CBDT grants income tax exemption to Uttarakhand Pollution Control Board from AY 2025-26 under Section 10(46A), recognising its role in environmental protection...
The Ministry of Finance has notified the appointment of Mr. Solomon Arokiaraj, Additional Secretary in the Department of Economic Affairs, as a Member of the International Financial Services Centres Authority (IFSCA).
Accountant in Greater Noida booked for siphoning off Rs 1.80 crore using fake GST invoices worth Rs 10 crore. Fraud detected during audit; FIR filed under cheating, forgery & cybercrime laws.
CBDT detects Rs 630 crore in undisclosed crypto income and sends over 44,000 compliance notices under its NUDGE campaign. Learn how the government is cracking down on cryptocurrency linked tax evasion.
A parliamentary panel has urged the Finance Ministry to adopt a time-bound plan to operationalise GSTAT benches nationwide, citing delays in member appointments and their impact on GST dispute resolution.
A parliamentary panel has criticised the Income Tax Department for refusing to segregate business and individual income under PIT, calling for a clear action plan to improve tax transparency and policy formulation.
Experts have criticised the Income-Tax Bill, 2025 for excluding fast-track demergers from tax-neutral treatment, warning that it contradicts ease of doing business and increases tax burden on startups and MSMEs.
In FY25, the Income Tax Department detected Rs 30,444 crore in undisclosed income through 465 surveys, Parliament was informed. Seizures and search operations also yielded assets worth over Rs 2,500 crore.
The Finance Ministry informed Lok Sabha that while GST collections have largely met targets from FY21 to FY25, tax evasion cases surged to over 91,000, with Rs 7.08 lakh crore detected. Measures like e-invoicing and Project Anveshan aim to curb fraud.
The Government is reviewing GST on LIC premiums, with no final decision yet. A Group of Ministers is evaluating the matter and their upcoming report may lead to possible tax relief for life insurance policyholders.
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