Page 6 - Monika Yadav

India's GCCs too big to bill lightly: Backend hubs face tax claims

The big question: Are these companies paying their fair share of taxes in India? That question has triggered a series of tax disputes between foreign firms and Indian authorities

India's net GST revenue rises 1.7% to ₹1.68 trillion in July; refunds surge

July's net GST kitty growth marks the slowest pace since last February from when disaggregated data on gross and net GST collections is available. In June, net GST revenues were up 3.3 per cent

Direct tax disputes soar 198% amid rising vacancies in revenue dept

In indirect taxes, the number of cases went up from 1.13 lakh to 1.26 lakh, and the value involved more than doubled to ₹7.4 trillion during the same period

Why are GCCs in India, touted as the next big thing, in a tax tangle?

The key problem, say tax experts, lies in the classification of GCCS and what they do: while tax authorities look at the share of operational work done in India

No retrospective change in I-T Bill, only simplification: Baijayant Panda

The old law had become so complicated that even experts couldn't give the clear answer, says Panda

FM Sitharaman flays tax officials, says OGE issuance delays 'unpardonable'

On Income Tax Day, FM Nirmala Sitharaman urges decisive action on pending tax cases, refunds, and grievance redress, calling for accountability and timely implementation

I-T Bill 2025: FinMin rejects demand for time limit on tax pleas' disposal

The finance ministry said the statute only provides for the time-lines and procedural requirements and the mechanism to make appellate procedure more efficient and taxpayer friendly

New NFRA chief Nitin Gupta brings experience of policy and Investigations

Nitin Gupta, the new chief of the National Financial Reporting Authority (NFRA), brings years of experience in policy-making and investigations, particularly in tackling complex financial issues

Income Tax Bill: Select panel proposes wider transfer-pricing net

Companies wielding substantive influence with other firms may face more scrutiny

Claiming false deductions? I-T dept steps up scrutiny, warns of penalty

The warnings come as the government has given taxpayers more time to file their returns - the deadline is now September 15. But experts say this extra time comes with stricter checks

Lok Sabha select committee proposes 285 changes to Income Tax Bill, 2025

The Income Tax Bill, 2025, will replace the Income Tax Act, 1961. The government aims to implement the new Income Tax law from April 1, 2026

Fraud crackdown: 40,000 taxpayers withdraw bogus claims of ₹1,045 crore

I-T dept said move came after a series of outreach efforts, including SMS alerts, emails, and physical programmes, were made across various locations, nudging taxpayers towards voluntary compliance

India-US trade talks moving fast as fresh deadline nears: Piyush Goyal

India and US negotiators are in Washington for intense discussions, with the interim trade pact facing a critical deadline and pressure from the US on tariff concessions

Refunds account for 17.6% of India's gross tax collections in FY25

The time taken by the income-tax department to process refunds has dropped sharply

India's net direct tax receipts down 1.3%, corporate taxes slip 3.7%

Tax experts broadly attributed the decrease in the net direct tax kitty to the spike in refunds but noted there were other factors at play as well

Income Tax department releases ITR-2, ITR-3 excel utilities for AY26

This enhanced integration aims to simplify compliance for taxpayers and reduce errors in return filing

'No tax notice to Srikanth Shinde, scrutiny part of routine process'

Govt sources clarify that Srikanth Shinde, son of Maharashtra Deputy CM, has not received an income tax notice. The scrutiny was part of a routine selection

CBIC may free up importers' IGST credits to address payment issues

Short payments of IGST on imports are usually discovered during internal audits or regulatory checks, and tend to arise due to valuation differences, classification errors, or other discrepancie

June e-way bills 2.6% lower than May, indicating possible GST moderation

Intra-state e-way bills stood at 78.85 million in June, while inter-state e-way bills were at 40.60 million during the month

CBDT sets Cost Inflation Index at 376 for FY26 for capital gains

The new CII will apply to FY26 capital gains computations and benefit taxpayers selling land or buildings acquired before July 23, 2024 who opt for indexation