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Vedanta Faces Rs 1.86 Crore GST Demand Notices Over Ineligible ITC

   04 April 2024 at 09:00

Mining giant Vedanta Ltd finds itself entangled in a GST dispute, with the tax authority demanding Rs 1.86 crore over 'ineligible' input tax credit. The company intends to challenge the orders, expressing optimism for a favorable resolution.

Posted in GST |   2364 Views

New e-Invoicing Mandate for Turnover Exceeding INR 5 Crores w.e.f 1st April 2024

   04 April 2024 at 08:58

If your turnover exceeds INR 5 crores in the financial year 2023-2024, you will be required to start e-Invoicing from the next financial year, i.e., from 1st April 2024 onwards

Posted in GST |   7947 Views

Infosys Faces Rs 341 Crore Tax Demand for AY 2020-21

   03 April 2024 at 09:03

Infosys, the renowned IT services company, disclosed receiving a substantial tax demand from the Income Tax Department, amounting to Rs 341 crore for the assessment year 2020-21.

Posted in Income Tax |   3117 Views

CBDT Sets 30-Day Verification Deadline for Income Tax Returns from 1st April 2024

   03 April 2024 at 09:02

CBDT has issued a significant notification, No. 2 of 2024, dated March 31, 2024, pertaining to the time limit for verifying income tax returns after uploading. ..

Posted in Income Tax |   6468 Views

Income Tax Department Unearths Massive PAN Misuse in Fake HRA Claims

   02 April 2024 at 09:13

The Income tax department has uncovered a sophisticated scam involving the fraudulent exploitation of PAN to claim HRA without actual tenancy.

Posted in Income Tax |   10905 Views

Zomato Faces Rs 23.26 Crore GST Demand for FY 2018-19

   02 April 2024 at 09:12

Zomato disclosed on Sunday that it has received an order for the fiscal year 2018-19 following an audit of GST returns and accounts conducted by the Assistant Commissioner of Commercial Taxes (Audit) in Karnataka.

Posted in GST |   2328 Views

GST Revenue in March 2024 Surge 11.5% YoY, Hits Rs 1.78 Lakh Crore Mark, Second-Highest Ever

   01 April 2024 at 17:25

Second highest monthly Gross GST Revenue collection in March at Rs 1.78 lakh crore; Records 11.5% y-o-y growth (18.4% on net basis)

Posted in GST |   405 Views

ITR-1, ITR-2 and ITR-4 Now Offer Online Filing with Prefilled Data on Income Tax Portal

   01 April 2024 at 09:19

The Income Tax Department has introduced a significant enhancement to the online filing process for Income Tax Returns (ITRs) by enabling ITR-1, ITR-2, and ITR-4 with prefilled data on the income tax portal.

Posted in Income Tax |   708 Views

Offline Utilities for AY 2024-25 Now Accessible for ITR-1, ITR-2, ITR-4 and ITR-6

   01 April 2024 at 09:19

Offline Utilities for ITR-1, ITR-2, ITR-4 and ITR 6 for AY 2024-25 are available for filing

Posted in Income Tax |   300 Views

ITR-1, ITR-2 and ITR-4 Excel Utilities for AY 2024-25 Released

   01 April 2024 at 09:17

Excel Utilities of ITR-1, ITR-2 and ITR-4 for AY 2024-25 are available for filing

Posted in Income Tax |   552 Views