Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
The GoI's MoF through CBDT issued Income-tax (twelfth Amendment) Rules, 2025, effective 1st April 2025, amending Income-tax Rules, 1962. Key modifications include updating Rule 12 and Rule 11B, specifically revising income tax return forms ITR-1 and ITR-4. The amendments introduce new provisions for filing returns, particularly for individuals and Hindu undivided families, with specific conditions for reporting capital gains under section 112A and business income computed under sections 44AD, 44ADA, and 44AE. The changes aim to streamline tax return filing processes and provide clarity on reporting requirements for specific income categories. The notification ensures no adverse impact on taxpayers and facilitates more precise income tax documentation.
The GoI's MoF through CBDT issued Income-tax (twelfth Amendment) Rules, 2025, effective 1st April 2025, amending Income-tax Rules, 1962. Key modifications include updating Rule 12 and Rule 11B, specifically revising income tax return forms ITR-1 and ITR-4. The amendments introduce new provisions for filing returns, particularly for individuals and Hindu undivided families, with specific conditions for reporting capital gains under section 112A and business income computed under sections 44AD, 44ADA, and 44AE. The changes aim to streamline tax return filing processes and provide clarity on reporting requirements for specific income categories. The notification ensures no adverse impact on taxpayers and facilitates more precise income tax documentation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
