Page Contents
Following the Comptroller and Auditor General Performance Audit Report No. 1 of 2019, CBDT observed inconsistencies in how Assessing Officers handled pre-operative and production-related expenses in the entertainment industry. Similar cases were being assessed differently, leading to a lack of uniformity in taxation.
Directions issued by Central Board of Direct Taxes, Ministry of Finance, GOI, on Issues Directions on Verification of Expenses in the Entertainment Sector dated October 21, 2025, refer to No. F.No.225/215/2018/ITA-II. The Objective of this Direction To ensure Uniform application of the Income Tax Act and rules for Consistency in assessments across entertainment industry taxpayers and transparency and compliance with statutory reporting requirements
CBDT has directed all principal chief commissioners of income tax to ensure uniform verification of expenses claimed by taxpayers engaged in the entertainment sector, which includes television, radio, film production, event management, music and broadcasting, sports, and animation. Following Verification Guidelines issued hereunder:
Can Income Tax Attach a Resolution Professional's Personal Bank Account Under the IBC? Based on the facts stated by you,… Read More
India’s Tax & Advisory Industry Is More Than Just the Big 4 When people discuss careers in taxation, audit, and… Read More
GST treatment of Corporate Guarantees Between related party summarizes an important Gujarat High Court judgment in Torrent Investment Pvt. Ltd.… Read More
FAST-DS 2026: Foreign Assets Disclosure Scheme for Small Taxpayers – Key Highlights The CBDT has introduced FAST-DS 2026 (Foreign Assets… Read More
Private Placement vs Preferential Allotment: Detailed Explanation In this blog we compare Private Placement (Section 42) and Preferential Allotment (Section… Read More
GST Credit Note vs Debit Note: Complete Guide to Meaning, Accounting Entries, ITC Impact & GST Compliance 🔹 Credit Note… Read More