GST
States Demand Compensation For 5 Years Over Likely Loss of Rs 2 Lakh crore a Year
With the Centre’s proposed two-slab indirect tax structure in the next-gen GST reforms, Opposition-ruled states on Friday demanded that all states need to be compensated for 5 years for the likely Rs 2 lakh crore a year revenue loss due to the government’s move.
DGGI Ahmedabad unearths ₹140 cr tax evasion in online money gaming case
The Directorate General of GST Intelligence (DGGI), Ahmedabad zonal unit, has detected a tax evasion case worth ₹140 crore allegedly by a company providing online money gaming services.
Insurers warn GST exemption without removing inverted duty structure may raise costs
A brewing row between the insurance sector and policymakers over the Goods and Services Tax (GST) shows growing tension. While the government’s proposal to exempt health and individual term life insurance premiums (for individuals/families) from the standard 18% levy offers hope to policyholders, industry stakeholders are raising alarm over limitations that could flip intended relief into financial strain.
Income tax
Understanding F&O Taxation: Why Even Losses Must Be Filed
Retail participation in the futures and options (F&O) segment has surged in recent years, but many traders continue to grapple with the complexities of taxation.
Simpler, smarter ITR forms ahead as New Income Tax Act kicks in from April
Filing income tax returns (ITR) is set to become simpler, smarter, and more user-friendly as the Income Tax Department prepares for the rollout of the new Income Tax Act, 2025, which will take effect from April 1, 2026.
Book: Income Tax Act 2025 with E-Book
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