CAclubindia News

RBI Announces Daily Variable Rate Repo (VRR) Auctions to Manage Liquidity

16 January 2025 at 08:54

In a significant move to manage liquidity in the banking system, the Reserve Bank of India (RBI) has decided to conduct Variable Rate Repo (VRR) auctions on all working days in Mumbai.

Posted in Community & General | 855 Views

ICAI to host World Forum of Accountants 2025 in New Delhi

16 January 2025 at 08:51

More than 8000 Delegates from over 40+ Countries congregate at the Biggest Accounting Festival in India3 Day Event, over 150+ globally renowned speakers will deliberate on 40 + insightful sessions The Institute of Chartered Accountants of India (ICAI

Posted in Professional Resource | 1443 Views

Income Tax Department Empowered to Attach Assets Under Anti-Benami Law Even Without Identifying Beneficial Owner

16 January 2025 at 08:50

In a significant ruling dated November 26, 2024, the Adjudicating Authority under the PBPT Act, 1988, upheld the Income Tax Department's power to attach assets under the anti-benami law, even if the actual owner of such properties remains unidentified.

Posted in Income Tax | 2115 Views

Commercial Tax Department Tightens Vigilance on Fake GST Credit Claims

16 January 2025 at 08:50

In response to the increasing cases of fake GST credit claims, the commercial tax department has introduced proactive measures to curb fraud at its roots.

Posted in GST | 666 Views

Income Tax Department Cracks Down on Tax Evasion in Educational Institutions

16 January 2025 at 08:50

The Income Tax Department has intensified its crackdown on tax evasion within the education sector, conducting nationwide surveys targeting schools suspected of financial irregularities.

Posted in Income Tax | 2325 Views

GSTAT Setup Delayed: Tribunals May Take Another Six Months to Become Operational

16 January 2025 at 08:49

According to a report, the much-awaited Goods and Services Tax Appellate Tribunals (GSTAT) might not be functional until mid-2025, as delays in state-level appointments and infrastructure allocation persist.

Posted in GST | 2466 Views

CBDT Approves Central Power Research Institute for Tax Benefits under Income Tax Act, 1961

16 January 2025 at 08:49

In a significant move, the Central Government has granted approval to the Central Power Research Institute (CPRI), Bengaluru, under the category of "Research Association" for "Scientific Research" as per Section 35(1)(ii) of the Income Tax Act, 1961.

Posted in Income Tax | 933 Views

GST Appeal Withdrawal Process Simplified: Key Update for Waiver Scheme Applicants

15 January 2025 at 08:05

One of the eligible conditions for filing application under waiver scheme is to withdraw the appeal applications filed against the demand order/notice/statement for which waiver application is to be submitted.

Posted in GST | 8784 Views

Net Direct Tax Collections Jump 15.88% to Rs 16.90 Lakh Crore in FY 2024-25

15 January 2025 at 07:58

According to the latest data, net direct tax collections, after refunds, have increased by 15.88%, reaching ₹16,89,928 crore.

Posted in Income Tax | 1482 Views

ICAI Announces Requirements for Applying for May 2025 CA Final Exams

15 January 2025 at 07:58

The Institute of Chartered Accountants of India (ICAI) has released comprehensive guidelines for candidates planning to appear in the May 2025 CA exams.

Posted in Students | 1 comments | 76875 Views