The Confederation of Indian Industry (CII) is advocating for tax code simplifications and sustained capital expenditure (capex) in the upcoming FY26 Budget. In a recent meeting with Revenue Secretary Sanjay…
AY25 ITR Filing Set to Surge, Yet ITR-1 Growth Slows
With the AY25 Income Tax Return (ITR) filing deadline approaching, the number of returns filed is likely to surpass last year's. However, ITR-1 filings—the most widely used form—show little to…
Last Call for Businesses to Correct GST Compliances and Avail ITC for FY24
With less than three weeks remaining, businesses have a final chance to claim pending Input Tax Credit (ITC) and make necessary adjustments in Goods and Services Tax (GST) returns for…
Justice Sanjiv Khanna Sworn In as 51st Chief Justice of India
New Delhi — Justice Sanjiv Khanna is now the 51st Chief Justice of India, following Justice DY Chandrachud’s tenure. President Droupadi Murmu administered his oath at Rashtrapati Bhavan. Justice Khanna…
Union Budget 2025-26 Wishlist: India Inc.’s Key Proposals
Industry leaders, including CII, FICCI, and ASSOCHAM, have submitted their recommendations for India's Union Budget 2025-26. Their proposals center on lowering tax rates, simplifying compliance, supporting MSMEs, and bolstering infrastructure.…
India’s Direct Tax Collection: Revised Estimates to Remain Unchanged for FY 2024-25
The Centre is likely to maintain its direct tax revenue target at ₹22.07 lakh crore for FY 2024-25, as it presents the revised estimates in February 2025. Here’s a breakdown…
Supreme Court Orders Liquidation of Jet Airways: A Turning Point in the Airline’s Troubled Journey
In a significant legal development, the Supreme Court of India has directed the liquidation of Jet Airways, marking the end of a lengthy and contentious period for the once-prominent airline.…
GST Waiver Scheme Under Section 128A: A Major Tax Relief Initiative
In a significant move to reduce tax disputes and offer relief to taxpayers, the GST Council in its 53rd meeting on June 22, 2024, recommended a waiver of interest and…
SBI Life Insurance Faces ₹27.6 Lakh Tax Demand with Penalty for FY 2020-21
SBI Life Insurance has received a tax demand notice under Section 73 of the TNGST and CGST Act, 2017, from the Deputy Commissioner (CT) in Tamil Nadu. The order, issued…
Complete Guide to GST Registration for Indian Businesses
The Goods and Services Tax (GST) is an indirect tax system launched in July 2017 to streamline taxation across India. Replacing multiple older taxes like excise duty, VAT, and service…