CAclubindia News

SEBI Bars Anil Ambani and 24 Entities from Securities Market for 5 Years over Fund Diversion Scandal

23 August 2024 at 14:18

In a landmark ruling, the SEBI has barred industrialist Anil Ambani and 24 other entities from participating in the securities market for five years.

Posted in Corporate Law | 3060 Views

FM Sitharaman Pushes for RRBs to Boost Credit Flow to MSMEs in Cluster Areas

23 August 2024 at 09:08

Union Finance Minister Smt. Nirmala Sitharaman chairs meeting to review performance of nine Regional Rural Banks (RRBs) of Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh and Rajasthan, in Udaipur, todaySmt. Sitharaman urges RRBs to generate aware

Posted in Corporate Law | 579 Views

FM Sitharaman: Increase in Tax Collections Reflect India's Growing Economic Formalization

23 August 2024 at 09:03

FM Nirmala Sitharaman, presided over the 165th anniversary of Income Tax Day, observed by the Central Board of Direct Taxes (CBDT) in New Delhi.

Posted in Income Tax | 528 Views

Income Tax Department directs officers to focus on top 5,000 cases

23 August 2024 at 09:02

In a significant move to bolster tax recovery and reduce litigation, the Income Tax Department has directed its officers to concentrate on the top 5,000 cases, which account for a staggering Rs 43 lakh crore in tax demand.

Posted in Income Tax | 3615 Views

Income Tax Department Processes Nearly 4 Crore ITRs in Just 15 Days

22 August 2024 at 15:02

In a remarkable feat of digitisation, the department has processed nearly 4 crore income tax returns (ITRs) for Assessment Year (AY) 2024-25 in just 15 days.

Posted in Income Tax | 1 comments | 2613 Views

CBDT Unveils Central Action Plan (CAP) for FY 2024-25 to Enhance Tax Compliance and Expand Tax Base

22 August 2024 at 15:01

The Central Action Plan (CAP) for 2024-25, meticulously designed by the Central Board of Direct Taxes (CBDT), sets the stage for a strategic and comprehensive approach to managing India's direct taxation landscape.

Posted in Income Tax | 3306 Views

CBDT Chairman Confirms Income Tax Act Review to Meet Six-Month Deadline

22 August 2024 at 15:00

CBDT Chairman, Ravi Agrawal, has confirmed that the ongoing review of the Income Tax Act of 1961 will be completed within the six-month timeframe announced by Union Finance Minister Nirmala Sitharaman.

Posted in Income Tax | 4578 Views

FM Sitharaman Calls for Fair, User-Friendly Tax Notices and Emphasizes Speedy Refunds and Capacity Building

22 August 2024 at 09:06

Smt. Sitharaman exhorted the Department to be fair and friendly and ensure that there is improved taxpayer experience. The tax notices should be temperate, simple and easy to understand for the taxpayer

Posted in Income Tax | 2148 Views

GST Intelligence Uncovers Rs 1.2 Trillion Tax Evasion Since 2020

22 August 2024 at 09:06

In a significant crackdown on tax evasion, the Directorate General of GST Intelligence (DGGI) has exposed fraudulent activities amounting to Rs 1.2 trillion via fake input tax credit (ITC) since 2020.

Posted in GST | 2628 Views

CBDT Targets IVF Clinics and Medical Colleges in Cash Transaction Crackdown

22 August 2024 at 09:06

The Central Board of Direct Taxes (CBDT) has unveiled a rigorous Central Action Plan (CAP) for the fiscal year 2024-25, targeting sectors notorious for high cash transactions that are frequently under-reported or unreported.

Posted in Income Tax | 1 comments | 2604 Views