CAclubindia News

GST Authorities Tighten Grip on Merchants Evading Taxes via Digital Payment Channels

22 August 2024 at 09:01

The rapid expansion of digital payments in India has brought a surge in tax evasion cases, particularly among small online merchants.

Posted in GST | 1050 Views

CBDT issues clarification in respect of Income-tax clearance certificate (ITCC)

21 August 2024 at 07:12

It is being erroneously reported that all Indian citizens must obtain income-tax clearance certificate (ITCC) before leaving the country - a position that is factually incorrect

Posted in Income Tax | 4638 Views

Ministry of Education Intervenes after Rs 120 Crore GST Notice Issued to IIT-Delhi

21 August 2024 at 07:11

The Ministry of Education has stepped in to address a substantial GST notice issued to the Indian Institute of Technology (IIT) Delhi.

Posted in GST | 2514 Views

Kerala Finance Department Reveals Tax Default by Over 600 Bar Hotels

21 August 2024 at 07:11

The Kerala Finance Department said over 600 bar hotels are among the establishments in its list that defaulted on payment of taxes.

Posted in Income Tax | 324 Views

NFRA Imposes Rs 10 Crore Penalty on BSR & Associates, Debars Two Auditors in CCD Case

20 August 2024 at 17:34

The National Financial Reporting Authority (NFRA) has barred Aravind Maiya, former partner at BSR & Co and current CEO of Embassy REIT, from practicing as an auditor for 10 years.

Posted in Audit | 7758 Views

Gurgaon Student in Australia Discovers Rs 133.8 Crore in Fraudulent Transactions Linked to PAN Card

20 August 2024 at 16:37

The father of a youngster filed a police complaint on Sunday, alleging that conmen had used his son's PAN card to carry out transactions amounting to crores

Posted in Income Tax | 7452 Views

CAG Urges Finance Ministry to Target High-Risk GST Composition Taxpayers

20 August 2024 at 08:57

In a significant move to curb potential tax evasion, CAG has recommended that the Finance Ministry implement stricter monitoring measures for high-risk taxpayers under the GST Composition Scheme.

Posted in GST | 5463 Views

Income Tax Department Warns Taxpayers Against Fraudulent Refund Claims

20 August 2024 at 08:56

The Income Tax Department has issued an urgent advisory, cautioning taxpayers to be vigilant against fraudulent schemes involving fake income tax refund claims.

Posted in Income Tax | 8751 Views

ITAT Mumbai Confirms Tax Exemption on Gifts Received from Non-Resident Brother in India

20 August 2024 at 08:56

In a landmark ruling, the Income-Tax Appellate Tribunal (ITAT) Mumbai bench has determined that a Rs 20 lakh gift received by a taxpayer from his non-resident brother, who resides in the UAE, is not subject to taxation.

Posted in Income Tax | 4359 Views

IIT-Delhi Faces Rs 120 Crore GST Demand on Research Funding

19 August 2024 at 08:59

The Directorate General of Goods and Services Tax (GST) Intelligence has issued a show-cause notice to the Indian Institute of Technology-Delhi (IIT-D), demanding ₹120 crore in GST on research funding received between 2017 and 2022.

Posted in GST | 3768 Views