A. Amendment
Notification no. 40/2025 dated 29.04.2025- Income tax
Central Board of Direct Taxes (CBDT) issued notification no. 40/2025 dated 29.04.2025 to make following rules to amend the Income-tax Rules, 1962
Notification no. 41/2025 dated 30.04.2025- Income tax
Central Board of Direct Taxes (CBDT) issued notification no. 41/2025 dated 30.04.2025 to prescribe ITR-3
Notification no. 42/2025 dated 01.05.2025- Income tax
Central Board of Direct Taxes (CBDT) issued notification no. 42/2025 dated 01.05.2025 to further amend the Income-tax Rules, 1962 to prescribe ITR 5
Notification no. 43/2025 dated 03.05.2025- Income tax
Central Board of Direct Taxes (CBDT) issued notification no. 43/2025 dated 03.05.2025 to further amend the Income-tax Rules, 1962, to prescribe ITR-2
Appeal before GSTAT – A Compendium
CS. Dr. M. Govindarajan presenting the compendium of appeal before GST Appellate Tribunal
We shall be enhancing services on the GST portal on 6th May’25 12:00 AM onwards. GST Portal services will not be available until 6th May’25 06:00 AM.
Handbook on Exempted Supplies under GST
The Institute of Chartered Accountants of India, New Delhi published 4th edition on April, 2025.
The Institute of Chartered Accountants of India (ICAI) published GST Act and Rules the 10th Edition on April, 2025. Updated upto the Finance Act, 2025.
Feedback on draft regulations and directions on export and import under FEMA
Bombay Chartered Accountants’ Society written to The Chief General Manager, Foreign Exchange department, Trade division, Mumbai about the feedback on draft regulations and directions on export and import under FEMA with reference to press release dated April 04th 2025.
B. Tax in Media
Delhi CM calls for faceless GST system, seeks resolution of Rs 80K cr dues
Delhi Chief Minister Rekha Gupta on Saturday stressed on making the GST system “faceless” and transparent, while highlighting that Rs 80,000 crore of GST dues of the Delhi government are pending due to disputes and other reasons.
Soon, Delhi traders to get one-time GST amnesty scheme, says CM
Chief minister Rekha Gupta on Friday said the Delhi government will soon introduce a one-time Goods and Services Tax (GST) amnesty scheme which will provide relief to traders from pending dues .
GST collections hit record high of Rs 2.37 lakh crore in April
GST collections soared to a record high in April, reaching Rs 2.37 lakh crore, according to official data released on Wednesday.
Britannia gets over ₹25cr tax demand
Britannia Industries on Thursday said it has received an order from the GST authority demanding over Rs.25 crore pertaining to classification of a product sold by it and input tax credit in respect of certain goods.
Gifting dollars to NRI kids? RBI’s 180-day rule could trip wealthy Indians
In recent years, wealthy Indian families have increasingly looked at gifting offshore funds to their children settled abroad—for education, property purchases, or even investor immigration programs like the EB-5 visa in the U.S.
The Central Board of Direct Taxes (CBDT) notified the Income Tax Return form-2, or ITR-2, for FY2024-2025 on May 5, 2025. ITR 2 is relevant for the majority of taxpayers, especially salaried employees and pensioners. The form will be effective retrospectively from April 1, 2025, i.e., since the beginning of the current financial year.
ITR Filing 2025: What’s new in your Form 16? Here’s all you need to know
The new financial year has already started on April 1 and if you are getting ready to file your Income Tax Return (ITR) for the year gone by, there’s something important you need to know. The Income Tax Department is expected to soon release the updated filing forms for the financial year 2024-25, or Assessment Year 2025-26.
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