In a significant development, the High Court of Karnataka has issued an interim order restraining the Bengaluru-based Institute of Chartered Tax Practitioners India (ICTPI) from enrolling candidates into various courses
It has been reported by few taxpayers that their GSTR-2B for October-2024 period has not been generated on 14th November, 2024.
In a significant milestone, more than 8 crore income tax returns (ITRs) have been filed for the assessment year (AY) 2024-25, reflecting a robust filing season.
Union Finance Minister Nirmala Sitharaman firmly rejected the Karnataka government’s allegations of "step-motherly treatment" in tax devolution, describing the claims as baseless and aimed at misleading voters.
National Financial Reporting Authority (NFRA) Chairperson Ajay Bhushan Pandey has dismissed concerns that revising audit standards for group company audits will lead to audit concentration among a few large firms.
The Goods and Services Tax Network (GSTN) has identified an issue where some taxpayers are seeing duplicate invoices in GSTR-2B for both September 2024 and October 2024.
In a major crackdown on tax evasion, Gujarat's state GST department has unearthed tax fraud amounting to over Rs 48 crore during a search and seizure operation targeting 14 copper trading firms.
SBI, HDFC Bank and ICICI Bank continue to be identified as Domestic Systemically Important Banks (D-SIBs) under the same bucketing structure as in the 2023 list of D-SIBs.
The Institute of Chartered Accountants of India (ICAI) has urged the Ministry of Corporate Affairs (MCA) to reconsider recent amendments to auditing standards proposed by the National Financial Reporting Authority (NFRA).
The Central Board of Direct Taxes (CBDT) has clarified that recent data showing higher personal income tax (PIT) collection growth compared to corporate tax does not imply that individuals are taxed more heavily than corporates.
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