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New Income Tax Bill          Finance Act, 2025 [+Budget] 

Highlights Highlights, Income Tax, GST, Import Eport and Corporate Laws

Government Revises Customs Duty Conditions for Imported Goods, Removes Specific Classification Requirement Under Section 515C
April 5, 2025   Notifications     Customs

PAN Card Holders Must Link Aadhaar by December 31, 2025, Under Section 139AA(2A) of Income Tax Act
April 5, 2025   Notifications     Income Tax

Mandatory Aadhaar Disclosure for PAN Holders Issued Before October 2024 Under New Rule 114(5AA)
April 5, 2025   Notifications     Income Tax

Export Entry Conversion Rules Allow One-Year Window with Potential Six-Month Extension Under Specific Compliance Conditions
April 5, 2025   Notifications     Customs

Exporters Get Streamlined Documentation Rules: Electronic Amendments, One-Year Conversion Window Under Section 149 Customs Act
April 5, 2025   Circulars     Customs

Taxpayers Can Leverage Section 128A Benefits for Tax Payments Made Before 1st November 2024 with Specific Compliance
April 5, 2025   Circulars     GST - States

Customs Extends Sea Cargo Manifest Electronic Filing Deadline to May 2025, Offering Penalty-Free Transition Period for Stakeholders
April 5, 2025   Circulars     Customs

Tax Dispute Resolved: Govt Authority Faces Penalties for Suppressed Service Tax Returns Under Notification 25/2012-ST
April 5, 2025   Case Laws     Service Tax

Service Tax Demand Invalidated: Form 26AS Alone Insufficient to Prove Taxable Service Provision Without Substantive Evidence
April 5, 2025   Case Laws     Service Tax

Overseas IT Services Exempted from Service Tax in Cross-Border Transaction Between Non-Indian Entities Under Section 66
April 5, 2025   Case Laws     Service Tax

High-Stakes Duty Drawback Investigation Upheld: Complex Probe Validated, Petitioner Granted 30-Day Reply Window Under Section 124
April 5, 2025   Case Laws     Customs

Infrastructure Development Tax Deduction Denied: Lack of Investment Risk and Entrepreneurial Commitment Invalidates Section 80IA Claim
April 5, 2025   Case Laws     Income Tax

No Reassessment Possible Without Concrete Evidence of Undisclosed Income Under Section 153C
April 5, 2025   Case Laws     Income Tax

Tribunal Validates Assessee's Tax Treatment, Rejects Revenue Department's Contentions Across Multiple Taxation Challenges
April 5, 2025   Case Laws     Income Tax

Assessee Successfully Challenges Section 271AA Penalty, Tribunal Finds Merit in Argument Over Record Valuation Discrepancies
April 5, 2025   Case Laws     Income Tax

Transfer Pricing Dispute Resolved: Tribunal Directs Rectification, Validates Comparable Company Analysis and Expense Reporting
April 5, 2025   Case Laws     Income Tax

Prior Period Expenses Must Be Recognized in Current Financial Year Calculations for Book Profit Determination Under MAT Section 115JA
April 5, 2025   Case Laws     Income Tax

Legitimate Business Investment Tax Deduction Upheld: Company Successfully Claimed Write-Off Aligned with Organizational Objectives
April 5, 2025   Case Laws     Income Tax

Tax Proceedings Suspended for Dissolved Company Under Section 147 Pending NCLT Resolution of Corporate Status
April 5, 2025   Case Laws     Income Tax

Tax Order Quashed: Procedural Defects Invalidate Summary Dismissal of Petitioner's Challenge Under Section 73(9)
April 5, 2025   Case Laws     GST

Legal Challenge to CGST Act Section 16(2)(c) Succeeds: Procedural Delay Condoned, Appeal Merits to Be Evaluated Fairly
April 5, 2025   Case Laws     GST

Accused Granted Bail in GST Evasion Case After Careful Review of Investigation Status and Potential Flight Risk
April 5, 2025   Case Laws     GST

Legal Challenge Upheld: Statutory Non-Compliance Invalidates Order When Demand Exceeds Show-Cause Notice Amount Under Section 75(7)
April 5, 2025   Case Laws     GST

Pharmaceutical Exporter Wins IGST Refund Claim, Court Orders Immediate Manual Processing Despite Technical Challenges
April 5, 2025   Case Laws     GST

Legal Recovery Rights Extended: Limitation Act Allows Period Extension When Liability Acknowledged Under Section 18
April 5, 2025   Case Laws     Indian Laws

