by Team SKM | May 12, 2025 | ITR, News
The Central Board of Direct Taxes (CBDT) has issued Notification No. 46/2025, dated 9th May 2025, officially releasing the updated ITR-7 Form for the Assessment Year 2025–26. This new form replaces the previous version outlined in Appendix II of the Income-tax Rules,...
by Team SKM | May 10, 2025 | GST, News
GSTN has introduced key updates to the refund filing process under the category “On account of Refund by Recipient of Deemed Export.” What’s New: No Tax Period Selection: Taxpayers no longer need to file refund claims in tax period order or select “From”...
by Team SKM | May 10, 2025 | GST, News
GSTN has simplified the refund process for the following categories: Export of Services (with tax payment) SEZ Supplies (with tax payment) Deemed Exports (by supplier) Key Changes: No Tax Period Selection Needed: Taxpayers can now file without selecting a...
by Team SKM | May 8, 2025 | ITR, News
Key updates:1. Schedule-Capital Gain split for gains before/ after 23.07.2024 (post changes in Finance Act, 2024)2. Capital loss on share buyback allowed if corresponding dividend income is shown as income from other sources (post 01.10.2024)3. Reference of sec 44BBC...
by Team SKM | May 7, 2025 | INVEST UP, News
The Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) is set to develop 12 expressway hubs along the Purvanchal and Bundelkhand Expressways to boost passenger convenience and infrastructure. Of these, eight hubs will be built along the Purvanchal...
by Team SKM | May 6, 2025 | ITR, News
CBDT has notified the new ITR-2 Form for AY 2025–26, introducing key updates. These include separate disclosure of capital gains, permission to claim capital loss on share buybacks effective from October 1, 2024, and an increased threshold of ₹1 crore for reporting...
