CAclubindia News
CBDT Announces Waiver of Pending Tax Demands up to Rs 1 Lakh per Individual
20 February 2024 at 10:04The 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.
GST's Impact: Officer Affirms Nearly Resolved Tax Avoidance Issue
20 February 2024 at 09:08Assistant 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.
NFRA Initiates First Annual Inspection of Key Audit Firms by April 2024
20 February 2024 at 09:07The 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.
LIC Receives Rs 21,740 Crore Tax Refund from Income Tax Department
19 February 2024 at 09:04Life 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.
MCA operationalises CPC for Centralised Processing of Corporate Filings
19 February 2024 at 09:0312 forms/applications will be processed at CPC from 16.02.2024; followed by other forms from 01.04.2024 onward
Income Tax Dept Clarifies: No Freeze, Just Lien on Congress' Bank Accounts
19 February 2024 at 09:02In 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.
MSME Minister Launches Rs 20 Lakh Scheme for GST-Exempted Micro Units Under CGTMSE
19 February 2024 at 09:02MSME 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.
CBIC Releases Revised Guidelines and Formats for Arrest and Incident Reports
17 February 2024 at 08:53In a proactive move to bolster anti-smuggling measures, the CBIC has issued Instruction No. 02/2024-Customs, dated February 15, 2024.
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.
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