By: AdminDate: January 24, 2025Categories: Tax NewsReading Time: 4 Min Introduction to the Survey Findings Smallcase has unveiled its Managers Budget 2025-26 Survey Report, which gathers insights from over 100…
Proceedings Under Section 73 of CGST Act on Wrong Credit Availment Held Not Maintainable
The Hon’ble Kerala High Court, in the case of Rejimon Padickapparambil Alex v. Union of India [WA No. 54 of 2024 dated November 26, 2024], held that the availment of…
CBDT Amends Income-tax Rules to Define Presumptive Taxation Conditions for Non-Resident Cruise Ship Operators
By: AdminDate: January 22, 2025Categories: CBDT Notification, Press ReleaseReading Time: 4 Min Introduction: New Tax Regime for Cruise OperatorsThe Finance (No. 2) Act, 2024, introduced a presumptive taxation regime designed…
India’s Third Attempt at Tax Reform: A Critical Moment for Change
By: AdminDate: January 22, 2025Categories: Income Tax News, NewsReading Time: 4 Min Introduction: Mounting Taxpayer ConcernsAs India prepares for its third attempt to reform the six-decade-old tax code, dissatisfaction among…
Budget 2025: GTRI Recommends Raising Income Tax Exemption to ₹5.7 Lakh, Simplifying TDS
By: AdminDate: January 22, 2025Categories: Income Tax News, NewsReading Time: 4 Min Introduction: Key Proposals for a Fairer Tax SystemThe Global Trade Research Initiative (GTRI) has proposed significant reforms for…
Tata Steel Files Curative Petition with Supreme Court Over Tax Imposition on Mineral-Bearing Land
By: AdminDate: January 20, 2025Categories: Tax NewsReading Time: 4 Minutes Tata Steel, a prominent player in the steel industry, filed a curative petition with the Supreme Court of India on…
Income Tax Department Targets Rs 170 Crore Tax Evasion by Super-Class Contractors
By: AdminDate: January 20, 2025Categories: Income Tax News | NewsReading Time: 4 Minutes The Income Tax (I-T) department conducted simultaneous searches at 44 locations linked to eight super-class contractors on…
Budget 2025: Income Tax Slabs for FY 2025-26 – Comparing Old and New Tax Regimes
By: AdminDate: January 14, 2025Category: Budget 2025-26Reading Time: 4 Minutes Introduction The Finance Act 2024 brought significant changes to the income tax system, amending Section 115BAC. The new tax regime…
Income Tax Department Releases Updated Excel-Based Utility for ITR-2 and ITR-3
By: AdminDate: January 6, 2025Categories: Important News | Income Tax NewsReading Time: 4 Min The Income Tax Department has launched an updated version of the Excel-based utility for filing ITR-2…
Direct Tax Vivad Se Vishwas Scheme: Submit Declaration by Dec 31 to Avoid Higher Tax Costs
By: AdminDate: December 30, 2024Categories: Income Tax News | NewsReading Time: 4 Minutes The Vivad Se Vishwas Scheme, introduced during the Budget 2024 speech by Union Finance Minister Nirmala Sitharaman,…