Day: June 2, 2025
*******India’s health insurance sector faces growth and profitability challenges: Report – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/indias-health-insurance-sector-faces-growth-and-profitability-challenges-report/article69647529.ece A recent report by Elara Capital has highlighted that both growth and profitability in the sector are being affected, which may redefine the
India tops ChatGPT usage: AI Trends Report – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/info-tech/india-tops-chatgpt-usage-ai-trends-report/article69647711.ece India now accounts for 13.5% of global ChatGPT users pushing the US to second at 8.9% and Indonesia at 5.7% users The number
*******ITR-1, ITR-4 utilities released: How to use them for easier tax filing | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/itr-1-itr-4-utilities-released-how-to-use-them-for-easier-tax-filing-125060200522_1.html Here’s how you can easily fill and file your tax returns offline before uploading them to the portal through the newly released excel
*******Faked a tax deduction? New ITR rules could slap you with 200% penalty and prosecution – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/faked-a-tax-deduction-new-itr-rules-could-slap-you-with-200-penalty-and-prosecution-478605-2025-06-02 Education and home loan benefits under Sections 80E, 80EE, and 80EEA now require detailed disclosures, including lender names, loan account numbers, and sanction
*******ITR filing for AY2025-26 begins for THESE taxpayers: Over 54K income tax returns filed in 3 days – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/itr-filing-for-ay2025-26-begins-for-these-taxpayers-over-54k-income-tax-returns-filed-in-3-days-3865347/ This year there has been a significant delay in both notifying the ITR forms and updating online & offline utilities to support tax
*******GST ITC Reversal: Fire, Theft & Damaged Goods
Clipped from: https://taxguru.in/goods-and-service-tax/gst-itc-reversal-fire-theft-damaged-goods.html Summary: Under Section 17(5)(h) of the CGST Act, Input Tax Credit (ITC) is restricted for goods lost, stolen, destroyed, written off, or disposed
*******AIS, TIS and form 26AS in income tax
Clipped from: https://taxguru.in/income-tax/ais-tis-26as-income-tax.html “Understand the significance of Annual Information System (AIS), Taxpayer Information Summary (TIS), and Form 26AS in income tax. Learn how these tools help