Latest update 18.04.2025

A. Tax in Media

E-way bill closed FY25 with all-time high generation of 12 cr plus

Indicating very high year-end business activities, e-way bill (EWB) generation surged 20 per cent high in March to reach 12 crore plus for the first time since its introduction in 2018.

Tariffs capable of replacing income tax? Trump says there’s a ‘real chance’

US President Donald Trump said in an interview with Fox News that there is a “real chance” revenue generated from tariffs could eventually replace the income tax system in the United States. Drawing on historical precedent, Trump argued that between 1870 and 1913, tariffs served as the primary source of government revenue and coincided with a period when the nation was “relatively the richest”.

Returns and Forms Applicable for Salaried Non-Resident Individuals for AY 2025-26

Non-Resident Individual is an individual who is not a resident of India for tax purposes. In order to determine whether an Individual is a Non-Resident or not, his residential status is required to be determined u/s 6 of the Income Tax Act, 1961 as given below:

Labourer Gets Shocking 115.90 Crore IT Notice In Gujarat

A daily wage labourer in Gujarat got an income tax notice of a whopping Rs 115.90 crore and brought the matter to the notice of authorities, requesting a quick solution.

No GST on development agreement for transfer of development rights: HC

The Nagpur bench of the Bombay high court has held that Goods and Services Tax (GST) is not applicable to the transfer of development rights (TDR) or floor space index (FSI) as part of a development agreement.

Bhiwani auto driver receives ₹37 crore income tax notice

A week after a barber from Sirsa received a notice of ₹37.87 crore from the income tax department, an auto driver in Bhiwani too received a notice of ₹31.67 crore from the income tax department.

MSTC faces ₹178 crore demand from tax dept for assessment year 2024-25

MSTC Limited receives Notice of demand under section 156 of the Income Tax Act, 1961 from Income tax department, according to the regulatory filing.

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