CAclubindia News

GSTN mandates businesses with over Rs. 100 crore turnover to upload e-invoice within 7 days

13 April 2023 at 08:32

Advisory on time limit for reporting invoices on IRP Portal

Posted in GST | 15984 Views

JSON Schema released for ITR 1 and ITR 4 for AY 2023-24 (FY 2022-23)

12 April 2023 at 08:32

The Income Tax Department has released JSON Schema ITR 1 and ITR 4 for AY 2023-24 (FY 2022-23)ITR 1: For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house pro

Posted in Income Tax | 14178 Views

IT dept conducts searches at cooperative banks in Karnataka over tax evasion

12 April 2023 at 08:29

Income Tax Department commenced a Search & Seizure operation in the case of some Cooperative Banks, in the State of Karnataka, on 31.03.2023.

Posted in Income Tax | 5241 Views

CBDT notifies 348 as Cost Inflation Index for FY 2023-24

11 April 2023 at 08:37

CBDT notified the Cost Inflation Index for FY 2023-24 as 348.

Posted in Income Tax | 19344 Views

RBI simplifies the application process for registration of Core Investment Companies

11 April 2023 at 08:33

The Reserve Bank has undertaken a comprehensive review of the system of processing of applications for registration as Core Investment Companies (CICs) to make the registration process smoother and hassle free.

Posted in Others | 4680 Views

Supreme Court: Erroneous order of AO causing prejudice to revenue is revisable by CIT

10 April 2023 at 10:08

The Supreme Court has held that the Commissioner of Income Tax can exercise revision powers under Section 263 of the Income Tax Act over the orders of the Assessing Officer which cause prejudice to the interest of the revenue.The Top Court set aside

Posted in Income Tax | 4227 Views

ICAI issued clarification on acceptance of certain assignments by concurrent auditor of bank branches

10 April 2023 at 08:39

The members have sought guidance from the Institute on the matter of acceptance of certain assignments by the Concurrent Auditor of Bank Branches.

Posted in Audit | 8499 Views

Income tax payments from senior citizens surpasses Rs. 1 lakh crore

10 April 2023 at 08:37

There has been a surprising surge in income tax payments from senior citizens during the past year, lifting the overall tax collections from the 60+ population by as much as 61.5% from pre-COVID levels to surpass ₹1 lakh crore.

Posted in Income Tax | 3672 Views

IT Department asks young man from Madhya Pradesh to pay tax of Rs 113 crore

08 April 2023 at 08:46

A man from MP's Bhind, who earns Rs 58,000 per month, has received yet another notice from the income-tax department demanding him to pay Rs.113 crore in taxes for alleged Rs.132 crore transactions in his account in 2011-12.

Posted in Income Tax | 9264 Views

GST official, two others held for extortion in Surat

08 April 2023 at 08:45

A superintendent with the Central Goods and Services Tax (GST) department and two others were arrested in Surat in Gujarat for allegedly extorting Rs 12 lakh from a shopkeeper, a police official said on Friday.

Posted in GST | 4632 Views