CAclubindia News

CBIC Releases Revised Guidelines and Formats for Arrest and Incident Reports

17 February 2024 at 08:53

In a proactive move to bolster anti-smuggling measures, the CBIC has issued Instruction No. 02/2024-Customs, dated February 15, 2024.

Posted in GST | 3834 Views

Income Tax Notices Sent to Taxpayers for Donations to Unrecognized Political Parties

17 February 2024 at 08:50

The Income Tax Department has initiated a probe into political donations made to registered yet unrecognized political parties during the financial years 2020-21 and 2021-22

Posted in Income Tax | 5286 Views

TRACES: Lower/Nil TDS Deduction Application Window Open for FY 2023-24 & 2024-25

17 February 2024 at 08:48

TAN system has introduced the TDS Reconciliation Analysis and Correction Enabling System (TRACES), offering taxpayers the opportunity to file for lower or nil deduction of TDS, thereby enhancing their financial position.

Posted in Income Tax | 4728 Views

RBI Takes Action Against Paytm Payments Bank under Banking Regulation Act

17 February 2024 at 08:45

Action against Paytm Payments Bank Ltd under Section 35A of the Banking Regulation Act, 1949

Posted in Others | 2496 Views

Central Government Notifies Finance Act 2024

16 February 2024 at 17:17

The Indian government has officially notified the Finance Act, 2024, after its passage through the Parliament and receiving the President's assent on February 15, 2024.

Posted in Union Budget | 5844 Views

Builders Under GST Scrutiny: Notices Issued to Reverse ITC

16 February 2024 at 08:58

In a significant development, the Goods and Services Tax (GST) department has initiated action against numerous builders, issuing notices to reverse Input Tax Credit (ITC) claimed for the fiscal years 2017-18 and 2018-19.

Posted in GST | 1 comments | 18411 Views

Star Health Faces Rs 170 Crore GST Demand, Rs 8.7 Crore Penalty Notice

16 February 2024 at 08:58

In a recent development, Star Health and Allied Insurance Company Ltd disclosed receiving a significant tax demand order amounting to Rs 170 crore

Posted in GST | 2586 Views

Supreme Court Strikes Down Electoral Bonds, Halts SBI Issuance

15 February 2024 at 13:02

On February 15th, the Supreme Court delivered its long-awaited verdict on a series of petitions challenging the Electoral Bond scheme, a system allowing for anonymous funding to political parties. The landmark judgment, delivered by a five-judge Cons

Posted in Others | 5364 Views

GST Department Intensifies Efforts to Meet FY24 Targets

15 February 2024 at 09:08

Despite a robust increase in monthly GST collections, the Revenue department is intensifying efforts to ensure it meets the collection targets for the fiscal year.

Posted in GST | 8235 Views

Income Tax Dept Uncovers Rs 25,000 Crore Extra Payments to Insurance Agents via Benami Entities

15 February 2024 at 09:07

Income Tax department has unearthed a complex network of transactions amounting to over Rs 25,000 crore, implicating more than 60 intermediary firms and hundreds of bank accounts in suspected Benami deals within the insurance industry.

Posted in Income Tax | 3807 Views