IMPORTANT INCOME TAX CASE LAWS 23.09.25 SECTION CASE LAW / CIRCULAR TITLE Brief Summary CITATION RELEVANT ACT Interest Waiver CBDT waives interest on demand for disallowance of Sec. 87A rebate The CBDT has waived interest u/s 220(2) on tax demands arising from the incorrect allowance of the Sec. 87A rebate, provided the demand is… Read More »
FAOs on Tax Treatment under UPS Q.1 What is the tax treatment for the contributions made by the Central Government to the Individual corpus of the subscribers under the Unified Pension Scheme (UPS)? Ans: The Central government contributes 10% of monthly emoluments (Basic Pay + Dearness Allowance) of the employees to the individual corpus. This… Read More »
Advisory: New Changes in Invoice Management System (IMS) Sep 23rd, 2025 This is to bring to your notice that several new changes have been introduced in the Invoice Management System (IMS) to simplify the taxation system and reduce the compliance burden on the taxpayers. The following are the key updates Pending action for specified records: Taxpayers… Read More »
Ministry of Finance DFS releases detailed FAQs on the tax treatment under UPS; NPS Tax Benefits applicable to UPS Posted On: 23 SEP 2025 8:05PM by PIB Delhi The Unified Pension Scheme (UPS) was notified by the Ministry of Finance, Government of India, vide Notification No. F. No. FX-1/3/2024-PR dated 24.01.2025. The scheme is applicable… Read More »