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taxpayers who are yet to submit their returns need to act before the July 31 deadline. Missing the due date can lead to additional costs, including late filing fees and interest liabilities.
Obtaining a Goods and Services Tax (GST) registration is supposed to be free. In practice, it is anything but free. Across several North Indian states, a genuine taxpayer may spend anywhere between ₹5,000 and ₹30,000 merely to obtain a GST…
The Anti-Corruption Bureau has caught a 44-year-old woman GST officer and a private tax consultant while allegedly taking a bribe of Rs 60,000 to unblock a trader’s Input Tax Credit (ITC) in Maharashtra’s Jalna district, the ACB said.
Maharashtra has emerged as the largest contributor to states’ tax revenue in recent years since the implementation of the Goods and Services Tax (GST), supported by its high domestic consumption and large services sector, according to a report by India Ratings and Research (Ind-Ra).
The anti-evasion wing of the CGST Commissionerate , Kolhapur, launched a major crackdown on Wednesday, conducting simultaneous searches and inspections at the establishments of seven prominent builders and developers across the city.
A Mumbai taxpayer has secured relief from a ₹17.41 lakh penalty after the Income Tax Appellate Tribunal (ITAT) held that an inadvertent filing mistake by a chartered accountant’s office, backed by a sworn affidavit, did not amount to misreporting of income.
The Parliament was informed on Monday that up to 576 persons reported gross total income of Rs 100 crore or more in their income tax returns for the 2025-26 assessment year, representing a four-fold increase over the previous five years.
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the sale of a redeveloped flat qualifies as a long-term capital gain under the Income Tax Act, 1961, making the taxpayer eligible for indexation benefits and exemption under Section 54F, Indian Express reported.
A key panel under the Goods and Services Tax (GST) Council is likely to consider suggestions from the industry on transfer of unutilised input tax credit (ITC) within a corporate group and giving exemption to intra-group corporate guarantees from any…
Union Finance Minister Nirmala Sitharaman on Sunday urged income tax officials to make it easy for people to access government services, saying citizens should not have to ‘run from pillar to post’ to get work done that is within the department’s authority.