Page 12 - Monika Yadav

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

Govt may fast-track food, medicines, farm trade under AEO framework

The AEO programme is implemented by the Central Board of Indirect Taxes and Customs (CBIC) under the aegis of the World Customs Organization's SAFE Framework

Govt sets April 30 deadline for filing declarations under Vivad se Vishwas

The scheme offers taxpayers the opportunity to settle disputed tax demands by paying the full disputed amount while availing a waiver on interest and penalties

Net GST collection surges by 7.3% to Rs 1.76 trillion in March 2025

The gross GST collection - the amount before adjusting for refunds - rose by 9.9 per cent in March to Rs 1.96 trillion

CBDT signs record 174 APAs in FY25, including India's 1st multilateral APA

An APA helps taxpayers and tax authorities agree on how to price transactions between related companies in different countries

New financial year set to bring key tax, pension, and MSME reforms

The new income tax slabs under the new tax regime have been modified to increase the basic exemption limit from ₹3 lakh to ₹4 lakh

Public Accounts Committee flags mismatches in GST worth Rs 16.6K cr in FY21

The PAC said the inconsistencies highlight serious inefficiencies in the GST system's data validation and reconciliation processes, as GSTR-9 is auto-populated from GSTR-3B