CAclubindia News

CBDT Clarifies Non-Applicability of Higher TDS/TCS Rates in Case of Deceased Deductees or Collectees Pre-Aadhaar-PAN Linkage

06 August 2024 at 15:58

CBDT has issued a crucial circular (No. 08/2024 dated August 05, 2024) providing clarity on the non-applicability of higher rates of TDS and TCS under sections 206AA and 206CC of the Income-tax Act, 1961

Posted in Income Tax | 3060 Views

Self-Invoicing Sparks GST Compliance Challenges for Indian Corporates

06 August 2024 at 08:52

Indian corporates are currently navigating a complex landscape of GST compliance, particularly concerning self-invoicing and the reverse charge mechanism (RCM) for services received from foreign entities.

Posted in GST | 5361 Views

MCA to Strike Off 400 Chinese Companies Over Fraud Concerns

06 August 2024 at 08:49

The Ministry of Corporate Affairs (MCA) is set to strike off up to 400 Chinese companies across 17 states in the next three months due to incorporation and financial frauds, according to a government official.

Posted in Corporate Law | 2190 Views

Central Government Alerts Taxpayers of Phishing Scams Offering Fake Income Tax Refunds

05 August 2024 at 14:26

The Central Government has issued a critical advisory to taxpayers regarding a new wave of phishing scams involving fraudulent income tax refund messages.

Posted in Income Tax | 2742 Views

Centre Poised to Accept Infosys' Plea on GST Notice

05 August 2024 at 09:03

In a significant move that could avert a potentially damaging tax litigation, the central government is likely to accept Infosys Ltd.’s plea that GST does not apply to the services the company avails from its offshore branch offices.

Posted in GST | 2151 Views

72% of Taxpayers Opt for New Regime in AY 2024-25

05 August 2024 at 09:02

According to CBDT, 72% of those who filed their returns by the July 31 deadline opted for the new tax regime, contributing to a record high of almost 7.29 crore Income Tax return filings.

Posted in Income Tax | 2766 Views

CBIC Implements June Circular to Clarify GST Issues on Related Party Service Imports

05 August 2024 at 09:01

IntroductionThe Central Board of Indirect Taxation and Customs (CBIC) has directed field authorities to adhere to its June 26 circular when evaluating issues concerning the related party import of services by local firms.

Posted in GST | 3672 Views

ICAI Releases Online Exam Forms & Correction Window for CA Final Nov 2024 Exams

03 August 2024 at 17:21

Online Exam Forms & Correction Window for CA Final Nov 2024 Exams

Posted in Students | 3669 Views

Govt Considers Decriminalising Delayed TCS Filing in Finance Bill: CBDT Chairman

03 August 2024 at 09:10

The Union Budget has introduced a series of tax simplification measures, with significant implications for TCS compliance. Ravi Agarwal, Chairman of the CBDT, has hinted at the potential decriminalisation of delays in TCS filings

Posted in Union Budget | 1 comments | 2220 Views

RBI Proposes New Authentication Measures to Enhance Digital Transaction Security

03 August 2024 at 09:09

In a move to bolster the security of digital transactions, the Reserve Bank of India (RBI) has proposed new guidelines aimed at introducing additional layers of authentication.

Posted in Others | 378 Views