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Curb tax evasion through Unexplained Credits (i.e. unaccounted money or fictitious entries in financial records) in Clause 102 of The Income Tax Bill, 20205 Vs. Section 68 of The Income Tax Act, 1961
Income Apportionment in AOPs and BOIs in Clause 309 of the Income Tax Bill, 2025 Vs. Section 67A of the Income Tax Act, 1961
Comprehensive Analysis of Total Income in Clause 101 of the Income Tax Bill, 2025 Vs. Section 66 of the Income Tax Act, 1961
Addresses the tax liability of individuals in respect of income that is included in the income of another person in Clause 100 of the Income Tax Bill, 2025 vs. Section 65 of the Income Tax Act, 1961
Prevent tax evasion through the diversion of income to family members "clubbing of income" in Clause 99 of the Income Tax Bill, 2025 vs. Section 64 of the Income Tax Act, 1961
Definitions for "transfer" and "revocable transfer" in Clause 98 of the Income Tax Bill, 2025 Vs. Section 63 of the Income Tax Act, 1961
The chargeability of income in the context of the transfer of assets with Exception in Clause 97 of Income Tax Bill, 2025 vs. section 61 & 62 of Income-tax Act, 1961
Prevention of tax avoidance strategies "transfer of income without a corresponding transfer of the asset" in Clause 96 of the Income Tax Bill, 2025 Vs. Section 60 of the Income-tax Act, 1961
Understanding the Tax Implications on benefits obtained from the remission or cessation of liabilities in Clause 95 of the Income Tax Bill, 2025 Vs. Section 59 of the Income-tax Act, 1961
Disallowing deductions of specific expenses in Clause 94 of Income Tax Bill, 2025 vs. Section 58 of Income Tax Act, 1961
Deductions available under "Income from other sources" in Clause 93 of Income Tax Bill, 2025 VS. Section 56 of Income Tax Act, 1961
Modernizing Tax Treatment of Income from other Sources in Clause 92 vs. Section 56 of the Income-tax Act, 1961
Enhancing Fair Market Valuation in Clause 91 of Income Tax Bill, 2025 vs. Section 55A of Income Tax Act, 1961
Interpretations of key terms related to capital gains "adjusted," "cost of improvement," and "cost of acquisition" in Clause 90 of Income Tax bill 2025 vs. Section 55 of Income Tax Act, 1961
Extension of Time for Reinvesting Capital Gain, original asset is compulsorily acquired, and compensation is delay Clause 89 of the Income Tax Bill, 2025 vs. Section 54H of the Income-tax Act, 1961
Capital gain Tax Relief in relocation of industrial undertakings from urban areas to SEZ area in Clause 88 of Income Tax Bill, 2025 vs. Section 54GA of Income Tax Act, 1961
Capital gain Tax Relief in relocation of industrial undertakings from urban areas to non-urban in Clause 87 of Income Tax Bill, 2025 vs. Section 54G of Income Tax Act, 1961
Encourage investment in residential property by offering tax exemption on capital gains in Clause 86 of the Income Tax Bill, 2025 vs. Section 54F of Income Tax Act, 1961
Treatment of capital gains arising on compulsory acquisition of lands and buildings in Clause 84 of the Income Tax Bill, 2025 vs. Section 54D of the Income Tax Act, 1961
Capital gain Exemption through Investment in the Certain Bonds in Clause 85 of Income Tax Bill, 2025 Vs. Section 54EC of Income Tax Act, 1961
Evaluating the 2025 Finance Bill: Key Changes and Their Impact
Supplementary FAQs for the Finance Bill, 2025: As passed by Lok Sabha
Capital Gains Tax Relief for Agricultural Land: Clause 83 of the Income Tax Bill, 2025 vs. Section 54B of the Income Tax Act, 1961
Capital Gains: Exemption against Residential Property Sales and Reinvestment Incentives in Clause 82 of the Income Tax Bill, 2025 vs. Section 54 of the Income Tax Act, 1961
Capital Gains Taxation: The Role of Advance Payments in Clause 81 of the Income Tax Bill, 2025 vs. Section 51 of the Income-tax Act, 1961

More Notes

Notifications Notifications

IT

- Central Government notifies that no deduction of tax shall be made on the payment under section 194EE of the IT Act 1961
April 4, 2025

Cus

- Amendment in Notification No. 50/2017-Customs, dated the 30th June, 2017 - Effective Rate of duty: Condition no. 9 for import of "All goods other than Interactive Flat Panel Display (IFPD)" removed.
April 4, 2025

IT

- Notifies that every person who has been allotted permanent account number on the basis of Enrolment ID of Aadhaar application form filed prior to the 1st day of October, 2024
April 3, 2025

IT

- Income-tax (ninth Amendment) Rules, 2025
April 3, 2025

Cus (NT)

- Export Entry (Post export conversion in relation to instrument based scheme) Regulations, 2025
April 3, 2025

Cus (NT)

- Corrigendum - Notification No. 18/2025- (N.T.), dated 28th March, 2025
April 2, 2025

FTP

- Inclusion of Land Custom Stations Darranga as Food Import Entry Points in List "A" of Appendix-V to Schedule-I (Import Policy), ITC (HS), 2022 in sync with relevant FSSAI Notification
April 2, 2025

