The GST department has directed its officers across the country to roll up their sleeves to meet current year GST revenue target. The officers across all grades have been instructed to not take leaves until March 31 unless there is an emergency, sources told TNIE....
The concept of TDS payment serves as a method to collect taxes directly from the source of income. Essentially, it mandates that a person (known as the deductor), who is liable to make payments of specified nature to another person (the deductee), must deduct tax...
In the intricate realm of taxation, the process of filing an Income Tax Appeal to the CIT (Commissioner of Income Tax Appeals) serves as a crucial avenue for taxpayers seeking resolution and fairness. This mechanism offers individuals and businesses the opportunity to challenge and rectify...
The Goods and Services Tax (GST) Council is expected to address co-insurance and re-insurance matters in its upcoming meeting following examination by the fitment committee, as per a senior government official. Instances of tax evasion have emerged in the insurance sector due to certain industry...
A Conclave on ‘GST and Globalization’ was organized by the Federation of Telangana Chambers of Commerce and Industry (FTCCI) in the city. During the event, the industry body urged the Chief Minister and the State Finance Minister to raise the threshold limit for GST registration...
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The Institute of Chartered Accountants of India (ICAI) has published the Revised 2024 Edition of the Implementation Guide on Reporting on Audit Trail in accordance with Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014....
The recent interim Budget announcement regarding the extension of tax benefits for startups until March 2025 has garnered praise from industry leaders. This move reflects the government's steadfast commitment to fostering a conducive environment for startup growth and sustainable investments, hailed as a progressive and...
The Union government's expenditure on explicit subsidies, including those for food, fertiliser, and LPG, is anticipated to decrease by 21% to Rs 4.13 trillion in the current fiscal year, down from Rs 5.24 trillion in FY23. However, for the fiscal year 2024-25, the interim budget...
In a recent development, the Rajasthan GST Department has released a Notification on February 08, 2024, unveiling the eagerly awaited Amnesty Scheme-2024. This initiative aims to grant substantial benefits to dealers and individuals by providing concessions on taxes and simplifying the resolution of outstanding demands...
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