CAclubindia News

Income Tax Dept Clarifies: No Freeze, Just Lien on Congress' Bank Accounts

19 February 2024 at 09:02

In a recent development concerning the financial affairs of the Congress party, the Income Tax department clarified its stance before the ITAT, stating that it had not issued any directive to freeze the transactions in Congress' bank accounts.

Posted in Income Tax | 4356 Views

MSME Minister Launches Rs 20 Lakh Scheme for GST-Exempted Micro Units Under CGTMSE

19 February 2024 at 09:02

MSME Minister Narayan Rane has initiated a transformative scheme tailored for Informal Micro Enterprises (IMEs), aiming to enhance their access to credit facilities and alleviate financial constraints.

Posted in GST | 1 comments | 42660 Views

CBIC Releases Revised Guidelines and Formats for Arrest and Incident Reports

17 February 2024 at 08:53

In a proactive move to bolster anti-smuggling measures, the CBIC has issued Instruction No. 02/2024-Customs, dated February 15, 2024.

Posted in GST | 3960 Views

Income Tax Notices Sent to Taxpayers for Donations to Unrecognized Political Parties

17 February 2024 at 08:50

The Income Tax Department has initiated a probe into political donations made to registered yet unrecognized political parties during the financial years 2020-21 and 2021-22

Posted in Income Tax | 5526 Views

TRACES: Lower/Nil TDS Deduction Application Window Open for FY 2023-24 & 2024-25

17 February 2024 at 08:48

TAN system has introduced the TDS Reconciliation Analysis and Correction Enabling System (TRACES), offering taxpayers the opportunity to file for lower or nil deduction of TDS, thereby enhancing their financial position.

Posted in Income Tax | 4818 Views

RBI Takes Action Against Paytm Payments Bank under Banking Regulation Act

17 February 2024 at 08:45

Action against Paytm Payments Bank Ltd under Section 35A of the Banking Regulation Act, 1949

Posted in Others | 2523 Views

Central Government Notifies Finance Act 2024

16 February 2024 at 17:17

The Indian government has officially notified the Finance Act, 2024, after its passage through the Parliament and receiving the President's assent on February 15, 2024.

Posted in Union Budget | 5892 Views

Builders Under GST Scrutiny: Notices Issued to Reverse ITC

16 February 2024 at 08:58

In a significant development, the Goods and Services Tax (GST) department has initiated action against numerous builders, issuing notices to reverse Input Tax Credit (ITC) claimed for the fiscal years 2017-18 and 2018-19.

Posted in GST | 1 comments | 18489 Views

Star Health Faces Rs 170 Crore GST Demand, Rs 8.7 Crore Penalty Notice

16 February 2024 at 08:58

In a recent development, Star Health and Allied Insurance Company Ltd disclosed receiving a significant tax demand order amounting to Rs 170 crore

Posted in GST | 2604 Views

Supreme Court Strikes Down Electoral Bonds, Halts SBI Issuance

15 February 2024 at 13:02

On February 15th, the Supreme Court delivered its long-awaited verdict on a series of petitions challenging the Electoral Bond scheme, a system allowing for anonymous funding to political parties. The landmark judgment, delivered by a five-judge Cons

Posted in Others | 5394 Views