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GSTN Issues Letter on CBIC Migration to GSTN Back Office

   24 May 2024 at 08:59

The Goods and Services Tax Network (GSTN) has issued a significant letter (F. No. GSTN/PMO/CBIC/2023 dated May 22, 2024) to the Chief Commissioner/Commissioner of State Taxes.

Posted in GST |   678 Views

Tea-Seller Faces Rs 49 Crore IT Penalty Due to Fraudulent Transactions by Longtime Customers

   23 May 2024 at 08:48

In a shocking turn of events, Khemraj Dave, a humble tea-seller from Patan, has found himself entangled in a massive financial fraud, leading to an astonishing penalty notice from the Income Tax (IT) department.

Posted in Income Tax |   12330 Views

FM Nirmala Sitharaman urges ICAI to set up 'Big 4'- like Indian Firm

   23 May 2024 at 08:47

In a dynamic call to action, Finance Minister Nirmala Sitharaman on Tuesday urged the Bihar chapter of the Institute of Chartered Accountants of India (ICAI) to spearhead the creation of a formidable Indian auditing firm.

Posted in Professional Resource  2 comments |   8919 Views

RBI Announces Record Dividend of Rs 2.11 Lakh Crore To Government

   23 May 2024 at 08:46

RBI approved the transfer of Rs 2,10,874 crore as surplus to the Central Government for the accounting year 2023-24.

Posted in Others  1 comments |   204 Views

Businessman arrested in Rs 263 Crore Income Tax Refund Fraud

   22 May 2024 at 09:01

Directorate of Enforcement (ED), Mumbai Zonal Office has arrested one Rajesh Brijlal Batreja on 16.05.2024 under the provisions of Prevention of Money Laundering Act (PMLA), 2002 in case of Income Tax Refund fraud of Rs. 263 Crore.

Posted in Income Tax |   1140 Views

Income Tax Raid in Agra Uncovers Nearly Rs 60 Crore Cash from Shoe Trader's Residence

   22 May 2024 at 09:00

In a significant crackdown on tax evasion, the Income Tax Department conducted a series of raids in Agra on Saturday, May 18. Nearly ₹60 crore in cash was recovered from premises linked to a prominent shoe trader,

Posted in Income Tax  1 comments |   3729 Views

GST Council Unlikely to Revoke 28% Tax on Online Gaming Industry

   21 May 2024 at 08:59

As the online gaming industry eagerly awaits a review of the 28% Goods and Services Tax (GST) imposed on the sector, the GST Council appears unlikely to roll back the levy.

Posted in GST |   1872 Views

ICAI Hosts Academia Meet to Accelerate Discovery through Collaborative Research Initiatives

   21 May 2024 at 08:58

ICAI through its Research Committee has organised the Academia Meet on 17th May 2024 with Universities / Institutions to facilitate a platform for interaction and knowledge exchange between esteemed academicians to foster research advancements.

Posted in Students |   162 Views

Income Tax Officer Loses Rs 48,902 in Online Reward Points Fraud

   20 May 2024 at 09:04

A 48-year-old IRS officer with the Income Tax Department fell victim to an online reward points fraud, losing Rs 48,902.

Posted in Income Tax |   2322 Views

SEBI Eases KYC Formalities for Mutual Funds: PAN-Aadhaar Link Rule Withdrawn

   20 May 2024 at 09:02

Mutual fund investors can breathe easy for now. The capital market regulator, SEBI, has withdrawn the requirement to link PAN with Aadhaar for obtaining 'KYC registered' status for mutual fund transactions.

Posted in Income Tax |   12132 Views