Conclusion: Assessee was entitled to the exemption under Section 10A as ex-post facto approval granted by the RBI, the ...

The NPS Vatsalya Scheme, launched on September 18, 2024, allows parents or guardians to open National Pension Scheme (NPS) accounts for minors, ensuring savings and pension benefits until the child ...

The Finance Bill 2025 proposes the removal of Tax Collection at Source (TCS) under Section 206C(1H) of the Income-tax Act from April 1, 2025. Currently, sellers collecting payments exceeding ₹50 lakh ...

The Finance Bill 2025 proposes amendments to Section 206C of the Income-tax Act to clarify the definition of “forest produce” and revise the tax collected at source (TCS) rates. Currently, TCS at 2.5% ...

The GST Act prescribes specific time limits within which orders for raising demands under Sections 73 and 74 must be issued. Additionally, the Act allows the issuance of orders under various other ...

In case of an NRI property seller in India, the buyer is responsible for withholding a tax, known as TDS, before making payment for the property. Awareness of the TDS procedure will enable a smoother ...

Assessee was not liable to deduct TDS under section 194H as relationship between e-commerce platform and assessee was not of an agency but that of two independent parties on principal to principal ...

2. That in the facts and circumstances of the case and in law, the Respondent erred in concluding that the income in the form of deposit, lease premium, rent and interest, etc. is liable to tax in the ...

Be it noted, the Bench then notes in para 14 that, “Importantly, it must be noted that the case as of now, after the filing of chargesheet, survives only to the extent of allegations under Sections ...

The Finance Bill 2025 proposes extending the tonnage tax scheme to inland vessels, registered under the Inland Vessels Act, 2021, in an effort to boost India’s inland water transportation industry.

These amendments aim to eliminate ambiguity and ensure uniformity in calculating the limitation period for tax proceedings. Most of the changes will take effect from April 1, 2025, while some ...

Summary: The Union Budget 2025 proposes a rationalized customs tariff structure by removing seven tariff rates, leaving only eight, with minor reductions on select items. To support domestic ...