A. Amedment
DGFT-Public Notice No. 02/2025-26 dated 15.04.2025
DGFT issued Public Notice No. 02/2025-26 dated 15.04.2025 regarding Amendment in Appendix 2K (Scale of User Charges and Process for Deposit/ Refund of Application Fee/Penalty, etc) of FTP 2023
DGFT Notif. 4/2025-26 dt 15.04.2025
DGFT issued Notification No. 4/2025-26 dated 15.04.2025 regarding Amendment in Import Policy Condition No.07 (i) of Chapter – 27 of Schedule-I (Import Policy) of ITC (HS), 2022
Form 3CEFC – Application for opting for safe harbour for income
Form 3CEFC (Application for opting for safe harbour for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head “Profits and gains of business or profession”) is now available for filing on the e-filing portal.
B. Tax in Media
GST on apartment maintenance: What the ₹7,500 threshold means for housing societies
Housing societies are required to pay Goods and Services Tax (GST) on the entire monthly maintenance amount if the contribution from each member exceeds ₹7,500, the Central Board of Indirect Taxes and Customs (CBIC) has clarified in a recent circular.
Jaipur Resort Files FIR Against OYO for Alleged GST Fraud Over Fake Bookings
A resort in Jaipur has filed an FIR against the travel booking platform OYO, alleging that GST notices worth crores were issued due to “incorrect” information provided by OYO, Indian Express reported.
GST heat on restaurants over packaging charges amid new rate speculation for food apps
GST department has reportedly sent summons to several restaurants over levy paid on ‘packaging charges,’ an Economic Times report said on Monday.
India seeing ‘very good progress’ on trade talks with US: Report
There has been “very good progress” in the trade talks with the US and India has decided to pursue a path of trade liberalisation with the United States, Commerce Secretary Sunil Barthwal said on Tuesday.
Costao Fernandes, ex-customs officer who took on Goa’s biggest smuggler
Actor Nawazuddin Siddiqui’s next film is titled ‘Costao’. The project, which is touted to be a high-octane crime drama, is inspired by the “life of Maverick custom officer who took on Goa’s biggest smuggler.”
ITR Filing AY2025-26: In how many days will the tax refund come if you file return in April?
The new financial year has started and now taxpayers want to know when they can file their Income Tax Return (ITR) for the assessment year 2025-26. However, for this, first the Income Tax Department will have to notify the ITR forms for the current assessment year.
Union Minister HD Kumaraswamy slams Karnataka governement for high taxes, defends Centre
Union Minister and JD(S) state president HD Kumaraswamy on Saturday accused the Karnataka state government of “burdening the common man” through excessive taxation.
The Income Tax Department has sent emails to taxpayers informing them that since their income tax return (ITR) has been pending for assessment/ re-assessment, their tax refund amount will be withheld till the time the tax officer makes a detailed analysis of it.
Major relief for homeowners: ITAT rules redeveloped flats not taxable as ‘other income’
In a big relief to homeowners in Mumbai and other cities whose projects are undergoing redevelopment, the state Income Tax Appellate Tribunal (ITAT) has held that the cost of a new flat provided to a homeowner during a redevelopment project ought to be exempted from tax as ‘Income from Other Sources’ under Section 56(2)(x) of the Income Tax Act.
India’s super rich are hiding their income, pay less tax than you think
An analysis based on Lok Sabha election candidates’ affidavits, the Forbes’ rich list and income-tax data shows that the rich in India report significantly lower incomes relative to their wealth.
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