CAclubindia News

CBDT Issues New Guidelines for Issuing Notices Under Section 148 of the Income Tax Act

09 July 2024 at 09:06

CBDT has issued new guidelines via F.No.299/10/2022-Dir(Inv.III)/1522 dated June 26, 2024. These guidelines are set to bring clarity and consistency in the handling of cases involving income that has escaped assessment.

Posted in Income Tax | 5676 Views

ACB Arrests Mastermind and Sales Tax Officer in Rs 175 Crore GST Refund Scam

08 July 2024 at 09:06

The Anti-Corruption Bureau (ACB) has arrested three individuals in connection with a ₹175 crore Goods and Services Tax (GST) refund scam.

Posted in GST | 2319 Views

Budget 2024: Savings Account Interest Up to Rs 25000 May Become Tax-Exempt

08 July 2024 at 09:05

The government is considering a proposal to increase the tax-deductible amount on interest earned from savings accounts to ₹25,000, sources familiar with the matter revealed.

Posted in Union Budget & Policy | 3150 Views

Pre-Budget Consultation Meetings for the Forthcoming Union Budget 2024-25 Conclude in New Delhi

08 July 2024 at 09:00

The Pre-Budget consultations for Union Budget 2024-25 that started from 19th June 2024 onward in the Ministry of Finance and chaired by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman, concluded on 5th July 2024.

Posted in Union Budget & Policy | 390 Views

Union Budget 2024 to be Presented by FM Nirmala Sitharaman on 23rd July 2024

06 July 2024 at 16:47

Union Finance Minister Nirmala Sitharaman is set to present the Union Budget for the financial year 2024-25 on July 23, 2024. This was confirmed by the Union Minister of Parliamentary Affairs, Kiren Rijiju, in a post on X (formerly Twitter) on July 6.

Posted in Union Budget & Policy | 3078 Views

ICAI Gains Full Power to Regulate Big Four Audit Firms

06 July 2024 at 12:54

In a landmark decision, the Delhi High Court has reaffirmed the regulatory powers of the Institute of Chartered Accountants of India (ICAI) over affiliates of the Big Four firms operating in India.

Posted in Audit | 15048 Views

MCA Announces Filing of Forms BEN-2 and MGT-6 Amid MCA 21 Portal V3 Migration

06 July 2024 at 09:23

MCA has issued General Circular No. 04/2024 on July 4, 2024, to address the filing of Forms BEN-2 and MGT-6 during the transition from the V2 Version to the V3 Version of the MCA 21 Portal.

Posted in Corporate Law | 2451 Views

Bank of Baroda Faces Rs 1067.82 Crore Income Tax Demand for AY 2017-18

06 July 2024 at 09:22

State-owned Bank of Baroda has disclosed in a regulatory filing that it has received a demand order of Rs 1,067.82 crore under Section 156 of the Income Tax Act, 1961, for the assessment year 2017-18

Posted in Income Tax | 68397 Views

New Tax Regime Boosts Tamil Nadu Transport Earnings by Rs 1.6K Crore

06 July 2024 at 09:19

The transport department in Chennai has seen a significant boost in earnings following the implementation of increased motor vehicle taxes and other charges effective from November 9 last year.

Posted in Income Tax | 3477 Views

ICAI Opens Online Redressal Window for Empanelment Application Updates for the year 2024-25

05 July 2024 at 12:55

OPENING OF ONLINE WINDOW FOR REDRESSAL OF BRANCH RELATED INFORMATION SUBMITTED BY THE APPLICANTS TO THE O/O C&AG IN THE EMPANELMENT APPLICATION FOR THE YEAR 2024-25

Posted in Professional Resource | 2016 Views