The Income Tax Bill 2025 seeks to create a more transparent and efficient tax framework for Non-Resident Indians (NRIs) by addressing long-standing concerns and reducing litigation risks, according to tax experts.
The Indian online gaming industry is at a critical juncture, with Dream11 co-founder and CEO raising concerns over the government's retrospective GST demands exceeding ₹1.1 lakh crore.
The Goods and Services Tax (GST) Council is reportedly considering a reduction in tax rates on select items to stimulate consumption while maintaining revenue stability, according to a report citing sources familiar with the discussions.
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.
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.
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.
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
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.
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.
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.
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