CAclubindia News

Income Tax Department Launches State-Wide Searches on Builder Group for Suspected Tax Evasion

03 December 2024 at 09:00

In a coordinated operation, multiple teams comprising around 170 Income Tax (I-T) officials launched extensive searches on three interconnected real estate firms on Friday morning.

Posted in Income Tax | 1605 Views

NFRA Chief Highlights Significant Improvements in Company Auditing Over Last 3-4 Years

03 December 2024 at 08:59

The auditing landscape in India has seen significant improvement over the past three to four years, according to Ajay Bhushan Prasad Pandey, Chairperson of the National Financial Reporting Authority (NFRA).

Posted in Audit | 1869 Views

RBI Reports 98% Return of Rs 2000 Banknotes Post Withdrawal Announcement

03 December 2024 at 08:55

98.08% of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned

Posted in Others | 150 Views

CBDT Exempts Diplomatic Missions and UN Agencies from Section 194N Provisions

02 December 2024 at 09:11

In a significant development, the CBDT has issued Notification No. 123/2024, dated Nov 28, 2024, exempting specific foreign representations and international organizations from the provisions of Section 194N of the IT Act, 1961.

Posted in Income Tax | 1584 Views

UPI Processes 16 Billion Transactions Worth Rs 23.49 Lakh Crores in October 2024

02 December 2024 at 09:10

IntroductionIn October 2024, Unified Payments Interface (UPI) achieved a historic milestone by processing 16.58 billion financial transactions in a single month, underscoring its pivotal role in India's digital transformation.

Posted in Others | 1104 Views

Record Rs 1.82 Lakh Crore GST Collection in November Marks 8.5% Growth

02 December 2024 at 09:07

India's GST revenue for November 2024 recorded a significant growth of 8.5% compared to November 2023, reaching a total of ₹1,82,269 crore.

Posted in GST | 1299 Views

ICAI's Role in Strengthening Capital Markets: A Pathway to Economic Growth and Investor Protection

02 December 2024 at 09:06

In the dynamic landscape of global finance, Capital markets play an indispensable role in the economic development and progress of a nation, serving as the lifeblood of a nation's financial system.

Posted in Professional Resource | 1269 Views

CBDT Pushes for Swift Review of Income-Tax Act: Officers to Station in Delhi

02 December 2024 at 09:02

In a significant step towards the modernization of India's direct tax laws, the CBDT has instructed 28 officers involved in the comprehensive review of the six-decade-old Income-tax Act to work from Delhi between December 2 and December 27.

Posted in Income Tax | 4026 Views

CBDT Extends ITR Filing Deadline for Taxpayers u/s 92E to 15th December 2024

30 November 2024 at 15:43

In a major relief to taxpayers, the Central Board of Direct Taxes (CBDT) has announced an extension of the due date for filing Income Tax Returns (ITRs) for Assessment Year (AY) 2024-25.

Posted in Income Tax | 3690 Views

Women Tax Filers Surge by 25.3% In Four Years

30 November 2024 at 09:16

The number of women filing income-tax returns (ITRs) in India has seen a significant rise over the last five years, signaling increased economic empowerment.

Posted in Income Tax | 1170 Views