CAclubindia News

GST Portal Enables Taxpayers to File Rectification Applications for ITC Demand Orders u/s 73/74

08 January 2025 at 09:07

A functionality has now been made available on the Portal for taxpayers to file an application for rectification of such orders issued under section 73/74.

Posted in GST | 5814 Views

Mutual Fund Industry Seeks Restoration of Indexation Benefit for Debt Funds in Budget FY26

08 January 2025 at 09:00

The mutual fund (MF) industry is hopeful that the government may restore the indexation benefit for computing capital gains on the sale of debt-oriented funds. ..

Posted in Union Budget & Policy | 1380 Views

Trade Unions Demand Super-Rich Tax and Social Security Reforms in Pre-Budget Meeting

08 January 2025 at 09:00

In a pre-budget consultation with Union Finance Minister Nirmala Sitharaman on Monday, trade union leaders advocated for critical tax reforms and enhanced social security measures, particularly for informal sector workers.

Posted in Union Budget & Policy | 1653 Views

Insurance Industry Seeks Key Tax Reliefs and GST Reduction in Upcoming Budget

08 January 2025 at 09:00

The insurance industry has put forth significant demands ahead of the Union Budget, focusing on easing tax burdens and improving insurance accessibility for the public.

Posted in Union Budget & Policy | 702 Views

Income Tax Department Releases Updated Excel-Based Utility for ITR-2 and ITR-3

07 January 2025 at 09:09

The Income Tax Department has released the latest Excel-based Utility Version 1.8 for filing Income Tax Returns (ITR-2 and ITR-3), ensuring a smoother and more efficient e-filing process for taxpayers.

Posted in Income Tax | 2718 Views

Delhi Police Warns Personnel Against Filing Bogus Income Tax Returns

07 January 2025 at 09:03

The Delhi Police General Administration (GA) Department has issued a strict directive to its personnel, cautioning them against filing fraudulent income tax (IT) returns by claiming fake deductions.

Posted in Income Tax | 4047 Views

Ministry of Finance Designates Nodal Officer for IT Act and GST Compliance u/s 14A(3)

07 January 2025 at 09:00

In a significant development aimed at strengthening coordination between IT and GST frameworks, the Ministry of Finance has issued Notification S.O. 95(E), designating the Additional/Joint Director (Intelligence)

Posted in GST | 978 Views

Pre-Budget Consultation Meetings for the forthcoming Union Budget 2025-26 concludes

07 January 2025 at 08:50

The Pre-Budget consultations chaired by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman for the forthcoming Union Budget 2025-26 concluded in New Delhi.

Posted in Union Budget & Policy | 705 Views

Chartered Accountants to Report FCRA Breaches in NGO Audits: MHA Directive

07 January 2025 at 08:49

The Foreigner's Division of the MHA has introduced new regulations requiring Chartered Accountants (CAs) to include specific declarations regarding compliance with the Foreign Contribution (Regulation) Act, 2010 (FCRA) when filing audit returns for NGOs.

Posted in Audit | 3204 Views

ICAI Set to Finalize International Networking Guidelines for CA Firms by FY 2024-25

06 January 2025 at 08:54

The Institute of Chartered Accountants of India (ICAI) is gearing up to finalize its international networking guidelines for Indian chartered accountant (CA) firms by the end of this fiscal year.

Posted in Audit | 1 comments | 7665 Views