FAQs on Notification No. 38/2025 [F. No 370142/11/2025-TPL] / SO 1838(E) Q1. What is section 37 of the Income-tax Act, 1961 (‘the Act’)? Ans. Section 37 of the Act provides for allowability of expenditure laid out or expended wholly and exclusively for the purpose of business or profession. Q2. What is Explanation 1 of sub-section… Read More »
CBDT releases FAQs on Notification No. 36/2025 [F. No. 370142/11/2025-TPL] / SO 1825(E FAQ Q.1 What changes were brought in section 206C(1F) of the Income Tax Act, 1961 through Finance (No. 2) Act, 2024? Ans. Earlier, Section 206C(1F) provided for collection of tax at source (TCS) on sale of motor vehicle of value exceeding ten… Read More »
ITR FILING AY 2025-26 ! NEW CHANGE ! MANDATORY FOR EVERY PERSON SELLING PROPERTY INDIA ! INCOME TAX
GSTAT FORM 04 Memorandum of appearance before GST Appellate Tribunal GSTAT FORM-04 (see rule 72) Memorandum of appearance To The Registrar, The Goods and Services Tax Appellate Tribunal In the matter of …………. Petitioner. Vs. ………………..Respondent (Appeal No. ………of 20………) Sir, Please take notice that I, …….., authorised representative/ practising Chartered Accountant/practising Cost Accountant/ legal… Read More »
Goods and Services Tax Appellate Tribunal (Procedure) Rules, 2025 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 24th April, 2025 **G.S.R. 256(E).—**In exercise of the powers conferred by section 111 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Goods and Services Tax Appellate Tribunal hereby makes the following… Read More »
As held by the Apex Court, human errors and mistakes are normal, and errors are also made by the Revenue. The right to correct mistakes in the nature of clerical or arithmetical error is a right that flows from the right to do business and should not be denied unless there is a good justification… Read More »
MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 23rd April, 2025 (INCOME-TAX) S.O. 1838(E).—In exercise of the powers conferred by clause (iv) of Explanation 3 of sub-section (1) of section 37 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that any expenditure incurred… Read More »
MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 22nd April, 2025. (INCOME-TAX) S.O. 1825(E).—In exercise of the powers conferred by clause (ii) of sub-section (1F) of section 206C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following goods of the value exceeding… Read More »
NEW LIST OF TCS FORM 27EQ AMENDED I MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 22nd April, 2025 G.S.R. 252(E).––In exercise of the powers conferred by section 295 read with section 206C of the Incometax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby… Read More »
SUPREME COURT OF INDIA Correspondence, RBANMS Educational Institution v. Gunashekar J.B. PARDIWALA and R. Mahadevan, JJ. CIVIL APPEAL NO. 5200 OF 2025 APRIL 16, 2025 JUDGMENT Mahadevan, J.-Leave granted. The present appeal challenges the order dated 02.06.2022 passed by the High Court of Karnataka at Bengaluru1in Civil Revision Petition No.130 of 2021, whereby the High Court… Read More »