India's Net Direct Tax Revenue Falls to Rs 6.64 Lakh Crore, Down 3.95% from Last Year
Finance Minister Nirmala Sitharaman confirms in Rajya Sabha that the Income Tax Bill 2025 simplifies tax laws without altering rates, replacing the outdated 1961 Act to reduce complexity and litigation.
The updated Income Tax Bill 2025 expands Section 132, granting tax officials controlled access to digital data including emails, crypto and cloud storage, during authorised search and seizure operations.
The Income Tax Bill 2025 brings major relief to pensioners by exempting commuted pension from tax for both government and private sector investors in approved pension funds, effective April 2026.
Parliament passes New Income Tax Bill 2025 and Taxation Laws (Amendment) Bill to modernise India's direct tax regime, replacing the Income Tax Act, 1961 with updated provisions for individuals and businesses.
Karnataka sees a five-fold rise in GST evasion cases in FY25, with Rs 39,577 crore detected - the highest in three years. FM Nirmala Sitharaman clarifies no UPI-based notices from the Centre.
Lok Sabha passed the Revised Income Tax Bill, 2025, clarifying tax refund eligibility for late-filers and standard deduction computation on house property, effective April 1, 2026.
DGGI issues takedown notice to Google against six online gaming platforms for GST evasion, citing security concerns and failure to register in India.
The Department of Financial Services is reviewing GST registration thresholds, with banks suggesting raising the annual turnover limit for merchants to Rs 1 crore, amid concerns over compliance burden and digital payment adoption.
Finance Minister Nirmala Sitharaman clarifies that no GST notices have been issued by Central GST authorities based on UPI transactions, addressing concerns over small business tax scrutiny.
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