Creative Bharat
The government, in the ensuing Budget session of Parliament, is likely to introduce a new income tax bill which seeks to simplify the current I-T law, make it comprehensible and reduce the number of pages by about 60 per cent. Finance Minister Nirmala Sitharaman in her July Budget had announced a comprehensive review of the […]
NEW DELHI: Finance minister Nirmala Sitharaman is set to introduce a bill for a new direct tax law in the budget session, which will focus on simplification of the provisions, doing away with the ones that are redundant and attempt to make the language more layman friendly.The committee tasked with the revision, is deciding if […]
MUMBAI: Startups and venture capital (VC) firms are seeking an easier tax regime and measures to boost availability of domestic capital in the upcoming Budget. Parity between foreign and domestic funds in terms of taxation is required to attract foreign investors to Indian alternative investment funds (AIFs), said Siddarth Pai, founding partner at 3one4 Capital […]
MUMBAI: Some of Mumbai’s top real estate developers and government corporations, among others, have been served notices for defaulting on property tax collectively amounting to ₹900 crore in 2024. Mumbai, India – 17, Jan 2025: A view of the Kamla Mill Compound at Lower Parel, in Mumbai, India, on Friday, Jan 17, 2025. (Photo by […]
The fiscal deficit in India is expected to shrink continuously, driven by growing tax revenues, according to the latest World Bank report. The report noted that this trend is anticipated to contribute to fiscal consolidation policies of the government. It said “In India, fiscal deficits are expected to continue shrinking, largely on account of growing […]
Over 90,000 taxpayers have withdrawn wrongful tax deductions amounting to over ₹1000 crore, government sources said on Thursday. “These assessees have paid additional taxes,” said a source. These incorrect deductions are claimed under Section 80C (deposit/investment in notified instruments), 80D (health insurance premium), 80E (interest paid on the Education loan availed for higher studies), 80G […]
As India gears up for the Union Budget 2025-26, the US-India Tax Forum–a specialized Tax Policy Forum under the US-India Strategic Partnership Forum (USISPF)–has presented an ambitious set of recommendations aimed at bolstering the nation’s global economic standing. Comprising around 200 member companies, the Forum serves as a platform for dialogue on critical tax policy […]
Highlights Hindustan Zinc Limited has been imposed a penalty of ₹ 41,10,88,258 and ₹ 51,45,01,846 along with tax demand and applicable interest for the financial years 2018-19 and 2019-20, respectively, by the Office of the Deputy Commissioner of State Tax, Udaipur. The company plans to challenge the order regarding the Input Tax Credit dispute under […]
PB Fintech The Directorate General of GST Intelligence (DGGI), Gurugram, conducted a search at a subsidiary of PB Fintech Limited on January 13, 2025, as disclosed in the company’s stock exchange filing. However, the filing did not specify which of its brand offices was raided. PB Fintech, known for flagship brands such as Policybazaar and […]
New Delhi, Jan 14 (IANS) India’s net direct tax collections recorded a robust 15.88 per cent jump to Rs 16.90 lakh crore during April 1, 2024-January 12, 2025 of the current financial year compared to the same period of the previous financial year, according to latest figures compiled by the Income Tax Department. New Delhi, […]
