ICAI seeks tax incentives for entities engaged in green energy projects
Chartered accountants’ apex body ICAI has proposed separate deduction of expenses related to education of a girl child in the tax regime as well as tax incentives for entities engaged …
Pakistan to block mobile sim cards of over half a million tax defaulters
Pakistan authorities decided to freeze sim cards of over half a million people who failed to file tax returns for 2023. The Federal Board of Revenue (FBR) sated in an Income …
ITR filing for FY 2023 enabled but CAs advising to hold return filing
ITR filing was enabled for FY 2023 in the first week of April 2023 in order to ease compliance and avoid last minute rush …
Exposure Draft Guidance Note on Reports of Audit u/s 12A/ 10(23C) of the Income-tax Act, 1961
The Direct Tax Committee of The Institute of Chartered Accountants of India, New Delhi published a Exposure Draft Guidance Note on Reports of Audit u/s 12A/ 10(23C) of the Income-tax …
Centre may allow companies a bigger CSR canvas to paint on
The Centre is weighing a proposal to tweak corporate social responsibility (CSR) norms for widening their scope and coverage …
Trade bodies challenge new income tax provision for micro, small enterprises in Supreme Court
Three trade bodies have moved the Supreme Court against a new income tax provision related to payment to micro and small enterprises. Federation of All India Vyapar Mandal, Federation of Madras Merchants …
Technology in account keeping has made the job of chartered accountants easier
Union Finance Minister Nirmala Sitharaman said that the introduction of technology in account keeping has made the job of chartered accountants easier and has streamlined the system, while addressing a gathering at …
Advance Tax Paid, Do You Still Need To File ITR?
ITR is a form you submit to the Income Tax Department that details your income earned and taxes applicable for a specific financial year (April 1st to March 31st of …
Govt kicks off direct tax code revision
The present government, if voted back to power, will implement the long-delayed Direct Taxes Code (DTC) on a priority basis, official sources said, adding that discussions were already underway in …
CBDT asks self-reporting orgs to file details of high-value transactions by June 30
CBDT has asked SROs or self-reporting organisations to file details of all high-value transactions that were carried out in 2022-23 by June 30. The SROs include organisations such as banks, …
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