CAclubindia News

Income Tax Department Notifies Salaried Taxpayers About Deduction Discrepancies in Form 16

06 September 2023 at 09:00

Income Tax Department (ITD) has started sending intimations to salaried taxpayers whose deductions are not in sync with Form 16.

Posted in Income Tax | 46344 Views

Income Tax Department Urges Taxpayers to Verify Bank Account Validation Status

06 September 2023 at 08:59

Income Tax Department (ITD) has advised taxpayers to verify the validation status of their bank account on the e-filing portal.

Posted in Income Tax | 12246 Views

Mandatory HSN Code Requirements in E-Invoices and E-Way bills for Taxpayers from Oct 2023

06 September 2023 at 08:57

There is a new GST E-Way Bill update regarding the HSN code requirements.

Posted in GST | 33987 Views

CBIC Releases Procedure for Provisional Attachment of Property u/s 83(2) of CGST Act 2017

06 September 2023 at 08:55

Procedure to be followed with respect to sub-section (2) of section 83 of CGST Act, 2017 when provisional attachment of property ceases to have effect

Posted in GST | 7029 Views

Over 88% of 6.98 Crore ITRs for AY 2023-24 Verified and Processed as of 5th Sept 2023

06 September 2023 at 08:54

6.84 crore ITRs verified out of 6.98 crore ITRs filed for AY 2023-24 with over 88% of verified ITRs processed as on 5th Sept. 2023More than 2.45 crore refunds for AY 2023-24 issuedThe Income Tax Department is committed to process the Income Tax Retur

Posted in Income Tax | 5118 Views

Karnataka AAR Grants ITC for Promotional Items in Sales Targets

05 September 2023 at 08:51

Karnataka AAR has ruled that businesses can claim ITC on items such as gold coins and white goods that are procured for distribution to dealers as part of promotional schemes when pre-specified sales targets are achieved.

Posted in GST | 7980 Views

CBIC Launches GST Verification Drive with Rs 50,000 Penalty for Non-Compliant Shops

05 September 2023 at 08:50

The Central Board of Indirect Taxes and Customs (CBIC) has initiated a campaign in Punjab's Bathinda district to ensure that businessmen registered on the GST network portal display their GST numbers at their premises.

Posted in GST | 9954 Views

ICAI releases Guidance Note on Tax Audit u/s 44AB of IT Act, 1961

05 September 2023 at 08:49

ICAI releases Revised 2023 Edition of Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961.

Posted in Income Tax | 15540 Views

Clarification on 80P Error from Income Tax Department

04 September 2023 at 08:41

The Income Tax Department has clarified that the error in the 80P deduction notices was sent inadvertently. The department has assured taxpayers that an email communication addressing this issue will be sent out shortly.

Posted in Income Tax | 31407 Views

Sales Tax Inspector Arrested in Nagpur for Attempted Extortion of Rs 15 Lakh from GST Tribunal Judge

04 September 2023 at 08:40

An inspector with the state sales tax department in Nagpur, Maharashtra, has been arrested for allegedly attempting to extort Rs 15 lakh from a judge of the Goods and Services Tax (GST) tribunal.

Posted in GST | 4797 Views