Creative Bharat
Big GST relief soon! Prime Minister Narendra Modi in his Independence Day speech announced that the Goods and Services Tax (GST) burden on the common man is set to come down from this Diwali with next-generation reforms slated to be rolled out. PM Modi stressed the need for the next phase of GST reforms, which […]
The Central government has proposed two tax rates of 5% and 18% in the revamped goods and services tax (GST), slated to replace the current indirect tax regime by Diwali this year, according to media reports. The Central government has proposed two tax rates of 5% and 18% in the revamped goods and services tax […]
The Income Tax Department has released the Excel utility for Income Tax Return (ITR) Form 6 for the assessment year 2025-26, enabling eligible companies to file their returns for the financial year 2024-25.“Kind Attention Taxpayers! Excel Utility of ITR-6 for AY 2025-26 is now live and available for filing.” tax department posted on X. ITR-6 […]
The ministry of finance has released details on the proposed GST reforms, saying that a two-slab GST structure is being mulled. (AI image) Big GST relief soon! Prime Minister Narendra Modi in his Independence Day speech announced that the Goods and Services Tax (GST) burden on the common man is set to come down from […]
PM Modi promised a Diwali gift for people in the form of GST reforms and lower tax burden. (AI image) In a big cheer for the middle class and common man, Prime Minister Narendra Modi on Friday announced upcoming Goods and Services Tax (GST) reforms. Speaking from Red Fort on the occasion of the 79th […]
New Delhi, The government has introduced four amendments to the Income Tax Act, 1961, relevant for FY 2025-26, but included in the Income Tax Bill, 2025, applicable for FY 2026-27, Union Finance Minister Nirmala Sitharaman has said. The major amendment grants tax exemption on dividends, interest, and long-term capital gains to sovereign wealth funds and […]
Infosys faces penalty from Inland Revenue Authority of Singapore. The company announced the same in a stock exchange filing. Inland Revenue Authority of Singapore has imposed a penalty of 97,035 Singapore dollars (over Rs 66 lakh) on Infosys. In a regulatory filing on August 13, Infosys said, “This is to inform that the Company has […]
But many taxpayers make the mistake of not mentioning exempt incomes in their income tax return. (AI image) ITR filing FY 2024-25: PPF interest is tax free. So is the interest coming from tax free bonds. The maturity proceeds of life insurance plans are also exempt from tax. But while the taxman lets you pocket […]
Amid preparations for new Income Tax legislation and other reforms in indirect tax administration, the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes (CBIC) face significant staff shortages. The CBDT has a vacancy rate of about 34 per cent, while the CBIC has a 39 per cent vacancy rate, relative […]
India’s GDP could fall by 0.02 to 0.03 per cent between 2026 and 2030 due to revenue outflows if the European Union’s Carbon Border Adjustment Mechanism (CBAM) is applied without a domestic carbon pricing system, according to a new working paper. This would also curb household consumption, with urban families experiencing the most impact due […]
