CAclubindia News

CBDT Allows Condonation of Delay for Filing Forms 9A, 10, 10B and 10BB for AY 2018-19 Onwards

19 November 2024 at 08:54

CBDT has issued Circular No. 16/2024 dated November 18, 2024, addressing the condonation of delay in filing critical income tax forms Form No. 9A, 10, 10B, and 10BB for the Assessment Year (AY) 2018-19 and subsequent assessment years.

Posted in Income Tax | 4143 Views

CBIC Extends GSTR-3B Filing Deadline for Oct 2024 to Nov 21 for Maharashtra and Jharkhand

19 November 2024 at 08:52

In a move aimed at providing relief to taxpayers, the CBIC has issued Notification No. 26/2024 – Central Tax dated November 18, 2024, extending the due date for filing GSTR-3B returns for the month of October 2024.

Posted in GST | 9675 Views

CBI Arrests Two CBDT Officers in Panaji for Alleged Bribe in Pending Contractor Bills Case

18 November 2024 at 05:13

The Central Bureau of Investigation (CBI) arrested two assistant accounts officers of the CBDT, Pankaj Kumar and Aul Wani, in Panaji on Friday for allegedly demanding and accepting a bribe to clear pending bills of a contractor.

Posted in Income Tax | 4869 Views

Govt Highlights Shift in Tax Burden and Rising Taxpayer Base Over the Last Decade

18 November 2024 at 05:13

The government has claimed a significant reduction in the tax burden on middle-class individuals earning less than ₹20 lakh annually over the past decade, while the tax contributions from high-income earners (above ₹50 lakh) have surged.

Posted in Income Tax | 768 Views

CBDT Launches Campaign to Help Taxpayers Report Foreign Assets and Income in AY 2024-25

18 November 2024 at 05:13

CBDT launches Compliance-Cum-Awareness Campaign for AY 2024-25 to assist taxpayers in accurately completing Schedule Foreign Assets and reporting income from foreign sources in ITR

Posted in Income Tax | 1938 Views

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 | 2253 Views

High Court Restrains ICTPI from Offering Taxation Courses Following ICAI Petition

18 November 2024 at 05:13

In a significant development, the High Court of Karnataka has issued an interim order restraining the Bengaluru-based Institute of Chartered Tax Practitioners India (ICTPI) from enrolling candidates into various courses

Posted in Students | 2781 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 | 2106 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 | 1476 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 | 5250 Views