CAclubindia News

Rajya Sabha Passes New Income Tax Bill 2025 by Voice Vote to Replace Six-Decade-Old Act

13 August 2025 at 09:35

Parliament passes New Income Tax Bill 2025 and Taxation Laws (Amendment) Bill to modernise India's direct tax regime, replacing the Income Tax Act, 1961 with updated provisions for individuals and businesses.

Posted in Income Tax | 1 comments | 3042 Views

Karnataka GST Evasion Cases Soar Five-Fold in FY25, Highest in Three Years

13 August 2025 at 09:21

Karnataka sees a five-fold rise in GST evasion cases in FY25, with Rs 39,577 crore detected - the highest in three years. FM Nirmala Sitharaman clarifies no UPI-based notices from the Centre.

Posted in GST | 90 Views

Income Tax Bill 2025: Refunds for Belated Returns, House Property Deduction Clarified

13 August 2025 at 09:16

Lok Sabha passed the Revised Income Tax Bill, 2025, clarifying tax refund eligibility for late-filers and standard deduction computation on house property, effective April 1, 2026.

Posted in Income Tax | 1923 Views

DGGI Issues Takedown Notice to Google Over 6 Online Gaming Sites for GST Evasion

13 August 2025 at 09:10

DGGI issues takedown notice to Google against six online gaming platforms for GST evasion, citing security concerns and failure to register in India.

Posted in GST | 99 Views

Banks Propose Rs 1 Crore GST Slab to Ease Compliance and Boost Digital Payments

13 August 2025 at 09:03

The Department of Financial Services is reviewing GST registration thresholds, with banks suggesting raising the annual turnover limit for merchants to Rs 1 crore, amid concerns over compliance burden and digital payment adoption.

Posted in GST | 138 Views

No GST Notices Issued Based on UPI Transactions, Clarifies FM Nirmala Sitharaman

13 August 2025 at 08:54

Finance Minister Nirmala Sitharaman clarifies that no GST notices have been issued by Central GST authorities based on UPI transactions, addressing concerns over small business tax scrutiny.

Posted in GST | 3543 Views

RBI guidelines ensure multilingual customer communication and a quicker grievance redressal by banks

13 August 2025 at 08:47

The Reserve Bank of India (RBI) mandates banks to communicate with customers in Hindi, English and the regional language, ensuring clarity and accessibility.

Posted in Others | 42 Views

JioFinance App Launches Rs 24 Self-Service ITR Filing Feature

12 August 2025 at 17:25

JioFinance App, with TaxBuddy, launches a new ITR filing feature offering regime comparison, deduction mapping & expert-assisted tax planning.

Posted in Income Tax | 2520 Views

Income Tax Department Warns Taxpayers Against Phishing Emails Promising Refunds

12 August 2025 at 09:18

Income Tax Department warns taxpayers about phishing emails promising refunds from fake address donotreply@incometaxindiafilling.gov.in; advises not to click suspicious links and report scams.

Posted in Income Tax | 1035 Views

ICAI Launches Practical Guide to GST Disputes to Empower CAs in Litigation and Representation

12 August 2025 at 09:13

ICAI releases Practical Guide to GST Disputes to help Chartered Accountants master GST litigation, evidence handling, appeals, and representation, updated till May 31, 2025.

Posted in GST | 5094 Views