CAclubindia News
Income Tax Relaxation: 10 Year Registration for Trusts with Income Below Rs 5 Crore
05 February 2025 at 08:56Period of registration of smaller trusts or institutionsSection 12AB provides registration of trust or institution for a period of 5 years or provisional registration (where activities have not commenced at the time of filing application for registra
Trust Registration Rules Eased: Incomplete Applications Won't Trigger Cancellation from FY 2025
05 February 2025 at 08:56Rationalisation of 'specified violation' for cancellation of registration of trusts or institutions
ICAI Unveils Aggregation Guidelines 2024 for CA Firms to Enhance Professional Excellence
04 February 2025 at 13:26In a landmark move aimed at bolstering the operational efficiency and global competitiveness of CA firms in India, the Institute of Chartered Accountants of India (ICAI) has officially announced the ICAI (Aggregation of LLPs) Guidelines, 2024.
Tax Exemption for SUUTI Specified Undertaking to Last Until March 2027
04 February 2025 at 08:56Extension of exemption to Specified Undertaking of Unit Trust of India (SUUTI)
Updated ITR Filing Window Extended to 4 Years with Higher Penalties for Late Compliance
04 February 2025 at 08:56Extending the time-limit to file the updated returnSub-section (8A) of section 139 of the Act, relates to furnishing of updated return.
Processing Period for Immunity from Penalty & Prosecution Extended to 3 Months
04 February 2025 at 08:56Extending the processing period of application seeking immunity from penalty and prosecution
Faceless Tax Schemes to Continue Beyond March 2025 as Date Restrictions Removed
04 February 2025 at 08:56Removing date restrictions on framing the schemes in certain cases
Section 271BB Omitted and Penalty Powers Shift to Assessing Officers in 2025
04 February 2025 at 08:56Certain penalties to be imposed by the Assessing Officer
Section 276BB Amended: Exemption from Prosecution for Certain Delayed TCS Payments
04 February 2025 at 08:56Exemption from prosecution for delayed payment of TCS in certain cases
Time Limit Extension for TCS Default Orders Under Section 206C Effective April 2025
04 February 2025 at 08:56Excluding the period such as court stay etc. for calculating time limit to pass an order
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