FTP

- Amendment in import policy and policy condition of Roasted Areca Nuts falling under ITC (HS) Code 20081920 of Chapter-20 of ITC (HS), 2022, Schedule-I (Import Policy)
April 2, 2025

SEBI

- Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2025
April 1, 2025

FTP

- Supply of essential commodities to the Republic of Maldives during 2025-26
April 1, 2025

IT

- Exemption from specified income U/s 10(46) of IT Act 1961 - 'Karnataka Urban Water Supply & Drainage Board, Bangalore'
March 28, 2025

IT

- Income-tax (Eighth Amendment) Rules, 2025 - Tax Audit Report - Amends 3CD Statement of particulars required to be furnished under Section 44AB
March 28, 2025

Cus

- Seeks to amend Notification No. 25/2021-Customs, dated the 31st March, 2021 - Amends India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA)
March 28, 2025

Cus

- Seeks to amend Notification No. 22/2022-Customs, dated the 30th April, 2022 - Amends first tranche of India UAE CEPA
March 28, 2025

Cus (NT)

- Sea Cargo Manifest and Transshipment (Second Amendment) Regulations, 2025
March 28, 2025

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

SEBI

- Standardized format for System and Network audit report of Market Infrastructure Institutions(MIIs)
April 4, 2025

SEBI

- Recognition and operationalization of Past Risk and Return Verification Agency (PaRRVA)
April 4, 2025

Customs

- Applicability of SCOMET on Polyethylene Glycol CAS No. 25322-68-3
April 3, 2025

Customs

- Implementation of the Export Entry (Post export conversion in relation to instrument-based scheme) Regulations, 2025
April 3, 2025

DGFT

- Amendment in Appendix 4B of Handbook of Procedures, 2023
April 3, 2025

FEMA

- Limits for investment in debt and sale of Credit Default Swaps by Foreign Portfolio Investors (FPIs)
April 3, 2025

SEBI

- Relaxation of provision of advance fee restrictions in case of Investment Advisers and Research Analysts
April 2, 2025

SEBI

- Extension of timeline for formulation of implementation standards pertaining to SEBI Circular on “Safer participation of retail investors in Algorithmic trading”
April 1, 2025

SEBI

- Clarification on the position of Compliance Officer in terms of regulation 6 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
April 1, 2025

Customs

- Implementation of the Sea Cargo Manifest and Transhipment Regulations (SCMTR) -reg.
March 29, 2025

SEBI

- Intraday Monitoring of Position Limits for Index Derivatives
March 28, 2025

SEBI

- Extension of timelines for submission of offsite inspection data
March 28, 2025

SEBI

- Extension of timelines for submission of offsite inspection data
March 28, 2025

SEBI

- Amendment to Master Circular for Infrastructure Investment Trusts (InvITs) dated May 15, 2024
March 28, 2025

SEBI

- Amendment to Master Circular for Real Estate Investment Trusts (REITs) dated May 15, 2024
March 28, 2025

More Circulars

News News, PIB

ED claims FEMA contravention after raids against 'L2: Empuraan' producer Gopalan's chit fund firm
April 5, 2025


First International Research Conference on Pension (IRCP) 2025 concludes with the participation of global leaders, including World Bank and experts
April 5, 2025


Senate GOP approves framework for Trump's tax breaks, spending cuts after late-night session
April 5, 2025


Senate GOP approves framework for Trump's tax breaks, spending cuts after all-night session
April 5, 2025


Senate up late voting on GOP tax breaks, spending cuts plan that's central to Trump agenda
April 5, 2025


Regulation of Foreign Trade under Foreign Exchange Management Act (FEMA), 1999 – Draft Regulations and Directions
April 5, 2025


Empowering Indian Startups: Union Minister Shri Piyush Goyal Reaffirms Government’s Commitment at Startup Mahakumbh
April 5, 2025


All India Workshop of Trainers for the Comprehensive Modular Survey on Education
April 5, 2025


Conference of State Government Ministers on Strengthening of Statistical Systems to be held on 5th April, 2025 at Vigyan Bhawan, New Delhi
April 5, 2025


7 Years of Stand-Up India
April 5, 2025


Senate up late voting on GOP tax breaks and spending cuts plan that's central to Trump agenda
April 5, 2025


China slaps a 34 pc tax on all US imports in retaliation for Trump's tariffs
April 5, 2025


Senate takes up a budget plan crafted by Republicans to advance Trump's agenda
April 5, 2025


Federal Reserve chief says Trump tariffs likely to raise inflation and slow US economic growth
April 5, 2025


Senate takes up budget plan crafted by Republicans to advance Trump's agenda
April 5, 2025


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Service to humanity is Service to God

May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

- Swami Vivekananda, CW, 5:137

 

 

 

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