CAclubindia News
NFRA Releases Revised SA 600 for Public Consultation to Strengthen Group Audits
19 September 2024 at 09:13The National Financial Reporting Authority (NFRA) has issued revised Standards on Auditing (SA 600) for public consultation, aiming to strengthen group audits in response to deficiencies highlighted in several corporate fraud cases.
FM Sitharaman Launches NPS Vatsalya: New Pension Scheme for Parents to Secure Children's Future
19 September 2024 at 08:59Union Finance Minister Smt. Nirmala Sitharaman launches NPS Vatsalya in New Delhi
Income Tax Department Raises Threshold for Filing Appeals in Tribunals and Courts
18 September 2024 at 14:40In accordance with the latest circular from the Income Tax Department, it has raised the minimum threshold for filing appeals to the Income Tax Appellate Tribunal (ITAT) and the High Courts and Supreme Court.
CBDT Issues SOP for Handling Internal Audit Objections
18 September 2024 at 09:20The Central Board of Direct Taxes (CBDT) has issued Instruction No. 2/2024 on September 09, 2024, revising the Standard Operating Procedure (SOP) for handling internal audit objections in tax assessments.
FM Sitharaman Hints at GST Rate Rationalisation to Simplify Tax Structure
18 September 2024 at 09:12On September 16th, Monday, Union Finance Minister Nirmala Sitharaman said that the Narendra Modi government is keen on the process of rationalising the GST rates to make them hassle-free and there is also the likelihood of a reduction of rates.
GSTN Issues Advisory On Re-opening of Reporting ITC Reversal Opening Balance
18 September 2024 at 09:07Vide Notification No. 14/2022 - Central Tax dated 05th July, 2022 (read with circular 170/02/2022-GST, Dated 6th July,2022), the Government introduced certain changes in Table 4 of Form GSTR-3B
GSTN Releases Draft Manual on Invoice Management System
18 September 2024 at 09:10In a significant leap forward in the Goods and Services Tax (GST) ecosystem, the GST Common Portal has unveiled a ground breaking new facility, the Invoice Management System (IMS), revolutionizing the way recipient taxpayers interact with invoices.
ICAI to Host Multipurpose Empanelment Form (MEF) for the year 2024-25
18 September 2024 at 09:04Professional Development Committee (PDC) is pleased to host the Multipurpose Empanelment Form (MEF) for the year 2024-25, which is available at https://meficai.org/.
FM Sitharaman Confirms No Tax Rate Reductions for Old Tax Regime
17 September 2024 at 11:25In a recent address at an event, Finance Minister Nirmala Sitharaman reaffirmed that the government will not be reducing tax rates under the old tax regime. This statement comes in response to ongoing calls from taxpayers for similar rate reductions
Banking Liquidity Set to Decline Amid Advance Tax and GST Outflows This Week
17 September 2024 at 09:11The banking system, after enjoying a liquidity surplus for over two months, is expected to move into deficit this week due to advance tax payments and GST outflows, according to market experts. As of Thursday, the liquidity surplus stood at Rs 1.96 t
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