CAclubindia News
CBDT Releases Guidelines on Tax Exemption for Life Insurance Policies u/s 10(10D) of IT Act
18 August 2023 at 08:46CBDT (Central Board of Direct Taxes) issued guidelines on the applicability of exemption under section 10(10D) of the Income Tax Act, 1961 (IT Act) for life insurance policies on August 16, 2023 vide Circular No. 15 of 2023.
CBDT Sets New Rules for Calculating Income from Life Insurance Premiums Above Rs 5 Lakh
17 August 2023 at 08:57Central Board of Direct Taxes (CBDT) notified Rule 11UACA on August 16, 2023, for tax calculation on life insurance policy amounts under section 56(2)(xiii) of the Income Tax Act, 1961 (the IT Act).
CBDT Seeks Public Input on Proposed Changes to Form No. 6C
17 August 2023 at 08:56CBDT has invited suggestions/comments on the draft Form No. 6C from stakeholders and general public. The deadline for submitting suggestions/comments is August 31, 2023.
Online Gaming Firms Confront Rs 45000 Crore Tax Demand Post 28% GST Levy
17 August 2023 at 08:55CBIC has evaluated the GST liabilities of the gaming firms in India, and it has been found that they were taxed at 18% on their gross gaming revenue, which was meant for skill-based games, instead of the legally prescribed 28%.
Income Tax Department Raises Alarm Over Surge in Deceptive Messages Targeting Taxpayers
16 August 2023 at 08:41The Income Tax Department has warned the public about a surge in fraudulent messages circulating, aimed at deceiving taxpayers into providing sensitive information.
Rs 15,000 Crore Alleged Tax Evasion by Insurance Firms Uncovered
16 August 2023 at 08:41The Income Tax department has completed its investigation into several insurance companies and uncovered alleged tax evasion amounting to more than Rs 15,000 crore (Indian rupees).
GST Applicable on X (formerly Twitter) Ad Revenue Sharing Beyond Rs 20 Lakh Annual Threshold
14 August 2023 at 08:38Income from ad revenue sharing by X (formerly Twitter) is liable to GST if it exceeds the threshold of Rs 20 lakh in a year.
ICAI Grants Relaxation to Old Course Students to commence 3 years Practical Training Under Various Routes
14 August 2023 at 08:35Relaxation to Old Course Students to commence 3 years of Practical Training
SGST Arrests Rajkot Businessman for Rs 8.7 Crore Tax Evasion in Crude Chemical Trade
14 August 2023 at 08:34One person has been arrested for ₹8.7 crore GST evasion in Gujarat. The accused, Devang Nathwani, is the key person handling the affairs of Eagle Marketing, which is involved in trading of crude chemicals.
Deloitte to quit as Adani Ports' auditor after flagging concerns
12 August 2023 at 14:00Deloitte has decided to resign as the auditor of Adani Ports & Special Economic Zone Ltd. The decision appears to be linked to concerns over certain transactions highlighted in a report by Hindenburg Research.
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