By: AdminFebruary 12, 2025Categories: CBDT Notification | Notification and Circular4 Min Read The Central Board of Direct Taxes (CBDT) has issued Notification No. 16/2025 on February 12, 2025. It grants…
CBDT Issues Guidance on Principal Purpose Test (PPT) Under India’s DTAAs
The Central Board of Direct Taxes (CBDT) has released Circular No. 01/2025 dated January 21, 2025, providing guidance on the application of the Principal Purpose Test (PPT) under India’s Double…
CBDT Amends Income-tax Rules to Define Presumptive Taxation Conditions for Non-Resident Cruise Ship Operators
By: AdminDate: January 22, 2025Categories: CBDT Notification, Press ReleaseReading Time: 4 Min Introduction: New Tax Regime for Cruise OperatorsThe Finance (No. 2) Act, 2024, introduced a presumptive taxation regime designed…
Budget 2025: Key Tax Reforms Proposed by Former CBDT Chair JB Mohapatra
By: AdminDate: January 22, 2025Categories: CBDT, NewsReading Time: 4 Min Introduction: Proposals for a More Efficient Tax SystemAs the Union Budget 2025 approaches, former CBDT Chair JB Mohapatra has outlined…
CBDT Notifies Income Tax Exemption for Central Silk Board, Bengaluru
By: AdminDate: December 25, 2024Category: CBDT Notification | Notification and CircularReading Time: 4 Minutes The Central Board of Direct Taxes (CBDT), through Notification No. 129 dated December 24, 2024, has…
Parliamentary Panel Report: One-Third Vacancies in CBDT and CBIC
A recent parliamentary panel report has uncovered a significant workforce shortage in two of India's premier tax authorities—the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect…
CBDT Notification: Tax Exemption for Asset Transfer Between NLCIL and NIRL
The Central Board of Direct Taxes (CBDT), via Notification No. 122/2024 dated November 27, 2024, has officially notified the tax exemption under Section 47(viiaf) of the Income-tax Act, 1961, for…
CBDT Recognizes SKAN Research Trust for Tax Benefits under Section 35
On November 25, 2024, the Central Board of Direct Taxes (CBDT) issued Notification No. 121/2024, officially designating the SKAN Research Trust, Bengaluru, as a Research Association for Scientific Research under…
Reporting Foreign Assets in ITR: Key Guidelines for Taxpayers
As of the 2024-25 assessment year, two lakh Income Tax Returns (ITRs) reporting foreign assets and income have been filed, highlighting the importance of accurate disclosure. To ensure compliance with…
CBDT’s Compliance-Cum-Awareness Campaign: A Step Toward Enhanced Transparency
The Central Board of Direct Taxes (CBDT) has launched a Compliance-Cum-Awareness Campaign for Assessment Year 2024-25. This initiative aims to ensure the accurate reporting of foreign income and assets in…