CAclubindia News

GST Evasion: 10 Fictitious Firms Detected, 1 arrested in Gujarat

05 June 2023 at 08:45

A businessman has been arrested from Ahmedabad for allegedly availing fake input tax credit (ITC) to the tune of Rs 7.22 crore after the Central Goods and Services Tax commissionerate

Posted in GST | 3228 Views

IT Department initiates FIRs against 404 individuals and CA in bogus refund cases

05 June 2023 at 08:45

The Income Tax Department Srinagar has taken a serious view of the bogus refunds claimed by various persons in the past few years.

Posted in Income Tax | 42372 Views

Noida police busts multi-crore racket exploiting PAN card data of over 635,000 individuals

03 June 2023 at 13:26

In a breakthrough, the Noida police have successfully busted a sophisticated multicrore racket operated by a gang that used the Pan card data of approximately 635,000 individuals.

Posted in Income Tax | 9891 Views

Delayed Refund and Loss Carry Forward Claims Granted under IT Act 1961

03 June 2023 at 09:01

The Central Board of Direct Taxes (CBDT) has issued Circular No. 07/2023 dated May 31, 2023, regarding the condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the Income-tax Act, 1961 ("the IT Act").

Posted in Income Tax | 6126 Views

CBDT amends IT rules to provide tax exemption on movable property value

03 June 2023 at 08:55

The Income-tax (Eighth Amendment) Rules, 2023 were notified by the Central Board of Direct Taxes (CBDT) on May 31, 2023.

Posted in Income Tax | 5325 Views

ICAI | Exposure Drafts of Guidance Notes on FAIS

03 June 2023 at 08:54

Exposure Drafts of Guidance Notes on Forensic Accounting and Investigation Standards (FAIS)

Posted in Professional Resource | 5097 Views

GST Revenue Hits Record Rs 1,57,090 Crore in May 2023, achieving 12% YoY Growth

03 June 2023 at 08:54

₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth

Posted in GST | 4338 Views

ICAI President emphasizes embracing technology for competitive edge

01 June 2023 at 11:50

Let the current challenging conditions serve as a catalyst for our profession's growth, rather than a deterrent. It is imperative for both the Institute and its members to adapt and innovate in order to navigate the emerging realities successfully.

Posted in Professional Resource | 6747 Views

CBDT amends IT rules for Section 80G Provisional Approval

01 June 2023 at 08:56

The Income-tax (7th Amendment) Rules, 2023 were notified by the Central Board of Direct Taxes (CBDT) on May 30, 2023. The rules make amendments to the Income-tax Rules, 1962.

Posted in Income Tax | 15624 Views