The New IT Bill, 2025, simplifies corporate taxation by addressing dividend double taxation, clarifying AMT rules for LLPs, restoring inter-corporate dividend deductions, and refining ‘beneficial ownership’ provisions to reduce litigation
Businesses will soon get GST registration within 3 days, with 95% of applications cleared in the new timeframe. Automated refunds for ITC and inverted duty structures will further ease compliance and improve cash flows.
CCS Hyderabad police arrested the Managing Partner of Ambika Steel for alleged GST fraud involving fake invoices and e-way bills. Vehicle numbers were misused to claim ITC without moving goods.
While sin goods like cigarettes and gutka will remain under high tax slabs, the Centre is considering lowering GST on man-made fabrics from 12% to 5% to boost the textile sector.
The CBI has arrested a Superintendent of Customs posted at Mumbai's Air Cargo Complex, Sahar, for demanding and accepting a Rs 10.2 lakh bribe from a Customs House Agent to clear consignments.
The Centre plans sweeping GST reforms, restructuring automobile taxes from the current 28% plus cess to a simplified two-slab system. The move aims to resolve classification disputes and make cars more affordable for consumers.
The Institute of Chartered Accountants of India (ICAI), in association with ZEE Business, announces the CA Business Leader 40 Under 40 Awards to recognize young Chartered Accountants
A recent ruling by the Bombay High Court has provided significant relief in a joint property ownership dispute, reinforcing the principle that tax reassessments must be based on credible evidence rather than assumptions of ownership.
CBDT and CBIC face over 30,000 vacancies with 34–39% staff shortage even as India prepares for a new Income Tax law and GST reforms, says Finance Ministry.
ICAI releases checklist for filing ITR-1 and ITR-4 for AY 2025-26 with detailed guidance on eligibility, deductions, tax computation and compliance requirements.
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