Latest posts
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Empowering the Underserved: Providing Loans to MSME Business Owners and Employees in the Unorganized Sector
Understanding the Unmet Needs of MSMEs and the Unorganized Sector Micro, small, and medium enterprises (MSMEs) along with employees in the unorganized sector represent a significant portion of the economic landscape. This sector plays a crucial role in job creation and economic development; however, it faces numerous challenges that hinder its growth and sustainability. The…
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GSTN releases list of 5 approved mobile apps for fast verification of GST invoices, easy input tax credit claim
GST invoice verification: New advisory by GSTN in respect of availability of five official apps for e-invoice verification. Experts say that these apps solve a lot of problems like faster verification of e-invoices which may lead to faster claim of input tax credit and also help in reducing litigations and subdue the problem of fake…
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I-T’s About Her: Women taxpayers on the rise
The number of women taxpayers has been steadily increasing, with 22.9 million women filing income tax returns in the assessment year (AY) 2023-24, up from 18.3 million in AY 2020, as per data from the Lok Sabha. Over the past five years, the number of women tax filers has grown by 25.3%.
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Income Tax probe finds 500 ‘actionable’ cases of undisclosed Dubai assets held by Indians
More than 500 cases of undisclosed immovable properties held by Indians in Dubai have been identified by the income-tax department, with Delhi raids alone uncovering unaccounted transactions worth over ₹700 crore. Germany provided information on properties owned by Indians in the Middle East, revealing over a thousand such assets.
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Ease compliance for MSMEs with simplified GST and reduced TDS: ASSOCHAM-EGROW Study
A joint ASSOCHAM-EGROW study highlighted the challenges faced by Indian MSMEs and proposed solutions for their growth, including reduced corporate tax, simplified GST, and MSME-focused financial solutions.
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Nirmala Sitharaman & Co said to be evaluating windfall tax
India’s finance ministry is considering scrapping the windfall tax on domestic crude oil output, according to Tarun Kapoor, an adviser to the Indian prime minister.
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How will the new PAN card system work?
By integrating multiple functions and enhancing data security, the government aims to provide faster, more accurate services to taxpayers while advancing the broader goals of digitalization and sustainability.
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GSTAT bench rollout will clear backlog and ease judicial pressure, say experts
Experts have applauded the government’s move to operationalise GSTAT benches, highlighting improved accessibility and reduced backlog, but urge swift implementation to resolve ongoing disputes and avoid further judicial pressure.
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Simplified I-T Act likely to take longer
Reform of dispute resolution mechanisms, simplification of litigation management, overhaul of rules dealing with transfer pricing and tax deduction at source are some of the top focus areas in the simplification exercise, the official said, adding that wider consultation is needed with the law ministry on provisions of the Benami and Black Money Acts. "Some…
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Dabur India shares in focus after receiving Rs 320.6 crore GST demand
Dabur India faces a confirmed GST demand of ₹320.6 crore plus interest from the CGST Commissionerate, Chandigarh. While the penalty has been dropped, the company is reviewing the order and exploring legal options. Dabur assures this won’t affect operations and the financial impact is limited to the final tax liability.