CAclubindia News

Budget 2024: Property Owners to Face Higher Taxes as Loophole is Plugged

31 July 2024 at 08:58

In the Union Budget 2024, Finance Minister Nirmala Sitharaman announced a significant change in the taxation of rental income from residential properties. To curb tax evasion, it has been mandated that such income can only be declared under the 'Inco

Posted in Union Budget & Policy | 2 comments | 4776 Views

New Fund Established to Support MSMEs Amidst Controversial 45-Day Payment Rule

31 July 2024 at 08:56

In the Union Budget 2024-25, FM has addressed the central government’s controversial 45-day payment rule by announcing a new fund in collaboration with banks to support India's cash-strapped MSMEs.

Posted in Union Budget & Policy | 2688 Views

Ex-Chief Secretary Somesh Kumar and Four Others Face FIR for Alleged GST Violations

30 July 2024 at 09:10

Hyderabad's Central Crime Station (CCS) has filed a case against former Telangana Chief Secretary Somesh Kumar and two senior commercial tax officers for alleged GST violation

Posted in GST | 3933 Views

Finance Ministry Clarifies: Tax Certificate Not Mandatory for All Travelling Abroad

30 July 2024 at 09:04

The Indian government has issued a clarification to address recent misleading reports about mandatory tax clearance for individuals travelling abroad.

Posted in Income Tax | 4491 Views

Income Tax Department Warns: Bogus Claims for Refunds are Punishable Offenses

30 July 2024 at 09:03

Income Tax Department has issued a stern warning to taxpayers against making fraudulent claims. The department cautions that inflating expenses, under-reporting earnings is a punishable offense and may cause delays in refund issuance.

Posted in Income Tax | 4860 Views

CBIC detects Rs. 36374 crore worth of fake ITC in FY 2023-24

30 July 2024 at 09:02

Central Tax formations under CBIC detect Rs. 36,374 crore worth of fake Input Tax credit (ITC) involving 9,190 cases in FY 2023-24

Posted in GST | 1404 Views

ICAI Issues Amendments to AS 22, Accounting for Taxes on Income

30 July 2024 at 09:00

Considering that entities may need time to determine how to apply the principles and requirements in AS 22, Accounting for Taxes on Income (issued by the ICAI) to account for deferred taxes related to top-up tax

Posted in Income Tax | 891 Views

Pass Percentage of CA Foundation June 2024 Exams

29 July 2024 at 19:59

Discover the pass percentage for the CA Foundation June 2024 exams.

Posted in Students | 3501 Views

CA Foundation June 2024 Results Declared

29 July 2024 at 19:49

The Institute of Chartered Accountants of India has declared the results for the June 2024 Foundation Exams

Posted in Students | 585 Views

Govt to Unveil Revised Direct Tax Code After 6-Month Comprehensive Review: Revenue Secretary

29 July 2024 at 09:03

The central government is yet to decide whether to introduce a new Direct Taxes Code or revamp the existing income tax law, stated Revenue Secretary Sanjay Malhotra at a recent post-Budget conference organized by Assocham in the Capital.

Posted in Income Tax | 1605 Views