CAclubindia News

Use of data analytics, big data and AI/ML in tax administration to make it more effective

28 March 2023 at 08:40

Both direct and indirect tax departments employ data analytics, big data and Artificial Intelligence/Machine Learning in tax administration to make it more effective, free of official discretion, business and taxpayers friendly

Posted in Income Tax | 5601 Views

TDS on all winnings from online gaming to come into effect from 1st April

27 March 2023 at 08:38

The TDS or tax deducted at source on online gaming applications will now be effective from 1 April, 2023 as against an earlier provision of 1 July, 2023.

Posted in Income Tax | 6687 Views

Individual taxpayers with income marginally over Rs 7 lakh to get relief under new tax regime

27 March 2023 at 08:39

The government has provided additional relief to taxpayers under the new income tax regime by tweaking it so that those earning over the tax-free limit of Rs 7 lakh per annum

Posted in Income Tax | 9822 Views

Credit card payments on foreign tours to be brought under LRS to ensure compliance with TCS

27 March 2023 at 08:38

Credit card payments for foreign travel will be brought under Reserve Bank’s Liberalised Remittance Scheme (LRS) to ensure that such expenses do not escape TCS (Tax Collection at Source).

Posted in Income Tax | 5370 Views

Key highlights of amendments to Finance Bill 2023

25 March 2023 at 08:47

The Finance Bill 2023 was been passed in Lok Sabha without a discussion and the House was adjourned to meet again on March 27.

Posted in Union Budget & Policy | 9330 Views

Lok Sabha approves setting up of GST Appellate Tribunal to solve disputes

25 March 2023 at 08:46

Lok Sabha on Friday cleared changes in the Finance Bill to pave the way for setting up of an appellate tribunal for resolution of disputes under GST.

Posted in GST | 3219 Views

Cabinet hikes Dearness Allowance by 4% for central government employees & pensioners

25 March 2023 at 08:45

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today has given its approval to release an additional instalment of Dearness Allowance to Central Governments employees and Dearness Relief to Pensioners with effect from 01.01.2023.

Posted in Community & General | 2967 Views

Develop mechanism for online audit of GST: Parliamentary Panel on Finance

24 March 2023 at 08:37

A high-level Parliamentary panel has suggested to the government to look into the possibility of developing a mechanism for online audit in GST, in order to make the process more efficient and less intrusive.

Posted in GST | 3216 Views

Finance Bill 2023 passed in Lok Sabha with over 45 amendments

24 March 2023 at 08:39

Today, i.e. 24th March, Union Finance Minister Nirmala Sitharaman will move The Finance Bill, 2023 in Lok Sabha to give effect to the financial proposals of the Central Government for the financial year 2023-2024 be taken into consideration.

Posted in Union Budget & Policy | 17628 Views

ICAI mandates CAs to file Know Your Members (KYM) from 2023-2024

23 March 2023 at 11:21

ICAI has notified CAs to file 'Know Your Members' (KYM) from 23-24 onwards.KYM also called as "Know Your Member" is a yearly activity. It is mandatory for members to file for KYM 2023-24 onwards.One of the fundamental prerequisites

Posted in Professional Resource | 48096 Views