CAclubindia News

RBI bans Kotak Mahindra Bank from onboarding new online customers

24 April 2024 at 18:49

Supervisory Action against Kotak Mahindra Bank Limited under Section 35A of the Banking Regulation Act, 1949

Posted in Community & General | 663 Views

CBDT Extends PAN-Aadhaar Link Deadline Until 31st May 2024

24 April 2024 at 11:01

For the transactions entered into upto 31.03.2024 and in cases where the PAN becomes operative (as a result of linkage with Aadhaar) on or before 31.05.2024, there shall be no liability on the deductor/collector

Posted in Income Tax | 4 comments | 21513 Views

Proposed Income Tax Act Amendment Targets MSME Dues Tax Treatment

24 April 2024 at 09:04

A recent alteration in the Income Tax Act, aimed at bolstering small businesses by ensuring timely payments, might have inadvertently deterred potential buyers from engaging with them.

Posted in Income Tax | 1 comments | 4368 Views

Income Tax Department Launches Drive to Clear 0.54 Million Appeals

24 April 2024 at 09:02

As of January 31 this year, a staggering 5,44,205 appeals awaited resolution within the corridors of the Income Tax Department

Posted in Income Tax | 2547 Views

Yes Bank Shares Surge on Receipt of Rs 284.21 Crore Tax Refund

23 April 2024 at 08:52

Shares of Yes Bank witnessed a significant uptick in early trading today, buoyed by positive developments including a substantial tax refund order and an equity allotment decision.

Posted in Income Tax | 669 Views

Vedanta Faces Rs 3.48 Crore Penalty Over GST ITC Issue

23 April 2024 at 08:51

In a recent development, mining giant Vedanta has been slapped with a hefty penalty of Rs 3.48 crore by the Office of the Additional Commissioner, GST & Central Excise Commissionerate, Rourkela.

Posted in GST | 831 Views

Supreme Court to Review Rs 33,000 Crore Income Tax Claim on Jaypee Infratech

22 April 2024 at 08:51

In a pivotal move, the Supreme Court has stepped in to assess the contentious ₹33,000 crore tax claim imposed on Jaypee Infratech Ltd (JIL), marking a crucial juncture in the ongoing legal saga that has left 22,000 homebuyers in limbo.

Posted in Income Tax | 1626 Views

RBI Imposes Rs 10 Lakh Penalty on NABFINS Limited for Non-Compliance

22 April 2024 at 08:50

In a recent development, the Reserve Bank of India (RBI) has levied a monetary penalty of Rs 10 lakh on NABFINS Limited, a subsidiary of NABARD, citing non-compliance with specific regulations.

Posted in Community & General | 2823 Views

Net Direct Tax Collections Surge to Rs. 19.58 Lakh Crore in FY 2023-24

22 April 2024 at 08:49

Net Direct Tax collections (provisional) for Financial Year (FY) 2023-24 exceed Union Budget Estimates by Rs. 1.35 lakh crore i.e. by 7.40%

Posted in Income Tax | 450 Views

Zomato Faces Rs 11.81 Crore GST Demand and Penalty Order

21 April 2024 at 12:12

Food delivery giant Zomato finds itself in the regulatory spotlight after revealing that it has been slapped with a GST demand and penalty order totaling Rs 11.81 crore.

Posted in GST | 3891 Views