CAclubindia News

Direct tax collection doubled for first quarter of current fiscal

27 July 2021 at 20:39

Shri Pankaj Chaudhary stated that the net direct tax collection in the 1st quarter of FY 2021-2022 is Rs. 2,46,519.82 crore as against Rs. 1,17,783.87 crore during the same period of previous FY 2020-21.

Posted in Income Tax | 1464 Views

Rs 24,356 crore of unclaimed deposit lying with SCBs as on 31st Dec 20

27 July 2021 at 20:29

As per information received from the Reserve Bank of India, the total amount of unclaimed deposits of Scheduled Commercial Banks was Rs. 24,356 crore, as on 31.12.2020. Unclaimed deposits have increased by Rs. 5,977 crore in the year 2020.

Posted in Others | 2826 Views

320 foreign companies registered in India between 2018 and 2021

27 July 2021 at 20:21

A total of 320 foreign companies registered in the country during the last three years. This was stated by Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Rajya Sabha.

Posted in Others | 1200 Views

Government identified 2,38,223 companies as shell companies between 2018-2021

27 July 2021 at 20:15

Shri Rao Inderjit Singh further stated that the Special Task Force set up by the Government to look into the issue of "Shell Companies" has inter-alia recommended the use of certain red flag indicators as alerts for identification of Shell Companies.

Posted in Corporate Law | 3018 Views

GSTN | New functionality on Annual Aggregate Turnover deployed on GST Portal for taxpayers

27 July 2021 at 20:05

The taxpayers can now see the exact Annual Aggregate Turnover for the previous FY, instead of just the two slabs of Above or Upto Rs. 5 Cr. Taxpayers can also see the AATO of the current FY based on the returns filed to date.

Posted in GST | 8514 Views

Financial assistance towards MSMEs

27 July 2021 at 06:33

In view of the challenges faced by taxpayers due to the outbreak of COVID-19, the Government of India has taken several taxation related measures for MSMEs. Financial Assistance has also been provided to MSMEs.

Posted in Corporate Law | 5166 Views

ICAI releases the 12th edition of the Code of Ethics for its Members

27 July 2021 at 06:31

ICAI has released the 12th Edition of the Code of Ethics for its members. The revised edition of the code has come into effect from 1st July 2021. Download links of the three volumes of the Code has been given in this news piece.

Posted in Professional Resource | 2499 Views

Norms fixed for implementation of Ease of Doing Business in the country

27 July 2021 at 06:30

Shri Pankaj Chaudhary stated that 20 states were allowed additional borrowing of Rs 39,521 crore during 2020-21 for implementation of EoDB reform and it is a continuous process and its outcome would be visible in due course.

Posted in Others | 1365 Views

Systemic measures by Government under Black Money Act detects undisclosed income of several crores

27 July 2021 at 06:29

In the recent years, the Government has taken a number of measures to bring back the black money stashed abroad 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015'.

Posted in Income Tax | 1791 Views

54,439 appreciation certificates given to taxpayers on eve of completion of 4 years of GST

26 July 2021 at 22:01

GoI has awarded Appreciation Certificates, on the eve of completion of 4 years of GST, to 54,439 taxpayers who have made substantial contribution in payment of GST and filed their returns in a timely manner.

Posted in GST | 2478 Views