Streamlining International Tax Dispute Resolution: CBDT’s New Rules for MAP and Appeals New CBDT Directive Issued The Central Board of Direct Taxes (CBDT), Ministry of Finance, has issued an Office Memorandum (OM) dated November 27, 2025. This OM was created to standardize and clarify the process for implementing outcomes reached under the Mutual Agreement Procedure… Read More »
Buying Land: How to Avoid a Income Tax Notice Buying a plot of land is a major financial milestone, but it can quickly turn into a tax nightmare if the transaction attracts scrutiny from the Income Tax Department. Tax notices are often triggered when there is a mismatch between the declared funds used for… Read More »
How to make tds payment on purchase of property The specific challan-cum-statement used to deposit TDS on property purchase under Section 194-IA is Form 26QB. Procedure for TDS Payment on Property (Form 26QB) This process is mandatory when the sale consideration or stamp duty value is ₹50 Lakh or more. 1. Preparation and Deduction… Read More »
Agricultural Income Accepted; Addition u/s 68 Deleted as AO Failed to Rebut Affidavits Issue Whether the Assessing Officer (AO) can treat a portion of declared agricultural income as unexplained cash credit under Section 68 based on estimates from a Verification Unit and general internet rates, while ignoring specific affidavits and evidence furnished by the assessee… Read More »
No Coercive Action if Accused Cooperates in Fake ITC Probe (Harsh Wadhwani & Anr. v. Additional Director General, DGGI) Issue: Whether GST enforcement authorities can take coercive action (such as blocking the Electronic Credit Ledger (ECrL) or initiating arrest proceedings) against a taxpayer accused of claiming fake Input Tax Credit (ITC) if the accused demonstrates… Read More »
GST Registration Cancellation Impermissible When Tax Liability is Discharged Issue: Whether the Goods and Services Tax (GST) registration of a taxpayer can be legitimately canceled by the authorities solely on the ground of non-filing of GST returns under Section 29(2)(c) of the CGST Act, even when the taxpayer has already discharged the entire tax… Read More »
Notification u/s 10(46) of the Income Tax Act, 1961 in the case of State Pollution Control Board, Odisha MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 26th November, 2025 S.O. 5440(E).— In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961… Read More »
Notification u/s 10(46A) of the Income Tax Act, 1961 in the case of Odisha Real Estate Regulatory Authority MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 26th November, 2025 S.O. 5441(E).—In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the Income-tax… Read More »
Notification u/s 10(46) of the Income Tax Act 1961 in the case of Haryana State Board of Technical Education (HSBTE) Panchkula MINISTRY OF FINANCE Department of Revenue (Central Board of Direct Taxes) NOTIFICATION New Delhi, the 26th November, 2025 S.O. 5442(E).— In exercise of the powers conferred by clause (46) of section 10 of the… Read More »
CBDT launches 2nd NUDGE initiative to strengthen voluntary compliance in respect of Foreign Assets Under the 2nd NUDGE initiative, CBDT will send SMSs and emails from 28th November 2025 to identified taxpayers with advice to voluntarily review and revise their returns on or before 31st December 2025 to avoid penal consequences Posted On: 27 NOV… Read More »