CAclubindia News

Govt's push to align TCS with TDS: Insights from Chief Economic Advisor

29 May 2023 at 08:50

The government is attempting to link tax collected at source for payments made by individuals with tax deducted from their income sources, a move that will help in ensuring cash flows of the individual taxpayers are not impacted

Posted in Income Tax | 9369 Views

Income proof becomes mandatory for Rs 10 lakh investments in small savings schemes

29 May 2023 at 08:49

The government has now made it mandatory for those investing over Rs 10 lakh in post office schemes to provide proof of source of funds.

Posted in Corporate Law | 10479 Views

Banks directed to alert Income Tax Department on large Rs 2000 Deposits

29 May 2023 at 08:47

Banks will be required to notify the income tax department about large cash deposits of ₹2,000 currency notes above a threshold as part of the statement of financial transactions (SFT) they are mandated to submit to the tax authority annually.

Posted in Income Tax | 30294 Views

GSTN issues advisory on due date extension of GST Returns for the state of Manipur

29 May 2023 at 08:46

Advisory on due date extension of GST Returns for the state of Manipur

Posted in GST | 6030 Views

CBDT releases guidelines for compulsory selection of returns for complete scrutiny during FY 2023-24

27 May 2023 at 08:52

CBDT has issued the guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2023-24.

Posted in Income Tax | 13176 Views

CBIC issues SOP for scrutinizing returns from FY 2019-20 onwards

27 May 2023 at 08:50

The CBIC vide Instruction No. 02/2023-GST dated May 26, 2023 has issued Standard Operating Procedure ("SOP") for Scrutiny of Returns for Financial Year 2019-20 onwards.

Posted in GST | 7614 Views

MSME Ministry Allows Informal Micro Units to Opt-Out of Aadhaar Authentication

27 May 2023 at 08:47

The Ministry of MSME has made the Aadhaar authentication for informal micro units voluntary to encourage informal micro enterprises (IMEs) for Udyam registration to the benefits of priority sector lending (PSL).

Posted in Income Tax | 3249 Views

ICAI releases Annual Membership Fees Structure for the year 2023-2024

27 May 2023 at 08:46

Members are advised to remit Annual Membership/Certificate of Practice fees for the year 2023-2024

Posted in Professional Resource | 35001 Views

Ministry of Finance to launch Rs 75 coin to commemorate New Parliament Building inauguration

26 May 2023 at 11:41

In honour of the inauguration of the new Parliament building, the Union Finance Ministry has announced the minting of a special Rs 75 coin. With the inscription 'Parliament Complex' and an image of the new building, this commemorative coin ai

Posted in Professional Resource | 12066 Views

CBDT raises tax exemption limit on Leave Encashment to Rs 25 lakh for Non-Govt Salaried Employees

26 May 2023 at 08:47

In pursuance to the proposal in the Budget Speech, 2023, by the Hon'ble FM, the Central Government has notified the increased limit for tax exemption on leave encashment on retirement

Posted in Income Tax | 11160 Views