The Centre is all set to introduce the new Income Tax Bill 2025 to replace the existing Income Tax Act of 1961. This significant tax reform is aimed at streamlining the complex tax filing process, albeit with stricter regulations, particularly concerning crypto assets and digital transactions. One of the key amendments in the bill is … Read more
The finance ministry could take forward further simplification and rationalisation of the tax deducted at source regime in the Union Budget 2025-26 while a more comprehensive revamp of the Income Tax Act, 1961, could take longer. According to sources, the Budget is likely to announce further streamlining of TDS rates with a more simplified slab … Read more
India’s Goods and Services Tax (GST) system has come under sharp criticism, with former Infosys CFO Mohandas Pai taking aim at its ambiguities. “This is silly and complex. It will lead to tax terrorism,” Pai wrote on X, adding that it is making citizens “hostages to rent-seeking officials” and creating endless disputes. His message to … Read more