CAclubindia News

Income Tax Department Withdraws Erroneous Notices for Correctly Filed ITRs

21 December 2024 at 07:07

In a recent announcement, the Income Tax Department has acknowledged and withdrawn defective return notices mistakenly issued to taxpayers who had accurately filed their Income Tax Returns (ITRs) for the Assessment Year 2024-25.

Posted in Income Tax | 4173 Views

CA Final Nov 2024 Results likely to be declared on 26th Dec

20 December 2024 at 20:20

The Institute of Chartered Accountants of India (ICAI) has announced that the results for the CA Final Examinations conducted in November 2024 are expected to be released on Thursday, 26th December 2024, late evening.

Posted in Students | 2445 Views

CBIC Uncovers Rs 26,543 Crore GST Evasion in Nationwide Drive Against Fake ITC

20 December 2024 at 09:07

In a sweeping crackdown on GST evasion, the Central Board of Indirect Taxes and Customs (CBIC) has unearthed fraud amounting to Rs 26,543 crore during its second nationwide operation against fake input tax credit (ITC).

Posted in GST | 2160 Views

Indian Gaming Industry Faces February 2025 Deadline for GST Tax Demands on Betting

20 December 2024 at 09:06

The Indian online gaming industry faces a pivotal moment as tax authorities prepare to finalize Goods and Services Tax (GST) demands by February 5, 2025, based on pending show-cause notices (SCNs).

Posted in GST | 1 comments | 765 Views

CBDT Exempts Credit Guarantee Fund Trust for Micro and Small Enterprises from TDS

20 December 2024 at 09:03

In a significant move to bolster micro and small enterprises (MSEs), the Central Board of Direct Taxes (CBDT) has issued Notification No. 128/2024, dated December 18, 2024.

Posted in Income Tax | 1575 Views

CAG Flags Revenue Loss of Rs 18,509.8 Crore Due to Tax Errors and Evasion

20 December 2024 at 09:02

The Comptroller and Auditor General (CAG) of India, in its latest report tabled in Parliament, highlighted widespread lapses in income tax assessments and GST compliance, causing a potential revenue loss of Rs 18,509.8 crore.

Posted in GST | 1971 Views

CBIC Chairman launches new initiatives to enhance taxpayer services

19 December 2024 at 09:00

CBIC Chairman Shri Sanjay Kumar Agarwal, in presence of Members of the Board, launches new initiatives to enhance taxpayer services

Posted in GST | 1125 Views

FM Nirmala Sitharaman Calls Q2 GDP Slowdown a "Temporary Blip"

19 December 2024 at 08:58

Finance Minister Nirmala Sitharaman addressed concerns in the Lok Sabha over the recent slowdown in India's GDP growth during the second quarter of FY 2025, assuring that the dip is a "temporary blip"

Posted in Others | 480 Views

55th GST Council Meeting: Possible GST Relief on Food Delivery Charges

19 December 2024 at 08:52

The 55th GST Council meeting, scheduled to take place on December 21 in Jaisalmer, Rajasthan, could bring significant relief to consumers ordering food via e-commerce platforms.

Posted in GST | 2016 Views