CAclubindia News

CBDT Launches Electronic Campaign to Address Income and Transaction Mismatches for FY 2023-24 and FY 2021-22

17 December 2024 at 15:35

CBDT has launched an electronic campaign to assist taxpayers in resolving mismatches between the income and transactions reported in the AIS and those disclosed in ITRs for the financial years 2023-24 and 2021-22.

Posted in Income Tax | 2025 Views

Higher Taxes Will Drive Capital Away, Warns CEA Nageswaran

17 December 2024 at 09:20

Chief Economic Advisor (CEA) V Anantha Nageswaran emphasized on Friday that taxing capital less may not significantly boost investments, but taxing it more could deter capital flow and harm the economy.

Posted in Income Tax | 1224 Views

Rs 4.67 Crore Tax for D Gukesh: Fans Target FM Sitharaman After Chess Win

17 December 2024 at 09:17

While the nation celebrated Gukesh's incredible achievement, a section of fans humorously congratulated the Income Tax Department and Finance Minister Nirmala Sitharaman

Posted in Income Tax | 4668 Views

New Income-Tax Bill Unlikely in Budget 2025 Session

17 December 2024 at 09:13

The Finance Ministry is unlikely to introduce the much-anticipated new Income-Tax Bill during the upcoming Budget session of Parliament.

Posted in Income Tax | 2685 Views

DGGI Arrests Four in Rs 293 Crore Fake ITC Scam Across Multiple States

17 December 2024 at 09:10

In a significant crackdown on tax evasion, the DGGI, Visakhapatnam Zonal Unit, has arrested four individuals, including a resident of Proddatur in YSR Kadapa district, for orchestrating a Rs 293 crore GST fraud

Posted in GST | 657 Views

CAG Report Flags Rs 755.49 Crore GST Revenue Loss in Commercial Tax Department

16 December 2024 at 09:11

A Comptroller and Auditor General (CAG) report tabled in the Assembly on Thursday has highlighted significant revenue lapses within the Goods and Services Tax (GST) and Stamps and Registrations Departments.

Posted in GST | 2 comments | 13488 Views

IT Department Issues Notices to Indian Residents for Undeclared Foreign ESOPs and Assets

16 December 2024 at 09:07

Notices are being sent to employees of MNCs holding ESOPs from foreign parent companies, especially those who failed to declare dividend income or ownership of such shares in their ITRs.

Posted in Income Tax | 2181 Views

GST Registration Advisory: Biometric Aadhaar Authentication and Document Verification Rolled Out in Chhattisgarh, Goa & Mizoram

16 December 2024 at 09:01

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Chhattisgarh, Goa and Mizoram

Posted in GST | 306 Views

Retailers Oppose 35% GST Slab, Urge Finance Minister and Council to Reconsider

14 December 2024 at 09:11

The Indian Sellers Collective, a coalition of trade associations and sellers across India, has strongly opposed the proposal for a fifth GST slab with a 35% rate on demerit goods like aerated beverages, cigarettes, and tobacco.

Posted in GST | 1572 Views

West Bengal Passes GST Amendment Bill 2024 Aligned with Council Recommendations

14 December 2024 at 09:10

West Bengal Finance Minister Chandrima Bhattacharya on Wednesday presented the West Bengal Goods and Services Tax (Amendment) Bill, 2024, aligning the state’s GST framework with recommendations ratified by the GST Council.

Posted in GST | 486 Views