CAclubindia News
RBI Warns Banks: Stop Freezing Accounts Over KYC Issues
22 November 2024 at 10:47Banks are freezing accounts for those receiving government funds i.e., Direct Benefit Transfer (DBT) funds such as subsidies, pensions, etc. due to lack of KYC...
Kerala GST Department Revises Adjudication Process for Show Cause Notices
22 November 2024 at 09:14The Kerala GST Department, through Circular No. 21/2024-Kerala SGST issued on November 18, 2024, has introduced a revised framework for adjudicating show cause notices (SCNs) under the Kerala SGST Act, 2017.
FM Nirmala Sitharaman Calls for Affordable Bank Interest Rates to Boost Investments
22 November 2024 at 09:12In a bid to address borrowing challenges and stimulate investment, Finance Minister Nirmala Sitharaman on Monday urged banks to make interest rates "far more affordable."
Income Tax Department Stresses TDS Adherence for Mizos Despite Tax Exemption
22 November 2024 at 09:12In a recent meeting held in Aizawl, the Income Tax Department reaffirmed that Mizos, as indigenous people residing in designated tribal areas, are exempt from income tax under Central Government laws.
State Govt to Announce GST Reimbursement Framework for Handloom Weavers
22 November 2024 at 09:08The Andhra Pradesh government will soon finalize guidelines for GST reimbursement to handloom weavers, announced Handloom and Textiles Minister S. Savitha during an assembly session on Tuesday.
74% of High-End Corporate Taxpayers Favor Real-Time Tax Reporting: Survey
21 November 2024 at 09:04A recent survey has revealed that 74% of India’s top corporate taxpayers are advocating for the Income Tax (I-T) department to enable near real-time reporting and compliance monitoring.
CBDT Grants Income Tax Exemptions to Legal and Aviation Bodies
21 November 2024 at 08:59The CBDT has issued two key notifications under Section 10(46) of the Income-tax Act, 1961, exempting specified income of entities in the legal and aviation sectors from taxation. Notification No. 119/2024
GSTAT to Be Operational by End of FY25: Revenue Secretary
21 November 2024 at 08:56Revenue Secretary Sanjay Malhotra announced on Monday that the GSTAT, established to resolve GST-related disputes, is in its final stages of operationalisation and is expected to commence functioning by the end of the current financial year.
CBDT Allows Condonation of Delay for Filing Forms 10-IC and 10-ID for AYs 2020-21 to 2022-23
20 November 2024 at 09:12In a significant relief to taxpayers, the CBDT has issued Circular No. 17/2024 dated Nov 17, 2024, permitting the condonation of delays in filing Form 10-IC and Form 10-ID for AYs 2020-21, 2021-22, and 2022-23.
CBDT Urges Taxpayers to Rectify Foreign Income Discrepancies Before 31st Dec 2024
20 November 2024 at 09:11Ravi Agarwal, Chairman of the Central Board of Direct Taxes (CBDT), has called on taxpayers with foreign income or assets to take advantage of the current window to amend discrepancies in their income tax returns.
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