Tax News
Income Tax: Last 9 days left before Vivad Se Vishwas scheme comes to an end
The Vivad Se Vishwas Scheme will come to end on April 30 before which eligible taxpayers can file a declaration in respect of tax arrears
1 min read21 Apr 2025How tariffs hurt tax reform
Trump advisers float an export tax credit to make up for tariff harm.
2 min read21 Apr 2025More digital nudges weighed as taxman pushes compliance
Experts say tech and artificial intelligence driven-‘nudging’ is a key element of the tax department’s new toolkit.
2 min read21 Apr 2025Penalise officers demanding unnecessary documents for GST registration: CBIC
The apex authority for indirect taxes issues instructions to reduce the compliance burden on taxpayers
2 min read18 Apr 2025‘Completely false, misleading…’: Modi govt denies levying GST on UPI transactions above THIS amount
GST on UPI payments? Denying media reports that the government is considering levying a tax on UPI transactions over ₹2,000, the finance ministry said they are completely false, misleading, and without any basis.
2 min read18 Apr 2025ICICI Prudential receives ₹3.67 crore tax order from GST authorities, stock down 10% YTD; Buy or sell?
ICICI Prudential Life Insurance received an order from the GST Commissioner upholding the tax demand of about ₹3.67 crore. The insurer’s stock has shed nearly 10 per cent YTD.
2 min read18 Apr 2025GST on UPI transactions over ₹2,000? Here’s what you need to know
GST on UPI payments: The finance ministry termed the reports ‘completely false, misleading, and without any basis’, strongly denying the claims of levying GST over UPI transactions above ₹2,000.
2 min read19 Apr 2025SC ruling on reporting cash deals above ₹2 lakh empowers taxman, may deter litigation in civil suits
Experts said the Supreme Court’s ruling requiring reporting of significant cash transactions could discourage genuine litigants from seeking justice, as it increases scrutiny from the Income Tax Department and may lead to penalties for cash-based dealings.
3 min read17 Apr 2025Old tax regime vs New tax regime: Which one to pick as the new financial year kicks in. Check details
As the financial year 2025-26 begins, taxpayers must choose between the two income tax regimes when they file their income tax returns (ITR)—the deadline is July 31.
2 min read17 Apr 2025New tax regime: Can presumptive taxation make business incomes up to ₹2 crore tax-free?
Small businesses and professionals with turnovers up to ₹2 crore and ₹24 lakh see an opportunity to pay zero tax through the presumptive taxation option under the new regime.
6 min read16 Apr 2025Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared