Registration deadline extension for charitable trusts allows surrender of provisional registration and fresh electronic filings under exemption rules.
The tax authority extended the due date for filing Form 10A and Form 10AB to allow trusts, institutions and funds to apply for registration or re-registration under tax exemption provisions; entities with provisional registration may surrender Form 10AC and apply as existing entities, and applicants previously rejected solely for late filing or wrong section code may submit fresh Form 10AB applications. All filings must be made electronically through the e-filing portal.

Direct tax collections exceed budget and revised estimates, driven by corporate and personal income tax growth.
Provisional net direct tax collections for FY 2023-24 exceed the Union Budget and slightly exceed the Revised Estimates, reflecting significant year on year growth driven by both corporate and personal income tax receipts; gross collections also rose while refunds increased relative to the prior year, reducing net realisation.

Advance Pricing Agreements provide transfer pricing certainty, expanding bilateral coverage and rollback protection to taxpayers.
The APA framework specifies transfer pricing methods and fixes the arm's length price for international transactions prospectively for up to five years, with an optional rollback covering four preceding years to provide extended tax certainty. Bilateral APAs, concluded via Mutual Agreement Procedure with treaty partners, additionally afford protection against anticipated or actual double taxation and enhance cross border cooperation to reduce transfer pricing disputes.

Reopening of tax assessments clarified: no large-scale re-openings; data checks limited to HRA mismatch and taxpayer alerts.
No special drive to re open HRA cases; targeted e verification identified limited high value mismatches between rent claimed and rent received for the specified fiscal year, prompting taxpayer alerts to enable corrective action rather than large scale reassessments, with taxpayers having had the option to file Updated Returns until the stated deadline.

ITR filing access expanded: common return forms now available on the e filing portal to streamline taxpayer compliance.
The Central Board of Direct Taxes has enabled immediate electronic filing of commonly used income tax returns-ITR 1, ITR 2, ITR 4 and the company return-on the e filing portal from the start of the new financial year and has published JSON Schemas for those returns and Tax Audit Reports to assist e Return Intermediaries.

Income tax return filing enabled online/offline with prefilled data; prescribed audit-report forms accompany tax-audit compliance.
Income-tax return filing for AY 2024-25 is enabled online with prefilled data and via a common offline utility for ITR-1, ITR-2 and ITR-4. The notification identifies Form 3CA-3CD and Form 3CB-3CD as the prescribed audit-reporting instruments, each to be furnished with the Statement of Particulars required under section 44AB of the Income-tax Act, 1961, thereby setting the filing modes and audit-reporting requirements.