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[World Tax News] UK Publishes Revocation Order to Suspend Tax Treaty With Russia and More
Editorial Team – [2025] 172 taxmann.com 497 (Article) World Tax News provides a weekly snippet of tax news from around the globe. Here is a glimpse of the tax happening in the world this week: UK publishes revocation order to suspend tax treaty with Russia; Iceland joins global crypto-asset tax reporting framework; and Finland issues […]
SEBI Proposes Harnessing DigiLocker to Reduce Unclaimed Assets in Indian Securities Market
Circular no. SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2025/32; Dated: 19.03.2025 SEBI has proposed harnessing DigiLocker to reduce unclaimed assets in the Indian Securities Market. DigiLocker is a digital document wallet of the Government of India (GoI), facilitating citizens in obtaining and storing documents like Aadhaar, PAN, Driving Licence, Death Certificate, etc. Also, DigiLocker provides a nomination facility to its users. […]
Schedule III of the Companies Act 2013 – Financial Statement Framework
Schedule III of the Companies Act, 2013 provides the framework for preparing and presenting financial statements of companies in India. It standardizes the balance sheet, statement of profit and loss, and related disclosures, ensuring consistency and comparability across financial statements. Table of Contents Presentation of Items in Schedule III (Division I) + Operating Cycle Managerial […]
Order Quashed as Proceedings for Stock Discrepancy Should Be Initiated Under Sections 73 or 74 Instead of Section 130 | HC
Case Details: Dayal Product vs. Additional Commissioner - [2025] 172 taxmann.com 263 (Allahabad) Judiciary and Counsel Details Piyush Agrawal, J. Aditya Pandey, for the Petitioner. Facts of the Case An inspection was conducted at the business premises of the assessee, leading to the initiation of proceedings under Section 130 of the Central Goods and Services Tax […]
LegalTech in India – Role of Technology and Legal Education
LegalTech (Legal Technology) in India refers to the use of digital tools, software, and artificial intelligence (AI) to streamline and enhance legal processes. It encompasses a broad range of technologies aimed at improving efficiency, accessibility, and affordability in legal services. Despite challenges like resistance to change, cost barriers, and data security concerns, LegalTech in India […]
No Violation of Principles of Natural Justice if No Relevant Docs Were Produced in Response to SCN | HC
Case Details: St. Alphonsa Trust vs. Assessment Unit - [2025] 172 taxmann.com 235 (Madras) Judiciary and Counsel Details K. Kumaresh Babu, J. T.V. Muthu Abirami, for the Petitioner. K. Parekh Kumar, Sr. Standing Counsel for the Respondent. Facts of the Case The assessee, a charitable trust, was running a Medical College and Hospital. During the assessment […]
CBDT issues Circular on Frequently Asked Questions (FAQs) relating to Revised Guidelines for Compounding of Offences under Income-Tax Act, 1961 dated 17.10.2024
Publish Date : Monday, March 17, 2025 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1222/Press-Release-CBDT-issues-Circular-on-FAQs-relating-dated-17.10.2024.pdf source
GST on Real Estate – Key Rates | Rules | Compliance
GST on Real Estate refers to how the Goods and Services Tax (GST) applies to the buying, selling, and developing of residential and commercial properties in India. Introduced on 1 July 2017, GST replaced various indirect taxes like service tax and VAT, aiming to simplify taxation for the real estate sector—which has traditionally been subject […]
ARC Obligation to Restore Cell Sites to Their Original Condition at End of Lease Period Is Allowable as Business Expense | HC
Case Details: Vodafone Mobile Services Ltd. vs. Deputy Commissioner of Income-tax - [2025] 172 taxmann.com 368 (Delhi) Judiciary and Counsel Details Yashwant Varma & Harish Vaidyanathan Shankar, JJ. Sachit Jolly, Sr. Adv., Ms Soumya Singh, Ms Disha Jham & Abhyudaya Shankar Bajpai, Advs. for the Appellant. Indruj Singh Rai, SSC, Sanjeev Menon, Rahul Singh, JSCs, Anmol Jagg, Gaurav Kumar & Ms Varsha Sharma, […]
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