CAclubindia News
CBIC Seeks Proposals for Reorganising CGST Commissionerates: Deadline 31st March 2025
13 March 2025 at 08:49The Central Board of Indirect Taxes and Customs (CBIC) has initiated a comprehensive assessment of the territorial jurisdiction of Central Tax Commissionerates across all Central Tax Zones.
Top 5 Industrial States Contribute 72% of Direct Taxes
13 March 2025 at 08:48The top five industrial states of India - Maharashtra, Karnataka, Delhi, Tamil Nadu and Gujarat collectively contributed more than 72% of the direct taxes and 53% of Central GST in FY 2023-24, according to data tabled in Parliament on Monday.
Personal Income Tax Collections Rise to 3.5% of GDP in FY24
13 March 2025 at 08:47The Finance Ministry informed the Lok Sabha on Monday that personal income tax (PIT) collection as a percentage of GDP surged by 140 basis points in the last decade, reaching 3.5% in FY 2023-24, up from 2.1% in FY 2014-15.
RBI and NCFE Launched Nationwide Campaigns to Boost Financial Literacy
12 March 2025 at 08:58NCFE Conducts 54 Financial Education Programs in North East under National Strategy for Financial Education (NSFE), empowers diverse segments
Digital Payment Transactions Surge With Over 18,000 Crore Transactions in 2024-25
12 March 2025 at 08:57RBI, NPCI Launch Awareness Campaigns and AI-Based Solutions to Prevent Financial Cybercrimes
Govt Boosts MSME Credit Access: Loans Up to Rs 25 Lakh Approved in 14 Days
12 March 2025 at 08:56Government has taken several measures to increase credit access and finance for MSMEsFor loans up to ₹25 lakh for Micro and Small Enterprises (MSE) borrowers, credit decisions within 14 working days by the banks
Bombay High Court Directs RBI to Accept Rs 20 Lakh in Old Demonetised Notes Seized During IT Raid
12 March 2025 at 08:54The Bombay High Court has directed the RBI to accept Rs 20 lakh in old demonetised Rs 500 and Rs 1000 currency notes that were confiscated from a group of Kolhapur residents during an Income Tax raid on December 26, 2016
RBI to Issue New Rs 100 and Rs 200 Banknotes Bearing Governor Sanjay Malhotra's Signature
12 March 2025 at 08:54The Reserve Bank of India will shortly issue ₹100 and ₹200 denomination Banknotes in Mahatma Gandhi (New) Series bearing the signature of Shri Sanjay Malhotra, Governor.
Shah Rukh Khan Wins Tax Case: ITAT Rules in Favor of Foreign Tax Credit Claim
11 March 2025 at 09:05Bollywood superstar Shah Rukh Khan has secured a significant legal victory in a long-standing income tax dispute. The Income Tax Appellate Tribunal (ITAT) ruled in his favor, dismissing reassessment proceedings related to his 2011-12 income, specific
Income Tax Department Invites Suggestions for Simplification of Tax Rules and Forms
11 March 2025 at 09:00In a move to enhance efficiency and ease of compliance, the Income Tax Department has launched a dedicated initiative to simplify income tax rules and forms.
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