News
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...
Government Issues Rules for GST Appellate Tribunals; Mandates E-Filing and Hybrid Hearings
The government has notified the rules for the Goods and Services Tax Appellate Tribunal (GSTAT), making e-filing and hybrid hearings mandatory. Urgent matters filed before noon will be listed the following day, ensuring faster dispute resolution. With benches set up...
Several new items come under TCS as I-T widens tax net
The government has introduced a 1% Tax Collected at Source (TCS) on luxury items valued above ₹10 lakh, effective immediately. This measure is aimed at expanding the tax base and curbing underreported income by closely monitoring high-value purchases such as luxury...
Centre Approves UP’s First Electronics Manufacturing Cluster In Greater Noida, Aims To Feature Factories, Skill Centres, And More | Details
The Central Government has given the green light for Uttar Pradesh’s first Electronics Manufacturing Cluster (EMC), set to be developed in Greater Noida. Spanning 206 acres within the Yamuna Expressway Industrial Development Authority (YEIDA) region, the project will...