The Income Tax Department has clarified that the error in the 80P deduction notices was sent inadvertently. The department has assured taxpayers that an email communication addressing this issue will be sent out shortly.
An inspector with the state sales tax department in Nagpur, Maharashtra, has been arrested for allegedly attempting to extort Rs 15 lakh from a judge of the Goods and Services Tax (GST) tribunal.
The Income Tax department has taken a significant step by issuing a show-cause notice to N. Chandrababu Naidu, the former Chief Minister and Telugu Desam supremo.
As of August 31, 2023, 93% of the ₹2000 banknotes in circulation as on May 19, 2023, have been returned. The total value of the returned notes is ₹3.32 lakh crore
CBDT notified Form 71 on August 30, 2023, to enable taxpayers to claim TDS credit for income that has been declared in their ITRs for a previous assessment year, but the TDS in a subsequent financial year.
CBDT records signing of 95 APAs in FY 2022-23, the highest ever in any financial year since the launch of the APA programme
₹1,59,069 crore gross GST revenue collected during August 2023; records 11% Year-on-Year growth
Let's have a look at some of the significant developments that took place since our last communication
GSTN has issued an important advisory on reporting of ITC reversal opening balance.
Introducing Electronic Credit Reversal and Re-claimed statement on GSTN
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