Monika Yadav

I-T dept flags discrepancies in returns, extends deadline to December 31

The notices have been issued under Section 142(1) of the Income-tax Act, which empowers the department to seek information or documents during assessment proceedings

Sudden I-T 'NUDGE' unsettles taxpayers ahead of December 31 deadline

CBDT is reaching out via SMS and email under its NUDGE campaign, urging identified taxpayers to review potentially ineligible deductions for AY 2025-26 and revise returns by December 31, 2025

MSME body pitches unified regulator; seeks banking oversight shift

According to Fisme, the Indian banking system operates under conditions of monopolistic competition, with high switching costs giving banks significant market power over borrowers, particularly MSMEs

I-T dept flags ₹5,500 cr in suspicious political donation-linked tax claims

Investigations found that intermediaries were advertising "guaranteed refunds" in cinema halls and on social media platforms, luring taxpayers into making non-genuine claims in return for a commission

GST 2.0 pushes eway Bill volumes to third-highest ever at 129.8 mn in Nov

E-way bill generation climbed to 129.8 million in November, the third-highest monthly total so far, rising 28 per cent year-on-year as trade activity strengthened and controls to curb misuse tightened

GSTAT state benches may miss December rollout as staffing, infra lag

The rollout of GST appellate tribunal benches is likely to miss the December deadline as staffing gaps and infrastructure delays stall operations, leaving lakhs of tax disputes unresolved

Dividend tax on foreign payouts to be capped at treaty rate: Bombay HC

Bombay High Court says dividend tax paid by Indian firms to foreign parents must be capped at treaty rates, a ruling that could open large refund claims for multinationals

Deloitte India launches AI-based tax research platform Tax Pragya

Deloitte has launched Tax Pragya, an AI-based tax research and summarisation platform trained on 1.2 million cases and Deloitte content to support income tax, GST and transfer pricing work

Budget 2026-27: Integrated Customs platform on cards in digitisation push

ICEGATE enables e-filing and customs payments by traders; RMS automates risk-based scrutiny; and ICES handles backend assessment and clearance workflows at Customs locations

FM Nirmala Sitharaman stresses need for steady, consistent defence funding

LS clears Health Security se National Security Cess Bill

New cess revenue to be shared with states, says FM Nirmala Sitharaman

Parliament passes Central Excise (Amendment) Bill 2025

IMF hasn't questioned GDP growth figures, says FM Nirmala Sitharaman

India got a 'C' grade only for its national accounts data because the base year used is still 2011 to 2012

'Tobacco levy neither a new tax nor a cess': FM Nirmala Sitharaman

While the minister said the Centre had surrendered its power to levy excise duty on tobacco in 2017, excise duty did continue after GST - though at a nominal level

Centre moves tobacco, pan masala levy Bills, seeks to retain mopup

New excise and cess proposals aim to boost central revenue as GST compensation period ends; states won't share proceeds

FM flags global tax risks from digitisation, new financial products

At Global Forum, India urges stronger transparency, confidentiality systems to tackle evolving financial structures

Parliament clears Manipur GST Amendment Bill; FM explains key reforms

Parliament clears the Manipur GST amendment, aligning the state with national GST reforms, including track-and-trace, simplified voucher rules, clarified definitions and uniform appeal procedures

Tax turbulence: Revenues take a hit in first full month of GST 2.0

Other macro indicators give mixed signals; car sales stay strong

Bills to replace GST compensation cess may be tabled in Lok Sabha on Monday

Demerit goods to face a new levy to finance national security and public health

Vivek Chaturvedi appointed CBIC chairman, to take charge on December 1

Chaturvedi's service record shows that his deepest and longest experience lies in the Directorate of Revenue Intelligence (DRI)

CBDT to nudge 25K high-risk taxpayers to disclose foreign assets

Move aims to nudge 25,000 taxpayers to disclose foreign assets and income