If you’ve ever bought groceries, shopped for gadgets, or filled up your car, you’ve indirectly dealt with GST. But now, India has rolled out GST 2.0, and it’s a big change—designed to make taxes simpler, life a little cheaper, and the economy a bit stronger. So, what exactly is GST 2.0? Think of GST…
New Delhi: As global headwinds mount and trade tensions with the United States deepen, the Indian government is preparing a bold revamp of its tax system to keep domestic demand strong. Prime Minister Narendra Modi has made a announcement last week saying that a simplified goods and services tax (GST) regime would be rolled out…
Madurai: The Madurai Corporation has announced that it will organize a special two-day camp on August 25 and 26 to address tax-related and civic service concerns of residents. The camp will be held at the Piller Hall in Arignar Anna Maligai, from 10 a.m. to 2 p.m. on both days. As said by the officials…
New Delhi, August 12, 2025 — The government has approved four important amendments to the Income Tax Act 1961. They set to take effect from the financial year 2025-26 but will formally embed in the new Income Tax Bill, 2025. This will apply from FY 2026-27. Finance Minister Nirmala Sitharaman said the changes has bought…
The Lok Sabha on Monday approved the Income Tax (No 2) Bill, 2025, marking a significant step as this would replace the complex, six-decade-old Income Tax Act of 1961. It will make it a more streamlined and comprehensible framework. The bill, which Finance Minister Nirmala Sitharaman has been titled as a “S.I.M.P.L.E” law, passed without…
New Delhi — If you think you can hide your income to pay less tax or get a bigger refund, think again. The Income Tax Department is now using Artificial Intelligence (AI) to spot taxpayers who don’t report their income correctly, and it’s already brought in a huge amount of extra revenue. In the last…
New Delhi — The Lok Sabha has passed the updated Income Tax (No. 2) Bill, 2025, which shortens and simplifies the country’s tax law but also gives income tax officials stronger powers during search operations. One of the most talked-about changes is that officials will now be able to access personal emails, social media accounts,…
Mumbai — The Securities and Exchange Board of India (SEBI) has proposed new rules to make it easier for legal heirs to get securities passed on to them, without facing unnecessary tax troubles. At present, when the original holder of securities like shares or bonds dies, the nominee — the person officially named to receive…
Auditing is an essential activity to provide transparency, responsibility, and conformity in any organization. Two major forms of audits internal audit and external audit are important in evaluating and enhancing an organization’s financial and operational practices. Knowledge of the difference between internal and external audit, their purposes, and their significance ensures companies have corporate governance…
Compliance Audit Meaning Compliance audit refers to a formal examination that evaluates if an organization is conforming to external laws, internal policies, rules, or contractual requirements. The meaning of compliance audit is more about ensuring that everything and every process goes in line with the set standards of a specific industry or regulatory body. It…