After issuing notices to hotels across the country for allegedly underpaying goods and services tax (GST) on restaurant services, the revenue department has now widened its scrutiny by seeking information from online travel platforms.
The principal problem lies in lack of training infrastructure and relatively lax safety standards.
While the new income tax law replaces the Income Tax Act, 1961 and omits 13 offences, 35 actions and omissions continue to attract criminal liability under 13 provisions.
'The frenzy for gold is primarily due to the uncertainty surrounding the tariff war.'
'This is not a case of tax evasion but the result of long-standing ambiguities in GST rules and unawareness.'
The CBDT is investigating Jane Street for possibly misusing the India-Singapore tax treaty.
Recalling or relabelling medicines already in the supply chain before September 22 will not be mandatory, the finance ministry said on Tuesday, issuing a fresh set of frequently asked questions (FAQs) to address industry concerns following the announcement of goods and services tax (GST) revisions.
'In case a particular industry has not passed on the benefits and if we receive complaints, we will take up the matter with the industry body concerned.'
The contrast with the old Income-Tax Act is stark. The 1961 law ran into 512,000 words; the 2025 one pares that down to 259,000. Chapters have been cut from 47 to 23, while sections have reduced from 819 to 536. One of the clearest changes is terminological. The confusing twin concepts of 'assessment year' and 'previous year' have been scrapped.
'...so cases that arose under the existing Act will be adjudicated under the old provisions.' 'Care has been taken to ensure that the new I-T Act does not give rise to interpretational issues.'
India's net revenues from the Goods and Services Tax (GST) rose at a three-month high pace of 10.7 per cent in August even as growth in gross collections slowed to 6.5 per cent from 7.5 per cent in the previous month, thanks to a nearly 20 per cent decline in refunds to taxpayers during the month.
'States should be compensated for the revenue loss for at least five years or beyond till the revenue stabilises.'
A Pakistan that is more secure in its relations with the US is also one that might well wish to indulge in another cross-border misadventure.
'We want to clear these pending refunds so that no issues arise once the new I-T Act takes effect.'
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
'There is no retrospective changing of the law, only its simplification.'
'With new technology and stricter checks, cheating on taxes is just not worth it anymore.'
'As a result of delays, the desired reliefs are not coming for taxpayers.'
The time taken by the income-tax department to process refunds has dropped sharply from 93 days in 2013.
'The government, if it deems fit, will incorporate the changes in the Bill, take approval from the Cabinet before moving the bill for consideration and passage in the Lok Sabha.'
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances