Page 15 - Monika Yadav

Budget 2025: New presumptive tax scheme for non-residents in electronics

Announced by Finance Minister Nirmala Sitharaman, this initiative is part of India's strategy to position itself as a global hub for electronics system design and manufacturing

Eco Survey primer: Dragon's growing shadow, sowing seeds of success, more

Quoting the Chinese proverb, "May we live in interesting times!" the Survey noted that it is especially relevant in today's turbulent world

No GST on penal fees for loan non-compliance, says finance ministry

The RBI in its circular had directed regulated entities to replace "penal interest" with "penal charges" for borrowers who fail to comply with loan terms

From Tuhin Kanta Pandey to Ajay Seth, meet FM Sitharaman's Budget team

Except for the economic affairs secretary and chief economic adviser, Sitharaman will have a new team of bureaucrats who will help her chart the strategy for the upcoming budget

US-India Tax Forum proposes simplifying TDS, customs tariff structure

To establish GIFT City as a global financial hub, the Forum has proposed tax exemptions on dividends and financial transactions

Supreme Court stays ruling favouring Tiger Global in Flipkart deal

India-Mauritius DTAA conundrum: The HC's decision in August '24 had affirmed Tiger Global's eligibility for capital gains tax exemptions under the DTAA

Union Budget 2025-26: Customs duty hike likely on key pharma, RE products

Key components in the renewable energy industry such as special bearings, gearboxes, yaw components, wind turbine controllers are currently subjected to a concessional customs duty of 5 per cent

India's 6% equalisation levy on ads may face US scrutiny under Trump memo

The equalisation levy was introduced at 6 per cent in FY17 for digital advertising services

Union Budget 2025-26: 25% income tax slab, higher rebate on the cards

The upcoming Budget may raise the rebate further, potentially making income up to Rs 10 lakh tax-free

Faceless tax assessments: Benefits, challenges, solutions for improvement

How can govt improve upon the faceless tax assessment system

Income-Tax department recovers Rs 1,070 crore from wrongful claims

The taxpayers filed updated income tax returns (ITRs) for assessment years from FY23 to FY25 after doing the corrections

Delhi High Court exempts electricity commissions' fees from GST

The judgment came in response to show cause notices (SCNs) issued by tax authorities demanding GST on regulatory fees under the Central GST (CGST) Act, 2017, and the Integrated GST (IGST) Act, 2017

Net direct tax mopup rises 16% to Rs 16.9 trillion until January 12

Corporate tax during the same period grew at a slower pace, 8.1 per cent, to Rs 7.7 trillion. The securities transaction tax grew 75.2 per cent to Rs 44,538 crore

GST notices worth Rs 1.12 trillion on online gaming companies stayed

SC mandates consolidation of all such cases by next hearing on March 18

Centre extends GST return filing deadline for GSTR-3B and GSTR-1

Additionally, the deadline for the October-December 2024 quarter has also been adjusted, with varying due dates for different classes of registered persons

E-way bills in December at second highest level in two years, shows data

E-way bills are mandatory for the movement of consignments worth more than Rs 50,000 and are, therefore, an early indicator of demand and supply trends in the economy

Finance secretary Tuhin Kanta Pandey takes charge as revenue secretary

A 1987-batch Indian Administrative Service (IAS) officer from the Odisha cadre, Pandey had been serving as the DIPAM secretary since October 24, 2019

FinMin files review petition in Supreme Court's Safari Retreats case ruling

The move follows the Goods and Services Tax (GST) Council's recommendation last month for a retrospective amendment to the Central Goods and Services Tax (CGST) Act

SC to hear online gaming firms' urgent plea for interim relief on GST

In July 2023, during its 50th meeting, the GST Council categorized online games-both skill-based and chance-based-under the 28 per cent GST slab

Gujarat HC provides relief, says no GST on transfer of state land leases

The court's decision not only alleviates the financial strain on affected businesses but also addresses long-standing concerns regarding double taxation