CAclubindia News

IT Department Conducts Verification of Reporting Entities

03 July 2023 at 08:59

The Income-Tax Department has been focusing its efforts on promoting voluntary compliance. In this endeavour, information is received about financial transactions of taxpayers from Reporting Entities,

Posted in Income Tax | 3258 Views

Excel Utility for ITR-7 AY 2023-24 Now Accessible for Filing

03 July 2023 at 08:58

Excel utility of ITR-7 for AY 2023-24 is available for filing. You can download it from the Income Tax Department website.

Posted in Income Tax | 5337 Views

Gross GST Revenue surpasses Rs 1.6 Lakh Crore in June 2023, Records 12% YoY Growth

01 July 2023 at 15:20

Gross GST collection crosses ₹1.6 lakh crore mark for 4th time since inception of GST; ₹1.4 lakh crore for 16 months in a row

Posted in GST | 2835 Views

CBDT issues circular to ease implementation of TCS changes for LRS and Overseas Tour Packages

01 July 2023 at 08:52

CBDT (Central Board of Direct Taxes) issued a Circular on June 30, 2023 to remove difficulty in the implementation of changes relating to TCS on LRS and on purchase of overseas tour program package.

Posted in Income Tax | 7749 Views

IT Department Busts Multi-Crore Tax Refund Scam in Hyderabad

01 July 2023 at 08:51

The income tax department has busted a Rs 40 crore tax refund scam in Hyderabad. The scam involved eight tax consultants, several employees of the railways and police department, and several technology companies in Hyderabad and Vijayawada.

Posted in Income Tax | 15939 Views

ICAI President urges members to embrace AI to stay relevant and derive competitive advantage

01 July 2023 at 08:50

The evolving artificial intelligence (AI) paradigm is nudging the accounting profession to readapt itself and move towards specialization and tasks involving more objectivity, cognitive ability, and behavioural skills to be relevant.

Posted in Professional Resource | 13704 Views

ICAI Extends Cutoff Date for Bank Branch Auditors Panel Preparation

01 July 2023 at 08:49

Cut-off date for the constitution of the firm and its members will now be as on 1st July, 2023 considering submission of Form 18 up to one month of submission (till 31st July, 2023) without condonation of delay

Posted in Audit | 12270 Views

ICAI unveils new logo to commemorate the start of its 75th year

30 June 2023 at 13:19

ICAI has unveiled its new logo to commemorate the start of its 75th year.

Posted in Professional Resource | 58752 Views

Tata Sons Challenges Rs 1500 Crore GST Claim on Docomo Settlement

30 June 2023 at 08:59

Tata Sons has challenged a ₹1,500 crore tax demand on its $1.27 billion settlement with NTT Docomo in 2017. The settlement was reached over a now-defunct telecom joint venture between the two companies.

Posted in GST | 8511 Views

Youth's PAN and Aadhaar Details Used to Set Up Company for GST Fraud

30 June 2023 at 08:56

Hudkeshwar police have registered a case of fraud against Rahul Kamalkumar Jain and his wife Shruti, residents of Parwarpura, Itwari, for allegedly manipulating GST worth crores by misusing documents of a city youth.

Posted in GST | 5538 Views