News
GST Refund Update for Recipients of Deemed Exports – May 2025
GSTN has introduced key updates to the refund filing process under the category “On account of Refund by Recipient of Deemed Export.” What’s New: No Tax Period Selection: Taxpayers no longer need to file refund claims in tax period order or select "From" and "To"...
Updates in GST Refund Filing Process – May 2025
GSTN has simplified the refund process for the following categories: Export of Services (with tax payment) SEZ Supplies (with tax payment) Deemed Exports (by supplier) Key Changes: No Tax Period Selection Needed: Taxpayers can now file without selecting a 'From' and...
CBDT notifies ITR-Form 6 for AY 2025-26 vide Notification No. 44/2025 dated 06.05.2025.
Key updates:1. Schedule-Capital Gain split for gains before/ after 23.07.2024 (post changes in Finance Act, 2024)2. Capital loss on share buyback allowed if corresponding dividend income is shown as income from other sources (post 01.10.2024)3. Reference of sec 44BBC...
UP Govt To Build 12 Modern E-Way Hubs On Purvanchal And Bundelkhand Expressways Featuring EV Stations, Hotels And More | Details
The Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) is set to develop 12 expressway hubs along the Purvanchal and Bundelkhand Expressways to boost passenger convenience and infrastructure. Of these, eight hubs will be built along the Purvanchal...
New ITR-2 form notified for income tax return filing AY 2025-26: What’s new for taxpayers? Check top points
CBDT has notified the new ITR-2 Form for AY 2025–26, introducing key updates. These include separate disclosure of capital gains, permission to claim capital loss on share buybacks effective from October 1, 2024, and an increased threshold of ₹1 crore for reporting...
Income Tax Department Notifies ITR-5 Form For AY 2025-26: Know Key Changes And Who Can File It
The Central Board of Direct Taxes (CBDT), on May 1, 2025, officially announced the release of the updated Income Tax Return Form ITR-5 for the Assessment Year 2025–26. This latest version of the form includes several important modifications that align with the changes...
New ITR Forms 1 and 4 notified for FY 2024-2025. Check key changes, who can file
The Income Tax Department has released ITR Forms 1 and 4 for AY 2025–26. The last date to file returns for FY 2024–25 is July 31, 2025. ITR-1 is for resident individuals with income up to ₹50 lakh from salary, one house property, and other sources. ITR-4 is for...
GST collections in April 2025 hit record high of Rs 2.37 lakh crore; experts say sign of Indian economy’s underlying strength
GST revenue reached an all-time high of ₹2.37 lakh crore in April, marking a 12.6% year-on-year increase, according to official government data released on Thursday. This surpasses the previous second-highest collection of ₹2.10 lakh crore recorded in April 2024,...
After Tamil Nadu, UP set to have footwear policy: ‘Aimed at boosting exports’
The Uttar Pradesh government is preparing to approve the UP Leather and Footwear Policy-2025. Officials stated that the draft has been finalized and will soon be presented to the Cabinet for approval. READ MORE AT
India’s foundational AI model to support reasoning in Indic languages, will be ready in six months: Sarvam AI’s Vivek Raghavan
India is creating an indigenous foundational AI model, trained on a wide range of Indian datasets and designed to enable reasoning in Indic languages, according to Vivek Raghavan, founder of Sarvam AI — the company chosen by the Government of India to develop...