CAclubindia News

Bombay High Court Disposes of PIL Regarding Eligibility of Rebate u/s 87A of the Income Tax Act

25 January 2025 at 10:21

The Bombay High Court on January 24, 2025, disposed of the Public Interest Litigation (PIL) filed by the Chamber of Tax Consultants concerning the eligibility of the rebate under Section 87A of the Income Tax Act, 1961.

Posted in Income Tax | 2529 Views

Budget 2025: Smallcase Managers Anticipate Income Tax Reforms and Growth-Centric Policies

25 January 2025 at 09:14

The recently released Smallcase Managers Budget 2025-26 Survey Report sheds light on key expectations from the upcoming Union Budget.

Posted in Union Budget | 126 Views

CBIC cautions against fraudsters issuing fake and fraudulent Summons for GST violations

25 January 2025 at 09:13

It has been recently observed that some individuals with fraudulent intent are creating and sending fake summons to the taxpayers who may or may not be under investigation by the DGGI, CBIC.

Posted in GST | 1374 Views

GSTN Advisory: Ensure Business Continuity with e-Invoice & e-Waybill Redundancies

25 January 2025 at 08:57

Advisory on Business Continuity for e-Invoice and e-Waybill Systems

Posted in GST | 1593 Views

ICAI Releases Exposure Draft of Guidance Note on Audit of Banks (2025 Edition)

25 January 2025 at 08:56

The Auditing and Assurance Standards Board (AASB) of the Institute of Chartered Accountants of India (ICAI) has released the Exposure Draft of the Guidance Note on Audit of Banks (2025 Edition) for public comments.

Posted in Audit | 231 Views

Bombay High Court Upholds 2007 Income Tax Amendments Affecting Bank Officers

24 January 2025 at 09:25

The Bombay High Court dismissed petitions filed by nationalized bank officers challenging the constitutional validity of the 2007 amendments to the IT Act

Posted in Income Tax | 1284 Views

SWFs Seek Tax Exemption Extension for Infrastructure in Budget 2025

24 January 2025 at 09:24

As the Union Budget 2025 approaches, foreign sovereign wealth funds (SWFs) and pension funds are lobbying for an extension of the tax exemption on their investments in India's infrastructure sector.

Posted in Union Budget | 129 Views

CBIC Issues Key Notification to Strengthen Central Excise and Service Tax Jurisdiction

24 January 2025 at 09:23

In a significant move to streamline the administration of indirect taxes, the CBIC issued Notification No. 01/2025-Central Excise (N.T.), designating and empowering specific Central Excise Officers with enhanced jurisdiction and authority.

Posted in GST | 1314 Views

CBIC Waives Late Fees for Filing GSTR-9C for FY 2017-18 to FY 2022-23

24 January 2025 at 09:17

The Ministry of Finance waives late fees for delayed filing of GSTR-9C reconciliation statements for FY 2017-18 to FY 2022-23, if filed by March 31, 2025. Learn more about the relief for taxpayers.

Posted in GST | 1 comments | 4206 Views

CBIC Amends GST Rules to Enhance Compliance for Composition Taxpayers via FORM GST CMP-02

24 January 2025 at 09:14

CBIC introduces amendments to GST Rules, 2025, enabling composition taxpayers to furnish key information in FORM GST CMP-02. These changes aim to simplify compliance and improve transparency in the GST framework.

Posted in GST | 9312 Views