CAclubindia News

GST System to Align AATO Figures on NIC e-Invoice Portals from 1st September 2025

16 August 2025 at 08:38

From September 1, 2025, NIC e-Invoice portals will display Aggregate Annual Turnover (AATO) data aligned with GST system records. Taxpayers can report discrepancies via the GST Grievance Redressal Portal or Helpdesk.

Posted in GST | 1932 Views

From Zero Tax to 40,000 Compliance Cuts: PM Modi Outlines Decade of Transformation on 79th Independence Day

16 August 2025 at 08:38

On India’s 79th Independence Day, PM Modi announced sweeping reforms to build a self-reliant, citizen-friendly nation.

Posted in Income Tax | 1329 Views

PM Modi Announces Next-Gen GST Reforms to Boost Economy and Ease of Living

16 August 2025 at 08:37

On the 79th Independence Day, PM Narendra Modi announced plans for next-generation GST reforms focusing on structural changes, rate rationalisation, and ease of living to benefit the common man, farmers, MSMEs and key economic sectors

Posted in GST | 354 Views

Facility for Filing Updated Returns for AY 2021-22 and AY 2022-23 for ITR-3 and ITR-4 Now Available

15 August 2025 at 08:46

The Income Tax Department has announced that taxpayers can now file updated returns for Assessment Years (AY) 2021-22 and AY 2022-23 using ITR-3 and ITR-4 forms.

Posted in Income Tax | 231 Views

Income Tax Department Releases Excel Utility of ITR-6 for AY 2025-26

15 August 2025 at 08:20

The Income Tax Department has released the Excel utility of ITR-6 for Assessment Year (AY) 2025-26, enabling companies to file their income tax returns for the relevant financial year.

Posted in Income Tax | 420 Views

Rajasthan Commercial Taxes Dept Tightens ITC Verification for Delayed GST Registrations

15 August 2025 at 07:59

Rajasthan GST Dept issues circular to reject ITC claims on pre-registration stock for businesses registering after 30 days; directs strict monitoring to curb revenue leakage.

Posted in GST | 162 Views

New Income Tax Bill 2025 Clears Confusion on Rental Income, Home Loan Deductions

15 August 2025 at 07:50

New Income Tax Bill 2025 confirms no change in rental income taxation or home loan deductions; clarifies pre-construction interest allowed for both self-occupied and let-out properties from April 1, 2026.

Posted in Income Tax | 1839 Views

Govt Clarifies Rs 75,000 Standard Deduction Under New Tax Regime in Income Tax Bill 2025

15 August 2025 at 07:42

Govt clarifies Rs 75,000 standard deduction for salaried taxpayers under new regime in Income Tax Bill 2025, effective April 1, 2026; also aligns tax benefits for UPS with NPS.

Posted in Income Tax | 16473 Views

SGST Department Arrests Two Company Directors for Rs 50 Crore GST Evasion Through Fake ITC Claims

15 August 2025 at 07:29

SGST arrests two company directors in Rs 50 crore GST evasion cases involving fake invoices and fraudulent ITC claims, as authorities intensify crackdown on tax fraud

Posted in GST | 441 Views

Finance Ministry to Broaden 'Computer System' Definition in New Income Tax Bill 2025

15 August 2025 at 07:18

Finance Ministry to widen'computer system' definition in Income Tax Bill 2025; CBDT to issue SOP for handling digital data, ensuring stronger tax enforcement while protecting privacy.

Posted in Income Tax | 1257 Views