Tax Flash News

    Tax laws in India are subject to interpretation by judicial authorities, and changes by way of amendments to the statute
    Endless Rows of Files in an Archive

    April 2025

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    Ten goods notified to be liable to tax collection at source

    Notification no. 36/2025 dated 22 April 2025

    04/24/2025

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    Mutual fund units not equivalent to company shares for capital gains taxation under tax treaty

    Anushka Sanjay Shah v. ITO (ITA No. 174/Mum/2025)

    04/21/2025

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    Surcharge on private discretionary trusts follows slab-based rates, not the highest rate

    Araadhya Jain Trust v. ITO (ITA No. 4272/Mum/2024)

    04/14/2025

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    Acquisition of shares at below FMV not taxable as Other Income when held as stock-in-trade

    Utility Supply Private Ltd v. DCIT (ITA No. 3585/M/2024)

    04/14/2025

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    Capital gains taxable on transfer of undervalued leasehold rights in land based on stamp duty value

    Vidarbha Veneera Industries Ltd (In Liquidation) v. ITO (ITA No. 34 of 2022)

    04/14/2025

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    India Tax Konnect - March 2025

    ESM Group Inc. v. DCIT (ITA No. 9365/Del/2019)

    01/01/2025

    March 2025

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    Revision to the direct tax amendments proposed by the Union Budget 2025

    KPMG Flash News on India Union Budget 2025-26

    03/26/2025

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    Rights entitlements are not akin to shares

    Vanguard Emerging Markets Stock Index Fund A Series of VISPLC v. ACIT (ITA No. 4657/Mum/2023)

    03/20/2025

    February 2025

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    The Income-tax Bill, 2025, tabled in the Parliament

    While the 1961 Act has sections numbered till 298, it contains a lot of alpha-numerical provisions, for instance Section 115A 115WM. Hence, the total individual section count is more than 800 in order to do a like-to-like comparison with the Bill

    02/13/2025

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    India Union Budget 2025-26

    Economic survey 2024-25, Ministry of Finance, Accessed on 31 January 2025

    02/02/2025

    January 2025

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    Grandfathered (exempt) capital gains need not be set off against non-grandfathered losses

    After setting off a part of losses with the current year's taxable gains

    01/28/2025

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    SNRR account can be opened with authorised dealers in India or its branches outside India

    Notification No. FEMA 5(R)(5)/2025-RB. issued by RESERVE BANK OF INDIA (Foreign Exchange Department) on 14 January 2025

    01/21/2025

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    Exporters permitted to open and hold a Foreign Currency Account with a bank outside India

    Notification No. FEMA 10(R)(5)/2025-RB) issued by RESERVE BANK OF INDIA (Foreign Exchange Depar on 14 January 2025

    01/21/2025

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    Capital reduction results in transfer of a capital asset

    PCIT v. Jupiter Capital Pvt Ltd (SLP No. 63 of 2025)

    01/13/2025

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