CAclubindia News

GSTN Issues Important Advisory on GSTR 2B and IMS

18 November 2024 at 05:13

It has been reported by few taxpayers that their GSTR-2B for October-2024 period has not been generated on 14th November, 2024.

Posted in GST | 2190 Views

Over 8 Crore ITRs Filed for AY 2024-25, 74% Opt for New Tax Regime

16 November 2024 at 07:00

In a significant milestone, more than 8 crore income tax returns (ITRs) have been filed for the assessment year (AY) 2024-25, reflecting a robust filing season.

Posted in Income Tax | 1908 Views

FM Nirmala Sitharaman Refutes Karnataka's Claims of Tax Devolution Bias

16 November 2024 at 07:00

Union Finance Minister Nirmala Sitharaman firmly rejected the Karnataka government’s allegations of "step-motherly treatment" in tax devolution, describing the claims as baseless and aimed at misleading voters.

Posted in Income Tax | 1419 Views

NFRA Chairperson Justifies Audit Standards Revision Amid ICAI Opposition

16 November 2024 at 07:00

National Financial Reporting Authority (NFRA) Chairperson Ajay Bhushan Pandey has dismissed concerns that revising audit standards for group company audits will lead to audit concentration among a few large firms.

Posted in Audit | 5070 Views

GSTN: Resolution Underway for Duplicate Invoices in GSTR-2B for September and October 2024

16 November 2024 at 07:00

The Goods and Services Tax Network (GSTN) has identified an issue where some taxpayers are seeing duplicate invoices in GSTR-2B for both September 2024 and October 2024.

Posted in GST | 6906 Views

GST Officials Uncover Rs 48 Crore Tax Evasion in Gujarat Copper Trading Case

16 November 2024 at 07:00

In a major crackdown on tax evasion, Gujarat's state GST department has unearthed tax fraud amounting to over Rs 48 crore during a search and seizure operation targeting 14 copper trading firms.

Posted in GST | 1152 Views

RBI releases 2024 list of Domestic Systemically Important Banks

16 November 2024 at 07:00

SBI, HDFC Bank and ICICI Bank continue to be identified as Domestic Systemically Important Banks (D-SIBs) under the same bucketing structure as in the 2023 list of D-SIBs.

Posted in Others | 951 Views

ICAI Urges MCA to Reconsider NFRA's Audit Standard Amendments

15 November 2024 at 14:23

The Institute of Chartered Accountants of India (ICAI) has urged the Ministry of Corporate Affairs (MCA) to reconsider recent amendments to auditing standards proposed by the National Financial Reporting Authority (NFRA).

Posted in Audit | 6738 Views

Higher PIT Collection Doesn't Mean Increased Tax Burden on Individuals, Say Sources

15 November 2024 at 09:20

The Central Board of Direct Taxes (CBDT) has clarified that recent data showing higher personal income tax (PIT) collection growth compared to corporate tax does not imply that individuals are taxed more heavily than corporates.

Posted in Income Tax | 1104 Views

Tax Evasion on the Rise as 23% of Transactions Are Tracked, Says Chief Commissioner of IT

15 November 2024 at 06:36

In a significant statement, Sanjay Rai, the Chief Commissioner of Income Tax, Madurai, revealed that the Income Tax Department currently captures only 23% of the total transactions occurring across the country.

Posted in Income Tax | 1983 Views