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Number of High-Income Taxpayers in India Rises Fivefold in a Decade
25 October 2024 at 08:51The number of Indian taxpayers with taxable incomes exceeding ₹1 crore has surged more than fivefold, reaching nearly 2.3 lakh in the assessment year (AY) 2023-24, compared to just 44,078 in AY 2013-14, according to a report. This significant rise re
AMMK General Secretary Urges Central Government to Abolish 18% GST on Cable TV Services
25 October 2024 at 08:48AMMK General Secretary TTV Dhinakaran has called for the central government to eliminate the 18% GST on cable TV services, emphasizing the need for more affordable access to television.
GST Clarity for Film Industry: Producers Guild's Four-Year Efforts Yield Victory
24 October 2024 at 08:54In a landmark decision, the Ministry of Finance has issued a clarification regarding the Goods and Services Tax (GST) applicable to film distribution before October 2021, providing significant relief to the Indian film industry.
RBI updates the Alert List of unauthorised forex trading platforms
24 October 2024 at 08:54The Reserve Bank of India (RBI) has added the following entities/platforms/websites to the Alert List of unauthorised forex trading platforms.
Leather Company Worker in Ambur Receives Rs 2.3 Crore GST Notice in Fraud Case
24 October 2024 at 08:54In a shocking incident highlighting the misuse of personal data for tax fraud, Rani Babu, a 58-year-old housekeeper from Ambur, was stunned to receive a GST notice amounting to Rs 2.39 crore from the Commercial Taxes Department in Tiruchy.
GST Reduction to Make Insurance More Affordable, Says Finance Department Joint Secretary
24 October 2024 at 08:54The Department of Finance’s Joint Secretary has hinted at a potential reduction in Goods and Services Tax (GST) on life and health insurance premiums, making them more affordable for customers, as per a report.
ICAI Announces Extension of MEF 2024-25 upto 25th October 2024
23 October 2024 at 15:13Professional Development CommitteeThe Institute of Chartered Accountants of India23rd October 2024AnnouncementExtension of MEF 2024-25 upto 25th October 2024 The Institute is in receipt of representations from applicants who could not submit the MEF
Income Tax Department Releases Updated Common Offline Utility for Form 3CA-3CD and 3CB-3CD
23 October 2024 at 08:49The Income Tax Department has launched the latest version (1.3.3) of the common offline utility for Form 3CA-3CD and 3CB-3CD, essential for taxpayers required to submit audit reports under Section 44AB of the Income-tax Act, 1961.
Income Tax Department Releases Updated ITR-3 Utility Excel-Based Tool
23 October 2024 at 08:48The Income Tax Department has released an updated version (1.5) of the Excel-based utility for filing ITR-3, catering to individuals and Hindu Undivided Families (HUFs) with income from profits and gains of business or profession.
Surge in High-Income Taxpayers Reflects Growing Incomes and Compliance
23 October 2024 at 08:48The number of individuals reporting taxable income exceeding ₹1 crore has seen a dramatic rise, jumping from 44,078 in AY 2013-14 (FY 2012-13) to nearly 2.3 lakh in AY 2023-24 (FY 2022-23).
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