In a move to simplify India’s direct tax laws, the Indian government has withdrawn the Income-Tax Bill, 2025, which was originally introduced on February 13. A new and revised version of the bill is set to be tabled on August 11. The decision to withdraw the initial draft came after a Select Committee, led by … Read more
The Income Tax Department is stepping up its game, using Artificial Intelligence (AI) to keep a closer eye on taxpayers. They’re building detailed profiles by tracking your online activity, like how often you check your Annual Information Statement (AIS), and flagging high-value transactions that don’t match your tax returns. AI Uncovers Discrepancies and Targets Misleading … Read more
India’s wealthiest individuals are employing a strategic financial maneuver: earning their fortunes in India while opting to invest and ultimately retire abroad. This trend, highlighted by finfluencer Akshat Shrivastava, is largely driven by India’s tax policies. Why India is for Earning For the ultra-rich, operational income derived from businesses in India, such as ports and … Read more
Finance Minister Nirmala Sitharaman is set to meet with top officials from the Income Tax Department on June 23, following her recent engagement with indirect tax officials. This high-level meeting aims to tackle pressing issues like delayed income tax refunds, a backlog of legal disputes, and improving overall administrative accountability. Key Discussion Points A major … Read more