India is adopting a cautious stance on implementing the OECD-led Pillar 2 tax regime, which mandates a 15% minimum corporate tax rate for multinational enterprises (MNEs) with global revenues exceeding €750 million.
India's fiscal deficit for the first half of FY25 (H1FY25) was reported at ₹4.7 trillion, or 29.4% of the full-year Budget Estimate (BE) of ₹16.16 trillion, as per data from the Controller General of Accounts (CGA).
India recorded significant growth in its Goods and Services Tax (GST) collections for October 2024, showcasing a strong economic momentum.
CBDT through the Directorate of Income Tax (Systems), issued Notification No. 5/2024 on October 30, 2024, mandating the electronic submission of certain forms listed in Appendix-II of the Income Tax Rules, 1962
The Central Board of Direct Taxes (CBDT) has recently issued Circular No. 14/2024 on October 30, 2024, which allows for the condonation of delay in filing income tax returns for Assessment Year (AY) 2023-24
India's Vision India@2047, a blueprint to transform the nation into a $30 trillion economy by 2047
The Central Board of Direct Taxes (CBDT) has issued notification no. 116/2024 dated October 18, 2024 notifying the tolerance range for AY 2024-25.
The Central Bureau of Investigation (CBI) has officially filed a chargesheet against five individuals, including the former Principal Commissioner of Income Tax for Patna and Dhanbad, in connection with an alleged Rs 10 lakh bribery case.
Extending Diwali greetings, Agrawal underscored the values of "perseverance, integrity, and wisdom" as guiding principles for department officials
India has seen a remarkable rise in high-income individual income tax return (ITR) filings, with over 2.38 lakh taxpayers reporting incomes above ₹1 crore in the first half of the current fiscal year (April-September 2023).
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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