CAclubindia News

Finance Ministry Grants Income Tax Exemption to UIDAI for 5 Years Until FY 2027-28

16 August 2024 at 13:04

IntroductionIn a significant move, the Ministry of Finance has granted the Unique Identification Authority of India (UIDAI) a five-year exemption from paying income tax, effective until the fiscal year 2027-28.

Posted in Income Tax | 3000 Views

CBDT Launches Probe into Foreign Remittances Exceeding Rs 6 Lakh

16 August 2024 at 08:56

The Central Board of Direct Taxes (CBDT), the apex body overseeing direct tax collection in India, has reportedly launched an extensive investigation into high-value foreign remittances exceeding ₹6 lakh.

Posted in Income Tax | 4446 Views

MCA Notifies National Financial Reporting Authority Appointment of Part-Time Members (Amendment) Rules, 2024

16 August 2024 at 08:55

On August 13, 2024, the Ministry of Corporate Affairs (MCA) issued Notification No. G.S.R. 496(E), announcing amendments to the National Financial Reporting Authority (NFRA) Appointment of Part-Time Members Rules.

Posted in Corporate Law | 405 Views

FM Sitharaman Highlights Need for Tax Revenue to Support Green Energy Innovations

15 August 2024 at 07:36

In a keynote address at the 11th convocation of the Indian Institute of Science Education and Research (IISER) Bhopal on August 13, Finance Minister Nirmala Sitharaman highlighted the critical role of tax revenue and innovation in India's transition

Posted in Income Tax | 2001 Views

Service Tax Officer Sentenced to 5 Years in Jail for Corruption in Ahmedabad

15 August 2024 at 07:32

CBI court in Ahmedabad has sentenced Hashmukh Chhaganbhai Rathod, a former superintendent in the service tax department, to five years of rigorous imprisonment on charges of corruption.

Posted in Service Tax | 2076 Views

54th GST Council Meeting Scheduled for 9th September

15 August 2024 at 07:31

The upcoming 54th GST Council meeting, scheduled for September 9, 2024, in New Delhi, is expected to address several key issues

Posted in GST | 2523 Views

MCA Notifies Companies (Indian Accounting Standards) Amendment Rules, 2024

14 August 2024 at 17:24

On August 12, 2024, the Ministry of Corporate Affairs (MCA) issued Notification No. G.S.R. 492 (E), which introduces the Companies (Indian Accounting Standards) Amendment Rules, 2024.

Posted in Corporate Law | 3099 Views

Supreme Court Rules States Can Recover Mineral Rights Tax Dues Only Until 1st April 2005

14 August 2024 at 17:24

The Supreme Court on Wednesday (August 14) rejected the argument that its July 25 judgment, which upheld the authority of States to levy taxes on mineral rights and mineral-bearing lands, should apply only prospectively.

Posted in Income Tax | 1212 Views

GST Officer and Lawyers Nabbed in Rs 718 Crore Scam with 500 Fake Firms

14 August 2024 at 09:17

IntroductionIn a stunning revelation, a complex GST fraud involving ₹54 crore has been uncovered by the Anti-Corruption Bureau (ACB) of the Delhi Government.

Posted in GST | 1 comments | 4287 Views

Bajaj Finance Faces Rs 342 Crore GST Show Cause Notice

14 August 2024 at 09:15

Bajaj Finance announced on Monday that it has been issued a show cause notice regarding a GST demand of Rs 342 crore.

Posted in GST | 957 Views