Corrigenda: 43B of Income Tax Act, 1961
The Central Board of Direct Taxes (CBDT) issued Notification No. 34/2024 F. No. 370142/3/2024-TPL dated 19.03.2024 as Corrigenda to Notification No. 27/2024 /F. No. 370142/3/2024-TPL. Read more
Income Tax Department Imposes Rs.103.63 Crore Fine On Tata Chemicals
Income Tax Department has imposed a penalty of Rs. 103.63 crore on Tata Chemicals for a violation related to disallowance of interest. Read more
Latest Income Tax Slab and Rates – FY 2023-24 | AY 2024-25
The income tax slabs and income tax rates will remain unchanged in the upcoming financial year 2024-25, starting from April 1, 2024. Hence, an individual will need to analyse between the old and new tax regime to lower their income tax liability. Read more
March 31 is the last date to file ITR-U for AY 2021-22
Eligible taxpayers need to file their updated income tax return (ITR-U) for AY 2021-22 (FY 2020-21) by March 31, 2024, as this is the last date to do so. ITR-U can be used to fix errors like under-reporting or misreporting of income, or other errors in the previously filed ITR. Read more
GST Scam: Noida Police arrest two billionaire traders, masterminds of multi-crore GST scam
The Directorate General of Goods and Services Tax Intelligence (DGGI) has sent show-cause notices to a number of mutual fund (MF) companies in recent weeks, seeking to recover a tidy sum from them as goods and service tax (GST) on exit-load charges. Read more
Mumbai: Customs Initiates Website Security Audit After Hacking Incident, Invites Bids For Assessment
Mumbai Customs Department is carrying out an audit of its website to assess the security risks facing an organization and the controls of counter-measures adopted by the organisation to mitigate those risks. Last year, one of the websites of Customs was hacked by an Indonesia based hacking group. Read more
GST deputy commissioner arrested in Lucknow
A Deputy Commissioner of Goods and Services Tax (GST) was caught by Vigilance Establishment red-handed taking a bribe of Rs. 2 lakh in exchange for processing a private company’s GST refund. The accused arrested was identified as Dhanendra Kumar Pandey. He was posted as Deputy Commissioner (GST) at Zone 20 and has been suspended with immediate effect. Read more
Amendment in Haryana State GST IU mandated to investigate the cases related to GST
The Excise & Taxation Department, Haryana, Panchkula issued an Order No. 01/2024/GST-II dated 15.03.2024 amending the Order no. 02/2021/GST-II dated 22.03.2021. Read more
Advisory on exercising due diligence for issuance of notices u/s 73/74 of Assam GST Act
The Government of Assam, Office of the Principal Commissioner of State Tax cum Commissioner of Taxes, Assam issued Instruction No. 14/2024-GST dated 14.03.2024 to issue advisory on exercising due diligence for issuance of notices under Section 73/74 of Assam GST Act and timely completion of adjudication thereof. Read more
Guidelines regarding DSC affixation in the Taxpayer communications issued by the Tax Officer
The Office of the Commissioner of Commercial Taxes, Central Computer Wing Telangana, Hyderabad issued Circular CCT’s Ref. No. CS(1)/06/2016 dated 12.03.2024. Read more
Time limit for disposal of pre-GST appeal extended : Madhya Pradesh
The Value Added Tax department, Bhopal issued Instruction No. CT/4/2/0001/2023-Sec-1-05(CT)(07) dated 13.03.2024 extending time limit for disposal of appeal under pre-GST law. Read more
Instruction regarding rectification of assessment orders u/s 161 of DGST Act, for FY 2017-18 – New Delhi
The Department of Trade and Taxes Policy Branch, New Delhi issued and Instruction dated 21.03.2024 regarding rectification of assessment orders under Section 161 of DGST Act, 2017 for FY 2017-18. Read more
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