CAclubindia News

Finance Ministry Proposes Enhanced KYC Procedure To Combat Cyber Scams

17 April 2024 at 08:52

In a proactive move aimed at curbing incidents like the BoB World app scam and other financial frauds, the finance ministry is advocating for a robust KYC procedure and rigorous due diligence by banks and financial institutions.

Posted in Community & General | 525 Views

CBDT signs record number of 125 Advance Pricing Agreements (APAs) in FY 2023-24

17 April 2024 at 08:48

The Central Board of Direct Taxes (CBDT) has entered into a record 125 Advance Pricing Agreements (APAs) in FY 2023-24 with Indian taxpayers. This includes 86 Unilateral APAs (UAPAs) and 39 Bilateral APAs (BAPAs).

Posted in Income Tax | 2250 Views

NFRA Debars Two Chartered Accountants in Reliance Capital Case, Levies Fine

16 April 2024 at 08:57

The National Financial Reporting Authority (NFRA) has taken decisive action against alleged misconduct, debarring two Chartered Accountants (CAs) for a period ranging between 5 to 10 years.

Posted in Audit | 5586 Views

ICAI Introduces New Disciplinary Mechanism to Combat Professional Misconduct

15 April 2024 at 16:50

As a statutory body regulating the profession of Chartered Accountancy in India, the ICAI has had a long and glorious history in its 71 years of existence as the second-largest Institute in the world

Posted in Professional Resource | 1554 Views

Income Tax Department Targets 1.52 Crore Non-Filers for Tax Return Compliance

15 April 2024 at 08:57

According to a report, the Income Tax Department has identified a staggering 1.52 crore such individuals who, despite having taxable income or TDS, have failed to fulfill their filing obligations.

Posted in Income Tax | 4419 Views

Income Tax Department Issues Clarification Regarding India-Mauritius Tax Treaty

13 April 2024 at 07:33

The Income Tax Department recently issued a clarification regarding concerns about the amendment to the India-Mauritius Double Taxation Avoidance Agreement (DTAA) on April 12, 2024.

Posted in Income Tax | 2616 Views

Kerala GST Department Guidelines: Issuance of orders u/s 107 and 108 of SGST/CGST/IGST Act

13 April 2024 at 07:31

The Kerala GST Department has issued a new circular, Circular No: 05/2024 dated April 06, 2024, providing guidelines on the issuance of orders under section 107 and 108 of SGST/CGST/IGST Act related to the numbering of appellate and revisional orders.

Posted in GST | 1026 Views

Delhi businessman arrested in GST Fraud Case, Claimed ITC through 35 fake companies

13 April 2024 at 07:30

On Wednesday, the Sector 20 police arrested Tushar Gupta, a multimillionaire and resident of Tilak Nagar in Delhi, who runs a packaging factory in north-west Delhi.

Posted in GST | 1833 Views

ICICI Prudential Faces Rs 20.50 Crore GST Demand for FY 2019

12 April 2024 at 08:49

ICICI Prudential Life Insurance Company Ltd (ICICI Pru) disclosed on Tuesday, April 9, 2024, that it has been served with a Goods and Services Tax (GST) demand order amounting to Rs 20.50 crore for the financial year 2018-19.

Posted in GST | 1 comments | 2277 Views