CAclubindia News

Income tax payments from senior citizens surpasses Rs. 1 lakh crore

10 April 2023 at 08:37

There has been a surprising surge in income tax payments from senior citizens during the past year, lifting the overall tax collections from the 60+ population by as much as 61.5% from pre-COVID levels to surpass ₹1 lakh crore.

Posted in Income Tax | 3678 Views

IT Department asks young man from Madhya Pradesh to pay tax of Rs 113 crore

08 April 2023 at 08:46

A man from MP's Bhind, who earns Rs 58,000 per month, has received yet another notice from the income-tax department demanding him to pay Rs.113 crore in taxes for alleged Rs.132 crore transactions in his account in 2011-12.

Posted in Income Tax | 9264 Views

GST official, two others held for extortion in Surat

08 April 2023 at 08:45

A superintendent with the Central Goods and Services Tax (GST) department and two others were arrested in Surat in Gujarat for allegedly extorting Rs 12 lakh from a shopkeeper, a police official said on Friday.

Posted in GST | 4632 Views

More than 40.82 crore loans amounting to Rs. 23.2 lakh crore sanctioned under PMMY since inception

08 April 2023 at 08:39

MUDRA helped in generation of large-scale employment opportunities at grassroots level and also proved a game changer while boosting Indian economy: Finance Minister Smt. Nirmala Sitharaman

Posted in Others | 3078 Views

Income Tax dept has internal target to issue refunds in 7 days

07 April 2023 at 08:51

The Income Tax department has been given an internal target of issuing refunds within a period of seven days. This came up during the process of drafting the budget.

Posted in Income Tax | 3906 Views

CA arrested for taking Rs 26 lakh bribe in name of IT officials

07 April 2023 at 08:50

The Punjab Vigilance Bureau (VB) arrested a chartered accountant (CA) Ankush Sareen, a resident of Ludhiana, for taking a bribe of Rs 26 lakh from a man in the name of income tax officers based in Chandigarh.

Posted in Income Tax | 13476 Views

GSTN performance improved steadily over time

07 April 2023 at 08:49

The performance of the Goods and Services Tax Network system has improved steadily over time, resulting in a steady increase in taxpayers in the country, Economic Advisory Council to the Prime Minister (EAC-PM) has said in a working paper.

Posted in GST | 5721 Views

NPS and APY enrolments cross 1.35 crore in FY 2022-23

07 April 2023 at 08:48

Total enrolments under various schemes under NPS and APY cross 1.35 crore during Financial Year 2022-23

Posted in Corporate Law | 3051 Views

RBI keeps repo rate unchanged at 6.5%

07 April 2023 at 08:47

Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent.

Posted in Others | 3831 Views

Cancelled GST registration can be applied for revocation by 30th June 2023

06 April 2023 at 08:41

Businesses whose Goods and Services Tax (GST) registrations were cancelled before December 31 for non-filing of returns can apply for revocation of the cancellation by June 30, after paying due taxes, interest and penalty.

Posted in GST | 15357 Views