CAclubindia News
Higher PIT Collection Doesn't Mean Increased Tax Burden on Individuals, Say Sources
15 November 2024 at 09:20The Central Board of Direct Taxes (CBDT) has clarified that recent data showing higher personal income tax (PIT) collection growth compared to corporate tax does not imply that individuals are taxed more heavily than corporates.
Tax Evasion on the Rise as 23% of Transactions Are Tracked, Says Chief Commissioner of IT
15 November 2024 at 06:36In a significant statement, Sanjay Rai, the Chief Commissioner of Income Tax, Madurai, revealed that the Income Tax Department currently captures only 23% of the total transactions occurring across the country.
Two Senior IRS Officers Appointed to Key Roles in CBIC
15 November 2024 at 06:36The Appointments Committee of the Cabinet has approved the following appointments to the posts of Member, Central Board of Indirect Taxes and Customs
Direct Tax Code Overhaul Expected in Budget 2025 to Cut Litigation and Simplify Compliance
14 November 2024 at 09:26As the Union Budget 2025 approaches, the CBDT is reportedly focused on introducing a streamlined version of India’s income tax laws.
ICAI Announces Mock Test Series for CA Foundation January 2025 Exams
14 November 2024 at 06:41The Board of Studies is commencing Mock Test Papers Series - I & Series II from for Students appearing in CA Foundation Course for January 2025 Examinations.
GST Council May Grant Tax Relief on Health and Term Insurance for Senior Citizens in Dec 2024 Meeting
14 November 2024 at 06:41The upcoming GST Council meeting in Rajasthan on December 21-22, 2024, may bring potential tax relief for insurance policyholders.
CBDT Grants Tax Exemption to Petroleum and Natural Gas Regulatory Board Effective from AY 2024-25
14 November 2024 at 06:41On November 12, 2024, the Central Board of Direct Taxes (CBDT) issued a notification granting tax-exempt status to the Petroleum and Natural Gas Regulatory Board (PNGRB) under section 10(46A)(b) of the Income-tax Act, 1961.
GSTN Issues Advisory on IMS on Supplier View
14 November 2024 at 06:41Invoice Management System (IMS) has been made available on the GST Portal from 14th October, 2024 wherein the recipient taxpayer can accept, reject or keep the invoices pending which are saved/filed by their suppliers in their respective GSTR-1/1A/IFF.
ICAI Announces Mock Test Series for CA Intermediate January 2025 Exams
14 November 2024 at 06:41In preparation for the January 2025 CA Intermediate Examinations, the Institute of Chartered Accountants of India (ICAI) Board of Studies has announced two rounds of mock test papers, scheduled to begin on November 18, 2024.
NFRA Recommends Comprehensive New Audit Framework for India by April 2026
13 November 2024 at 09:34NFRA recommends revision of the Standard quality control (SCQ1) and Standard quality management (SQM1 and SQM2), on the lines of the global Standards
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