CAclubindia News

Centre Likely to Retain Direct Tax Revenue Estimates in Revised Projections

12 November 2024 at 05:58

As per sources within the Finance Ministry, the Centre is likely to maintain its original budgeted estimate of ₹22.07 lakh crore for direct tax collection when it revises estimates in February.

Posted in Income Tax | 576 Views

Finance Ministry Highlights Digital Innovations in RRBs, Urges Expansion of Customer-Centric Services

11 November 2024 at 06:44

Focus of the meeting was business performance, upgrading digital technology services, and fostering business growth in activities allied to agriculture and micro and small industry

Posted in Income Tax | 804 Views

CII Urges Tax Reforms and Increased Capital Investment in Union Budget 2025-26

11 November 2024 at 06:44

In a pre-Budget meeting with Revenue Secretary Sanjay Malhotra, the Confederation of Indian Industry (CII) urged the government to continue tax reforms and boost capital expenditure in the Union Budget for 2025-26.

Posted in Income Tax | 1422 Views

Industry Bodies Urge Finance Ministry to Simplify TDS Rates in Union Budget 2025

11 November 2024 at 06:44

In anticipation of the Union Budget 2025, leading industry bodies have urged the finance ministry to streamline the tax deducted at source (TDS) structure, aiming to reduce the compliance burden and minimize litigation for taxpayers, as per reports.

Posted in Income Tax | 1794 Views

CBIC Simplifies Compliance for Customs Cargo Service Providers with New Insurance and Licensing Relaxations

09 November 2024 at 07:14

CBIC introduces relaxations for Customs Cargo Service Providers (CCSPs) by reducing number of days for insurance of storage goods and withdrawal of licence renewal process for AEO-compliant CCSPs

Posted in Custom | 687 Views

Supreme Court Revives Rs 20,000 to 23,000 Crore in DRI Tax Notices Against Leading Companies

09 November 2024 at 07:02

On Thursday, the Supreme Court of India reinstated tax notices worth an estimated ₹20,000-23,000 crore issued by the Directorate of Revenue Intelligence (DRI) to several major corporations, including Vedanta Ltd, Vodafone Idea Ltd, Adani Enterprises

Posted in Income Tax | 2175 Views

Supreme Court Rules Salaries of Nuns and Priests in Aided Schools Are Subject to Income Tax

09 November 2024 at 07:00

In a landmark judgment, the Supreme Court on Thursday upheld the Madras High Court's ruling that salaries paid to priests and nuns working as teachers in church-run, government-aided schools are subject to income tax.

Posted in Income Tax | 1854 Views

GSTN Issues Waiver Scheme under Section 128A

08 November 2024 at 16:03

GST Council in its 53rd meeting held on 22nd June, 2024 had recommended for waiver of interest and penalties in the demand notices or orders issued under Section 73 of the CGST Act, 2017

Posted in GST | 6120 Views

ICAI Announces Revised Criteria for Classification of Non-Company Entities for Applicability of Accounting Standards

08 November 2024 at 12:39

The Council, at its 433rd meeting, held on August 13-15, 2024, considered the revised criteria for classification of Non-company entities for applicability of Accounting Standards issued by The Institute of Chartered Accountants of India (ICAI)

Posted in Accounts | 7020 Views