10 friendly moves taken by government for small taxpayers: Know how these will simplify ITR and GST
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Sat, Aug 16, 2025 | 03:22 PM IST

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10 friendly moves taken by government for small taxpayers: Know how these will simplify ITR and GST10 friendly moves taken by government for small taxpayers: Know how these will simplify ITR and GST

The finance ministry has implemented several measures to simplify income tax ITR filing and GST processes for small taxpayers, including online ITR filing, updated Form 26AS, and auto-generated GST returns with editing facility. Threshold limits for the GST composition scheme have been increased, and UPI/IMPS options are available for GST payments.

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What is the last date to file ITR for professionals, other taxpayers?What is the last date to file ITR for professionals, other taxpayers?
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No income tax rebate under Section 87A even if income is less than Rs 7 Lakh under new tax regime in this situation, point out CAsNo income tax rebate under Section 87A even if income is less than Rs 7 Lakh under new tax regime in this situation, point out CAs
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Four critical changes in Income Tax Act: Standard deduction, UPS, income tax search, and other changes to be applicable in FY 2025-26Four critical changes in Income Tax Act: Standard deduction, UPS, income tax search, and other changes to be applicable in FY 2025-26
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Commuted pension from pension funds to get full tax deduction, new version of Income Tax Bill, 2025 clarifiesCommuted pension from pension funds to get full tax deduction, new version of Income Tax Bill, 2025 clarifies

The Income Tax Bill 2025 brings good news for pensioners. It allows tax deductions on the full amount of commuted pension. This applies to those receiving pensions from specified funds like LIC Pension Fund. The bill addresses previous gaps in tax treatment for different recipients. Non-employees, including private-sector individuals with independent pension investments, will benefit.

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Latest version of new tax bill, 2025 clarifies two key laws on income from house propertyLatest version of new tax bill, 2025 clarifies two key laws on income from house property
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Section 87A rebate rule correction: No income tax till income of Rs 12.75 lakh for salaried individuals except this incomeSection 87A rebate rule correction: No income tax till income of Rs 12.75 lakh for salaried individuals except this income
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From same day credit to credit within hours, how RBI is revolutionising cheque clearance processFrom same day credit to credit within hours, how RBI is revolutionising cheque clearance process
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Lower EMI in focus: Will your EMI drop as leading banks reduce lending rates post RBI MPC August meeting?Lower EMI in focus: Will your EMI drop as leading banks reduce lending rates post RBI MPC August meeting?
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