CAclubindia News
Personal Income Tax Collection Surges 294% in FY24
21 October 2024 at 08:41India's personal income tax collection rose by 294% over a decade, reaching Rs 10.45 lakh crore in FY24, while corporate tax collections grew by 112%. Tax compliance, return filings, and India's tax-to-GDP ratio also improved.
Income Tax Department Releases Handbook on Judicial Matters for Internal Use Only
21 October 2024 at 08:41Explore key insights from the Handbook on Judicial Matters, including guidelines for filing appeals in the ITAT, High Court, NCLT and NCLAT, along with prosecution procedures and more.
Direct Tax Share in GDP Reaches 24-Year High at 6.64% in FY24
21 October 2024 at 08:40Direct taxes surged to 6.64% of GDP in FY24, with collections rising by 17.82%, outpacing nominal GDP growth. Personal income tax collections also surpassed corporation tax for the second year in a row.
New ICSI Guidelines: Company Secretaries Can Sign E-Form MGT-7 for Only 75 Firms Starting April 2025
19 October 2024 at 08:05Company Secretaries to Sign E-form MGT-7 for Up to 75 Companies
ICAI Issues SOP for Law Enforcement Agencies on Handling Chartered Accountants During Investigations
19 October 2024 at 08:05ICAI has released a comprehensive Standard Operating Procedure (SOP) to guide police and other law enforcement agencies during investigations, searches, seizures, interrogations, detentions and arrests of CAs.
Direct Tax Collections Soar 182% in 10 years, Hit Rs 19.60 Trillion in FY24
19 October 2024 at 08:05India's direct tax collections have seen an unprecedented surge of 182% in the decade under Prime Minister Narendra Modi's leadership, crossing ₹19.60 trillion in the fiscal year 2023-24.
GoM Discusses Merger of GST Compensation Cess into Main Tax Structure
19 October 2024 at 08:05The Group of Ministers (GoM) on GST Compensation Cess, led by Minister of State for Finance Pankaj Chaudhary, convened on October 16 to explore the potential merger of the compensation cess into the broader Goods and Services Tax (GST) framework.
Accountant Accused of Rs 5 Crore GST Scam Using Defunct Factory's GST Number
19 October 2024 at 08:05In a shocking incident from Jamnagar, a local accountant has been accused of scamming a factory owner by fraudulently reactivating a defunct GST number.
CBDT Releases Updated TDS Rates for FY 2024-25
18 October 2024 at 09:13The Central Board of Direct Taxes (CBDT) has announced revised TDS rates for the financial year 2024-25, applicable for the assessment year 2025-26.
CBDT Exempts RBI from TCS Requirement under Section 206C(1F) of the Income Tax Act
18 October 2024 at 09:13CBDT has issued Notification No. 115/2024, dated October 16, 2024, exempting the Reserve Bank of India (RBI) from the requirement of tax collection at source (TCS) under Section 206C(1F) of the Income Tax Act, 1961
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