ICAI has welcomed the new Income Tax Bill, effective April 1, 2026, calling it a simpler, clearer framework that incorporates 90 of its suggestions to boost ease of doing business and attract investment.
The GST Council may finalise next-gen reforms in its September-October meeting, including a two-slab structure of 5% and 18%, a 40% sin tax, faster refunds, and pre-filled returns to ease compliance.
From September 1, 2025, NIC e-Invoice portals will display Aggregate Annual Turnover (AATO) data aligned with GST system records. Taxpayers can report discrepancies via the GST Grievance Redressal Portal or Helpdesk.
On India’s 79th Independence Day, PM Modi announced sweeping reforms to build a self-reliant, citizen-friendly nation.
On the 79th Independence Day, PM Narendra Modi announced plans for next-generation GST reforms focusing on structural changes, rate rationalisation, and ease of living to benefit the common man, farmers, MSMEs and key economic sectors
The Income Tax Department has announced that taxpayers can now file updated returns for Assessment Years (AY) 2021-22 and AY 2022-23 using ITR-3 and ITR-4 forms.
The Income Tax Department has released the Excel utility of ITR-6 for Assessment Year (AY) 2025-26, enabling companies to file their income tax returns for the relevant financial year.
Rajasthan GST Dept issues circular to reject ITC claims on pre-registration stock for businesses registering after 30 days; directs strict monitoring to curb revenue leakage.
New Income Tax Bill 2025 confirms no change in rental income taxation or home loan deductions; clarifies pre-construction interest allowed for both self-occupied and let-out properties from April 1, 2026.
Govt clarifies Rs 75,000 standard deduction for salaried taxpayers under new regime in Income Tax Bill 2025, effective April 1, 2026; also aligns tax benefits for UPS with NPS.
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