Tax Earth

01/04/2026

🚨 Important Update on Income Tax e-Pay Challan Facility! 🇮🇳

The Income Tax Department has introduced a new integrated payment module 💻

👉 Now taxpayers can make payments under:

🔹 Income-tax Act, 1961
🔹 Income-tax Act, 2025

✅ All from a single interface
✅ Faster & more seamless payments
✅ Better compliance experience

📢 A major step towards simplifying the tax system in India!

25/08/2025

23/08/2025

GST rate cuts coming soon!

The Goods and Services Tax (GST) Council will meet for a two-day session starting September 3, as per the notice issued. The meeting comes within days of PM Narendra Modi announcing next-generation GST reforms and GST rate cuts in his Independence Day speech.

23/08/2025

ITR filing alert: Report income from Dream11, Rummy, gaming apps or face tax action
It is mandatory to report such earnings --- even if the overall income is exempt under the current tax brackets.

President Droupadi Murmu signed the Online Gaming Bill into law on Friday evening — paving the way for a strict crackdown on harmful online money gaming services. She also gave assent to the Income Tax Act of 2025 which will come into effect from April next year. The two developments are likely to have a significant impact on certain laws under the older Act from 1961 — including clauses which pertain to gaming income. These will have no effect on those currently filing their returns for the now-concluded FY25

30/05/2024

Be careful at the time of filing Income tax Return .

Due date of filing ITR - 31st July (Non Audit cases )

*CBDT* notifies 56 types of Incomes & Expenses to be reflected in *AIS* of IT Portal:

1. Salary
2. Rent received
3. Dividend
4. Interest from savings bank
5. Interest from deposit.
6. Interest from others.
7. Interest from income tax refund
8. Rent on plant & machinery
9. Winnings from lottery or crossword puzzle u/s 1158B
10. Winnings from horse race u/s 115BB
11. Receipt of accumulated balance of PF from employer u/s 111
12. Interest from infrastructure debt fund u/s 115A(1)(a) (ia)
13. Interest from specified company by a non-resident u/s 115A(1)(a)(aa)
14. Interest on bonds and government securities
15. Income in respect of units of non-resident u/s 115A(1) (a)(ab)
16. Income and long-term capital gain from units by an offshore fund u/s 115AB(1)(b)
17. Income and long-term capital gain from foreign currency bonds or shares of Indian companies u/s 115AC
18. Income of foreign institutional investors from securities u/s 115AD(1) (1)
19. Income of Specified Fund from securities u/s 115AD(1)(1)
20. Insurance commission
21. Receipts from life insurance policy.
22. Withdrawal of deposits under national savings scheme
23. Receipt of commission etc. on sale of lottery tickets
24. Income from investment in securitization trust
25. Income on account of repurchase of units by MF/UTI
26. Interest or dividend or other sums payable to government
27. Income of specified senior citizen
28. Sale of land or building
29. Receipts for transfer of immovable property.
30. Sale of vehicle
31. Sale of securities and units of mutual fund
32. Off market debit transactions
33. Off market credit transactions
34. Business receipts
35. GST turnover
36. GST purchases
37. Business expenses
38. Rent payment
39. Miscellaneous payment
40. Cash deposits
41. Cash withdrawals
42. Cash payments
43. Outward foreign remittance/purchase of foreign currency
44. Receipt of foreign remittance
45. Payment to non-resident sportsmen or sports association u/s 1158BA
46. Foreign travel
47. Purchase of immovable property.
48. Purchase of vehicle
49. Purchase of time deposits
50. Purchase of securities and units of mutual funds
51. Credit/Debit card
52. Balance in account
53. Income distributed by business trust
54. Income distributed by investment fund
55. Donations received
56. Receipt on transfer of Virtual Digital Assets
57. ⁠Winning from Online Games u/s 115 BBJ

19/05/2023

Reserve Bank of India has advised banks to stop issuing Rs 2000 denomination banknotes with immediate effect though banknotes in Rs 2000 denomination will continue to be legal tender. RBI to withdraw Rs 2000 currency note from circulation but it will continue to be legal tender.

12/05/2023

Be ready for the GST inspection from 15th May to 15th July 2023.

11/05/2023

E Invoice Limit reduced in GST.

17/02/2023

HUGELY AWAITED CHANGE INTRODUCED IN GSTR 3B* Negative Values are now permissible to be reported in Table 4 (ITC) of GSTR-3B.