CAclubindia News

Union Budget 2025: Tax Incentives for Fixed Deposits on the Table to Boost Middle-Class Savings

06 January 2025 at 08:54

As the Union Budget 2025 approaches, Finance Minister Nirmala Sitharaman is actively engaging with representatives from the financial sector to consider key recommendations aimed at boosting middle-class savings.

Posted in Union Budget & Policy | 1 comments | 2379 Views

CAG Invites Online Applications for Empanelment of CA Firms/LLPs for 2025-26

06 January 2025 at 08:54

The Office of the Comptroller and Auditor General (CAG) of India has issued a public announcement inviting Chartered Accountant firms and LLPs to apply for empanelment for the financial year 2025-26.

Posted in Professional Resource | 6813 Views

GST Notice Issued to Pani Puri Vendor Over Rs 40 Lakh Digital Transactions

04 January 2025 at 13:59

In a surprising turn of events, a pani puri vendor has come under the scrutiny of the GST department after reportedly receiving payments amounting to Rs. 40 lakh annually.

Posted in GST | 2 comments | 18810 Views

Gujarat Records 19% Growth in GST Revenue in Q3 FY 2024-25

04 January 2025 at 09:01

Gujarat has reported a 19% increase in revenue under the Goods and Services Tax (GST) during the third quarter (Q3) of the financial year 2024-25, as compared to the same period last year.

Posted in GST | 714 Views

ICAI Submits Suggestions on Comprehensive Review of the IT Act 1961 and Pre-Budget Memorandum 2025

04 January 2025 at 08:58

Explore ICAI's preliminary inputs on the Comprehensive Review of the Income-tax Act, 1961, discussed during a stakeholder consultation chaired by the Revenue Secretary on September 18, 2024

Posted in Union Budget & Policy | 3531 Views

CBDT Issues Key Income Tax Exemptions for Credit Guarantee Entities and IFSC Units

04 January 2025 at 08:57

The Central Board of Direct Taxes (CBDT) has issued three significant notifications under the Income-tax Act, 1961, aimed at tax relief and compliance facilitation, effective from January 1, 2025.

Posted in Income Tax | 1830 Views

Online Popcorn and Movie Ticket Combo May Attract 12-18% GST

03 January 2025 at 09:03

Consuming popcorn at a movie theatre could soon cost you more, depending on how it is served and bundled with movie tickets.

Posted in GST | 2127 Views

Income Tax Department to Update ITR Forms for Section 87A Tax Rebate Claims for FY 2023-24

03 January 2025 at 09:02

The Income Tax Department has announced a major relief for resident individuals eligible to claim the Section 87A tax rebate for FY 2023-24 but were unable to do so earlier.

Posted in Income Tax | 5550 Views

RBI Rs 2000 Note Withdrawal Update: 98.12% Returned as Circulation Drops Sharply

03 January 2025 at 08:52

Explore the decline in ₹2000 banknotes in circulation, from ₹3.56 lakh crore on May 19, 2023, to ₹6,691 crore by December 31, 2024, with 98.12% of the notes returned following the withdrawal announcement

Posted in Community & General | 807 Views

Commercial Taxes Department Introduces Biometric Face Authentication for GST Registration

03 January 2025 at 08:52

The Andhra Pradesh Commercial Taxes Department, in collaboration with the Goods and Services Tax Network (GSTN), has launched an innovative Biometric Face Authentication feature for GST registration.

Posted in GST | 888 Views