CAclubindia News

CMA institute to no longer use the acronym ICAI after Delhi High court order

14 June 2023 at 09:02

The Institute of Cost Accountants of India (ICMAI) has decided to no longer use the acronym ICAI after the Institute of Chartered Accountants of India (ICAI) won a trademark infringement lawsuit against them.

Posted in Professional Resource | 21735 Views

New Forms 34C to 34EA introduced for Advance Ruling Filings

14 June 2023 at 09:01

The Income-tax (Ninth Amendment) Rules, 2023 were notified by the Central Board of Direct Taxes (CBDT) on June 12, 2023. The amendment aims to improve the efficiency and effectiveness of the Income-tax Act, 1961.

Posted in Income Tax | 10449 Views

CBDT notifies e-advance rulings (Amendment) Scheme, 2023

14 June 2023 at 09:00

The e-advance rulings (Amendment) Scheme, 2023 was notified by the Central Board of Direct Taxes (CBDT) on June 12, 2023.

Posted in Income Tax | 5820 Views

Former CBIC Chairperson Urges GST Council to Differentiate Taxation for Betting and Skill-based Online Games

14 June 2023 at 08:59

Former chairperson of the Central Board of Indirect Taxes and Customs (CBIC) John Joseph has said that the Goods and Services Tax (GST) Council must differentiate between skill-based and betting-based online games before taxing them.

Posted in GST | 2937 Views

2-Factor Authentication mandatory for taxpayers with AATO above Rs.100 crore from 15th July 2023

13 June 2023 at 08:55

To enhance the security of e-Way Bill/e-Invoice System, NIC is introducing 2-Factor Authentication for logging in to e-Way Bill/e-Invoice system. In addition to username and password, OTP will also be authenticated for login.

Posted in GST | 16767 Views

CBIC considers introducing prefilled consolidated GST return forms, similar to Income Tax Filing

13 June 2023 at 08:52

CBIC is considering introducing pre-filled consolidated GST return forms, similar to the Annual Information Statement (AIS) used by the Income Tax department.

Posted in GST | 9930 Views

Banks express concern over liquidity ahead of advance tax outflow and GST

13 June 2023 at 08:51

The Reserve Bank of India (RBI) conducted a variable rate reverse repo (VRRR) auction on Friday, but banks remained reluctant to park funds with the central bank.

Posted in GST | 3672 Views

Central Govt doubles tax devolution to states, releases Rs 1,18,280 crore in 3rd instalment

13 June 2023 at 08:50

Central Government releases ₹1,18,280 crore as 3rd instalment of tax devolution to State Governments as against normal monthly devolution of ₹59,140 crore

Posted in Income Tax | 2721 Views

Finance Ministry set to provide clarity on TCS for foreign remittance under LRS

12 June 2023 at 08:44

Finance Ministry is going to come out with a detailed clarification regarding TCS (Tax Collected at Sources) on Liberalised Remittance Scheme (LRS), a senior Government official said on Friday.

Posted in Income Tax | 8127 Views

Income Tax Assessees Granted 21 Days to Respond to Refund Adjustment Intimations

12 June 2023 at 08:43

An income tax assessee will get 21 days to respond to notices issued by the Central Processing Centre (CPC) regarding set-off and withholding of refund.

Posted in Income Tax | 9258 Views