Month: March 2024
Guidelines for CGST field formations in maintaining ease of doing business while engaging in investigation with regular taxpayers
CBIC issued an Instruction No. 01/2023-24-GST (Inv.) dated 30.03.2024 providing guidelines for CGST filed formations in maintaining ease of doing business while engaging in investigation with regular taxpayers.
Income Tax – Here’s how to make a switch between new and old tax regimes
During the Union Budget 2023-24, Finance Minister declared that the new tax structure will be established as the default regime.
Tax department detects HRA fraud with illegal usage of PANs
The income tax department has detected a fraud involving unauthorised use of permanent account numbers (PAN) by individuals to claim house rent allowance when they were not even tenants.
“My PAN Card Misused”: Madhya Pradesh Student Gets Rs. 46 Crore Tax Notice
A youth, who is a college student, has filed a complaint with the police in Madhya Pradesh’s Gwalior district after transactions of Rs. 46 crores occurred from his bank account, a police official said on Friday.
Income Tax department levies Rs 564 crore penalty on Bank of India
The Income Tax department has levied a penalty of Rs 564.44 crore on Bank of India, the public sector lender said on Thursday.
Domestic startups come under income tax glare for their recent funding
Several new economy ventures, primarily in the fintech sector, have received income tax notices in recent weeks with respect to venture capital raised by them, according to people in the know.
New tax rules come into effect from April 1: Here’s all you need to know on basic exemption limit and rebate
Here’s a look at some of the changes in tax rules that will be effective from April 1.
Income Tax Dept sets high-risk value assessment guidelines for updated ITRs, AY 2021-22 filing deadline March 31
The Income Tax Department has finalized guidelines for assessing or re-assessing of high-risk value in updated Income Tax Returns filed…