CAclubindia News
IT Dept to Utilize AI Regression Model for Detecting Deviations: Tax Official
31 July 2023 at 08:42The usage of artificial intelligence (AI) by the Income Tax department to build regression models is aimed at identifying deviations and errors in tax filing.
GSTN Introduces Mandatory CA/EC Number Tabs in State Specific Information Section
31 July 2023 at 08:41GSTN 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.
IT Department Conducts Raids on Haier Offices in Noida, Mumbai and Pune
29 July 2023 at 12:06Income 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.
Over 5 crore ITRs filed for AY 2023-24 by 27th July breaking last year's record
29 July 2023 at 10:32The 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.
Govt Accepts Panel's Recommendation for Online GST Audit Mechanism
29 July 2023 at 08:58Union government has accepted the recommendation to set up an online audit mechanism under the Goods and Services Tax (GST) to streamline the process.
GSTN Implements Rule-86B Tab to Control Electronic Credit Ledger Funds
29 July 2023 at 08:57GSTN has introduced a new tab, Rule-86B, which restricts the use of the amount available in the Electronic Credit Ledger.
GSTN Implements Enhanced PPOB Metadata Collection for Improved Tracking and Management
29 July 2023 at 08:56The GSTN has recently announced that it will be collecting metadata of the Principal Place of Business (PPOB) for all registered taxpayers
RBI clarifies Star Series bank notes are legal
28 July 2023 at 10:41On 27th July the Reserve Bank of India (RBI) clarified that banknotes with a star (*) symbol are legal and valid currency.
CBDT issued clarification in respect of Rule 114F (5) of IT Rules
28 July 2023 at 08:49CBDT, 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.
CBDT Condones Delay in Filing Returns Claiming Deduction u/s 80P for AY 2018-19 to AY 2022-23
28 July 2023 at 08:48CBDT 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.
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