CAclubindia News

IT Dept to Utilize AI Regression Model for Detecting Deviations: Tax Official

31 July 2023 at 08:42

The usage of artificial intelligence (AI) by the Income Tax department to build regression models is aimed at identifying deviations and errors in tax filing.

Posted in Income Tax | 30906 Views

GSTN Introduces Mandatory CA/EC Number Tabs in State Specific Information Section

31 July 2023 at 08:41

GSTN has introduced new tabs in the 'State Specific Information' section of the GST registration form to collect Consumer Agreement (CA) or Electricity Consumer (EC) numbers.

Posted in GST | 23118 Views

IT Department Conducts Raids on Haier Offices in Noida, Mumbai and Pune

29 July 2023 at 12:06

Income Tax Department (I-T) is currently conducting searches at multiple locations in Mumbai, Pune, and Noida, including the offices and premises of promoters of Chinese home appliance company Haier.

Posted in Income Tax | 5304 Views

Over 5 crore ITRs filed for AY 2023-24 by 27th July breaking last year's record

29 July 2023 at 10:32

The fact that over 5 crore ITRs have already been filed till 27th July 2023, as compared to 30th July last year, shows a commendable commitment to meeting tax obligations promptly.

Posted in Income Tax | 14025 Views

Govt Accepts Panel's Recommendation for Online GST Audit Mechanism

29 July 2023 at 08:58

Union government has accepted the recommendation to set up an online audit mechanism under the Goods and Services Tax (GST) to streamline the process.

Posted in GST | 1 comments | 3882 Views

GSTN Implements Rule-86B Tab to Control Electronic Credit Ledger Funds

29 July 2023 at 08:57

GSTN has introduced a new tab, Rule-86B, which restricts the use of the amount available in the Electronic Credit Ledger.

Posted in GST | 12423 Views

GSTN Implements Enhanced PPOB Metadata Collection for Improved Tracking and Management

29 July 2023 at 08:56

The GSTN has recently announced that it will be collecting metadata of the Principal Place of Business (PPOB) for all registered taxpayers

Posted in GST | 23709 Views

RBI clarifies Star Series bank notes are legal

28 July 2023 at 10:41

On 27th July the Reserve Bank of India (RBI) clarified that banknotes with a star (*) symbol are legal and valid currency.

Posted in Others | 9981 Views

CBDT issued clarification in respect of Rule 114F (5) of IT Rules

28 July 2023 at 08:49

CBDT, Foreign Tax & Tax Research Division has issued vide F. No. 500/34/2019-FT&TR-III(Pt.)/1 dated July 26, 2023 issued clarification in respect of Rule 114F (5) of the Income Tax Rules, 1962.

Posted in Income Tax | 7365 Views

CBDT Condones Delay in Filing Returns Claiming Deduction u/s 80P for AY 2018-19 to AY 2022-23

28 July 2023 at 08:48

CBDT issued Circular No. 13/2023 dated July 26, 2023 regarding condonation of delay in filing returns of income claiming deduction under section 80P of the IT Act for various assessment years from AY 2018-19 to AY 2022-23.

Posted in Income Tax | 11298 Views