Financial advisor Akshat Shrivastava has sparked a debate about the cost of living in India, particularly for the affluent. He challenges the common belief that India is an inexpensive country, arguing that high taxes and the desire for a “global standard lifestyle” make it surprisingly costly. The Real Cost of Luxury Shrivastava illustrates his point … Read more
The Proposed GST Shake-Up and States’ Concerns A major overhaul of the GST system is on the table, with the central government proposing to simplify the current four-tier tax structure into just two slabs: 5% and 18%. This would replace the existing 5%, 12%, 18%, and 28% rates. A separate 40% slab is also being … Read more
The Directorate General of GST Intelligence (DGGI), Ahmedabad zonal unit, has detected a ₹140 crore tax evasion case involving a company that provides online money gaming services. Here are the key details of the case: Investigation and Findings: The DGGI is a law enforcement agency under India’s Ministry of Finance, responsible for detecting and preventing … Read more
Supreme Court Quashes Tax Prosecution, Fines Income Tax Department ₹2 Lakh In a significant ruling, the Supreme Court of India quashed a tax prosecution and imposed a fine of ₹2 lakh on the Income Tax Department. The Court found that the department acted in “blatant disregard” of its own statutory instructions, specifically a series of … Read more
Tax season for Assessment Year 2025-26 is in full swing, and if you’re a senior citizen, it’s crucial to know about the income tax benefits available to you. One of the most significant provisions is Section 80TTB, which offers a substantial deduction on your interest income. What is Section 80TTB? Introduced in 2018, Section 80TTB … Read more
Navigating your first time filing an income tax return (ITR) can feel overwhelming, but the Income Tax Department has made the process simpler with a detailed guide. Before you can file, you need to register on the e-filing portal. The department shared a step-by-step video on X to walk you through it. How to Register … Read more
Starting September 2025, several financial rules are set to change, impacting individuals and businesses across India. Here is a simplified summary of the key updates you should be aware of: 1. ITR Filing Deadline Extended The deadline for filing income tax returns (ITR) for the financial year (FY) 2024-25 has been extended. The new due … Read more
Switching from the new tax regime to the old one for the Assessment Year (AY) 2025-26 is a common question, and the process depends entirely on what kind of income you have. The default tax regime is the new one, so you must actively choose to switch if you want to file under the old … Read more
प्रवर्तन निदेशालय (ईडी), चंडीगढ़ क्षेत्रीय कार्यालय ने 26.08.2025 को धन शोधन निवारण अधिनियम (पीएमएलए), 2002 के तहत एक अनंतिम कुर्की आदेश (पीएओ) जारी किया है, जिसमें क्यूएफएक्स/वाईएफएक्स/यॉर्करएफएक्स/बॉटब्रो घोटाला मामले में आरोपी व्यक्तियों, एजेंटों और उनके परिवार के सदस्यों की 9.31 करोड़ रुपये की संपत्ति कुर्क की गई है। यह घोटाला नवाब उर्फ लवीश चौधरी द्वारा … Read more
It appears you want me to rewrite the provided text about delayed income tax refunds. The original text is a mix of a news report and advice. I’ll restructure it to be a clear, helpful guide for a taxpayer experiencing this issue. Income Tax Refund Delayed? Here’s Why and What to Do Are you one … Read more
