CAclubindia News


Central Tax Officials Uncover Rs 824 Crore GST Evasion by Cryptocurrency Exchanges

   04 December 2024 at 08:45

Central tax officials have uncovered goods and services tax (GST) evasion amounting to ₹824.14 crore across 17 cryptocurrency exchanges, Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha on December 2.

Posted in GST |   570 Views


Income Tax Practitioners Sentenced to 3 Years in Jail for TDS Refund Fraud

   03 December 2024 at 09:04

A special Central Bureau of Investigation (CBI) court in Ahmedabad on Friday convicted two income tax practitioners, Suresh Prajapati and Shobhna Prajapati, for fraudulently obtaining TDS refunds using false or forged certificates.

Posted in Income Tax |   73767 Views


Income Tax Department Launches State-Wide Searches on Builder Group for Suspected Tax Evasion

   03 December 2024 at 09:00

In a coordinated operation, multiple teams comprising around 170 Income Tax (I-T) officials launched extensive searches on three interconnected real estate firms on Friday morning.

Posted in Income Tax |   2022 Views


NFRA Chief Highlights Significant Improvements in Company Auditing Over Last 3-4 Years

   03 December 2024 at 08:59

The auditing landscape in India has seen significant improvement over the past three to four years, according to Ajay Bhushan Prasad Pandey, Chairperson of the National Financial Reporting Authority (NFRA).

Posted in Audit |   2352 Views


RBI Reports 98% Return of Rs 2000 Banknotes Post Withdrawal Announcement

   03 December 2024 at 08:55

98.08% of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned

Posted in Community & General |   441 Views


CBDT Exempts Diplomatic Missions and UN Agencies from Section 194N Provisions

   02 December 2024 at 09:11

In a significant development, the CBDT has issued Notification No. 123/2024, dated Nov 28, 2024, exempting specific foreign representations and international organizations from the provisions of Section 194N of the IT Act, 1961.

Posted in Income Tax |   2325 Views


UPI Processes 16 Billion Transactions Worth Rs 23.49 Lakh Crores in October 2024

   02 December 2024 at 09:10

IntroductionIn October 2024, Unified Payments Interface (UPI) achieved a historic milestone by processing 16.58 billion financial transactions in a single month, underscoring its pivotal role in India's digital transformation.

Posted in Community & General |   1428 Views


Record Rs 1.82 Lakh Crore GST Collection in November Marks 8.5% Growth

   02 December 2024 at 09:07

India's GST revenue for November 2024 recorded a significant growth of 8.5% compared to November 2023, reaching a total of ₹1,82,269 crore.

Posted in GST |   1653 Views


ICAI's Role in Strengthening Capital Markets: A Pathway to Economic Growth and Investor Protection

   02 December 2024 at 09:06

In the dynamic landscape of global finance, Capital markets play an indispensable role in the economic development and progress of a nation, serving as the lifeblood of a nation's financial system.

Posted in Professional Resource |   1836 Views


CBDT Pushes for Swift Review of Income-Tax Act: Officers to Station in Delhi

   02 December 2024 at 09:02

In a significant step towards the modernization of India's direct tax laws, the CBDT has instructed 28 officers involved in the comprehensive review of the six-decade-old Income-tax Act to work from Delhi between December 2 and December 27.

Posted in Income Tax |   4503 Views



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