Corporate Tax Growth Hits 7.5%, Overtakes Personal Tax
India's corporate tax collections grew 7.5% to Rs 9.94 lakh crore by mid-December, surpassing personal income tax growth. Net direct tax kitty crosses Rs 17 lakh crore. Read the full analysis.
Category : GST & Taxation
Sonipat Trader Held in Rs 118 Cr GST Evasion Case
CGST Rohtak arrests Sonipat pharma trader Pawel Garg for alleged GST evasion of Rs 21.30 crore on sales of Rs 118.49 crore. Raid uncovers unaccounted transactions. Read the full details.
Tax Alerts on Foreign Assets Sent to Thousands, NRIs Affected
Income Tax Department issues bulk alerts via NUDGE 2.0, asking taxpayers to disclose foreign assets by Dec 31. Many NRIs and frequent travelers received notices. Experts advise prompt revision of ITR.
How Foreign RSUs are Taxed for Indian Residents
Indian residents selling US RSUs face 12.5% long-term capital gains tax. Learn the rules for reporting foreign assets and handling FAIU summons for NRIs.
NRI Tax Guide: Gifting Money & Selling Property
Returned NRI wants to gift money from foreign account to daughter abroad. Also, an NRI selling Dubai property seeks clarity on TDS certificate. Expert explains tax implications.
ITR Refund Delay: Reasons for No Interest & Status Check
Still waiting for your ITR refund? Learn why delays happen, when you won't get 6% interest, and how to check your refund status online. Essential guide for Indian taxpayers.
Delhi HC Asks Customs to Respond to IndiGo's Rs 900 Cr Plea
Delhi High Court directs customs authorities to respond to IndiGo's petition seeking a refund of over Rs 900 crore in import duty. The case involves aircraft engines and parts. Read the latest developments.
Direct Tax Collection at ₹17 Trillion, Growth Slows to 8%
India's net direct tax revenue rose 8% to ₹17 trillion in April-December, missing the 13% target. Personal income tax growth slowed due to new slab rates. Can the government meet its full-year goal?
Net Direct Tax Collection Grows 8% to Rs 17.04 Lakh Crore
India's net direct tax collection for FY25 grows 8% to Rs 17.04 lakh crore. Gross collections surge 24% to Rs 19.45 lakh crore, while refunds slow. Read the full analysis.
Direct Tax Collections Up 8%, Refunds Down 13.5%
India's net direct tax collections grew 8% to Rs 17.05 lakh crore till Dec 17, boosted by a sharp 13.5% fall in refunds. Advance tax up 4.27%. Read the full analysis.
I-T Raids on Mumbai Food Firms, Shilpa Shetty-Linked Outlet
Income Tax Department conducts searches on multiple Mumbai food & beverage companies for alleged tax evasion. Actor Shilpa Shetty's co-owned restaurant among premises covered. Read the full details.
VMC Pauses Coercive Action on Temples After Seers' Protest
Varanasi Municipal Corporation assures no coercive action against religious sites after seers protest integrated tax bills. Commissioner clarifies tax exemptions for charitable institutions.
I-T Raids on Food Firms, One Linked to Shilpa Shetty
Income Tax Department conducts nationwide raids on food companies, including a brand promoted by Shilpa Shetty. Search operations span multiple cities, uncovering alleged financial irregularities.
I-T Raids Mumbai F&B Firms, Shilpa Shetty Restaurant Searched
Income Tax Department raids over 20 Mumbai food & beverage firms for tax evasion. Searches include a restaurant co-owned by Shilpa Shetty. Details on the ongoing investigation here.
CAG: 38% Staff Vacancy in CBIC Audit Hits GST Scrutiny
CAG report reveals a 38% staffing shortage in CBIC audit wings, leading to a gap between planned and completed GST audits. Recovery rates remain low. Ministry urged to fill vacancies.
New Buyback Tax Rules: Impact on Shareholders Explained
Finance Act 2024 rewired share buyback taxation, shifting the burden to shareholders from Oct 1. Experts warn it taxes notional income and creates distortions. Learn the new tax implications.
Income Tax Dept: Recent Notices Are Advisory, Not Enforcement
The Income Tax Department clarifies recent taxpayer communications are for voluntary compliance. Review your AIS and respond via the Compliance Portal by Dec 31, 2025, if needed.
IT Dept: SMS to taxpayers are for voluntary correction
Income Tax Department clarifies recent SMS/email alerts are advisories for taxpayers to voluntarily review & correct ITR discrepancies. Last date for belated ITR is Dec 31, 2025.
Kerala's Rs 2,000 Cr Burden from MGNREGS Changes
Kerala Finance Minister warns new central MGNREGS rules will cost state Rs 1,600-2,000 crore extra. Experts call for equitable financial federalism. Read more.
Kerala's Rs 2,000 Cr MGNREGS Burden After Centre's Funding Cut
Kerala Finance Minister K N Balagopal warns that new central MGNREGS changes will cost the state Rs 1,600-2,000 crore extra. Experts call for equitable financial transfers. Read more.
IT Raids at Shilpa Shetty's Bengaluru Pub After FIR
Income Tax officials conducted raids at Bastian Garden City, a Bengaluru pub co-owned by Shilpa Shetty, following an FIR by Cubbon Park police for operating beyond permissible hours. Details inside.
RPF seizes Rs 38.20 lakh unaccounted cash on Kanpur train
Railway Protection Force recovers Rs 38.20 lakh in unaccounted cash from a passenger on Netaji Express at Kanpur Central. The money has been handed over to the Income Tax Department for investigation. Read the full details.
IT Dept's NUDGE Campaign: Correct Tax Returns by Dec 31
Income Tax Department's NUDGE campaign gives taxpayers until Dec 31 to correct returns after checks revealed under-reporting of property, bank deals. Act now.
Raghav Chadha's Tax Reform Pitch in Parliament
AAP MP Raghav Chadha urges FM for reforms to reward domestic investors, ensure full GST pass-through, and introduce a Tokenisation Bill. A push to boost India's economy.
GST Cuts' Full Impact on FMCG Sector Still Unclear
Nearly three months after GST rate reductions, the FMCG sector awaits a significant demand boost. While auto and durables saw immediate gains, consumer goods growth remains muted. Industry leaders predict clarity in coming quarters.
Kanpur: 4 held for Rs 37.87 crore GST fraud using fake firms
Kanpur police and tax officials bust a gang that created fake companies to evade GST worth Rs 37.87 crore. Four arrested, laptops and phones seized. Read the full investigation details.
Missed 15 Dec Advance Tax? Know Penalty & Rules
Third advance tax instalment for FY 2025-26 due 15 Dec. Missing it attracts interest under Section 234C. Know calculation, exemptions for seniors, and how to pay by March.
489 Fake GST IDs Found, Rs 3,000 Crore Tax Evasion
Government uncovers 489 bogus GST registrations using forged IDs, evading Rs 3,000 crore. Data analytics drive intensifies against tax fraud networks. Read the full report.
489 Fake GST IDs with Forged PAN, Aadhaar Found
Government detects 489 fake GST registrations using forged PAN & Aadhaar, leading to ₹3,000+ crore tax evasion. Learn about the crackdown and new safety measures.
92 Daily Revenue Orders in Kochi, 50% for Loan Defaults
Kochi district issues an average of 92 revenue recovery orders daily. Nearly half target bank loan defaulters, while others are for unpaid taxes. Learn the causes and impact.
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