Income Tax Bill 2025 passed by Lok Sabha. CBDT issues Supplementary FAQs . CBDT issues Supplementary FAQs on Income Tax Bill 2025 The Lok Sabha on 25th March 2025 passed the Income Tax Bill 2025 with amendments.  FAQ.1: Amendment of Section 9A of the Income-tax Act, 1961 Q.1. …

CBDT notifies amendments in Income Tax Rules 1962 to expand the scope of Safe Harbour Rules Section 92BC of the Income Tax Act 1961 inter alia empowers the CBDT to make safe harbour rules for the determination of arm’s length price under section 92C or section 92CA. The …

Reassessment quashed as the alleged transaction were clearly mentioned, reflected and contained in the Income Tax Returns filed by the assessee. In a recent judgment, Hon’ble High Court of Karnataka quashed reassessment proceedings as the transactions referred to in notice u/s 148A(b) and order passed u/s 148A(d) were …

EPFO invites RFP for appointment of CA Firm for FY 2024-25 for preparation of Annual Financial Statements and automation. EPFO has invited Request for Proposals (RFP) for appointment of Chartered Accountant Firm for FY 2024-25 as Consultant for Preparation of Annual Financial Statements of Employees’ Provident Fund Organisation …

Penalty order quashed as show cause notice and opportunity of personal hearing was wrapped up in 48 hours In a recent judgment, Hon’ble High Court of Himanchal Pradesh quashed penalty order as the show cause notice and opportunity of personal hearing was wrapped up in 48 hours. ABCAUS …

Department can’t suo motu issue a new PAN when assesseee have a valid PAN under which returns are filed. In a recent judgment, the Hon’ble Patna High Court quashed re-assessment order as notices and the assessment order showed a new PAN number suo motu issued by the department …