CAclubindia News

CBDT Grants Tax Exemption to Punjab Real Estate Regulatory Authority Under Section 10(46A)

14 February 2025 at 08:48

CBDT under the Ministry of Finance, has issued Notification No. 16/2025 on February 12, 2025, granting tax exemption to the Real Estate Regulatory Authority (RERA), Punjab under Section 10(46A) of the Income-tax Act, 1961.

Posted in Income Tax | 465 Views

Two GST Officials Suspended Over Rs 7 Lakh Extortion Allegations

14 February 2025 at 08:46

In a major crackdown on corruption within the Central Goods and Services Tax (GST) department, two officials have been suspended for allegedly extorting ₹7 lakh from traders in Chhattisgarh under the guise of GST irregularities.

Posted in GST | 861 Views

Kerala to Introduce Faceless Adjudication in SGST Department to Enhance Transparency

14 February 2025 at 08:43

Finance Minister K.N. Balagopal on Wednesday announced the implementation of 'faceless adjudication' in the taxpayer services and audit wings of the State Goods and Services Tax (SGST) department.

Posted in GST | 519 Views

Income Tax Bill 2025 Tabled in Parliament: Aims to Simplify IT Act, 1961

14 February 2025 at 08:32

Income-tax Bill, 2025, tabled in Parliament towards achieving comprehensive simplification of the Income-tax Act, 1961

Posted in Income Tax | 3003 Views

GST Rates Drop from 15.8% to 11.3% Since Implementation: FM Nirmala Sitharaman

13 February 2025 at 08:56

FM Nirmala Sitharaman informed the Rajya Sabha on Tuesday that the average indirect tax under the GST has significantly reduced since its rollout.

Posted in GST | 555 Views

GSTN Issues Advisory for GST Registration Process Under Rule 8 of CGST Rules, 2017

13 February 2025 at 08:47

The GST Network (GSTN) has introduced new measures for GST registration, reinforcing compliance with Rule 8 of the CGST Rules, 2017.

Posted in GST | 10563 Views

ITR Filings Surge to 83.9 Million in FY25, Up 4% from Last Year

13 February 2025 at 08:46

The total number of income tax returns (ITRs) filed in FY25 reached a record 83.9 million by December 31, 2024, marking a 4% increase from the previous year, according to government data.

Posted in Income Tax | 345 Views

MCA Extends Deadline for Mandatory Dematerialization of Private Companies Until 30th June 2025

13 February 2025 at 08:46

In a significant move, the Ministry of Corporate Affairs (MCA) has extended the deadline for mandatory dematerialization of securities for certain private companies until June 30, 2025.

Posted in Corporate Law | 4839 Views

CBIC Notifies Implementation Dates for Key GST Rule Amendments

13 February 2025 at 08:46

The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 09/2025 - Central Tax on February 11, 2025, announcing the enforcement dates for select amendments to the Central Goods and Services Tax (CGST) Rules, 2017.

Posted in GST | 2406 Views