CAclubindia News
Income Tax Notices Sent to Taxpayers for Donations to Unrecognized Political Parties
17 February 2024 at 08:50The Income Tax Department has initiated a probe into political donations made to registered yet unrecognized political parties during the financial years 2020-21 and 2021-22
TRACES: Lower/Nil TDS Deduction Application Window Open for FY 2023-24 & 2024-25
17 February 2024 at 08:48TAN system has introduced the TDS Reconciliation Analysis and Correction Enabling System (TRACES), offering taxpayers the opportunity to file for lower or nil deduction of TDS, thereby enhancing their financial position.
RBI Takes Action Against Paytm Payments Bank under Banking Regulation Act
17 February 2024 at 08:45Action against Paytm Payments Bank Ltd under Section 35A of the Banking Regulation Act, 1949
Central Government Notifies Finance Act 2024
16 February 2024 at 17:17The Indian government has officially notified the Finance Act, 2024, after its passage through the Parliament and receiving the President's assent on February 15, 2024.
Builders Under GST Scrutiny: Notices Issued to Reverse ITC
16 February 2024 at 08:58In a significant development, the Goods and Services Tax (GST) department has initiated action against numerous builders, issuing notices to reverse Input Tax Credit (ITC) claimed for the fiscal years 2017-18 and 2018-19.
Star Health Faces Rs 170 Crore GST Demand, Rs 8.7 Crore Penalty Notice
16 February 2024 at 08:58In a recent development, Star Health and Allied Insurance Company Ltd disclosed receiving a significant tax demand order amounting to Rs 170 crore
Supreme Court Strikes Down Electoral Bonds, Halts SBI Issuance
15 February 2024 at 13:02On February 15th, the Supreme Court delivered its long-awaited verdict on a series of petitions challenging the Electoral Bond scheme, a system allowing for anonymous funding to political parties. The landmark judgment, delivered by a five-judge Cons
GST Department Intensifies Efforts to Meet FY24 Targets
15 February 2024 at 09:08Despite a robust increase in monthly GST collections, the Revenue department is intensifying efforts to ensure it meets the collection targets for the fiscal year.
Income Tax Dept Uncovers Rs 25,000 Crore Extra Payments to Insurance Agents via Benami Entities
15 February 2024 at 09:07Income Tax department has unearthed a complex network of transactions amounting to over Rs 25,000 crore, implicating more than 60 intermediary firms and hundreds of bank accounts in suspected Benami deals within the insurance industry.
ICAI releases Guidance Note on Audit of Banks - 2024 Edition
15 February 2024 at 09:07The area of operation / function of the Personal Banking Department is typically confined to resource mobilization, i.e., source of funds (for the bank) in the form of CASA deposits, term deposits, customer service and operations.
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