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INCOME TAX – (Circular No. 06/2024)
INCOME TAX - (Circular No. 06/2024) PARTIAL MODIFICATION OF CIRCULAR NO. 3 OF 2023 DATED 28.03.2023 REGARDING CONSEQUENCES OF PAN BECOMING INOPERATIVE AS PER RULE 114AAA OF THE INCOME-TAX RULES, 1962, dated 23.04.2024. Circular No. 3 of 2023 dated 28.03.2023...
Income Tax – (Circular no. 7/2024)
INCOME TAX – (Circular No. 7/2024) EXTENSION OF DUE DATE FOR FILING OF FORM NO. 10A/10AB UNDER THE INCOME-TAX ACT, 1961, dated 25.04.2024.
6 Years of GST: Centre’s Big Focus on Anti Evasion Measures; Industry Flags Unfinished Agenda
6 years into GST and the focus has shifted and how. The pendulum has swung from compensation issues and big rate rationalisations to curbing tax evasion & fake in voicing while industry clamours for clarity on basics.
CBDT Issues Clarification on PAN-Aadhaar Linking
The income tax department, on its official Twitter handle, has issued a clarification on PAN-Aadhaar linking for individuals facing difficulties in linking the same. The clarification has come just a few hours before the expiry of the deadline for linking PAN with...
I-T Dept Launches Tax-Evasion Probe Against Social Media Influencers
The income-tax department has launched a probe against certain social media influencers and content creators on platforms like YouTube and Instagram for allegedly not showing their income and profits commensurate with their earnings, official sources said on Thursday.
Income Tax Return (ITR) Filing: Exemptions and Deductions that Senior Citizens Can Claim
India's income tax law provides several tax benefits for senior citizens. A resident Indian who is 60 years of age or older is considered a senior citizen. Only residents of the country can avail of these special benefits.
Tax Hike on International Transactions to Come into Effect from Oct 1
The Ministry of Finance on Wednesday extended the deadline to apply the proposed changes in Tax Collection at Source (TCS) rates from October 1. Centre has given more time for implementation of revised TCS rates and for inclusion of credit card payments in LRS. Till...
GST Officers Bust Nexus of 30 Fake Firms for Passing Rs 50 cr ITC
The GST officers have busted a nexus of more than 30 fake firms, who have availed ineligible input tax credit (ITC) of over Rs 50 crore, the finance ministry said on Wednesday.
After HDFC Life, ICICI Prudential receives GST demand notice of Rs 492 crore
ICICI Prudential Life Insurance Company Ltd on Monday said it has received a show cause cum demand notice from the Directorate General of GST Intelligence (DGGI) for Rs 492.06 crore for the period July 2017 to July 2022.
RBI – (Circular No. 06) Remittances To International Financial Services Centre’s (IFSC) Under The Liberalized Remittance Scheme (LRS), Dated 22.06.2023.
Attention of Authorised Persons is invited to A.P. (DIR Series) Circular No. 11 dated February 16, 2021 and A.P. (DIR Series) Circular No. 03 dated April 26, 2023 on “Remittances to International Financial Services Centres (IFSCs) in India under the Liberalised...
