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The introduction of modern online tax payment systems in India has brought about enhanced accessibility, efficiency, and empowerment for both taxpayers and the government in fulfilling their civic duties. This transformation has revolutionized the way taxpayers and governmental bodies interact, simplifying the process of paying taxes and rendering it faster and more secure. In this […]
The GST authorities have noticed that numerous individuals, whose GST registrations were previously revoked due to fraudulent activities, persist in operating their businesses and levying taxes without restraint. In light of information from reliable sources, the central government, in coordination with state governments, is poised to take stringent measures against these taxpayers to address this […]
In a case where, the taxpayer, Roshni Sharma’s PAN card was used by a fraudster to claim exemption. Most interestingly, she has never rented out any property throughout her life. However, during a recent review of the income tax portal, she discovered that her Permanent Account Number (PAN) had been misused by an individual to […]
Following investigations into mobile phone manufacturers, laptop companies have come under scrutiny by tax authorities. According to credible sources, both income tax and indirect tax enforcement units are accusing laptop companies of evading taxes. Insiders familiar with the matter have revealed that intelligence agencies, including the Directorate of Revenue Intelligence (DRI), Directorate General of GST […]
According to recently released time series data from the Income-tax department, the combined number of income tax returns (ITRs) submitted by personal income tax filers (PIT), which includes both individuals and Hindu Undivided Family (HUF), experienced a substantial 94% increase during the initial nine years of the Narendra Modi government, spanning from FY15 to FY23. […]
In a noteworthy ruling, the Supreme Court has determined that the Indian Institute of Technology and the National Institute of Technology will fall within the purview of the Mega Service Tax Exemption Notification originally issued by the Department of Revenue in 2012 (subsequently amended and clarified by following notification in 2014). The case centred around […]
The Jharkhand High Court in a recent ruling, overlooked a writ petition filed via a proprietorship firm engaged in civil contract work, contesting the Order-in-Original (OIO) passed by the Additional Commissioner of Central GST & CX, Ranchi. It was noted that the taxpayer had been furnished with numerous opportunities to attend proceedings before the adjudicating […]
An internal assessment by the income tax department reveals that insurance companies and their intermediaries have allegedly evaded approximately ₹30,000 crore in income tax since July 1, 2017, by underreporting income and fabricating expenses. The department has started taking action by issuing tax demand notices to these entities to recover the outstanding amounts, which may […]
The Tamil Nadu Government has introduced a new Tax Arrears Conciliation Scheme, known as the Samadhan Scheme, to facilitate the resolution of pending tax dues amounting to approximately Rs. 25,000 crore. The majority of these dues are related to the previous Tamil Nadu Value Added Tax (VAT) and other legacy tax legislation. Available Payment Methods […]
