CAclubindia News

MSSC scheme exempted from TDS on interest earnings

22 May 2023 at 08:29

TDS (tax deducted at source) will not apply to interest earned on Mahila Samman Savings Certificate (MSSC), but interest income will be added to total income for tax calculation.

Posted in Income Tax | 5061 Views

E-Invoices now mandatory for traders with turnover above Rs 5 crore

22 May 2023 at 08:29

Traders with an annual turnover above ₹5 crore must prepare e-invoices from August 1 this year for business-to-business transactions

Posted in GST | 1 comments | 8109 Views

CBDT's Proposed Alterations to Rule 11UA on Angel Tax and Excluded Entities

20 May 2023 at 07:07

CBDT proposes changes to Rule 11UA in respect of ANGEL TAX- Also proposes to notify Excluded Entities

Posted in Income Tax | 4629 Views

TCS Exempted for Small Debit and Credit Card Transactions Abroad up to Rs 7 Lakh

20 May 2023 at 07:04

Clarification regarding applicability of Tax Collection at Source to small Debit/Credit Transactions under LRS

Posted in Income Tax | 11223 Views

RBI | Rs 2000 Notes to be Withdrawn from Circulation but Remain Legal Tender

19 May 2023 at 19:43

Rs.2000 Denomination BanknotesWithdrawal from Circulation; Will continue as Legal Tender

Posted in Others | 6783 Views

FAQs w.r.t. TCS on foreign remittance through Liberalised Remittance Scheme

19 May 2023 at 08:40

The e-Gazette notification dated May 16, 2023 omits Rule 7 of the FEM(CAT) Rules, 2000. Here are the Frequently Asked Questions ("FAQs") w.r.t. Tax Collection at Source (TCS) on foreign remittance through the Liberalised Remittance Scheme.

Posted in Income Tax | 16512 Views

RBI includes International Credit Card usage in LRS, mandates 20% TCS w.e.f 1st July 2023

19 May 2023 at 08:38

Spending in foreign exchange through international credit cards will be covered under the RBI's LRS, under which a resident can remit money abroad up to a maximum of $2.50 lakh per annum without the authorisation of the Reserve Bank

Posted in Income Tax | 13014 Views

GSTN introduces convenient IRN retrieval via document numbers

19 May 2023 at 08:37

The Goods and Services Tax Network ("GSTN") has enabled the functionality to find the Invoice Reference Number ("IRN") through the Document Number

Posted in GST | 8592 Views

Legal Powerhouses from Gaming Industry Seek Prime Minister's Support

19 May 2023 at 08:36

Several top law firms representing the gaming industry, have written to the Prime Minister's Office (PMO) urging the GST Council to maintain the current taxation regime for the online gaming industry.

Posted in GST | 2781 Views

Special Drive Launched to Combat Tax Evasion through Fake GST Registrations

18 May 2023 at 08:37

With GST evasion crossing over Rs 1 lakh crore in 2022-23, Centre and state tax officers have initiated a two-month-long special drive to identify fake GST registration and nab offenders.

Posted in GST | 8259 Views