Month: March 2025
Over 30k taxpayers declare foreign assets, income of Rs 30,300 cr due to nudge campaign
Finance Minister Nirmala Sitharaman on Tuesday said more than 30,000 taxpayers have revised their I-T returns or filed belated returns and declared additional foreign assets and income of about Rs 30,300 crore…
Nestle India gets ₹69 lakh tax penalty, says operations remain unaffected
Nestle India Ltd on Wednesday said it has received a tax penalty of ₹69 lakh. In an exchange filing, the company said the order has been passed under Section 28 (4) read with Section 28AA of Customs Act, 1962.
I-T deptt offices to remain open on March 29-31: CBDT
Income tax department offices across the country will remain open on March 29 to March 31 to facilitate taxpayers in completing pending tax related business for the fiscal year. The ongoing financial year 2024-25 ends on March 31.
Why SC ruling on GST error corrections is a major relief for businesses
The Supreme Court recently held that companies can rectify clerical or arithmetical errors in Goods and Services Tax (GST) filings and they should not be penalised for doing this.
UP Juice Seller Shocked After Allegedly Receiving Rs 7 Crore Income Tax Notice
A middle-aged juice seller, who runs a small kiosk at the district court compound here, was left in shock after allegedly receiving an income tax notice seeking an outstanding payment of Rs 7.79 crore.
‘WhatsApp messages helped uncover ₹200 crore in tax evasion’: Nirmala Sitharaman defends Income Tax Bill
Citing WhatsApp messages that helped unearth ₹200 crore in unaccounted money linked to crypto assets, Union finance minister Nirmala Sitharaman on Tuesday defended the provisions of the new Income Tax Bill, 2025.
Income Tax Department issues notices to taxpayers over non deduction of TDS on rent of ₹50,000 or more per month
The Income Tax Department has issued notices to Taxpayers who have been paying a rent of ₹50,000 or more per month and not deducted Tax Deducted at Source (TDS) while remitting the amount to landlord, a tax expert said.
Clarification relating to bill of entry amendment
Office of the Commissioner of Customs (IMPORT-I) issued Public Notice -09/2024 dated 25.07.2025 providing clarifications relating to procedure for filing and processing of bill of entry amendment requests for various types and situations.
Parliamentary panel flags ‘non-contribution’ by private sector employers in employees’ fund
A Parliamentary Committee on Thursday (March 27, 2025) pointed out non-payment of contribution by private sector employers towards their employees’ provident fund and asked the government to take up the matter with EPFO in case any such grievances are received.