CAclubindia News

Lok Sabha Passes Banking Laws (Amendment) Bill 2024

04 December 2024 at 10:28

On December 3, 2024, the Lok Sabha passed the Banking Laws (Amendment) Bill, 2024, with a voice vote. The bill, introduced by Union Finance Minister Nirmala Sitharaman, aims to bring significant changes to improve governance in the banking sector

Posted in Audit | 4332 Views

IRS Officer Trainees Urged by President Murmu to Enhance Tax Administration

04 December 2024 at 09:08

Addressing the officers, the President said that the Indian Revenue Service (Customs and Indirect Taxes) connects our economy through a uniform tax system and shared administrative values.

Posted in Income Tax | 546 Views

CBIC Clarifies: Media Reports on GST Rate Changes Are Premature and Speculative

04 December 2024 at 09:03

GST Council has neither received nor deliberated on any recommendations from the GoM. Until the GoM submits its report, and the Council discusses and makes decisions, any reports regarding GST rate changes remain speculative and without an official basis.

Posted in GST | 2064 Views

PM Internship Scheme Pilot Offers 1.25 Lakh Internship Opportunities for FY 2024-25

04 December 2024 at 08:57

Pilot Project launched under PMIS to provide 1.25 lakh internship opportunities in the FY 2024-25.

Posted in Others | 378 Views

MCA Decriminalizes 63 Offences, Centralizes Strike-Off Process via C-PACE

04 December 2024 at 08:54

Decriminalization of 63 offences under the Companies and LLP Acts

Posted in Corporate Law | 669 Views

Union Budget 2025: Key Reforms Expected for Direct Tax Code Implementation

04 December 2024 at 08:50

The Union Budget 2025 is expected to bring significant changes to India's income tax framework, with the long-awaited implementation of the Direct Tax Code (DTC) marking a major step toward overhauling the country's direct tax system.

Posted in Union Budget | 5112 Views

FM Sitharaman Signals Possible GST Reduction on Life and Health Insurance Premiums

04 December 2024 at 08:49

Finance Minister Nirmala Sitharaman has suggested that a reduction in the GST on life and health insurance premiums could lead to lower costs for policyholders.

Posted in GST | 2190 Views

75% of GST Revenue Comes from 18% Slab, Reveals MoS Finance

04 December 2024 at 08:46

In the fiscal year 2023-24, approximately 70-75% of GST revenues were generated from the 18% tax slab, while the 12% slab contributed just 5-6% of the total collection.

Posted in GST | 1323 Views

Central Tax Officials Uncover Rs 824 Crore GST Evasion by Cryptocurrency Exchanges

04 December 2024 at 08:45

Central tax officials have uncovered goods and services tax (GST) evasion amounting to ₹824.14 crore across 17 cryptocurrency exchanges, Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha on December 2.

Posted in GST | 447 Views

Income Tax Practitioners Sentenced to 3 Years in Jail for TDS Refund Fraud

03 December 2024 at 09:04

A special Central Bureau of Investigation (CBI) court in Ahmedabad on Friday convicted two income tax practitioners, Suresh Prajapati and Shobhna Prajapati, for fraudulently obtaining TDS refunds using false or forged certificates.

Posted in Income Tax | 73542 Views