These changes certainly bring India's GST a lot closer to what an ideal GST would look like, points out Karan Bhasin.
The Income Tax department is working on simplified I-T forms and aims to notify new rules by December-end to give effect to the new I-T Act, which will come into force from April 1 next year, a senior tax official said on Monday.
Former India cricketer Suresh Raina is expected to appear before the Enforcement Directorate (ED) in New Delhi on Wednesday for questioning in an alleged illegal betting app-linked money laundering case, official sources said.
The probe pertains to alleged illegal betting apps that are stated to have duped numerous people and investors worth crores of rupees or have evaded a huge amount of taxes.
Yuvraj Singh on Tuesday appeared before the Enforcement Directorate (ED) for questioning in a money laundering case linked to an online betting app named 1xBet.
Here's what you must know about the new rule, its implications, and whether it affects taxpayers' rights and privacy.
India has nearly 490 million online gamers, and an estimated Rs 10,000 crore is spent every month on online gaming transactions.
Women workers of the NDA in Bihar enforced a bandh to protest alleged abuse directed at PM Modi's mother during a Congress event. Protests were held across the state, with BJP leaders participating in sit-ins.
The Enforcement Directorate has summoned Shikhar Dhawan on Thursday for questioning in an alleged illegal betting app-linked money laundering case.
The tax department has created many circular traps -- flawed reporting formats, penalties for those who point out the flaws, and faceless assessors with no accountability. The result: Millions of taxpayers face needless harassment and procedural dead ends, highlights Harsh Roongta.
The Kerala High Court has criticized the Kerala Waqf Board's claim on land in Munambam as a 'land grabbing tactic' and upheld the government's decision to appoint an inquiry commission to investigate the ownership of the disputed area.
Actor Sonu Sood was questioned by the Enforcement Directorate (ED) in connection with a money-laundering case linked to the online betting app 1xBet. The investigation involves several celebrities and focuses on alleged tax evasion and the duping of individuals.
'We have carried out a big search operation on a big name in this industry.'
The Enforcement Directorate questioned Robin Uthappa for over eight hours and recorded his statement in a money laundering case linked to online betting app.
Assam Chief Minister Himanta Biswa Sarma says most of those present with singer Zubeen Garg in Singapore during his death have yet to respond to CID summons, and addresses related political accusations.
The Enforcement Directorate (ED) and Income Tax (I-T) Department are likely to join the Assam Police in investigating alleged organised financial crimes and acquisition of benami properties by event manager Shyamkanu Mahanta, an accused in the death of Assam's cultural icon Zubeen Garg.
Foreign companies now pay less tax relative to their earnings than at any time in more than three decades. Foreign private companies paid 24.36 per cent of their pre-tax profit as tax in 2023-24, show numbers from the Centre for Monitoring Indian Economy (CMIE).
A 10-part series that explains all you want to know about how India's EPF turns a slice of your monthly salary into long-term savings, pension, and life insurance.
In a narrow 218-214 vote, the United States House of Representatives on Thursday passed President Donald Trump's massive $4.5 trillion tax and spending bill -- his signature second-term policy package -- just ahead of the July 4 deadline.
The Supreme Court on Friday upheld JSW Steel's Rs 19,700-crore resolution plan for debt-ridden Bhushan Power and Steel Limited (BPSL), bringing down curtains to a prolonged legal battle that spanned nearly eight years.
A Delhi court has declared UK-based arms consultant Sanjay Bhandari a fugitive economic offender on an Enforcement Directorate plea.
Reels often induce the FOMO-'Act now!' mentality. But sound investing is about consistency, diversification and a long-term horizon.
Traders in Karnataka are raising concerns over GST demand notices based on UPI transaction data. A tax official defends the action, stating it's within the law and recipients can respond with documentation.
Protect your hard-earned wealth with a will -- halt family rifts and secure your children's future. Pranjali Madnani explains how.
India needs Goods and Services Tax (GST) Council-like common platforms between states and the Centre in areas such as land clearances, power, and water to fast-track infrastructure projects to achieve double-digit growth going ahead, said Praveer Sinha, chief executive officer and managing director of The Tata Power Company.
Viresh Joshi, a former chief trader and fund manager of Axis Mutual Fund, has been arrested under the anti-money laundering law in a case linked to alleged cheating of investors to the tune of Rs 200 crore by 'front-running' in trade activities, the Enforcement Directorate (ED) said on Sunday.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
The Instagram video has drawn significant attention due to the controversial backgrounds of both Lalit Modi and Vijay Mallya.
Robert Vadra, husband of Priyanka Gandhi Vadra, appeared before the Enforcement Directorate for questioning in connection with the Sanjay Bhandari money laundering case.
The Union government is expecting to rake in Rs 100-200 crore in additional revenue from Pillar Two, only under specific circumstances, a senior finance ministry official said requesting anonymity. It is proceeding cautiously, and is unlikely to implement rules anytime soon, the source said.
Taxing capital less may not lead to more investments but taxing more will drive capital away, Chief Economic Advisor V Anantha Nageswaran on Friday said during a discussion on Inequality, Economic Growth and Inclusion. While it is easy to drive capital out, bringing it back is a lot harder, said Nageswaran.
India, the biggest contributor to world demand for oil, will bring into effect in an overhaul of its drilling policy. This comes after more than a year of preparation and will boost the exploration and development of India's oil and gas sector along with increased participation by foreign drillers
'Rates go up, revenues go up, and the need for compensation diminishes.'
The income-tax (I-T) department has issued showcause notices under Section 68 of the Income-Tax Act to several startups over funds routed through Singapore, seeking explanations for investments received over the past five years, people familiar with the development said. The department is questioning the source, identity, and creditworthiness of overseas investors in these transactions, they said.
In the short run, the Trump presidency has already ensured one thing: The assumptions of the past can no longer guide the strategies of the future, points out Manish Dabhade.
Targets should avoid panicking and hang up. 'Disconnecting stops the scammers from building psychological pressure.'
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
The Enforcement Directorate on Friday detained Bahubali Shah, one of the owners of the leading Gujarati newspaper Gujarat Samachar, following a raid on their premises in Ahmedabad, sources said.
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