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Dear Reader,
Greetings for the day!!!
We are pleased to share the recent Tax notification and circulars.
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| Direct Tax |
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CBDT amended Income-tax Rules, 1962,w.e.f. 1st April 2025with key changes in Form ITR-7, including split capital gain reporting and allowance of buy back loss. |
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CBDT provides recognition to “Telangana State Pollution Control Board (PAN AAAGT0080Q)” for income exemption u/s 10(46) of the Act. |
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CBDT has specified "Ten-Year Zero-Coupon Bond of Indian Railway Finance Corporation Ltd" as a zero-coupon bond under section 2(48) of the Income-tax Act, 1961. |
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| Goods And Services Tax |
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Advisory: Table 3.2 of GSTR-3B Remains Editable
Dated: 16-05-2025
It was previously communicated through advisory that Table 3.2 would become non-editable starting from the April 2025 return period (to be filed in May 2025). Based on representations and concerns raised by taxpayers, the matter is currently under review.To ensure smooth filing of returns, it has now been decided that Table 3.2 will remain editable until further notice. A separate communication will be issued once the proposed changes are finalized and implemented on the GST Portal. |
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Advisory: Appeal Withdrawal for Waiver Scheme
Dated: 14-05-2025
To benefit from the Waiver scheme, ensure no appeal remains pending with the Appellate Authority. The appeal status must be "Appeal withdrawn” to fulfil this requirement. When filing or in the already filed application, remember to upload a screenshot of the appeal case folder clearly showing the status as “Appeal withdrawn". |
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We trust you will find this Journal informative as well as useful.
For any queries, you can write to us at info@akgvg.com.
Disclaimer: This insight is meant for informational purposes only and should not be considered as advice or opinion.
Best Regards!
Knowledge Updates Team
AKGVG & Associates (Chartered Accountants)
DELHI | GURGAON | MUMBAI | AHMEDABAD | BANGALORE | CHENNAI | CHANDIGARH | HYDERABAD
Website: https://www.akgvg.com |
