As per sources within the Finance Ministry, the Centre is likely to maintain its original budgeted estimate of ₹22.07 lakh crore for direct tax collection when it revises estimates in February.
Focus of the meeting was business performance, upgrading digital technology services, and fostering business growth in activities allied to agriculture and micro and small industry
In a pre-Budget meeting with Revenue Secretary Sanjay Malhotra, the Confederation of Indian Industry (CII) urged the government to continue tax reforms and boost capital expenditure in the Union Budget for 2025-26.
In anticipation of the Union Budget 2025, leading industry bodies have urged the finance ministry to streamline the tax deducted at source (TDS) structure, aiming to reduce the compliance burden and minimize litigation for taxpayers, as per reports.
CBIC introduces relaxations for Customs Cargo Service Providers (CCSPs) by reducing number of days for insurance of storage goods and withdrawal of licence renewal process for AEO-compliant CCSPs
On Thursday, the Supreme Court of India reinstated tax notices worth an estimated ₹20,000-23,000 crore issued by the Directorate of Revenue Intelligence (DRI) to several major corporations, including Vedanta Ltd, Vodafone Idea Ltd, Adani Enterprises
In a landmark judgment, the Supreme Court on Thursday upheld the Madras High Court's ruling that salaries paid to priests and nuns working as teachers in church-run, government-aided schools are subject to income tax.
GST Council in its 53rd meeting held on 22nd June, 2024 had recommended for waiver of interest and penalties in the demand notices or orders issued under Section 73 of the CGST Act, 2017
The Council, at its 433rd meeting, held on August 13-15, 2024, considered the revised criteria for classification of Non-company entities for applicability of Accounting Standards issued by The Institute of Chartered Accountants of India (ICAI)
NFRA Board to Address Major Audit Standard Revisions Amid Tensions with ICAI
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