Page 13 - Monika Yadav

I-T Bill may not impact revenue collection: MoS finance Pankaj Chaudhary

The Bill retains existing technological reforms, including initiatives such as pre-filled income tax returns (ITRs), the Annual Information Statement, and faceless proceedings

Can GST rate rationalisation make India's tax system truly simple?

The Union government plans to propose GST rate and slab cuts to the GST Council. Can this reform make India's indirect tax system truly simple?

CBDT campaign leads to disclosure of over Rs 29,000 crore foreign assets

As a result of this campaign, 6,734 taxpayers also revised their residential status from resident to non-resident

No recovery proceedings on donuts GST dispute, says Bombay High Court

The court also allowed the petitioner to seek a stay in case it receives any recovery notice from the revenue department

Govt may ease norms to allow 2-month window for ITC on credit notes

Move would give taxpayers flexibility and preclude a financial burden

North Block to Sebi's hot seat: Market's new watchman Tuhin Kanta Pandey

Pandey's tenure as the DIPAM secretary also saw the public listing of Life Insurance Corporation of India and the government moving away from disclosing disinvestment targets

India's economy unshaken by global risks: CEA V Anantha Nageswaran

The CEA noted that urban demand has strengthened while inflation is on a downward trend

Madras High Court rules in favour of 12% GST for railway contracts

The case involved STS-KEC, a joint venture between Stroytechservice LLC (Russia) and KEC International Limited, which was awarded a contract for railway infrastructure projects

Income-Tax Bill empowers taxman to ask for access to electronic systems

Scrutinising crypto, other virtual digital assets may become easier

FM Nirmala Sitharaman introduces new Income-Tax Bill in Lok Sabha

FM urges Speaker Om Birla to constitute a select panel to examine the proposed law

Income Tax Bill 2025 to replace 1961 Act, introduces concept of 'tax year'

Deductions from salaries, such as standard deduction, gratuity, and leave encashment, have now been consolidated in one section instead of being scattered across various sections

Net direct tax collection rises 14.7% to Rs 17.8 trillion until Feb 10

Corporate tax during the same period grew at a slower pace of 6.1 per cent to Rs 7.8 trillion, while the securities transaction tax grew 65.05 per cent to Rs 49,201 crore

I-T return filings rise nearly 4% to 83.9 million in FY25: Govt data

To include more taxpayers within the income tax framework, the scope of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) has been broadened, Chaudhary said

Govt plans SLP against Gujarat High Court GST ruling on leasehold transfers

The High Court in January had ruled that GST did not apply to the transfer of leasehold rights to a third party for land granted by the Gujarat Industrial Development Corporation

Union Cabinet approves new income-tax Bill; law set to be simpler

In addition, the official stated that in the new income tax bill, authorities have not been given excessive powers

CGST amendment on credit note: Compliance burden on suppliers may be higher

Credit note is given by the seller to the buyer in cases of sales returns, discounts and overbilling to reduce the amount payable by the buyer or adjust it against future payments

New income-tax Bill likely to receive Cabinet approval on Friday

New bill will not impose any additional taxes or create new burdens, says finance secretary

Budget 2025-26: Govt may clarify transfer pricing changes in 3 months

Transfer pricing refers to the actual price charged in transactions between related entities within the same multinational firm

Govt not worried about rupee volatility: Finance and Revenue Secy Pandey

This statement comes after the rupee fell to a record low of 87.29 against the US dollar, depreciating by 67 paise in early trading

Revised Customs duty now closer to Asean average: CBIC Chairman Agarwal

Sanjay Kumar Agarwal spoke about the need to amend rules in the Central Goods and Services Tax Act to overturn the Supreme Court's (SC's) order in the Safari Retreats case