CAclubindia News
Finance Ministry to Broaden 'Computer System' Definition in New Income Tax Bill 2025
15 August 2025 at 07:18Finance Ministry to widen'computer system' definition in Income Tax Bill 2025; CBDT to issue SOP for handling digital data, ensuring stronger tax enforcement while protecting privacy.
Ministry of Defence to Reimburse 18% GST on Defence R&D Grants for Start-Ups and MSMEs
15 August 2025 at 07:04MoD to reimburse 18% GST to private start-ups and MSMEs on defence R&D grants under iDEX and TDF schemes, offering interim relief until GST Council decides on permanent exemption.
GSTN Launches "Navigate to GSTR-1A" on GST Portal
15 August 2025 at 07:04GSTN introduces the "Navigate to GSTR-1A" feature on the GSTR-3B payment page, allowing taxpayers to easily review, edit and correct sales data before filing returns, ensuring greater accuracy and compliance.
CAG Flags Gaps in GST E-Way Bill System
15 August 2025 at 07:00CAG’s audit of the GST E-Way Bill system reveals ₹576.86 crore in revenue loss due to tax evasion, urges tighter monitoring, alerts for misuse, and improved enforcement to protect government revenue.
PG in Bengaluru Faces Backlash Over 12% GST on Online Rent Payments
14 August 2025 at 09:23A Bengaluru PG's notice demanding cash-only rent to dodge 12% GST on online payments has ignited a social media debate over tax evasion, tenant rights, and transparency in the rental market.
Finance Ministry Issues Corrigendum to IT Bill, Clarifies Interest on Advance Tax Short-Payment
14 August 2025 at 09:10The Finance Ministry has corrected the Income-tax (No. 2) Bill, 2025, restoring the interest calculation for shortfall in advance tax payments to match the old Income-tax Act, 1961.
Net Direct Tax Collections Drop 3.95% YoY to Rs 6.64 Lakh Crore as of August 11
14 August 2025 at 08:56India's Net Direct Tax Revenue Falls to Rs 6.64 Lakh Crore, Down 3.95% from Last Year
New Income Tax Bill 2025 Simplifies Tax Law Without Changing Rates: FM Nirmala Sitharaman
14 August 2025 at 08:49Finance Minister Nirmala Sitharaman confirms in Rajya Sabha that the Income Tax Bill 2025 simplifies tax laws without altering rates, replacing the outdated 1961 Act to reduce complexity and litigation.
Revised Income Tax Bill Empowers Authorities to Access Digital Assets During Search Operations
14 August 2025 at 08:42The updated Income Tax Bill 2025 expands Section 132, granting tax officials controlled access to digital data including emails, crypto and cloud storage, during authorised search and seizure operations.
Income Tax Bill 2025: Full Tax Exemption on Commuted Pension for All Eligible Pensioners
14 August 2025 at 08:38The Income Tax Bill 2025 brings major relief to pensioners by exempting commuted pension from tax for both government and private sector investors in approved pension funds, effective April 2026.
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