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CBIC Issues Corrigendum to Clarify Provisions Under Section 16 of CGST Act, 2017

   28 October 2024 at 08:48

The CBIC issued a corrigendum on October 25, 2024, to Circular No. 237/31/2024-GST, addressing implementation issues related to Section 16(5) and 16(6) of the CGST Act, 2017.

Posted in GST |   2136 Views


GST Panel Recommends Raising Affordable Housing Price Limit to Rs 56 Lakh Nationwide

   28 October 2024 at 08:45

A government panel is considering raising the affordable housing price limit from ₹45 lakh to ₹56 lakh for the 1% GST rate, potentially making homes more affordable across India.

Posted in GST |   1020 Views


Biometric-Based Aadhaar Authentication Introduced for GST Registrations to Curb Tax Fraud

   28 October 2024 at 08:43

From October 8, biometric-based Aadhaar authentication and document verification will be mandatory for GST registration to combat tax fraud, the State GST Department announced.

Posted in GST |   1074 Views


CBDT Extends Due Date for Audited IT Returns for AY 2024-25 to 15th Nov 2024

   26 October 2024 at 11:26

On October 26, 2024, the Central Board of Direct Taxes (CBDT) announced an extension for filing the Return of Income for the Assessment Year (AY) 2024-25.

Posted in Income Tax  2 comments |   42147 Views


Income Tax Department Releases Updated Common Offline Utility for Filing ITR 1 to ITR 4 for AY 2024-25

   26 October 2024 at 08:51

The Income Tax Department has launched the latest version (1.1.7) of the Common Offline Utility for filing Income-tax Returns (ITR) 1 to ITR 4 for Assessment Year 2024-25.

Posted in Income Tax |   654 Views


Income Tax Department Releases Updated Utilities and Schema for ITR-7 Filing

   26 October 2024 at 08:49

The Income Tax Department has released the latest version of utilities and schema for filing ITR-7, applicable to persons, including companies, required to furnish returns under sections 139(4A), 139(4B), 139(4C), and 139(4D)

Posted in Income Tax |   489 Views


Loan Limit Under PMMY Doubled to Rs 20 Lakh for Small Businesses

   26 October 2024 at 08:45

Loan limit under Pradhan Mantri Mudra Yojana (PMMY) increased to Rs.20 lakh from the current Rs.10 lakh

Posted in Corporate Law  1 comments |   567 Views


CA Foundation & Intermediate September 2024 Results likely to be declared on 30th October 2024

   26 October 2024 at 08:45

The results of the Chartered Accountants Intermediate and Foundation Examinations held in September 2024 are likely to be declared on Wednesday, the 30th October 2024

Posted in Students |   975 Views


Massive GST Raid in Thrissur: 104 kg of Unaccounted Gold Seized by Officials in Kerala

   25 October 2024 at 08:53

In a surprise operation, the State GST (SGST) department conducted one of Kerala's largest-ever raids on gold jewellers in Thrissur, seizing 108kg of gold linked to tax evasion.

Posted in GST |   1572 Views


Number of High-Income Taxpayers in India Rises Fivefold in a Decade

   25 October 2024 at 08:51

The number of Indian taxpayers with taxable incomes exceeding ₹1 crore has surged more than fivefold, reaching nearly 2.3 lakh in the assessment year (AY) 2023-24, compared to just 44,078 in AY 2013-14, according to a report. This significant rise re

Posted in Income Tax |   1674 Views



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