CAclubindia News

Income Tax Bill 2025 Aims to Simplify Language, Cut Litigation and Consolidate TDS Provisions: MP PP Chaudhary

28 July 2025 at 09:04

The Income Tax Bill 2025 aims to simplify tax laws, reduce litigation, and consolidate TDS provisions, says MP PP Chaudhary. The bill replaces the 1961 Act with fewer words and clearer language.

Posted in Income Tax | 1341 Views

Pay Tax and Relax: IRS Chief Vikram Sahay at Sopore Income Tax Awareness Event

28 July 2025 at 08:54

As part of Income Tax Day celebrations, the Income Tax Department Srinagar conducted a tax awareness programme in Sopore, led by Chief Commissioner Vikram Sahay, to promote compliance and taxpayer confidence.

Posted in Income Tax | 1191 Views

Rajasthan Labourer Discovers Rs 18 Crore Fake Firm in His Name, Rs 3 Crore GST Fraud Uncovered

28 July 2025 at 08:49

A Rajasthan labourer discovers an Rs 18 crore fake firm registered in his name in Delhi, exposing a GST fraud of over Rs 3 crore. Police and tax officials launch a probe into the shocking identity theft case.

Posted in GST | 1 comments | 4665 Views

Income Tax Department Leverages AI to Boost Compliance and Track High-Risk Taxpayer Behavior

26 July 2025 at 09:21

The Income Tax Department is using AI and data analytics to monitor taxpayer behavior, flag high-value transactions and boost compliance.

Posted in Income Tax | 1296 Views

Income Tax Dept Releases Updated Excel-Based ITR-3 Utility for AY 2025-26

26 July 2025 at 09:15

The Income Tax Department has released Version 1.1 of the Excel-based ITR-3 utility on July 24, 2025, for individuals and HUFs earning income from business or profession.

Posted in Income Tax | 534 Views

No GST on UPI Transactions Above Rs 2000, Confirms Finance Ministry in Rajya Sabha

26 July 2025 at 09:08

Finance Ministry clarifies in Rajya Sabha that there is no proposal to levy GST on UPI transactions above Rs 2000, as no such recommendation has been made by the GST Council.

Posted in GST | 1 comments | 32646 Views

Finance Ministry Rules Out Statutory Time Limits for Disposal of Income Tax Appeals Amid Rising Pendency

26 July 2025 at 09:01

Despite over 5 lakh pending cases at the CIT (A) level, the Finance Ministry has declined to impose statutory deadlines for disposal of income tax appeals, citing the judicial nature of proceedings and complexity of cases.

Posted in Income Tax | 1755 Views

CBDT Chairman Assures Privacy, Says Only Financial Data From Devices Will Be Analysed in Investigations

26 July 2025 at 08:56

The proposed Income Tax Bill, 2025, has sparked a privacy debate over provisions allowing access to taxpayers’ digital devices, emails, and social media. CBDT assures data privacy safeguards and the release of a digital search manual.

Posted in Income Tax | 1284 Views

AI Tools Helped Income Tax Department Collect Rs 11,000 Crore in 4 Years: CBDT Chairman

26 July 2025 at 08:50

CBDT Chairman Ravi Agarwal reveals AI-driven initiatives have led to Rs 11,000 crore in additional tax revenue from over 1 crore updated returns, and uncovered Rs 29,000 crore in foreign assets and Rs 1,000 crore in VDA income in FY25.

Posted in Income Tax | 1158 Views

GST Relief Assurance Fails to Pacify NGOs and Schools Facing Tax Notices in Karnataka

26 July 2025 at 08:44

Trade bodies in Karnataka welcomed the state's assurance to not pursue old GST arrears on exempted services, but NGOs and schools remain wary as tax notices for donations and co-curricular activities continue to raise alarm.

Posted in GST | 135 Views