CAclubindia News

ICAI releases Exposure Draft of Guidance Note on Transfer of Capital Reserve

22 March 2023 at 07:03

Certain Ind AS require capital reserve to be created toward unrealised profits arising from certain transactions or other events. However, currently, there is no specific guidance on their subsequent transfer to retained earnings or other free reserve.

Posted in Corporate Law | 5277 Views

GSTN issues advisory for taxpayers wishing to register as OPC in GST

21 March 2023 at 14:36

Advisory for the taxpayer wishing to register as "One Person Company" in GSTAs per provision of section 2(62) of The Companies Act, 2013 "One Person Company" is defined as a company which has only one person as member. Some issues

Posted in GST | 7821 Views

IT Department sends Rs 8 crore recovery notice to a labourer in Bulandshahr

21 March 2023 at 08:41

In a shocking incident, the Income Tax department sent a notice to a labour for recovery of Rs 8 crores. The person, who is a labour by profession, is a native of Bulandshahr in Uttar Pradesh.

Posted in Income Tax | 7929 Views

NPS records 5,67,116 beneficiaries above age of 60 years

21 March 2023 at 08:40

As informed by PFRDA, the number of beneficiaries above the age of 60 years, under the National Pension System (NPS) is 5,67,116.

Posted in Corporate Law | 3474 Views

GST officers unearthed fake invoicing racket involving tax evasion of Rs 17 crore

20 March 2023 at 08:40

GST officers in Delhi have unearthed a fake invoicing racket involving tax evasion of Rs 17 crore and arrested two persons, the Finance Ministry said on Saturday.

Posted in GST | 4020 Views

GST dept to scrutinise IT, MCA data to identify entities not paying taxes

20 March 2023 at 08:40

The GST department will soon begin analysing ITRs filed by businesses and professionals and also MCA filings to ascertain if the entities are adequately discharging their GST liability and widening the taxpayer base.

Posted in GST | 8541 Views

GST stalemate to continue for cryptocurrencies

18 March 2023 at 06:55

The proposed move to levy goods and services tax (GST) on cryptocurrencies is set to be delayed as consensus on the modalities has eluded officials from the centre and state governments.

Posted in GST | 3213 Views

CESTAT to commemorate 40 years of glorious and successful journey

18 March 2023 at 06:53

Customs, Excise and Service Tax Appellate Tribunal (CESTAT) to commemorate 40 years of glorious and successful journey

Posted in Service Tax | 3513 Views

ICAI join hands with CII as a Prime partner for B20

17 March 2023 at 13:56

Taking forward India's economic growth story, ICAI join hands with CII as a Prime partner for B20Key highlights The Institute of Chartered Accountants of India has become prime partner with CII for B20, furthering the ambition of India to become

Posted in Professional Resource | 5067 Views