In a significant move to modernize India’s tax framework, the Union Cabinet has approved the new Income Tax Bill 2025, set to replace the existing Income Tax Act of 1961. This initiative aims to ...

The Income Tax Department of India has introduced an innovative feature on its e-Filing portal called “Request for Order Giving Effect”. This new functionality allows taxpayers to submit requests ...

Assistant Commissioner (ST), holding that the absence of a signature is a fundamental defect that renders the order invalid.

It is advocated by the Government that 75% of the assessees have moved to the New Tax Regime, which is not out of love and ...

Summary: The eligibility of Input Tax Credit (ITC) on construction of immovable property under Sections 17(5)(c) and 17(5)(d) of the CGST Act, 2017 is a contentious issue. ITC is disallowed for goods ...

The ruling highlights the ongoing judicial scrutiny of reassessment proceedings under the amended Income Tax Act, 1961, particularly concerning the procedural and jurisdictional validity of notices ...

The court ruled that the reassessment notice was invalid, emphasizing that once an authority determines that reassessment is unnecessary, it cannot reverse its decision arbitrarily without a valid ...

In exercise of the powers conferred by section 295 read with clause (47) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules ...

Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 08/2025-Customs (N.T.) dated February 4, 2025, under the Customs Act, 1962. This notification appoints the Commissioner ...

The Reserve Bank of India (RBI) has reduced the policy repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points, bringing it down from 6.50% to 6.25%, effective immediately. This ...

The court emphasized that the distinction between international duty-free shops and domestic airport retail spaces is crucial under GST laws. Sales at duty-free shops in international terminals occur ...

Summary: The Madras High Court ruled that the Customs Department lacks jurisdiction to issue a show cause notice regarding the misclassification of SEIS (Service Exports from India Scheme) scrips ...