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ICAI releases Guidance Note on Audit of Banks - 2024 Edition

   15 February 2024 at 09:07

The 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.

Posted in Audit |   5061 Views


Empanelment of Members to act as Observers at Examination Centres for CA May/June 2024 Exams

   15 February 2024 at 09:06

ICAI proposes to empanel members to act as Observers for the forthcoming MAY/JUNE -2024 Chartered Accountants Examinations

Posted in Students |   15900 Views


Indian Govt Considers Postponing Section 43B(h) Following Industry Pressure

   14 February 2024 at 09:04

Amidst mounting pressure from trade and industry organizations, the Indian government is considering delaying the implementation of Section 43B(h) of the Income Tax Act.

Posted in Income Tax |   11025 Views


GST Council Set to Clarify Expat Salary Taxation Amidst Controversy

   14 February 2024 at 09:02

The Goods and Services Tax (GST) Council is deliberating on issuing a circular to resolve the recent controversy surrounding notices sent to Indian subsidiaries of foreign companies regarding the taxation of salaries paid to expatriates.

Posted in GST |   2637 Views


PIB Fact Check: Section 43B(h) of Income Tax Act Unchanged for MSME Payments

   13 February 2024 at 17:11

Recently, a viral message has been circulating on social media platforms claiming that alterations have been made to the provisions of Section 43B(h) concerning payments to Micro, Small, and Medium Enterprises (MSMEs) by the Finance Ministry

Posted in Income Tax  1 comments |   9609 Views


Industry Urges Govt for Doubling GST Registration Threshold to Rs 40 Lakh

   13 February 2024 at 09:13

During FTCCI event, industry leaders urged the Chief Minister and State Finance Minister to consider raising the GST registration threshold from Rs 20 lakh to Rs 40 lakh annually

Posted in GST |   3852 Views


Supreme Court Issues Notice to Central Govt on GST Anti-Profiteering Provisions

   13 February 2024 at 09:12

The Supreme Court has taken a significant step by issuing a notice to the union government regarding the constitutional validity of anti-profiteering provisions under the Goods and Services Tax (GST).

Posted in GST |   3261 Views


UPI Goes Global - Payments Now Accepted in 7 Countries

   13 February 2024 at 09:11

In a significant move to enhance cross-border digital transactions, the Ministry of External Affairs announced the extension of Unified Payment Interface (UPI) services to Sri Lanka and Mauritius.

Posted in Others |   2772 Views


Taxpayers Can Opt for FY 2024-25 Composition Scheme on GST Portal by 31st March 2024

   13 February 2024 at 09:09

GSTN has introduced a significant update, enabling taxpayers to opt for the Composition Scheme for the Financial Year 2024-25.

Posted in GST |   6597 Views


ICAI elects New Torchbearers for the year 2024-25

   12 February 2024 at 14:56

New President and Vice-President elected for ICAI term 2024-25: CA Ranjeet Kumar Agarwal and CA Charanjot Singh Nanda.

Posted in Professional Resource |   16596 Views



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