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New ICSI Guidelines: Company Secretaries Can Sign E-Form MGT-7 for Only 75 Firms Starting April 2025

   19 October 2024 at 08:05

Company Secretaries to Sign E-form MGT-7 for Up to 75 Companies

Posted in Professional Resource |   1575 Views


Direct Tax Collections Soar 182% in 10 years, Hit Rs 19.60 Trillion in FY24

   19 October 2024 at 08:05

India's direct tax collections have seen an unprecedented surge of 182% in the decade under Prime Minister Narendra Modi's leadership, crossing ₹19.60 trillion in the fiscal year 2023-24.

Posted in Income Tax |   723 Views


ICAI Issues SOP for Law Enforcement Agencies on Handling Chartered Accountants During Investigations

   19 October 2024 at 08:05

ICAI has released a comprehensive Standard Operating Procedure (SOP) to guide police and other law enforcement agencies during investigations, searches, seizures, interrogations, detentions and arrests of CAs.

Posted in Professional Resource |   1977 Views


GoM Discusses Merger of GST Compensation Cess into Main Tax Structure

   19 October 2024 at 08:05

The Group of Ministers (GoM) on GST Compensation Cess, led by Minister of State for Finance Pankaj Chaudhary, convened on October 16 to explore the potential merger of the compensation cess into the broader Goods and Services Tax (GST) framework.

Posted in GST |   102 Views


Accountant Accused of Rs 5 Crore GST Scam Using Defunct Factory's GST Number

   19 October 2024 at 08:05

In a shocking incident from Jamnagar, a local accountant has been accused of scamming a factory owner by fraudulently reactivating a defunct GST number.

Posted in GST |   306 Views


CBDT Releases Updated TDS Rates for FY 2024-25

   18 October 2024 at 09:13

The Central Board of Direct Taxes (CBDT) has announced revised TDS rates for the financial year 2024-25, applicable for the assessment year 2025-26.

Posted in Income Tax |   10950 Views


CBDT Exempts RBI from TCS Requirement under Section 206C(1F) of the Income Tax Act

   18 October 2024 at 09:13

CBDT has issued Notification No. 115/2024, dated October 16, 2024, exempting the Reserve Bank of India (RBI) from the requirement of tax collection at source (TCS) under Section 206C(1F) of the Income Tax Act, 1961

Posted in Income Tax |   2439 Views


CBDT issues Revised Guidelines for Compounding Offences under IT Act 1961

   18 October 2024 at 09:12

CBDT has issued Revised Guidelines for Compounding of offences under the Income-tax Act, 1961(the 'Act') on 17.10.2024.

Posted in Income Tax |   1353 Views


CBDT releases Updated Time Series data upto FY 2023-24

   18 October 2024 at 09:11

The Central Board of Direct Taxes (CBDT) has released updated Time-Series data up to FY 2023-24.

Posted in Income Tax |   591 Views


GST Fraud Crackdown: Commissioner Unveils New Tactics, Biometric Tech to Catch Masterminds

   18 October 2024 at 09:10

Since the introduction of the Goods and Services Tax (GST) in 2017, a sophisticated scam has flourished, exploiting systemic loopholes and siphoning thousands of crores from the exchequer each year.

Posted in GST |   675 Views