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India's Tax Reforms and Digital Transformation Boost Revenue, Cut Compliance Costs: FM Sitharaman
03 July 2025 at 09:02FM Nirmala Sitharaman highlighted India's strides in tax reforms, digital transformation, and inclusive growth at the Third Plenary Meeting of the Fourth International Conference on Financing for Development
GST Fraud Using Villagers' Identities: Rs 130 Crore ITC Scam Exposed
03 July 2025 at 08:57The Economic Offences Wing (EOW) has unearthed a massive Goods and Services Tax (GST) input tax credit (ITC) fraud worth Rs 130 crore, involving 23 fake firms and Rs 512 crore in fake invoices, according to officials.
Karnataka State Pollution Control Board Gets Income Tax Exemption on Specified Incomes
03 July 2025 at 08:52In a major relief for the Karnataka State Pollution Control Board (KSPCB), the Central Government has notified income-tax exemption on specific sources of income under Section 10(46) of the Income-tax Act, 1961.
Finance Ministry Notifies 7.1% Special Deposit Scheme (SDS) Rate for Q2 FY 2025-26
03 July 2025 at 08:49Interest Rate on Special Deposit Scheme for Non-Government Provident and Retirement Funds Set at 7.1% for Q2 FY 2025-26
ICAI Invites Public Comments on Inclusion of "Forensic Investigation" in Chartered Accountants Regulations
03 July 2025 at 08:44The Institute of Chartered Accountants of India (ICAI), through its Digital Accounting and Assurance Board, has invited public comments on proposed amendments to Regulation 204 of the Chartered Accountants Regulations, 1988.
Big Relief for NRIs: US Lowers Proposed Tax on Remittances to India from 5% to 1% in Revised Trump Bill
02 July 2025 at 09:09In a major relief for Indian professionals working in the United States and Non-Resident Indians (NRIs) sending money back home, the revised draft of the One Big Beautiful Bill Act (OBBBA) has slashed the proposed tax rate on remittances to 1%
CBDT Issues Clarification on Waiver of Interest Under Sections 201(1A)(ii) and 206C(7) of Income Tax Act
02 July 2025 at 09:03The Central Board of Direct Taxes (CBDT) has issued Circular No. 8/2025 dated July 1, 2025, to clarify key concerns raised by field officers regarding the waiver of interest under Sections 201(1A)(ii) and 206C(7) of the Income-tax Act, 1961
RBI: Rs 6099 Crore Worth of Rs 2000 Notes Still in Circulation as of June 2025
02 July 2025 at 08:55As of June 30, 2025, only Rs 6,099 crore worth of Rs 2000 notes remain in circulation, a dramatic decline from the Rs 3.56 lakh crore recorded on May 19, 2023.
CBDT Notifies Cost Inflation Index for FY 2025-26 at 376
02 July 2025 at 08:50The Central Board of Direct Taxes (CBDT), via Notification No. 70/2025 dated July 1, 2025, has officially notified the Cost Inflation Index (CII) for the Financial Year 2025-26 as "376".
8 Years of GST: PM Modi Says Reform Boosted Ease of Doing Business for SMEs
02 July 2025 at 08:42The Prime Minister Shri Narendra Modi has remarked that eight years since GST was introduced, it stands out as a landmark reform that has reshaped India's economic landscape.
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