The Government clarified that banks can levy charges for non-maintenance of minimum balance as per RBI guidelines. Such fees must remain reasonable, transparent, and aligned with service costs.
The GST Council reduced the tax rate on adult and clinical diapers from 12% to 5%. The Government clarified that a complete GST exemption has not been recommended.
The GST Council reduced tax on hotel accommodation up to ₹7,500 per day from 12% with ITC to 5% without ITC. The move aims to simplify taxation and reduce consumer costs.
The exemption for disability pension has been preserved under the Income-tax Act, 2025 to maintain the relief previously available under earlier tax laws.
The government informed Parliament about measures taken with RBI and other agencies to identify and block illegal loan apps operating through unauthorized platforms.
The government informed Parliament that taxpayer-specific details of income tax searches cannot be disclosed due to confidentiality provisions under the Income Tax Act.
The government informed Parliament that mule accounts are increasingly used in cyber frauds. RBI has introduced AI-based tools and stricter monitoring to detect suspicious transactions.
The proposed rules establish a comprehensive conduct framework for CCI employees, including integrity, conflict-of-interest controls, and restrictions on disclosures of confidential information.
The document outlines a certificate format where the recipient confirms reversal of Input Tax Credit related to credit notes issued for post-supply discounts and sales returns under GST law.
The Income Tax Department acknowledged incorrect ‘significant transaction’ details in some advance tax reminder emails. Taxpayers are advised to ignore the earlier communication and verify details on the Compliance Portal.
