In a Lok Sabha response, the government clarified that GST raids are intelligence-based and state-specific, with no central record of raid numbers or directives on raid quotas.
In a Lok Sabha response, the government clarified its stance on VDAs, stating no plans to revise crypto taxes or launch ETFs, while outlining existing regulations and investor warnings.
Starting August 1, 2025, UAN allotment and activation will be mandatory through the UMANG app using Aadhaar-based Face Authentication Technology (FAT). This simplifies the process for employees.
RBI includes Deogiri Nagari Sahakari Bank and Ahmednagar Merchant’s Co-op Bank in Second Schedule of the RBI Act, 1934, per notifications dated July 25, 2025.
Bombay High Court rules reassessment notices by Jurisdictional Assessing Officers are invalid under the Faceless Assessment Regime, emphasizing adherence to Section 151A and its Scheme.
Ministry of Defence released an updated Security Manual for Licensed Defence Industries (SMLDI), 2025, which supersedes 2014 version and mandates compliance for all licensees.
Income-Tax Bill 2025: The Select Committee debated expanding the “accountant” definition. The Ministry of Finance upholds the Chartered Accountant restriction, citing statutory audit roles.
India’s New Income-Tax Bill 2025: Introduced to simplify the nation’s direct tax laws, this bill aims to reduce complexity, enhance readability, and lower compliance costs for taxpayers.
Finance Ministry exempts specified income of Andhra Pradesh Pollution Control Board from tax under Section 10(46). Applies from AY 2022-23 to 2026-27.
Explore global tax-to-GDP ratio trends and their implications for India, including definitional differences, revenue components, and ongoing reforms aimed at enhancing resource mobilization.
