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...
CBDT issued Notification No. 46/2025 amending Income-tax Rules, 1962, specifically substituting Form ITR-7 for Assessment Year 2025-26, effective retroactively from April 1, 2025. The amendment, authorized under sections 139 and 295 of Income-tax Act, 1961, introduces updated reporting requirements for tax filing. The notification was officially promulgated on May 9, 2025, by the Under Secretary of Tax Policy and Legislation, with an explanatory memorandum confirming no adverse impact on taxpayers from the retrospective application.
CBDT issued Notification No. 46/2025 amending Income-tax Rules, 1962, specifically substituting Form ITR-7 for Assessment Year 2025-26, effective retroactively from April 1, 2025. The amendment, authorized under sections 139 and 295 of Income-tax Act, 1961, introduces updated reporting requirements for tax filing. The notification was officially promulgated on May 9, 2025, by the Under Secretary of Tax Policy and Legislation, with an explanatory memorandum confirming no adverse impact on taxpayers from the retrospective application.
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