Month: May 2025
Govt. notifies Credit Guarantee Scheme for Startups (CGSS) The Central Government has approved the ‘Credit Guarantee Scheme for Startups (CGSS)’ for the purpose of providing credit guarantees to loans extended by Member Institutions (MI) to finance eligible borrowers being Startups. The Scheme has come into force from 08.05.2025 …
Changes in the GST refund filing process under the category on account of Refund by Recipient of deemed export. GSTN has made the following changes in the refund filing process under the category “On account of Refund by Recipient of deemed export”: 1. Refund applications under this category is …
The Companies (Indian Accounting Standards) Amendment Rules, 2025 – Non-exchangeable currency and disclosure requirement Ministry of Corporate Affairs has notified the Companies (Indian Accounting Standards) Amendment Rules, 2025 The Companies (Indian Accounting Standards) Amendment Rules, 2025, notified by the Ministry of Corporate Affairs on May 8, 2025 has …
CIT(A) gave very short time to the assessee to furnish the details and prima-facie it showed that fair opportunity of hearing was not given to the assessee. In a recent judgment, The ITAT Pune remitted the case for re-consideration observing that that CIT(A) gave very short time to …
CBDT notifies format of ITR-V and Income Tax Return Acknowledgement for AY 2025-26 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 45/2025 New Delhi, the 7th May, 2025 G.S.R. 294(E).— In exercise of the powers conferred by section 139 read with section 295 …
The Competition Commission of India (Determination of Cost of Production) Regulations, 2025. The Competition Commission of India has notified the Competition Commission of India (Determination of Cost of Production) Regulations, 2025. These Regulations aim to modernize the framework for assessing predatory pricing under the Competition Act, 2002, replacing …
CBDT notifies format of ITR-6 for AY 2025-26. Download PDF Form ITR-6 CBDT has notified format of ITR-6 for AY 2025-26. Download PDF Form ITR-6. The major changes in the ITR-6 for AY 2025-26 as compared to ITR-7 for AY 2024-25 are as under: 1. Schedule Capital Gain …
NCLAT do not have power to condone the delay beyond the prescribed and condonable period under the IBC – Supreme Court In a recent judgment, Hon’ble Supreme Court held that under IBC 2016 once the prescribed and condonable periods (i.e., 30 + 15 days grace) expire, the NCLAT …
GST show cause and order in Statutory Forms DRC-01 and DRC-07 without any digital or physical signature are a nullity In a recent judgment, High Court has held that GST show cause and order in Statutory Forms DRC-01 and DRC-07 without any digital or physical signature are a …
ITAT restored the application for approval u/s 80G observing that CIT(E) did not discuss the objects and activities carried-out by the trust In a recent judgment, ITAT Hyderabad observing that CIT(E) did not discuss the objects and activities carried-out by the trust which showed that he dismissed the …
