CAclubindia News

DGGI cracks down on Offshore Online Money Gaming firms to curb Tax Evasion

24 March 2025 at 08:34

DGGI blocks 357 websites/URLs of illegal/non-compliant offshore online money gaming entities

Posted in GST | 1311 Views

Centre's Push to Scrap 12% GST Slab Faces Resistance from States

24 March 2025 at 08:34

Despite 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.

Posted in GST | 1725 Views

Maharashtra Approves Tax Amnesty Scheme for PSUs, Aims to Recover Rs 8,000 Crore

24 March 2025 at 08:34

In 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.

Posted in Income Tax | 732 Views

ICAI Extends 75% Fee Concession for CA Course Registrations in J&K, Ladakh, Andaman & Nicobar and Northeast

22 March 2025 at 15:09

Renewal 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

Posted in Students | 3246 Views

ITAT Mumbai Rules: No Capital Gains Tax on Co-Owner Without Beneficial Interest

22 March 2025 at 08:49

The 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.

Posted in Income Tax | 7779 Views

GSTN Glitch: Issues in Filing SPL-01/SPL-02 Applications Under Waiver Scheme

22 March 2025 at 08:48

Grievances 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

Posted in GST | 4869 Views

Income Tax Department Issues Notices to 300 Private Equity Firms Over Capital Gains Tax Evasion

22 March 2025 at 08:46

In 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.

Posted in Income Tax | 2502 Views

Over Rs 11.8 Trillion Stuck in Direct Tax Disputes, FM Tells Rajya Sabha

21 March 2025 at 08:48

In 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.

Posted in Income Tax | 1596 Views

Income Tax Bill 2025: AMT Expansion May Increase Tax Burden on LLPs and Partnership Firms

21 March 2025 at 08:46

The 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).

Posted in Income Tax | 3984 Views