CAclubindia News
Centre's Push to Scrap 12% GST Slab Faces Resistance from States
24 March 2025 at 08:34Despite the Centre's push to simplify the GST structure by eliminating the 12% tax slab, the Group of Ministers (GoM) on GST rate rationalisation remains divided on the proposal.
Maharashtra Approves Tax Amnesty Scheme for PSUs, Aims to Recover Rs 8,000 Crore
24 March 2025 at 08:34In a significant move to resolve long-standing tax disputes, the Maharashtra Legislative Council on Thursday sanctioned a bill granting amnesty to PSUs of the Central and state governments for their tax dues to the Maharashtra government.
ICAI Extends 75% Fee Concession for CA Course Registrations in J&K, Ladakh, Andaman & Nicobar and Northeast
22 March 2025 at 15:09Renewal of 75% Concession in Registration Course Fee for all levels of CA Courses for the Candidates/ Students from Union Territories of Jammu & Kashmir, Ladakh, Andaman & Nicobar Islands and for 8 North-Eastern States
ITAT Mumbai Rules: No Capital Gains Tax on Co-Owner Without Beneficial Interest
22 March 2025 at 08:49The Income Tax Appellate Tribunal (ITAT), Mumbai bench, has ruled that an individual listed as a co-owner of a property without actual financial interest cannot be taxed for capital gains upon its sale.
GSTN Glitch: Issues in Filing SPL-01/SPL-02 Applications Under Waiver Scheme
22 March 2025 at 08:48Grievances are raised by taxpayers regarding difficulties faced while filing the waiver applications. Following grievances faced by taxpayers have come to the notice of GSTN and the team is working to resolve the issues at the earliest
Income Tax Department Issues Notices to 300 Private Equity Firms Over Capital Gains Tax Evasion
22 March 2025 at 08:46In a major crackdown on tax evasion, the Income-Tax Department has issued notices to approximately 300 private equity (PE) firms and company promoters over alleged non-payment or underpayment of capital gains tax, according to a report.
Over Rs 11.8 Trillion Stuck in Direct Tax Disputes, FM Tells Rajya Sabha
21 March 2025 at 08:48In a recent disclosure in Rajya Sabha, Finance Minister Nirmala Sitharaman revealed that a staggering Rs 17.59 trillion in tax revenue remains locked in litigation, with over 1.53 lakh cases pending across various judicial and quasi-judicial forums.
Income Tax Bill 2025: AMT Expansion May Increase Tax Burden on LLPs and Partnership Firms
21 March 2025 at 08:46The Income-Tax Bill, 2025, has proposed significant changes to the alternative minimum tax (AMT) framework, potentially increasing the tax burden on partnership firms and limited liability partnerships (LLPs) with long-term capital gains (LTCG).
RBI appoints Shri Indranil Bhattacharyya as new Executive Director
21 March 2025 at 08:43The Reserve Bank of India (RBI) has appointed Shri Indranil Bhattacharyya as Executive Director (ED) with effect from March 19, 2025.
GSTN Adds YES Bank, Expanding GST Payment Banks to 31
20 March 2025 at 08:47The Goods and Services Tax Network (GSTN) has added YES Bank to the GST Portal as an authorized bank for accepting GST payments. With this addition, the total number of banks facilitating GST payments now stands at 31.
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