporate debtors; new regulation on non-submission of repayment plans added.
India restricts import of selected Bangladeshi goods to specific ports. New rules affect garments, food, plastics, and more, effective 17 May 2025.
RBI issues $700M Line of Credit via Exim Bank to Mongolia for a crude oil refinery project; Indian exports eligible under Foreign Trade Policy.
CBDT specifies Indian Railway Finance Corporation Ltd.’s Ten Year Zero Coupon Bond under Income-tax Act Section 2(48), detailing features and March 2027 issue deadline.
CBDT grants tax exemption to Telangana Pollution Board for specific incomes from FY 2021-22 to 2025-26, with conditions on activities and income type.
CBDT issues Income-tax (18th Amendment) Rules, 2025, substituting Form ITR-7. New form effective from April 1, 2025, under section 139 of Income-tax Act.
