In a major crackdown on tax evasion, Gujarat's state GST department has unearthed tax fraud amounting to over Rs 48 crore during a search and seizure operation targeting 14 copper trading firms.
SBI, HDFC Bank and ICICI Bank continue to be identified as Domestic Systemically Important Banks (D-SIBs) under the same bucketing structure as in the 2023 list of D-SIBs.
The Institute of Chartered Accountants of India (ICAI) has urged the Ministry of Corporate Affairs (MCA) to reconsider recent amendments to auditing standards proposed by the National Financial Reporting Authority (NFRA).
The Central Board of Direct Taxes (CBDT) has clarified that recent data showing higher personal income tax (PIT) collection growth compared to corporate tax does not imply that individuals are taxed more heavily than corporates.
In a significant statement, Sanjay Rai, the Chief Commissioner of Income Tax, Madurai, revealed that the Income Tax Department currently captures only 23% of the total transactions occurring across the country.
The Appointments Committee of the Cabinet has approved the following appointments to the posts of Member, Central Board of Indirect Taxes and Customs
As the Union Budget 2025 approaches, the CBDT is reportedly focused on introducing a streamlined version of India’s income tax laws.
The Board of Studies is commencing Mock Test Papers Series - I & Series II from for Students appearing in CA Foundation Course for January 2025 Examinations.
The upcoming GST Council meeting in Rajasthan on December 21-22, 2024, may bring potential tax relief for insurance policyholders.
On November 12, 2024, the Central Board of Direct Taxes (CBDT) issued a notification granting tax-exempt status to the Petroleum and Natural Gas Regulatory Board (PNGRB) under section 10(46A)(b) of the Income-tax Act, 1961.
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