Next-gen GST reforms will make eco transparent: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman announced upcoming GST reforms aimed at creating a more open and transparent economy, reducing compliance burdens for small businesses. The proposed ...
Group of ministers on GST to meet next week
GST Overhaul: Are Simpler Taxes on the Horizon? The Goods and Services Tax (GST), India’s most ambitious indirect tax reform, is once again under the ...
Jane Street not cooperating with authorities; I-T probe faces hurdles: Report
Jane Street is reportedly not cooperating with the Income Tax Department’s investigation into alleged tax evasion and market manipulation. Access to the company’s servers is ...
Tax evasion or underreporting: CBDT sees whopping Rs 20,000 crore income tax recovery; almost double of last year
The CBDT collected ₹20,000 crore in pending dues in the first quarter, doubling last year’s figures, driven by income-tax demand notices. With a recovery target ...
Buying farm land to legitimise undisclosed funds? New Tax tribunal ruling a big blow; here’s how these deals work
Tax authorities are scrutinizing agricultural land transactions used to conceal unaccounted money. A recent ITAT verdict, addressing a tax evasion case, could disrupt this practice. ...
Reporting of foreign assets, income up in FY24: Finance minister
The finance ministry reported a significant 45% increase in foreign asset and income disclosures, with 2.3 lakh taxpayers reporting in 2023-24. Amidst reports of increased ...
SNB report: Indian funds in Swiss banks triple to Rs 37,600 crore in 2024; individual deposits up only 11%
Indian money in Swiss banks more than tripled in 2024, reaching a three-year high of nearly Rs 37,600 crore, driven by increased funds through local ...
Crypto investments under scanner: CBDT launches probe into unaccounted income; high-risk investors in VDA may face scrutiny
The CBDT has initiated a probe into potential tax evasion and money laundering through virtual digital asset investments. Discrepancies between ITR filings and TDS data ...
