CAclubindia News

ICAI Joins Hands with CBSE to Revolutionize Skill-Based Accounting Education

22 November 2024 at 13:05

The ICAI through its Committee on Career Counselling signed a MoU with the Department of Skill Education, CBSE on 21st November 2024, at Bhubaneswar, Odisha, to promote commerce-based skill courses for students across the country.

Posted in Accounts | 2685 Views

CBDT Mandates e-Filing for Forms 42, 43 and 44

22 November 2024 at 10:48

The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), has announced the issuance of Notification No. 06/2024, dated 19th November 2024, specifying the forms to be submitted electronically under the Income Tax Rules, 1962.

Posted in Income Tax | 2259 Views

RBI Warns Banks: Stop Freezing Accounts Over KYC Issues

22 November 2024 at 10:47

Banks are freezing accounts for those receiving government funds i.e., Direct Benefit Transfer (DBT) funds such as subsidies, pensions, etc. due to lack of KYC...

Posted in Others | 648 Views

Kerala GST Department Revises Adjudication Process for Show Cause Notices

22 November 2024 at 09:14

The Kerala GST Department, through Circular No. 21/2024-Kerala SGST issued on November 18, 2024, has introduced a revised framework for adjudicating show cause notices (SCNs) under the Kerala SGST Act, 2017.

Posted in GST | 558 Views

FM Nirmala Sitharaman Calls for Affordable Bank Interest Rates to Boost Investments

22 November 2024 at 09:12

In a bid to address borrowing challenges and stimulate investment, Finance Minister Nirmala Sitharaman on Monday urged banks to make interest rates "far more affordable."

Posted in Corporate Law | 1629 Views

Income Tax Department Stresses TDS Adherence for Mizos Despite Tax Exemption

22 November 2024 at 09:12

In a recent meeting held in Aizawl, the Income Tax Department reaffirmed that Mizos, as indigenous people residing in designated tribal areas, are exempt from income tax under Central Government laws.

Posted in Income Tax | 1659 Views

State Govt to Announce GST Reimbursement Framework for Handloom Weavers

22 November 2024 at 09:08

The Andhra Pradesh government will soon finalize guidelines for GST reimbursement to handloom weavers, announced Handloom and Textiles Minister S. Savitha during an assembly session on Tuesday.

Posted in GST | 405 Views

74% of High-End Corporate Taxpayers Favor Real-Time Tax Reporting: Survey

21 November 2024 at 09:04

A recent survey has revealed that 74% of India’s top corporate taxpayers are advocating for the Income Tax (I-T) department to enable near real-time reporting and compliance monitoring.

Posted in Income Tax | 432 Views

CBDT Grants Income Tax Exemptions to Legal and Aviation Bodies

21 November 2024 at 08:59

The CBDT has issued two key notifications under Section 10(46) of the Income-tax Act, 1961, exempting specified income of entities in the legal and aviation sectors from taxation. Notification No. 119/2024

Posted in Income Tax | 2565 Views

GSTAT to Be Operational by End of FY25: Revenue Secretary

21 November 2024 at 08:56

Revenue Secretary Sanjay Malhotra announced on Monday that the GSTAT, established to resolve GST-related disputes, is in its final stages of operationalisation and is expected to commence functioning by the end of the current financial year.

Posted in GST | 2451 Views