GST Council decides to increase #GST registration threshold limit to Rs 40 lakh from Rs 20 lakh
However gives authority to each state to decide about whether they want to stay in 20 lak or 40 lakh threshold
The one nation one tax myth is set to rest today.
A spectacular win by the Indian team in the ICC Women’s Cricket World Cup 2025 Finals. Their performance in the final was marked by great skill and confidence. The team showed exceptional teamwork and tenacity throughout the tournament. Congratulations to our players. This historic win will motivate future champions to take up sports.
#WomensWorldCup2025
The Central Board of Direct Taxes (CBDT) has extended the due dates for AY 2025-26 as follows: 📅
- Tax Audit Report (TAR)
- Original due date: 30th September 2025 📆
- Earlier extended to: 31st October 2025 🕰
- Now extended to: 10th November 2025 📆
- Income-tax Return (ITR) filing under Section 139(1)
- Original due date: 31st October 2025 🕰
- Now extended to: 10th December 2025 📆
Stay compliant and plan accordingly! 💼📈
The Central Board of Direct Taxes (CBDT) has decided to extend the due date of furnishing of Return of Income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2025-26, which is 31st October 2025 in the case of assessees referred in clause (a) of Explanation 2 to sub-Section (1) of Section 139 of the Act, to 10th December 2025.
The 'specified date' of furnishing of the report of audit under the provisions of the Income-tax Act, 1961, for the Previous Year 2024-25 (Assessment Year 2025-26) is further extended to 10th November 2025.
Press Release Issued.
Richest Billionaires by Country (2024)
1. United States 🇺🇸
- Richest: Elon Musk
- Net Worth: $241.8 billion
- Number of Billionaires: 746
2. China 🇨🇳
- Richest: Colin Huang
- Net Worth: $51.9 billion
- Number of Billionaires: 373
3. India 🇮🇳
- Richest: Mukesh Ambani
- Net Worth: $116.4 billion
- Number of Billionaires: 182
4. Germany 🇩🇪
- Richest: Klaus-Michael Kuehne
- Net Worth: $41.9 billion
- Number of Billionaires: 126
5. Russia 🇷🇺
- Richest: Leonid Mikhelson & family
- Net Worth: $28.5 billion
- Number of Billionaires: 99
6. Hong Kong 🇭🇰
- Richest: Li Ka-shing
- Net Worth: $36.2 billion
- Number of Billionaires: 67
7. Canada 🇨🇦
- Richest: David Thomson & family
- Net Worth: $70.6 billion
- Number of Billionaires: 62
8. Italy 🇮🇹
- Richest: Giovanni Ferrero
- Net Worth: $44.5 billion
- Number of Billionaires: 62
9. Brazil 🇧🇷
- Richest: Eduardo Saverin
- Net Worth: $29.2 billion
- Number of Billionaires: 58
10. United Kingdom 🇬🇧
- Richest: Michael Platt
- Net Worth: $18.0 billion
- Number of Billionaires: 55
11. Taiwan 🇹🇼
- Richest: Barry Lam
- Net Worth: $12.0 billion
- Number of Billionaires: 48
12. Australia 🇦🇺
- Richest: Gina Rinehart
- Net Worth: $31.3 billion
- Number of Billionaires: 46
13. France 🇫🇷
- Richest: Bernard Arnault & family
- Net Worth: $191.9 billion
- Number of Billionaires: 42
14. Switzerland 🇨🇭
- Richest: Gianluigi Aponte
- Net Worth: $35.0 billion
- Number of Billionaires: 41
15. Japan 🇯🇵
- Richest: Tadashi Yanai & family
- Net Worth: $45.0 billion
- Number of Billionaires: 37
Source: CEO WORLD RANKING
The Income Tax Department appreciates taxpayers & tax professionals for timely compliance, resulting in a record surge in the filing of Income Tax Returns (ITRs).
Here are the key highlights:
👉More than 7.28 crore ITRs for AY 2024-25 filed till 31st July, 2024, a 7.5% increase from the 6.77 crore ITRs for AY 2023-24 filed in the corresponding period in the preceding year.
👉Around 72% of taxpayers opted for the New Tax Regime, with 5.27 crore ITRs filed under it, compared to 2.01 crore under the Old Tax Regime.
👉Over 69.92 lakh ITRs were filed on 31st July, 2024, with the highest hourly rate of 5.07 lakh filings between 7:00 pm to 8:00 pm.
👉Over 3.2 crore successful logins on 31st July, 2024.
👉About 58.57 lakh ITRs were received from first-time filers, indicating a widening of tax base.
👉ITR-1, ITR-2, ITR-4, and ITR-6 were available from 1st April, 2024, with ITR-3 and ITR-5 released earlier than in previous years.
👉About 10.64 lakh queries handled by the e-filing Helpdesk team.
👉Resolution also provided through ORM on X(Twitter), handling 1.07 lakh e-mails between 1st April to 31st July, 2024, resolving 99.97% of the issues raised.
Details available in Press Release at: https://t.co/0RZLGxS03l
Happy Chartered Accountants Day! CAs play a vital role in shaping our economic landscape. Their expertise and strategic insights are beneficial for businesses and individuals alike. They also contribute significantly to economic growth and stability. They are equally integral to our financial well-being. #CADay
My heartiest congratulations to Team India for winning the T20 World Cup. With the never-say-die spirit, the team sailed through difficult situations and demonstrated outstanding skills throughout the tournament. It was an extraordinary victory in the final match. Well done, Team India! We are proud of you!
Every star added to the Team India jersey inspires our nation’s starry-eyed children to move one step closer to their dreams. India gets the 4th star, our second in @T20WorldCup.
Life comes full circle for Indian cricket in the West Indies. From our lows in the 2007 ODI World Cup to becoming a cricketing powerhouse and winning the T20WC in 2024. Very happy for my friend Rahul Dravid, who missed out on the 2011 World Cup win but his contribution to this T20 World Cup victory has been immense. I am so so happy for him.
What can one say about @ImRo45? Superb captaincy! To put the 2023 ODI World Cup loss behind and to keep all our players motivated towards the T20 World Cup is commendable.
@Jaspritbumrah93's Player of the Tournament award as well as @imVkohli's Player of the Match award are both well-deserved. They were just superb when it mattered.
Along with Rahul, Paras Mhambrey and Vikram Rathour also made their international debuts in 1996. It was wonderful to see Team India excel under the guidance of this class of '96.
A total team effort. Hearty congratulations to all the players, coaches, support staff, and @BCCI.
#SAvIND #T20WorldCup