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IBC Success: Rs 10 Lakh Crore Cleared with 28,818 Cases Resolved
19 March 2025 at 08:50The Insolvency and Bankruptcy Code (IBC) has played a pivotal role in resolving corporate distress, with as many as 40,943 applications filed under the law since its inception in 2016.
Ayodhya's Ram Janmabhoomi Trust Paid Rs 400 Crore in GST & Taxes Over 5 Years
19 March 2025 at 08:47The Shri Ram Janmabhoomi Teerth Kshetra Trust has contributed approximately Rs 400 crore in taxes to the government over the past five years, according to Trust Secretary Champat Rai.
Direct Tax Collections Reach Rs 21.27 Lakh Crore in FY 2024-25, Up 13.13% YoY
18 March 2025 at 08:51India's direct tax collections for the financial year 2024-25 have witnessed a robust year-on-year (YoY) growth of 13.13%, reaching ₹21.26 lakh crore in net collections as of March 16, 2025, according to data from the TINMIS.
CBDT Issues FAQs on Revised Guidelines for Compounding of Offences Under IT Act, 1961
18 March 2025 at 08:50CBDT has issued Circular No. 04/2025 dated March 17, 2025, providing Frequently Asked Questions (FAQs) on the revised guidelines for the Compounding of Offences under the Income Tax Act, 1961.
Income Tax Department Raids Sri Chaitanya Group Over Alleged Rs 230 Crore Tax Fraud
18 March 2025 at 08:49The Income Tax Department on Saturday wrapped up a five-day search operation on the Sri Chaitanya group of educational institutions, spanning Hyderabad, Vijayawada, Chennai, Bengaluru and Mumbai.
GST Registration in UP: Biometric Aadhaar Authentication & Document Verification Made Mandatory
17 March 2025 at 08:35Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Uttar Pradesh
CBDT Clarifies Application of Principal Purpose Test in DTAAs
17 March 2025 at 08:34In a significant move to provide clarity on the implementation of tax treaties, the CBDT has issued Circular 01/2025, emphasizing the application of the Principal Purpose Test (PPT) under India's Double Taxation Avoidance Agreements (DTAAs).
Income Tax Department Cracks Down on Dubious Political Donations
17 March 2025 at 08:34The Income Tax (IT) department has launched a major crackdown on suspicious political donations, issuing hundreds of notices to individuals who contributed over ₹5 lakh to lesser-known political parties in the financial year 2020-21.
Income Tax Officer Caught in Bribery Case Over PAN Card Cancellation Delay
17 March 2025 at 08:34In yet another case of corruption within the Income Tax Department, a complaint has been filed against an IT officer in Jalgaon for demanding a bribe to process the cancellation of a newly issued PAN card.
Income Tax Officer Caught Taking Bribe, Posed as Another Officer to Extort Elderly Taxpayer
17 March 2025 at 08:33In a shocking case of corruption, the Central Bureau of Investigation (CBI) caught an Income Tax officer red-handed while accepting a bribe of ₹50,000 from a 62-year-old taxpayer.
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