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I. DIRECT TAX: SPOTLIGHT
1. Extension of timelines for filing of various reports of audit and Income Tax Returns (ITRs) for the Assessment Year 2025-26 - Circular No. 15/2025 dated 29 October 2025
The due date for furnishing Income Tax Return for Assessment Year 2025-26 for the assessee referred to in Clause (a) of Explanation 2 to Section 139(1) is extended from 31 October 2025 to 10 December 2025. Consequently, the specified date for furnishing of report of audit as specified under clause (ii) of Explanation to section 44AB of the Act for Assessment Year 2025-26 stands extended to 10 November 2025.
2. CBDT notified Agreement and Protocol between the Republic of India and the State of Qatar for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income - Notification No. 154/2025 dated 24 October 2025
The agreement was signed in New Delhi on 18 February 2025 and entered into force on 10 September 2025. Its provisions will take effect in India and Qatar for income arising on or after the first day of the fiscal year immediately following its entry into force.
3. CBDT clarifies approved tolerance range for the variation between the calculated ALP and the actual transaction price for international or spec
