Income tax refunds drop 16% as the government tightens fraud detection checks; taxpayers face longer verification for high-value claims.
Uttar Pradesh State Tax Department has uncovered a fake firm, M/s Kumar Service, in Lucknow that fraudulently claimed Rs 2.11 crore Input Tax Credit using forged documents.
The recent GST exemption on life insurance premiums may limit insurers' Q2 profits despite a 14.8% rise in new business premiums in September 2025.
The Bombay High Court has granted an interim stay on the 18% GST rate for restaurants inside premium hotels, challenging the tax disparity with standalone eateries taxed at 5%.
Gujarat High Court directs CBDT to extend ITR filing deadline for audit cases by one month, offering relief to taxpayers and professionals.
Income Tax Dept updates e-filing portal: Track exactly when AO/CIT(A) views your submissions, enhancing transparency in faceless assessments & appeals.
An NRI taxpayer successfully challenged the Income Tax Department after being wrongly assessed Rs 2.28 crore as unexplained income. ITAT Ahmedabad reduced the amount to just Rs 63,133.
ICAI releases a comprehensive Handbook for Chartered Accountants, featuring standard certificate formats, compliance checklists and practical guidance to strengthen audit and reporting practices.
The Ministry of Heavy Industries has withdrawn GST concession certificates for vehicle purchases by orthopaedically disabled persons, following a Finance Ministry clarification making the GST rate uniform at 18% for small cars across all buyers.
Three airport employees posing as customs officers were arrested at Mumbai Airport for extorting a passenger arriving from Dubai.
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