The Income Tax Department has released the Excel Utility for ITR-5 for the Assessment Year (AY) 2024-25, streamlining the tax filing process for entities required to submit this form.
In a significant move, Prime Minister Narendra Modi's government has reappointed Nirmala Sitharaman as the Finance Minister. The official announcement came on June 10, a day after the ministers took the oath alongside Modi.
It has been decided that apart from the regular release of the devolution amount for the month of June 2024, one additional instalment will be released. This release cumulatively amounts to Rs. 1,39,750 crore in the current month
Private sector lender IDBI Bank Ltd announced on Friday, June 7, that it has received an income tax refund order amounting to ₹2,701.62 crore for the assessment year 2016-17.
Officials from the Directorate General of GST Intelligence (DGGI), Coimbatore, have arrested an individual for availing of fake input tax credit amounting to ₹37.2 crore and passing on fake input tax credit worth ₹65.42 crore.
In a recent move, the Directorate General of Goods and Services Tax Intelligence (DGGI) has launched investigations into airlines retaining taxes collected from customers in no-show scenarios
The Centre is set to introduce the Central Excise Bill, 2024, during the upcoming budget session, aiming to replace the long-standing Central Excise Act, 1944
Filing of information by manufacturers of Pan Masala and Tobacco taxpayersPlease refer to the notification Notification No. 04/2024 - Central Tax dated 05-01-2024 to seek information from taxpayers dealing in the goods mentioned therein. Two forms ha
The State Goods and Service Tax (SGST) department in Surat has delved into the financial dealings of renowned ice-cream brands, including Bismillah and 51-Rainbow, unearthing serious irregularities.
The AI Committee of ICAI invites unconditional Expressions of Interest (Technical Proposals) from experienced AI companies that have developed AI tools for finance, accounting, tax compliance, legal document drafting, and AI similar services.
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