In a major crackdown on tax evasion, the CGST department has unearthed a massive GST fraud of over Rs 100 crore, operated through a network of fake companies from a single shop located in a Faridabad mall. The fraud, involving fictitious scrap trading and fraudulent input tax …
The Ministry of Corporate Affairs (MCA) has officially constituted an Election Tribunal to resolve disputes arising from the Council elections of the Institute of Chartered Accountants of India (ICAI) held in December 2024. The notification was published in the Gazette of India on April 17, 2025. …
In a significant clarification aimed at fostering ease of doing business, the Income Tax Department on Friday reiterated that DPIIT-recognised startups are eligible for multiple tax exemptions, and investments made in such companies are not subject to scrutiny, provided certain conditions are fulfilled. Responding to a tweet on …
In a strong move to uphold professional ethics and integrity, the Institute of Chartered Accountants of India (ICAI) has ordered the suspension of two of its members- CA Praveen Murarka and CA Subhash Chander Sharma for varying periods following investigations into professional and other misconduct. A. CA Praveen Murarka Suspended …
As the financial year nears its end and salaried professionals across India gear up for tax filings, an unusual and baffling incident has emerged from Gujarat. A tea stall worker, Asif Mohammed, has reportedly received an income tax notice demanding a staggering ₹115 crore in tax …
Claims that Government is considering levying Goods and Services Tax (GST) on UPI transactions over ₹2,000 are completely false, misleading, and without any basis The claims that the Government is considering levying Goods and Services Tax (GST) on UPI transactions over ₹2,000 are completely false, misleading, …
The Select Committee of the Lok Sabha on the proposed Income-Tax Bill, 2025 convened a crucial meeting today at Parliament House, New Delhi. Chaired by BJP Member of Parliament Baijayant Panda, the 31-member panel is actively reviewing the draft legislation aimed at overhauling and streamlining India’s income tax laws. …
In a unique and persuasive pitch to the government, the Indian Ice-cream Manufacturers’ Association (IICMA) invoked a quote famously attributed to Steve Jobs – “If you want to make everyone happy, don’t be a leader, sell ice cream” – to make a case for reducing the GST …
In a bizarre twist of events, Chandrashekhar Kohad, a petty contractor originally from Nagpur and currently living in Multai, Madhya Pradesh, has been served a staggering Rs 314 crore income tax demand – an amount he says he cannot even comprehend. The tax notice stems from …
The Income Tax Department is rapidly upgrading its surveillance and compliance ecosystem, powered by Artificial Intelligence (AI) and advanced data analytics. According to leading tax experts, the department’s intensified focus on high-value transactions and digital footprints marks a significant shift in India’s tax administration strategy. Tax …
