RBI has withdrawn Rs 2000 notes from circulation. Individuals holding Rs 2000 notes can now either exchange them for other denomination notes from a bank or deposit the same into their bank accounts. However, if you deposit more than Rs 50,000 in a single transaction, then you …
The Commissionarate of CT & GST, Odisha, Finance Department has issued Instructions vide No.CCT-PEI-POL-0155-2021/7869/CT&GST dated May 10, 2023 regarding care to be taken during the process of registration, cancellation of registration and revocation of cancellation of registration of fake taxpayers under GST. Instructions were issued vide this office …
The Goods and Services Tax Network (GSTN), which is the technology interface between government and taxpayers, is due to be integrated with the country’s ambitious financial data sharing network Account Aggregator before July 1, according to top officials overseeing the process. This can significantly reduce friction …
Higher penalty for cartels and greater leniency provisions introduced in competition law last month will go hand in hand in tackling cartels which are by nature difficult to prove, the corporate affairs ministry said in a monthly update, indicating what would be the competition watchdog CCI’s …
Small businesses that sell goods through e-commerce platforms fear a recently launched drive against fake Goods and Services Tax (GST) registrations could hit them hard because many of them run operations through co-working spaces or shared warehouses practices that may pose a hurdle during verification. Central …
TDS (tax deducted at source) will not apply to interest earned on Mahila Samman Savings Certificate (MSSC), but interest income will be added to total income for tax calculation. A Finance Ministry notification says the MSSC will be a scheme under “sub-clause (c) of clause (i) …
Committee for Development of International Trade, Services & WTO The Institute of Chartered Accountants of India ANNOUNCEMENT SEEKING INPUTS FOR MEASURING COST OF REGULATION – AS REQUESTED BY DPIIT This is with reference to the communication received from Department For Promotion of Industry and Internal Trade …
Guidelines for the removal of difficulties under Section 194BA that deals with Winnings from Online Games Finance Act 2023 inserted a new section 194BA in the Income-tax Act, 1961 (hereinafter referred to as “the Act”) with effect from April 01, 2023. The new section mandates a …
It isn’t just GST authorities who have run against a legal wall in their attempt to claim Rs 21,000 crore from Gameskraft. Even the income tax (I-T) department, which had issued notices to the company and over 10,000 gamers, is facing hurdles, but of a different …
CBDT proposes changes to Rule 11UA in respect of ANGEL TAX- Also proposes to notify Excluded Entities In the Finance Act, 2023, an amendment has been introduced to bring the consideration received from non-residents for issue of shares within the ambit of section 56(2)(viib) of the …
