Government Withdraws Income Tax Bill, Planning Fresh Version

By BPN News Desk August 8, 2025

Government Policies National

The Indian government has formally withdrawn the Income Tax Bill, 2025, which was introduced in the Lok Sabha on February 13. The decision follows a detailed review and feedback from a parliamentary select committee that identified several provisions needing revision. Why Was the Bill Pulled

Business Finance

I‑T Dept Raids 200+ Premises Over Fake Deductions

By BPN News Desk July 14, 2025

The Income Tax Department has launched a large-scale crackdown on bogus claims made in income tax returns by individuals across India. On July 14, over 200 premises were searched as part of an operation targeting fraudulent deductions claimed under sections like 80G (donations), 80E (education loans), medical reimbursements, and other exemptions. Bogus Refund Rackets

Editorials

“Panipuri Profits vs Middle-Class Taxes: The Bitter Taste of Inequality”

By BPN News Desk January 7, 2025

Ah, the life of a middle-class, tax-paying citizen in India! If there’s one thing that brings tears to my eyes, it’s not onions at ₹100/kg, but my paycheck. My monthly salary, meticulously chopped and sautéed by income tax, professional tax, and cess, barely lasts me till the 20th of the month. And then, just as […]

Editorials

Middle Class to the Rescue: Why Tax Relief is the Hero India Deserves (and Needs Right Now)

By BPN News Desk December 29, 2024

Ah, the great Indian middle class—the tireless engine of our economy, the cushion during recessions, the perpetual safety net for our policymakers’ ambitious dreams. They are the ones who pay their taxes on time, religiously invest in ELSS (because tax-saving ads guilt them into it), and keep the consumer economy humming along with their carefully […]