CAclubindia News

Supreme Court Declines PIL Challenging TDS System as 'Arbitrary and Irrational'

27 January 2025 at 08:58

The Supreme Court on Friday dismissed a Public Interest Litigation (PIL) seeking to declare the Tax Deducted at Source (TDS) system as "manifestly arbitrary, irrational, and violative of fundamental rights."

Posted in Income Tax | 2685 Views

Budget 2025 Expectations: Real Estate Sector Looks Forward to Policy Boosts and Tax Incentives

27 January 2025 at 08:58

The Indian real estate sector, after a remarkable recovery in 2024 with residential demand peaking at an 11-year high and office leasing activity surpassing 53.3 million square feet, anticipates crucial reforms in the Union Budget 2025-26.

Posted in Union Budget & Policy | 1743 Views

Bombay High Court Disposes of PIL Regarding Eligibility of Rebate u/s 87A of the Income Tax Act

25 January 2025 at 10:21

The Bombay High Court on January 24, 2025, disposed of the Public Interest Litigation (PIL) filed by the Chamber of Tax Consultants concerning the eligibility of the rebate under Section 87A of the Income Tax Act, 1961.

Posted in Income Tax | 4707 Views

Budget 2025: Smallcase Managers Anticipate Income Tax Reforms and Growth-Centric Policies

25 January 2025 at 09:14

The recently released Smallcase Managers Budget 2025-26 Survey Report sheds light on key expectations from the upcoming Union Budget.

Posted in Union Budget & Policy | 714 Views

CBIC cautions against fraudsters issuing fake and fraudulent Summons for GST violations

25 January 2025 at 09:13

It has been recently observed that some individuals with fraudulent intent are creating and sending fake summons to the taxpayers who may or may not be under investigation by the DGGI, CBIC.

Posted in GST | 2949 Views

GSTN Advisory: Ensure Business Continuity with e-Invoice & e-Waybill Redundancies

25 January 2025 at 08:57

Advisory on Business Continuity for e-Invoice and e-Waybill Systems

Posted in GST | 2376 Views

ICAI Releases Exposure Draft of Guidance Note on Audit of Banks (2025 Edition)

25 January 2025 at 08:56

The Auditing and Assurance Standards Board (AASB) of the Institute of Chartered Accountants of India (ICAI) has released the Exposure Draft of the Guidance Note on Audit of Banks (2025 Edition) for public comments.

Posted in Audit | 1014 Views

Bombay High Court Upholds 2007 Income Tax Amendments Affecting Bank Officers

24 January 2025 at 09:25

The Bombay High Court dismissed petitions filed by nationalized bank officers challenging the constitutional validity of the 2007 amendments to the IT Act

Posted in Income Tax | 2139 Views

SWFs Seek Tax Exemption Extension for Infrastructure in Budget 2025

24 January 2025 at 09:24

As the Union Budget 2025 approaches, foreign sovereign wealth funds (SWFs) and pension funds are lobbying for an extension of the tax exemption on their investments in India's infrastructure sector.

Posted in Union Budget & Policy | 642 Views

CBIC Issues Key Notification to Strengthen Central Excise and Service Tax Jurisdiction

24 January 2025 at 09:23

In a significant move to streamline the administration of indirect taxes, the CBIC issued Notification No. 01/2025-Central Excise (N.T.), designating and empowering specific Central Excise Officers with enhanced jurisdiction and authority.

Posted in GST | 2004 Views