Conclusion: Assessee was entitled to the exemption under Section 10A as ex-post facto approval granted by the RBI, the ...

(4) On and from the 1st day of April, 2025, the power of the Settlement Commission under this section shall be exercised by the Interim Board and the provisions of this section shall mutatis mutandis ...

The Delhi High Court found that the reassessment notice under Section 148 issued for the assessment year 2016-17 was indeed time-barred, as the prescribed limitation period had expired on 31.03.2023.

Finance Bill 2025 proposes removing the deadline for the notification of faceless schemes under sections 92CA, 144C, 253, and 255 of the Income-tax Act. Originally, these provisions required the ...

Finance Bill 2025 introduces an amendment to Section 23 of the Income-tax Act to simplify the determination of the annual value of self-occupied properties. Currently, under sub-section (2), if a ...

3. In view of the same, it is proposed to amend the sub-section (4) of section 270AA of the Act so as to extend the processing period to three months from the end of the month in which application for ...

Taxpayers can opt for this multi-year application by submitting a prescribed form within a specified timeframe. The Transfer Pricing Officer (TPO) will validate this option within one month. If ...

The Finance Bill, 2025, introduces significant changes to penalty provisions under the Income Tax Act. Sections 271C, 271CA, 271D, 271DA, 271DB, and 271E will now allow penalties to be imposed by the ...

The GST Act prescribes specific time limits within which orders for raising demands under Sections 73 and 74 must be issued. Additionally, the Act allows the issuance of orders under various other ...

Finance Bill 2025 proposes removing Sections 206AB and 206CCA of the Income-tax Act, which currently mandate higher tax deduction (TDS) and tax collection (TCS) rates for non-filers of income tax ...

Sub-section (7A) of section 206C of the Act provides that no order shall be made deeming a person to be an assessee in default for failure to collect the whole or any part of the tax from any person, ...

Finance Bill 2025 introduces new provisions under Section 285BAA of the Income-tax Act, mandating the furnishing of information about crypto-asset transactions. The bill requires reporting entities to ...