CAclubindia News

Income Tax Department to Issue Notices to Non-Filers and TDS Deductees

21 February 2024 at 09:03

The Income Tax Department is gearing up to take stringent action against individuals who have failed to file their Income Tax Returns (ITRs) and those whose taxes have been deducted at source (TDS) but have not filed their returns.

Posted in Income Tax | 7815 Views

GSTN launches revamped e-invoice master information portal

21 February 2024 at 09:03

Advisory: Enhanced E-Invoicing Initiatives & Launch of Enhanced https://einvoice.gst.gov.in portal

Posted in GST | 19590 Views

CBDT Announces Waiver of Pending Tax Demands up to Rs 1 Lakh per Individual

20 February 2024 at 10:04

The Central Board of Direct Taxes (CBDT) has issued an Order, bearing reference number F. No. 375/02/2023-IT-Budget and dated February 13, 2024, detailing the remission and extinguishment of specific outstanding direct tax demands.

Posted in Income Tax | 36195 Views

GST's Impact: Officer Affirms Nearly Resolved Tax Avoidance Issue

20 February 2024 at 09:08

Assistant Commissioner of Commercial Tax, Mahesh Patil, lauded the Goods and Services Tax (GST) as a monumental achievement in India's tax history, asserting its transformative impact on tax collection mechanisms.

Posted in GST | 2355 Views

NFRA Initiates First Annual Inspection of Key Audit Firms by April 2024

20 February 2024 at 09:07

The National Financial Reporting Authority (NFRA) is set to embark on its inaugural annual review of prominent auditing organizations, including the industry's behemoths known as the Big Five.

Posted in Audit | 7185 Views

LIC Receives Rs 21,740 Crore Tax Refund from Income Tax Department

19 February 2024 at 09:04

Life Insurance Corporation of India (LIC) has garnered a significant tax refund of Rs 21,740.77 crore from the Income Tax Department for assessment years spanning from 2013 to 2020.

Posted in Income Tax | 3369 Views

MCA operationalises CPC for Centralised Processing of Corporate Filings

19 February 2024 at 09:03

12 forms/applications will be processed at CPC from 16.02.2024; followed by other forms from 01.04.2024 onward

Posted in Corporate Law | 8544 Views

Income Tax Dept Clarifies: No Freeze, Just Lien on Congress' Bank Accounts

19 February 2024 at 09:02

In a recent development concerning the financial affairs of the Congress party, the Income Tax department clarified its stance before the ITAT, stating that it had not issued any directive to freeze the transactions in Congress' bank accounts.

Posted in Income Tax | 4428 Views

MSME Minister Launches Rs 20 Lakh Scheme for GST-Exempted Micro Units Under CGTMSE

19 February 2024 at 09:02

MSME Minister Narayan Rane has initiated a transformative scheme tailored for Informal Micro Enterprises (IMEs), aiming to enhance their access to credit facilities and alleviate financial constraints.

Posted in GST | 1 comments | 42846 Views