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FM Responds to Jaya Bachchan: GST on Movie Tickets Slashed from 28% to 18%

17 February 2025 at 07:37

Responding to concerns raised by MP and former actor Jaya Bachchan, Sitharaman emphasized that GST has significantly reduced the tax burden on the film industry compared to the pre-GST era.

Posted in GST | 2007 Views

Income Tax Bill 2025: Capital Gains Tax Structure Unchanged, Language Simplified for Clarity

17 February 2025 at 07:37

The new Income Tax Bill 2025, tabled in Parliament recently, is being seen by taxation experts as a landmark reform aimed at modernizing and simplifying India's tax framework.

Posted in Income Tax | 5004 Views

GSTN Introduces Form ENR-03 for Enrolment of Unregistered Dealers on E-Way Bill Portal

17 February 2025 at 07:36

In a move to streamline the e-Way Bill (EWB) system, the Goods and Services Tax Network (GSTN) has introduced Form ENR-03, enabling unregistered dealers and persons to enrol and generate e-Way Bills.

Posted in GST | 1962 Views

CBIC Issues Clarifications on GST Rates and Classifications Following 55th GST Council Meeting

15 February 2025 at 07:58

CBIC has issued Circular No. 247/04/2025-GST dated February 14, 2025, clarifying GST rates and classifications based on the recommendations of the 55th GST Council meeting held on December 21, 2024

Posted in GST | 987 Views

New Income Tax Bill Retains Old Regime, Aims for Simpler Tax Laws

15 February 2025 at 07:32

The much-anticipated new Income Tax Bill has put an end to speculation regarding the abolition of the old tax regime, confirming that it will continue to coexist with the new regime.

Posted in Income Tax | 552 Views

New Income Tax Bill 2025 Retains Virtual Digital Asset Scope

15 February 2025 at 07:32

The new Income Tax Bill, 2025, introduced in Parliament by Finance Minister Nirmala Sitharaman on Thursday, has not altered the scope of "virtual digital assets" (VDAs) but has incorporated the definition proposed in the Finance Bill, 2025.

Posted in Income Tax | 678 Views

Income Tax Dept Launches Utility to Compare 1961 Act with Income Tax Bill 2025

15 February 2025 at 07:32

The Income Tax Department of India has introduced a new utility tool designed to assist taxpayers in navigating the transition from the existing Income-tax Act, 1961, to the proposed Income-tax Bill, 2025.

Posted in Income Tax | 2127 Views

Income Tax Bill 2025: Section 80C Deductions Shifted to Clause 123

15 February 2025 at 07:32

Finance Minister Nirmala Sitharaman introduced the new Income Tax Bill in the Lok Sabha on February 13, 2024, marking a major step towards overhauling India's tax laws.

Posted in Income Tax | 3063 Views

New Income Tax Bill Aims for Clarity and Simplification, Says FM Nirmala Sitharaman

15 February 2025 at 07:32

Finance Minister Nirmala Sitharaman on Thursday dismissed claims that the new Income Tax Bill is merely a mechanical revision of the existing law.

Posted in Income Tax | 249 Views

FM Sitharaman Rebuts Raghav Chadha on Tax Relief for Incomes Above Rs 12 Lakh

14 February 2025 at 10:15

Finance Minister Nirmala Sitharaman on Thursday countered Aam Aadmi Party (AAP) MP Raghav Chadha's criticism of the Union Budget 2024-25, dismissing his claim that the middle class is excessively taxed.

Posted in Income Tax | 1 comments | 3585 Views