Finance Minister Nirmala Sitharaman introduced the new Income Tax Bill in the Lok Sabha on February 13, 2024, marking a major step towards overhauling India's tax laws.
Finance Minister Nirmala Sitharaman on Thursday dismissed claims that the new Income Tax Bill is merely a mechanical revision of the existing law.
Finance Minister Nirmala Sitharaman on Thursday countered Aam Aadmi Party (AAP) MP Raghav Chadha's criticism of the Union Budget 2024-25, dismissing his claim that the middle class is excessively taxed.
CBDT under the Ministry of Finance, has issued Notification No. 16/2025 on February 12, 2025, granting tax exemption to the Real Estate Regulatory Authority (RERA), Punjab under Section 10(46A) of the Income-tax Act, 1961.
In a major crackdown on corruption within the Central Goods and Services Tax (GST) department, two officials have been suspended for allegedly extorting ₹7 lakh from traders in Chhattisgarh under the guise of GST irregularities.
Finance Minister K.N. Balagopal on Wednesday announced the implementation of 'faceless adjudication' in the taxpayer services and audit wings of the State Goods and Services Tax (SGST) department.
Income-tax Bill, 2025, tabled in Parliament towards achieving comprehensive simplification of the Income-tax Act, 1961
FM Nirmala Sitharaman informed the Rajya Sabha on Tuesday that the average indirect tax under the GST has significantly reduced since its rollout.
The GST Network (GSTN) has introduced new measures for GST registration, reinforcing compliance with Rule 8 of the CGST Rules, 2017.
The total number of income tax returns (ITRs) filed in FY25 reached a record 83.9 million by December 31, 2024, marking a 4% increase from the previous year, according to government data.
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