Latest update 29.05.2025
A. Amendment
Circular No. 06/2025 dated 27.05.2025
CBDT issued Circular No. 06/2025 dated 27.05.2025 regarding Extension of due date for furnishing return of income for the Assessment Year 2025-26.
B. Article
by CA Bimal Jain
The Hon’ble Jammu & Kashmir and Ladakh High Court at Jammu held that the rejection of a partial refund claim under the Budgetary Support Scheme without assigning any reason was unjustified.
DAY 10 | SEARCH → SEIZURE →ARREST → CONFISCATION & REDEMPTION FINE
by CA Navjot Singh
Day-10 of 30-Day Series on the Customs Act 1962 and FTP 2023 by CA Navjot Singh.
C. Tax in media
CII seeks early GST rate rationalisation in meeting with FM
Ahead of the goods and services tax (GST) council meeting, industry body CII on Tuesday sought early conclusion of the rate rationalisation process in a meeting with finance minister Nirmala Sitharaman, sources said.
Finance Minister to meet India Inc for GST 2.0 reforms today, amid push for tax simplification
The government is accelerating efforts to overhaul the GST regime as part of the proposed GST 2.0 reforms, with Finance Minister scheduled to meet representatives from India Inc on May 27, two government sources said.
Extension of due date for filing income tax return for the Assessment Year 2025-26
CBDT, in exercise of its powers under Section 119 of the Income-tax Act, 1961, has extended the due date of furnishing of Return of Income under sub-section (1) of section 139 of the Act for the Assessment Year 2025-26
CBDT gears up for new Income Tax Bill implementation, plans workforce training
Ahead of the passage of the new Income Tax Bill, the Central Board of Direct Taxes (CBDT) has set in motion a detailed implementation program. According to the action plan for fiscal year 2025-26, the board aims to train at least half of its workforce by the end of March.
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