CAclubindia News

New Tax Regime Default for AY 2024-25: How to Opt for Old Regime

22 June 2024 at 08:52

For AY 2024-25, NEW TAX REGIME is the default regime for Individual, HUF, AOP (other than co-operative society), BOI and Artificial Juridical Person.

Posted in Income Tax | 4491 Views

Offline and Online Utility of ITR-7 for AY 2024-25 Now Available for Filing

22 June 2024 at 08:49

The Income Tax Department has released the offline and online utilities for filing Income Tax Return (ITR) Form 7 for the Assessment Year (AY) 2024-25.

Posted in Income Tax | 660 Views

ICAI Invites Public Comments on IPAE's Proposed Revisions to Sustainability Standards in IES 2, 3, and 4

22 June 2024 at 08:48

Exposure Draft on Proposed Revisions to 'IES 2, 3, and 4 – Sustainability' - For Public Comments

Posted in Accounts | 426 Views

E-Way Bill Generation Reaches Second All-Time High in May with 10.32 Crore

21 June 2024 at 08:58

In an unexpected surge, e-way bill generation in India reached 10.32 crore in May, marking the second-highest level since the system's inception.

Posted in GST | 756 Views

GST Authorities Withdraw Rs 202.83 Crore GST Demand Against Jagran Prakashan

21 June 2024 at 08:53

In a significant relief to Jagran Prakashan, the publisher of the widely-read Hindi daily Dainik Jagran, the government has rescinded a substantial goods and services tax (GST) demand totaling Rs 202.83 crore.

Posted in GST | 5166 Views

FM Nirmala Sitharaman Chairs First Pre-Budget Consultation with Leading Economists

21 June 2024 at 08:45

On Wednesday, Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, chaired the first pre-budget consultation in preparation for the General Budget 2024-25.

Posted in Union Budget | 2487 Views

Govt May Raise Tax Exemption Limit To Rs 5 Lakh Under New Tax Regime

20 June 2024 at 09:03

Multiple officials have indicated that the Centre may raise the income threshold for tax exemption in the upcoming budget, expected to be presented in mid-July...

Posted in Income Tax | 1 comments | 3729 Views

Businessman Denied Pre-Arrest Bail in Rs 13 Crore GST Fraud Case

20 June 2024 at 09:02

In a significant development in the ongoing GST fraud investigation, a local court has denied pre-arrest bail to businessman Ritesh Garg.

Posted in GST | 912 Views

Budget 2024: Govt Poised to Slash Personal Income Tax Rates

19 June 2024 at 08:49

The government is reportedly considering significant reforms to the current income tax structure, specifically targeting lower income levels, to enhance consumption and stimulate economic activity.

Posted in Union Budget | 3753 Views

Gross Direct Tax collections for FY 2024-25 register a growth of 22.19%

19 June 2024 at 08:47

The provisional figures of Direct Tax collections for the Financial Year 2024-25 (as on 17.06.2024) show that Net collections are at Rs. 4,62,664 crore, compared to Rs. 3,82,414 crore

Posted in Income Tax | 483 Views