CAclubindia News

IT Department Uses Satellite Imagery to Crack Down on Dubious Agricultural Income Claims

14 March 2025 at 09:02

In a major tax crackdown, the Income Tax (I-T) Department has uncovered discrepancies in agricultural income declarations using satellite imagery.

Posted in Income Tax | 2511 Views

Finance Ministry: 158 GST Cases Registered Against Gaming Firms for Rs 1.53 Lakh Crore

14 March 2025 at 09:02

The Finance Ministry informed the Rajya Sabha on Tuesday that 158 cases involving Goods and Services Tax (GST) dues totaling ₹1.53 lakh crore have been registered till January 2025.

Posted in GST | 654 Views

CBIC Seeks Proposals for Reorganising CGST Commissionerates: Deadline 31st March 2025

13 March 2025 at 08:49

The Central Board of Indirect Taxes and Customs (CBIC) has initiated a comprehensive assessment of the territorial jurisdiction of Central Tax Commissionerates across all Central Tax Zones.

Posted in GST | 7755 Views

Top 5 Industrial States Contribute 72% of Direct Taxes

13 March 2025 at 08:48

The top five industrial states of India - Maharashtra, Karnataka, Delhi, Tamil Nadu and Gujarat collectively contributed more than 72% of the direct taxes and 53% of Central GST in FY 2023-24, according to data tabled in Parliament on Monday.

Posted in Income Tax | 717 Views

Personal Income Tax Collections Rise to 3.5% of GDP in FY24

13 March 2025 at 08:47

The Finance Ministry informed the Lok Sabha on Monday that personal income tax (PIT) collection as a percentage of GDP surged by 140 basis points in the last decade, reaching 3.5% in FY 2023-24, up from 2.1% in FY 2014-15.

Posted in Income Tax | 1146 Views

RBI and NCFE Launched Nationwide Campaigns to Boost Financial Literacy

12 March 2025 at 08:58

NCFE Conducts 54 Financial Education Programs in North East under National Strategy for Financial Education (NSFE), empowers diverse segments

Posted in Community & General | 408 Views

Digital Payment Transactions Surge With Over 18,000 Crore Transactions in 2024-25

12 March 2025 at 08:57

RBI, NPCI Launch Awareness Campaigns and AI-Based Solutions to Prevent Financial Cybercrimes

Posted in Community & General | 414 Views

Govt Boosts MSME Credit Access: Loans Up to Rs 25 Lakh Approved in 14 Days

12 March 2025 at 08:56

Government has taken several measures to increase credit access and finance for MSMEsFor loans up to ₹25 lakh for Micro and Small Enterprises (MSE) borrowers, credit decisions within 14 working days by the banks

Posted in Corporate Law | 654 Views

Bombay High Court Directs RBI to Accept Rs 20 Lakh in Old Demonetised Notes Seized During IT Raid

12 March 2025 at 08:54

The Bombay High Court has directed the RBI to accept Rs 20 lakh in old demonetised Rs 500 and Rs 1000 currency notes that were confiscated from a group of Kolhapur residents during an Income Tax raid on December 26, 2016

Posted in Income Tax | 3261 Views

RBI to Issue New Rs 100 and Rs 200 Banknotes Bearing Governor Sanjay Malhotra's Signature

12 March 2025 at 08:54

The Reserve Bank of India will shortly issue ₹100 and ₹200 denomination Banknotes in Mahatma Gandhi (New) Series bearing the signature of Shri Sanjay Malhotra, Governor.

Posted in Community & General | 573 Views