Offline and Online utility for ITR-3 is available now for filing
The Income Tax Department has announced that both the offline and online filing utilities for Income Tax Return Form ITR-3 are now live for use.
Gujarat Government Grants 80% Relief on Deficit Stamp Duty for Select Property Transfers
The Government of Gujarat, using its powers under Section 9(a) of the Gujarat Stamp Act, 1958, has issued a notification to provide partial relief from deficit stamp duty in property transfer cases. This relief applies specifically to transactions falling under Article 20(b) and Article 20(c) of Schedule I of the Act, which typically relate to property allotment through housing societies, share certificates, and similar instruments.
Gas Cylinders (Third Amendment) Rules, 2025
The Central Government has notified the Gas Cylinders (Third Amendment) Rules, 2025 after inviting public comments via G.S.R. 241(E) dated April 15, 2025. As no objections or suggestions were received, the final rules have now been enacted. These changes aim to enhance safety and align with international standards for cylinders, valves, regulators, and hydrogen storage systems.
Cosmetics (Amendment) Rules, 2025
The Central Government has notified the Cosmetics (Amendment) Rules, 2025 after considering public objections and recommendations from the Drugs Technical Advisory Board. These rules amend several provisions of the Cosmetics Rules, 2020 under the Drugs and Cosmetics Act, 1940. The draft rules were initially notified on May 15, 2023, through G.S.R. 371(E).
Mandatory Filing of IEPF-1A with Excel Template under Rule 5(4A) of IEPF Rules, 2016
The Investor Education and Protection Fund Authority (IEPFA) had earlier amended the IEPF Rules via Notification G.S.R. 571(E) dated August 14, 2019, effective from August 20, 2019. This amendment inserted Rule 5(4A), which mandates companies that had transferred amounts under clauses (a) to (d) of Section 205C of the Companies Act, 1956 — or filed IEPF-1 under Section 125(2)(a)–(n) of the Companies Act, 2013 — to file the relevant details in Form IEPF-1A along with the prescribed Excel template, if such statements were earlier submitted in formats other than the mandated one.
FSSAI Mandates Display of ‘Food Safety Connect’ App QR Code at Food Premises
As per the press release, all FBOs including restaurants, cafes, dhabas, and similar establishments must display their FSSAI licence or registration certificate with the QR code of the ‘Food Safety Connect’ app in customer-accessible areas such as entrances, billing counters, or seating zones
Time Limit Extended for Processing Erroneously Invalidated ITRs By CPC
The Central Processing Centre (CPC), Bengaluru, had mistakenly invalidated several electronically filed income-tax returns (ITRs) for various assessment years due to technical issues. These cases had already crossed the statutory time limits for processing, including the deadline of December 31, 2024, for AY 2023–24.
Master Direction – Lending to Micro, Small & Medium Enterprises (MSME) Sector
Reserve Bank of India (RBI) periodically issues directions to streamline and strengthen credit flow to the Micro, Small and Medium Enterprises (MSME) sector.
Acceptance of Electronic Bank Guarantees (e-BG) by Customs via NeSL
This circular supersedes NeSL’s earlier communication (No. NeSL/DDE/2025/0202 dated July 8, 2025) and introduces revised instructions for the use of electronic Bank Guarantees (e-BGs)
CBIC Clarifies Correlation Norms for Inputs under DFIA Scheme
Trade bodies had raised concerns over delays in clearing DFIA imports due to insistence by Customs authorities