April showers didn’t just bring flowers — they brought a downpour of law updates!
If you blinked, you might have missed key changes in Income Tax, GST, Insolvency, SEBI regulations, and RBI directions. But don’t worry, we’ve rounded up everything you need to know in one breezy, engaging read.
Ready? Let’s dive in
CBDT Updates: Tax Season Just Got More Interesting
- Income-tax (Ninth Amendment) Rules, 2025: PAN holders who got their number through Aadhaar Enrolment ID (before 1 October 2024) now must intimate Aadhaar details. No more procrastinating!
- Income-tax (Eighth Amendment) Rules, 2025: Tweaks to Form 3CD under Section 44AB. If you’re a tax auditor, double-check your checklists.
- Waiver on Interest (Section 201/206C): CBDT’s new circular grants relief in specific cases for levy of interest. More breathing room, less panic.
- Income-tax (Tenth Amendment) Rules, 2025: Say hello to ITR-B under Rule 12AE for cases initiated post 1 September 2024.
- Income-tax (Eleventh Amendment) Rules, 2025: TCS will now hit luxury buys — yachts, home theaters, and other swanky toys.
- Direct Tax Vivad se Vishwas: Declaration filing deadline — 30 April 2025. Don’t miss it!
CBIC Updates: Cargo, Imports, and GST Moves
- Sea Cargo Manifest (Second Amendment) Regulations, 2025: Extended deadlines for compliance — breathe easy, logistics sector!
- Postal Imports Regulations, 2025: Framework for customs clearance of goodies via foreign post offices. Smooth global shopping ahead!
GST Advisory Highlights:
- Proper reporting for inter-state supplies under GSTR-3B (Table 3.2).
- Accuracy nudge for Table-12 in GSTR-1/1A.
SEBI Updates: Tightening Corporate Governance
- InvIT Amendment: Mandatory prompt filling of independent director vacancies.
- Relaxation for IAs & Research Analysts: Advance fee restrictions relaxed. Friendlier regulation vibes.
- Compliance Officer Clarification: Clearer expectations under Regulation 6 of SEBI (LODR) Regulations.
Informal Guidance Hot Takes:
- DCB Bank Ltd: Clarifications under SEBI (LODR).
- Ipca Laboratories: Interpretive letter under SEBI (SAST) norms.
More:
- ESG Rating Providers: New rules under SEBI (CRA) (Second Amendment) Regulations, 2025.
- Trading Window Closure: Immediate relatives now included for trading restrictions — extension of PIT regulations.
IBBI Updates: Insolvency Rules Tighten Up
- Corporate Insolvency (Second Amendment): More detailed disclosures in the Compliance Certificate.
- Insolvency Professionals (Amendment): Now get 24 months to pass the Limited Insolvency Exam for IP registration.
MCA Moves: M&A Rules Under Review
- Section 233 (Companies Act, 2013) Updates: Draft amendments to Companies (Compromises, Arrangements, Amalgamations) Rules up for comments. Watch this space!
RBI Master Directions: Big Updates on Forex and Banking
- Risk Management & Interbank Dealings: Fresh guidelines on FX dealings and regulatory compliance.
- Deposits and Accounts: Vostro accounts regulations consolidated — cleaner rules for NR banks.
- Compounding under FEMA: Master Directions updated to streamline procedures.
Bonus Courtroom Drama: Supreme Court Verdict
- DHFL v. 63 Moons: Supreme Court upholds NCLT’s stand against DHFL’s ex-promoters in favor of Piramal Capital. A big precedent in IBC jurisprudence!
The Bottom Line:
April wasn’t just busy — it was transformational.
🔗 New tax forms, 🔗 Stricter SEBI compliance, 🔗 Smoother GST reporting, 🔗 Sharper insolvency disclosures, 🔗 And tighter Forex regulations.
If you’re a CA, lawyer, or compliance professional, staying updated isn’t optional — it’s your superpower.
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