The new financial year has already started on April 1 and if you are getting ready to file your Income Tax Return (ITR) for the year gone by, there’s something important you need to know. The Income Tax Department is expected to soon release the updated filing forms for the financial year 2024-25, or Assessment Year 2025-26.
The Central Board of Direct Taxes (CBDT) notified the Income Tax Return form-2, or ITR-2, for FY2024-2025 on May 5, 2025. ITR 2 is relevant for the majority of taxpayers, especially salaried employees and pensioners. The form will be effective retrospectively from April 1, 2025, i.e., since the beginning of the current financial year.
We shall be enhancing services on the GST portal on 6th May’25 12:00 AM onwards. GST Portal services will not be available until 6th May’25 06:00 AM.
Britannia Industries on Thursday said it has received an order from the GST authority demanding over Rs.25 crore pertaining to classification of a product sold by it and input tax credit in respect of certain goods.
GST collections soared to a record high in April, reaching Rs 2.37 lakh crore, according to official data released on Wednesday.
In recent years, wealthy Indian families have increasingly looked at gifting offshore funds to their children settled abroad—for education, property purchases, or even investor immigration programs like the EB-5 visa in the U.S.
Chief minister Rekha Gupta on Friday said the Delhi government will soon introduce a one-time Goods and Services Tax (GST) amnesty scheme which will provide relief to traders from pending dues .
CS. Dr. M. Govindarajan presenting the compendium of appeal before GST Appellate Tribunal
Delhi Chief Minister Rekha Gupta on Saturday stressed on making the Goods and Services Tax (GST) system “faceless” and transparent, while highlighting that Rs 80,000 crore of GST dues of the Delhi government are pending due to disputes and other reasons.
Central Board of Direct Taxes (CBDT) issued notification no. 43/2025 dated 03.05.2025 to further amend the Income-tax Rules, 1962, to prescribe ITR-2
