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45-Day Payment Policy for MSMEs Receives Endorsement from Industry Associations, FinMin Reveals

   28 November 2024 at 09:10

The revised Section 43B of the Income-tax Act, 1961, introduced in the Union Budget last year, has been widely endorsed by MSME associations across India, said Pankaj Chaudhary, Minister of State for Finance, in the Lok Sabha on Monday.

Posted in Income Tax |   807 Views


Finance Ministry's October Review Highlights 'Cautiously Optimistic' Economic Outlook for Coming Months

   28 November 2024 at 09:10

The Indian Finance Ministry, in its monthly economic review for October, has expressed a "cautiously optimistic" outlook for the country's economy in the coming months.

Posted in Corporate Law |   414 Views


PAN 2.0 and TAN Services: A Unified Portal for Seamless Financial Integration

   28 November 2024 at 09:10

The Permanent Account Number (PAN) has long been a cornerstone of India's financial and administrative systems, connecting individuals and businesses to vital economic activities while promoting financial transparency and compliance.

Posted in Income Tax |   1776 Views


ICAI Proposes Mandatory Qualifications for Forensic Audit Professionals

   27 November 2024 at 09:14

The Institute of Chartered Accountants of India (ICAI) is taking a significant step toward strengthening forensic auditing practices by drafting guidelines to introduce mandatory qualifications for forensic auditors.

Posted in Audit |   14526 Views


GST Collections from Healthcare and Life Insurance Raised Over Rs 16000 Crore in FY24

   27 November 2024 at 09:10

The Goods and Services Tax (GST) revenue from healthcare and life insurance services surged to ₹16,398 crore in FY24, according to Minister of State for Finance, Pankaj Chaudhary, in a statement to the Lok Sabha.

Posted in GST |   1488 Views


Ministry of Finance Notifies Amendments to GST Appellate Tribunal Jurisdiction

   27 November 2024 at 09:09

The Ministry of Finance, through Notification No. 5063(E), has introduced significant amendments to the jurisdiction of State Benches of the Goods and Services Tax Appellate Tribunal (GSTAT) under Section 109 of the CGST Act, 2017.

Posted in GST |   1149 Views


CBDT Releases FAQs On PAN 2.0 Project

   27 November 2024 at 09:09

FAQs On PAN 2.0 Project Released by CBDT

Posted in Income Tax |   4371 Views


GSTN Issues Advisory for Reporting TDS Deducted by Scrap Dealers in October 2024

   27 November 2024 at 09:08

As per Notification No. 25/2024-Central Tax, effective from 10.10.2024, any registered person receiving supplies of metal scrap classified under Chapters 72 to 81 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975)

Posted in GST |   6351 Views


CBDT Recognizes SKAN Research Trust as Research Association for Tax Deductions

   27 November 2024 at 09:05

CBDT, through Notification No. 121/2024 dated November 25, 2024, has officially designated the SKAN Research Trust as a 'Research Association' for the purpose of conducting scientific research u/s 35(1)(ii) of the IT Act, 1961

Posted in Income Tax |   225 Views


NFRA Approves 40 Auditing Standards and Quality Management Rules for LLPs

   27 November 2024 at 09:05

NFRA Approves Auditing and Quality Management Standards for LLPs, Effective from 2026

Posted in Corporate Law |   1659 Views



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