CAclubindia News

Excel Utility of ITR-5 for AY 2024-25 is now available for filing

11 June 2024 at 08:58

The Income Tax Department has released the Excel Utility for ITR-5 for the Assessment Year (AY) 2024-25, streamlining the tax filing process for entities required to submit this form.

Posted in Income Tax | 693 Views

Nirmala Sitharaman Reappointed as Finance Minister in Modi's Third Cabinet

11 June 2024 at 08:58

In a significant move, Prime Minister Narendra Modi's government has reappointed Nirmala Sitharaman as the Finance Minister. The official announcement came on June 10, a day after the ministers took the oath alongside Modi.

Posted in Others | 2844 Views

Centre releases Rs 1.39 lakh crore installment of Tax Devolution to States

11 June 2024 at 08:57

It has been decided that apart from the regular release of the devolution amount for the month of June 2024, one additional instalment will be released. This release cumulatively amounts to Rs. 1,39,750 crore in the current month

Posted in Income Tax | 366 Views

IDBI Bank Receives Rs 2702 Crore Income Tax Refund for AY 2016-17

10 June 2024 at 08:59

Private sector lender IDBI Bank Ltd announced on Friday, June 7, that it has received an income tax refund order amounting to ₹2,701.62 crore for the assessment year 2016-17.

Posted in Income Tax | 582 Views

DGGI Arrests Man for Rs 37.2 Crore Fake ITC Fraud

10 June 2024 at 08:57

Officials from the Directorate General of GST Intelligence (DGGI), Coimbatore, have arrested an individual for availing of fake input tax credit amounting to ₹37.2 crore and passing on fake input tax credit worth ₹65.42 crore.

Posted in GST | 897 Views

DGGI Investigates Airlines Retaining Taxes from No-Show Passengers

10 June 2024 at 08:57

In a recent move, the Directorate General of Goods and Services Tax Intelligence (DGGI) has launched investigations into airlines retaining taxes collected from customers in no-show scenarios

Posted in GST | 711 Views

Central Excise Bill, 2024 Expected to be Introduced in Upcoming Budget Session

10 June 2024 at 08:54

The Centre is set to introduce the Central Excise Bill, 2024, during the upcoming budget session, aiming to replace the long-standing Central Excise Act, 1944

Posted in Excise | 2322 Views

GST SRM-II Form Release: Key Filing Information for Pan Masala and Tobacco Manufacturers

08 June 2024 at 09:12

Filing of information by manufacturers of Pan Masala and Tobacco taxpayersPlease refer to the notification Notification No. 04/2024 - Central Tax dated 05-01-2024 to seek information from taxpayers dealing in the goods mentioned therein. Two forms ha

Posted in GST | 2424 Views

Famous Ice-Cream Brands from Surat Under SGST Scanner for Cash Transactions

08 June 2024 at 09:09

The State Goods and Service Tax (SGST) department in Surat has delved into the financial dealings of renowned ice-cream brands, including Bismillah and 51-Rainbow, unearthing serious irregularities.

Posted in GST | 4167 Views

ICAI Seeks AI Proposals: Invitation to AI Firms for Finance and Accounting Solutions

08 June 2024 at 08:59

The AI Committee of ICAI invites unconditional Expressions of Interest (Technical Proposals) from experienced AI companies that have developed AI tools for finance, accounting, tax compliance, legal document drafting, and AI similar services.

Posted in Professional Resource | 2988 Views