Page 11 - Monika Yadav

ITAT body raises concern over high pendency of cases at Delhi Benches

The Bar association claimed that Delhi has the "highest pendency" of cases among ITAT Benches, many involving complex legal issues and high revenue stakes

New ITR-3 Form: Relief for professionals as asset limit raised to ₹1 crore

CBDT doubles asset reporting limit to ₹1 crore under revised ITR-3 for AY 2025-26 and introduces structured capital gains rules, buyback taxation, and dropdown menus

Bouncing back: April's net GST kitty at fresh high of ₹2.09 trillion

Net receipt from FY25 transactions increases 8%

Arvind Shrivastava takes charge as revenue secretary amid policy challenges

Prior to this, Shrivastava served in the Prime Minister's Office as joint secretary and later as additional secretary

Individual taxpayers with LTCG up to ₹1.25 lakh can use simplified ITR-1

Until now, salaried individuals having income under the head LTCG were required to file Form ITR-2

The price of building India: Why cement remains in the 28% GST slab

Cement contributes significantly to the government exchequer not just due to its high tax rate, but also because credit availment is blocked and restricted under the statute

Net direct tax mopup in FY25 hit Rs 22.26 trillion, shows govt data

This was marginally short of revised target; highest-ever refunds issued

Centre notifies rules for GST Appellate Tribunal to make it operational

Authorised representatives, including lawyers and tax professionals, must submit a power of attorney before representing clients

Companies can't claim tax deduction on regulatory settlements, says govt

The tax department clarified that any expenditure incurred to resolve proceedings under four specific laws will not be treated as a business expense

From Amazon to Google: Global SaaS companies face fresh tax demands

Demands raised for FY22, FY23

From watches to horses: Now, 1% TCS on luxury goods over ₹10 lakh

Earlier, TCS under Section 206C (1F) was applicable primarily to the sale of motor vehicles above ₹10 lakh

No question of fiscal deficit going out of control: FM Nirmala Sitharaman

Sitharaman's comment comes at a time when forecasting agencies have pared down their FY26 growth estimates for India amid growing global uncertainty

First phase of India-US trade deal likely by fall this year: Sitharaman

Addressing the Indian diaspora in San Francisco, Finance Minister Nirmala Sitharaman said the issue of reciprocal tariff is part of a broader trade negotiation strategy

CBIC issues new rules to simplify GST registration, curb official overreach

The revised guidelines aim to curb discretionary demands for extraneous documents, a frequent complaint among taxpayers who have reported harassment and inconsistency in the registration process

Arvind Shrivastava named revenue secretary in major FinMin rejig

With the appointment of four new secretaries, the Finance Ministry has, in recent months, witnessed an unusually high frequency of changes at the top bureaucratic level

Recognised startups spared Section 68 scrutiny, others under watch: CBDT

The clarification comes amid income-tax notices issued to startups for foreign funding routed via Singapore

3 Shemaroo Entertainment staffers get Bombay HC relief in GST case

The dispute originated from an input tax credit (ITC) issue involving Rs 70 crore, which tax authorities alleged Shemaroo had falsely claimed

Startups face I-T department heat over funding through Singapore

Showcause notices issued to startups under Section 68 for capital raised over the past five years, demanding documentation on foreign investments

India, Nepal to boost border infra, data sharing to curb smuggling

Recognising that effective border management is important in fight against smuggling, discussions also included upgrade of border infrastructure and automation and digitisation of transit processes

Fake invoices: I-T dept reopening hundreds of old assessment cases

Businesses that may have claimed fake purchases in taxman's crosshairs