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The CBDT notified key amendments to Form 3CD, effective April 2025, streamlining tax audit reporting requirements.
Zero-coupon bonds focused on infrastructure now enjoy special tax treatment, reinforcing capital flow into long-term projects.
A fresh clarification on the Principal Purpose Test (PPT) under select Indian DTAAs provides welcome certainty for cross-border transactions.
A pivotal ITAT ruling held that capital gains cannot be taxed in the hands of a non-beneficial owner, reinforcing the legal essence of beneficial ownership.
The High Court ruled against allegations of excessive benefit under Section 13(1)(c), reaffirming the importance of evidentiary support in charitable trust taxation.
Under GST, the GSTN announced that auto-populated values in Table 3.2 of GSTR-3B will be non-editable starting April 2025, aiming for better compliance consistency.
The government issued clarification on fake GST claims involving UPI payments exceeding ₹2,000, tightening scrutiny.
In judicial developments, High Courts denied relief in ITC mismatch cases and ordered fresh hearings where procedural lapses by the department were found.
The ICAI released an exposure draft of the Standards on Auditing tailored for LLPs, continuing its effort to formalize assurance standards across entity types.
SEBI revised margin collection timelines to align with the T+1 settlement cycle, while the RBI capped compounding amounts under FEMA at ₹2 lakh in specific cases to streamline enforcement.
Stay ahead of your deadlines with the included May 2025 compliance calendar.
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