CAclubindia News

Income Tax Officer Caught in Bribery Case Over PAN Card Cancellation Delay

17 March 2025 at 08:34

In yet another case of corruption within the Income Tax Department, a complaint has been filed against an IT officer in Jalgaon for demanding a bribe to process the cancellation of a newly issued PAN card.

Posted in Income Tax | 2598 Views

Income Tax Officer Caught Taking Bribe, Posed as Another Officer to Extort Elderly Taxpayer

17 March 2025 at 08:33

In a shocking case of corruption, the Central Bureau of Investigation (CBI) caught an Income Tax officer red-handed while accepting a bribe of ₹50,000 from a 62-year-old taxpayer.

Posted in Income Tax | 708 Views

Daily Wage Worker Gets Rs 22.86 Lakh GST Demand Notice

15 March 2025 at 08:22

In a shocking turn of events, a daily wage laborer in Kothagudem has received a recovery notice for Rs 22.86 lakh in pending GST dues, highlighting potential lapses in the tax system's verification processes.

Posted in GST | 1653 Views

New Income Tax Bill Under Review: Parliamentary Panel Holds Key Discussions

15 March 2025 at 08:14

A select committee of Parliament convened to discuss the provisions of the proposed New Income Tax Bill, a key reform initiative aimed at overhauling India's direct tax structure.

Posted in Income Tax | 1401 Views

No Direct Revenue Impact Expected from IT Bill, Clarifies MoS Finance

14 March 2025 at 09:02

The recently introduced Income-tax Bill, 2025, in the Lok Sabha is designed to streamline India's tax framework but is not expected to have an immediate impact on revenue collection, according to Minister of State for Finance Pankaj Chaudhary.

Posted in Income Tax | 1125 Views

IT Department Uses Satellite Imagery to Crack Down on Dubious Agricultural Income Claims

14 March 2025 at 09:02

In a major tax crackdown, the Income Tax (I-T) Department has uncovered discrepancies in agricultural income declarations using satellite imagery.

Posted in Income Tax | 2229 Views

Finance Ministry: 158 GST Cases Registered Against Gaming Firms for Rs 1.53 Lakh Crore

14 March 2025 at 09:02

The Finance Ministry informed the Rajya Sabha on Tuesday that 158 cases involving Goods and Services Tax (GST) dues totaling ₹1.53 lakh crore have been registered till January 2025.

Posted in GST | 525 Views

CBIC Seeks Proposals for Reorganising CGST Commissionerates: Deadline 31st March 2025

13 March 2025 at 08:49

The Central Board of Indirect Taxes and Customs (CBIC) has initiated a comprehensive assessment of the territorial jurisdiction of Central Tax Commissionerates across all Central Tax Zones.

Posted in GST | 7563 Views

Top 5 Industrial States Contribute 72% of Direct Taxes

13 March 2025 at 08:48

The top five industrial states of India - Maharashtra, Karnataka, Delhi, Tamil Nadu and Gujarat collectively contributed more than 72% of the direct taxes and 53% of Central GST in FY 2023-24, according to data tabled in Parliament on Monday.

Posted in Income Tax | 492 Views

Personal Income Tax Collections Rise to 3.5% of GDP in FY24

13 March 2025 at 08:47

The Finance Ministry informed the Lok Sabha on Monday that personal income tax (PIT) collection as a percentage of GDP surged by 140 basis points in the last decade, reaching 3.5% in FY 2023-24, up from 2.1% in FY 2014-15.

Posted in Income Tax | 1053 Views