CAclubindia News


CBDT Issues Guidelines u/s 194-O of the Income-tax Act, 1961

   29 December 2023 at 09:28

Vide CBDT Circular No. 20/2023 dated 28.12.2023 guidelines have been issued for removal of difficulties and clarity has been provided on various issues pertaining to applicability of section 194-O

Posted in Income Tax |   3456 Views


Income Tax Department Harnesses AI for Rs 36,000 Crore Recovery

   29 December 2023 at 09:27

The Income Tax Department has harnessed the power of data analytics and advanced technology to recover an impressive ₹36,000 crore from outstanding tax demands in the current fiscal year.

Posted in Income Tax |   6015 Views


Year in Review 2023: CBDT's Citizen-Centric Initiatives

   29 December 2023 at 09:23

In the year 2023, the Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance, has taken many citizen-centric initiatives throughout the year.

Posted in Income Tax |   5349 Views


Mahindra & Mahindra Fined Over Rs 56 Lakh for GST Credit Transfer Error in Two-Wheeler Business

   29 December 2023 at 09:23

Mahindra & Mahindra Ltd has disclosed that it is facing a penalty of over Rs 56 lakh for a procedural lapse related to the transfer of Input Service Distributor (ISD) credit from the pre-GST to the GST regime.

Posted in GST |   2379 Views


CBIC Extends Time Limit for Issuance of SCN and Order Passing in Non-Fraud Cases for FY 2018-19 and 2019-20

   28 December 2023 at 21:57

CBIC has taken a proactive step by issuing Notification No. 56/2023–Central Tax on December 28, 2023. This notification aims to extend the time limit prescribed under Section 73(10) of the Central Goods and Services Tax Act, 2017 ("the CGST Act").

Posted in GST |   25662 Views


ICAI Announces Empanelment of CA Firms/LLPs for the year 2024-2025

   28 December 2023 at 15:25

Online Applications are invited from Chartered Accountant firms/LLPs who desire to be empanelled with the office of the Comptroller and Auditor General of India for the year 2024-2025

Posted in Corporate Law |   9075 Views


RBI Unveils Clarifications on Appointment Guidelines for SCAs/SAs in Banks and NBFCs

   28 December 2023 at 15:23

Clarification regarding Guidelines issued by RBI for Appointment of SCAs/SAs of Commercial Banks (Excluding RRBs), UCBs and NBFCs (including HFCs)

Posted in Community & General |   2184 Views


Delhi HC Upholds Constitutional Validity of Section 115BBE of Income Tax Act

   28 December 2023 at 14:53

In a significant verdict, the Delhi High Court, led by Acting Chief Justice Manmohan and Justice Mini Pushkarna, has upheld the constitutional validity of Section 115BBE of the Income Tax Act.

Posted in Income Tax |   2481 Views


Zomato Faces Rs 402 Crore GST SCN for Alleged Non-payment on Customer Delivery Charges

   28 December 2023 at 09:24

On December 28, Zomato Ltd, the popular online food delivery platform, revealed that it received a show cause notice (SCN) from the Goods and Services Tax (GST) office.

Posted in GST |   8616 Views


GSTN Expands Payment Options: Adds 2 New Banks, Totaling 25 for GST Transactions

   28 December 2023 at 09:21

The Goods and Services Tax Network ("GSTN") has added 2 new banks Karnataka Bank Limited and RBL Bank Limited, bringing the total number of banks accepting GST payments to 25.

Posted in GST |   2874 Views



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