Finance Minister Nirmala Sitharaman announced the Health and National Security Cess, levied only on demerit goods like pan masala, with revenues shared with states for health schemes. The move complements GST and aims to deter consumption while funding national priorities
The Income Tax Department has released the ITR-5 Excel utility for AY 2024-25, enabling partnership firms, LLPs, and other eligible entities to file returns. Updates include MSME, startup, and crypto reporting provisions, with a September 15 deadline for non-audit cases
