CAclubindia News
Net Direct Tax Collections Drop 3.95% YoY to Rs 6.64 Lakh Crore as of August 11
14 August 2025 at 08:56India's Net Direct Tax Revenue Falls to Rs 6.64 Lakh Crore, Down 3.95% from Last Year
New Income Tax Bill 2025 Simplifies Tax Law Without Changing Rates: FM Nirmala Sitharaman
14 August 2025 at 08:49Finance Minister Nirmala Sitharaman confirms in Rajya Sabha that the Income Tax Bill 2025 simplifies tax laws without altering rates, replacing the outdated 1961 Act to reduce complexity and litigation.
Revised Income Tax Bill Empowers Authorities to Access Digital Assets During Search Operations
14 August 2025 at 08:42The updated Income Tax Bill 2025 expands Section 132, granting tax officials controlled access to digital data including emails, crypto and cloud storage, during authorised search and seizure operations.
Income Tax Bill 2025: Full Tax Exemption on Commuted Pension for All Eligible Pensioners
14 August 2025 at 08:38The Income Tax Bill 2025 brings major relief to pensioners by exempting commuted pension from tax for both government and private sector investors in approved pension funds, effective April 2026.
Rajya Sabha Passes New Income Tax Bill 2025 by Voice Vote to Replace Six-Decade-Old Act
13 August 2025 at 09:35Parliament passes New Income Tax Bill 2025 and Taxation Laws (Amendment) Bill to modernise India's direct tax regime, replacing the Income Tax Act, 1961 with updated provisions for individuals and businesses.
Karnataka GST Evasion Cases Soar Five-Fold in FY25, Highest in Three Years
13 August 2025 at 09:21Karnataka sees a five-fold rise in GST evasion cases in FY25, with Rs 39,577 crore detected - the highest in three years. FM Nirmala Sitharaman clarifies no UPI-based notices from the Centre.
Income Tax Bill 2025: Refunds for Belated Returns, House Property Deduction Clarified
13 August 2025 at 09:16Lok Sabha passed the Revised Income Tax Bill, 2025, clarifying tax refund eligibility for late-filers and standard deduction computation on house property, effective April 1, 2026.
DGGI Issues Takedown Notice to Google Over 6 Online Gaming Sites for GST Evasion
13 August 2025 at 09:10DGGI issues takedown notice to Google against six online gaming platforms for GST evasion, citing security concerns and failure to register in India.
Banks Propose Rs 1 Crore GST Slab to Ease Compliance and Boost Digital Payments
13 August 2025 at 09:03The Department of Financial Services is reviewing GST registration thresholds, with banks suggesting raising the annual turnover limit for merchants to Rs 1 crore, amid concerns over compliance burden and digital payment adoption.
No GST Notices Issued Based on UPI Transactions, Clarifies FM Nirmala Sitharaman
13 August 2025 at 08:54Finance Minister Nirmala Sitharaman clarifies that no GST notices have been issued by Central GST authorities based on UPI transactions, addressing concerns over small business tax scrutiny.
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