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...
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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