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Highlights of Economic Survey 2024-25
31 January 2025 at 14:28Explore the key highlights of the Economic Survey 2024-25, including GDP growth projections, fiscal policies, sector-wise performance, and key policy recommendations shaping India's economic outlook
PM Modi Opens Budget Session 2025 with Vision for a Developed India
31 January 2025 at 13:07The Prime Minister Shri Narendra Modi addressed the media before the start of the Budget Session of 2025 at the Parliament premises today.
No 18% GST on Penal Charges, Confirms Finance Ministry
31 January 2025 at 09:16In a major relief for borrowers and financial institutions, the Ministry of Finance has clarified that penal charges imposed by banks and NBFCs for non-compliance with loan terms will not attract 18% GST.
CBIC Clarifies Late Fee Applicability for GSTR-9C Filing
31 January 2025 at 09:15CBIC has issued Circular No. 246/03/2025-GST on January 30, 2025, providing clarity on the applicability of late fees for delays in filing the reconciliation statement in FORM GSTR-9C
Draft Bank Branch Auditors' Panel (MEF) for 2024-25 Now Live
31 January 2025 at 09:15The Professional Development Committee of the Institute of Chartered Accountants of India (ICAI) is pleased to announce that the Draft Bank Branch Auditors' Panel (MEF) for the year 2024-25 has been published on the official ICAI website.
Real Estate Sector Seeks Affordable Housing Limit Hike, Tax Benefits in Budget 2025
31 January 2025 at 09:13The Indian real estate sector has urged the government to enhance the monetary cap for affordable housing from the current Rs 45 lakh to at least Rs 75 lakh or even Rs 1 crore, citing rising construction costs and inflation.
Finance Bill 2025 May Amend CGST Act to Introduce Track and Trace Mechanism for High-Evasion Goods
31 January 2025 at 09:13The upcoming Finance Bill 2025 may include a significant amendment to the Central Goods and Services Tax (CGST) Act, 2017, introducing a Track and Trace Mechanism aimed at curbing tax evasion in high-risk commodities.
Bombay HC Directs IT Dept to Restore Section 87A Tax Rebate in ITR Utility
30 January 2025 at 09:24In a significant ruling on January 24, 2025, the Bombay High Court held that the Income Tax Department (ITD) acted arbitrarily by modifying the ITR utility software to deny Section 87A tax rebate claims on special rate incomes post-July 5, 2024.
Union Budget 2025: Senior Citizens Expect Higher Tax Exemptions and Better Savings Scheme Returns
30 January 2025 at 09:20With the Union Budget 2025 set to be presented by Finance Minister Nirmala Sitharaman on February 1, senior citizens are eagerly anticipating potential tax relief measures and improved interest rates on savings schemes.
GSTN Update: Taxpayers Can Opt for Composition Scheme for FY 2025-26 from 4th Feb to 31st March 2025
30 January 2025 at 09:17The Goods and Services Tax Network (GSTN) has announced that taxpayers can opt for the Composition Scheme for the financial year 2025-26 by filing Form CMP-02 on the GST Portal.
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