Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The Finance Bill, 2025 proposes several amendments to the Income-tax Act, 1961, including modifications to Section 9A to remove indirect participation requirements for eligible investment funds, restoring the Central Government's power to modify conditions under Section 9A(8A), and clarifying Section 44BBD's presumptive taxation scheme for non-residents. Additional amendments include replacing "IFSC insurance intermediary" with "IFSC insurance offices" in Section 10(10D), expanding the definition of "resultant fund" to include Retail Schemes and ETFs, extending tax exemptions under Section 10(4E) to OTC derivatives, and broadening the definition of "capital asset" to include securities held by Category I and II AIFs. Chapter XIV-B has been revised to focus on assessing undisclosed income rather than total income in search cases.
The Finance Bill, 2025 proposes several amendments to the Income-tax Act, 1961, including modifications to Section 9A to remove indirect participation requirements for eligible investment funds, restoring the Central Government's power to modify conditions under Section 9A(8A), and clarifying Section 44BBD's presumptive taxation scheme for non-residents. Additional amendments include replacing "IFSC insurance intermediary" with "IFSC insurance offices" in Section 10(10D), expanding the definition of "resultant fund" to include Retail Schemes and ETFs, extending tax exemptions under Section 10(4E) to OTC derivatives, and broadening the definition of "capital asset" to include securities held by Category I and II AIFs. Chapter XIV-B has been revised to focus on assessing undisclosed income rather than total income in search cases.
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