19 December 2025 at 07:02
Budget 2026 wishlist explained: fiscal consolidation without pain, middle-class tax relief, higher consumption, job creation, MSME support, infrastructure push and sustainable growth that impacts everyday life.
Guided by Article 265 of the Constitution and the Gujarat High Court ruling in Lt. Col. Nikhil Subodh Gajjar (2025), this analysis explains why the six-year limitation under CBDT Circular No. 9/2015 may not apply where no tax was legally payable, with implications for exempt incomes, trusts, and non-profit organisations.
Indian MP Raghav Chadha proposes a Tokenization Bill in Rajya Sabha to enable fractional ownership of real-world assets like real estate and IP using blockchain, aiming to democratize investments, boost liquidity and reduce fraud for retail investors.
18 December 2025 at 12:11
Missed the ITR due date for FY 2024-25? File your belated ITR by 31 December 2025 to avoid penalties, interest, loss of carry-forward benefits and compliance issues.
Acceptance of quantum additions does not automatically justify a penalty under Sections 271(1)(c) or 270A. Learn why AOs must clearly specify concealment, inaccurate particulars, under-reporting or misreporting, and how assessees can effectively contest penalties even after quantum proceedings attain finality.
Income Tax is sending bulk mails on ITR-AIS mismatches, even for genuine buys funded from savings, loans or gifts. Know why?
Got advance payment for services? Know whether it is taxable in year of receipt or when work is done.
An expert analysis of Section 269SS explaining why cash infusions by directors into closely held companies, driven by business exigency or survival needs, are not “loans or deposits” and do not attract penalty under Section 271D, supported by key judicial precedents.
Filing ITR only to claim inflated or wrong refunds can trigger Income Tax notices in 2025. Know how misuse of TDS refunds, AIS mismatches and excessive deductions lead to scrutiny, penalties and demands and how timely ITR revision can help avoid trouble.
Missed ITR due date? Know about late filing fees, interest and consequences such as no loss set-off for FY 2024-25.
CAclubindia
