CASH LIMIT FOR SAVING BANK ACCOUNT IN 2024 after budget I CA Satbir singh
CASH LIMIT FOR SAVING BANK ACCOUNT IN 2024 after budget I CA Satbir singh
Monthly Archives: February 2024
Rs 4600 Crore collected from 56 Lakh updated ITR return filer
“The Income Tax Department has garnered about ₹4,600 crore in taxes from 56 lakh updated I-T returns filed by taxpayers in the past two years,” Central Board of Direct Taxes (CBDT) chief Nitin Gupta said. In a post Budget interview to PTI TV, Mr. Gupta also said the I-T Department has set up a demand management centre… Read More »
Govt collected Rs 1260 Crore TDS till now from online gaming and cryptocurrency
The government has collected about Rs 1,260 crore in taxes till now this fiscal after a new TDS regime was brought in for online gaming and trade in cryptocurrency, CBDT Chairperson Nitin Gupta said Friday. About Rs 1,080 crore in taxes (under the tax deduction at source head) has been collected from online gaming and… Read More »
CBDT notifies Income Tax Return form for AY 2024-25
CBDT notifies Income Tax Return Forms for the Assessment Year 2024-25 well in advance for the Assessment Year (A.Y.) 2024-25 Posted On: 02 FEB 2024 6:07PM by PIB Delhi The Central Board of Direct Taxes (CBDT) vide Notification No. 19 of 2024 dated 31.01.2024, has notified Income-tax Return Forms (ITR Form) – 2, 3 and… Read More »
ICAI Guidelines on Continuing Professional Education for undergoing CPE Activities by Members of ICAI
Continuing Professional Education Committee The Institute of Chartered Accountants of India 30th January, 2024Announcement Issuance of CPE Statement, 2023: Guidelines on Continuing Professional Education for undergoing CPE Activities by Members of ICAI The Continuing Professional Education Committee (CPEC) a non-standing committee of the Council of the ICAI is entrusted with the task of setting strategic… Read More »
97.50% of the Rs 2000 banknotes returned : RBI
Withdrawal of ₹2000 Denomination Banknotes – Status The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000 denomination banknotes from circulation vide Press Release 2023-2024/257 dated May 19, 2023. The status of withdrawal of ₹2000 banknotes is periodically published by the RBI. The last press release in this regard was published on January 01, 2024.… Read More »
GST Department can not seize Cash during search : High Court
GST Department can not seize Cash during search : High Court HIGH COURT OF DELHI Goyal Metal Udyog v. Commissioner of Central Goods & Services Tax VIBHU BAKHRU AND AMIT MAHAJAN, JJ. W.P.(C) NO. 7618 OF 2019 CM APPL. NO. 42253 OF 2019 AUGUST 22, 2023 Ruchir Bhatia and Rakesh Kumar, Advs. for the Petitioner. Harpreet Singh, Ms. Suhani Mathur and Jatin Kumar Gaur,… Read More »
Individuals/HUFs subject to tax audit can verify ITR using EVC
Individuals/HUFs subject to tax audit can verify ITR using EVC Rule 12 of Income Tax Rules has been amended from ay 2024-25 onwards to allow individuals and HUF, who are liable to tax audit under section 44AB, to verify return of income through electronic verification code.
Attention Tax Deductors/ Collectors!! Inoperative PAN attract higher TDS/TCS
Attention Tax Deductors/ Collectors!! Deductees/Collectees having PAN status as ‘Inoperative’ attract higher TDS/TCS rates applicable as per provisions of Section 206AA/ 206CC of Income Tax Act. Please refer CBDT Notification no 15/2023 and Circular no 3/2023 dated 28th March 2023. The status of PAN can be checked by clicking the link ‘Verify PAN Status’ available… Read More »
ITR FILING AY 2024 – 25 I Which ITR Form to file I HOW TO CHOOSE ITR FORMS I INCOME TAX RETURN
ITR FILING AY 2024 – 25 I Which ITR Form to file I HOW TO CHOOSE ITR FORMS I INCOME TAX RETURN