CAclubindia News

India's Fiscal Deficit for April-September 2024 Marks 29.4% of FY25 Target

02 November 2024 at 08:54

India's fiscal deficit for the first half of FY25 (H1FY25) was reported at ₹4.7 trillion, or 29.4% of the full-year Budget Estimate (BE) of ₹16.16 trillion, as per data from the Controller General of Accounts (CGA).

Posted in Income Tax | 549 Views

GST Collection Hits Rs 1.87 Lakh Crore in October, Second-Highest Ever Boosted by Domestic Sales

02 November 2024 at 08:52

India recorded significant growth in its Goods and Services Tax (GST) collections for October 2024, showcasing a strong economic momentum.

Posted in GST | 1089 Views

CBDT Notifies Electronic Submission of Specified Forms Under Rule 131 for Income Tax Compliance

01 November 2024 at 07:58

CBDT through the Directorate of Income Tax (Systems), issued Notification No. 5/2024 on October 30, 2024, mandating the electronic submission of certain forms listed in Appendix-II of the Income Tax Rules, 1962

Posted in Income Tax | 2688 Views

CBDT Grants Delay Condonation for AY 2023-24 Income Returns Claiming Section 80P

01 November 2024 at 07:56

The Central Board of Direct Taxes (CBDT) has recently issued Circular No. 14/2024 on October 30, 2024, which allows for the condonation of delay in filing income tax returns for Assessment Year (AY) 2023-24

Posted in Income Tax | 2799 Views

ICAI and CAs: Supporting India's Journey to Become a $30 Trillion Economy by 2047

01 November 2024 at 07:54

India's Vision India@2047, a blueprint to transform the nation into a $30 trillion economy by 2047

Posted in Professional Resource | 6795 Views

CBDT Notifies Transfer Pricing Tolerance Range for AY 2024-25 Under Rule 10CA

31 October 2024 at 08:05

The Central Board of Direct Taxes (CBDT) has issued notification no. 116/2024 dated October 18, 2024 notifying the tolerance range for AY 2024-25.

Posted in Income Tax | 771 Views

CBI Files Chargesheet Against Former IT Commissioner in Rs 10 Lakh Bribery Case Involving Multiple Accused

31 October 2024 at 08:03

The Central Bureau of Investigation (CBI) has officially filed a chargesheet against five individuals, including the former Principal Commissioner of Income Tax for Patna and Dhanbad, in connection with an alleged Rs 10 lakh bribery case.

Posted in Income Tax | 1488 Views

CBDT Chairman Urges Income Tax Department to Build Responsive, Fair and Empathetic Tax Administration

31 October 2024 at 07:53

Extending Diwali greetings, Agrawal underscored the values of "perseverance, integrity, and wisdom" as guiding principles for department officials

Posted in Income Tax | 1764 Views

Surge in Crorepati Tax Filers: Over 2.38 Lakh Report Rs 1 Crore+ Income for AY 2024-25

31 October 2024 at 07:46

India has seen a remarkable rise in high-income individual income tax return (ITR) filings, with over 2.38 lakh taxpayers reporting incomes above ₹1 crore in the first half of the current fiscal year (April-September 2023).

Posted in Income Tax | 378 Views

GSTN Issues Advisory on Biometric Aadhaar Authentication & Document Verification for GST Registration in Ladakh

31 October 2024 at 07:45

GSTN Issues Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Ladakh

Posted in GST | 330 Views