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The Central Board of Direct Taxes (CBDT) has announced significant amendments to the Income-tax Rules through Notification No. 111/2024, dated October 15, 2024. Effective from October 1, 2024, these changes aim to streamline the registration process for charitable institutions, trusts, and non-profit organizations under sections 12A and …

The Central Board of Direct Taxes (CBDT) has issued Notification No. 112/2024 on October 15, 2024, introducing significant modifications to the Income-tax (Eighth Amendment) Rules, 2024. These changes primarily impact the provisions surrounding tax deductions at source (TDS) and tax collection at source (TCS), particularly under section 192(2B). Key …

Auditing and Assurance Standards Board The Institute of Chartered Accountants of India 14th October 2024 Issuance of SQM 1, SQM 2 The Institute of Chartered Accountants of India (ICAI) is issuing the following standards: S. No. Standards 1. SQM 1, Quality Management for Firms that Perform …

Starting FY 2023-24, GST system will auto-populate eligible ITC for domestic supplies (excluding reverse charge and imports ITC) from table 3(I) of GSTR-2B to table 8A of GSTR-9. These changes in GSTR-9 and 9C for the FY 2023-24 will be available on the GST portal from …

State Financial Commissioner (Taxation) Krishan Kumar conducted a surprise inspection in the old market area near Rainak Bazaar, uncovering a common practice of shop owners selling items without issuing bills to evade GST. While no penalties were imposed during the visit, the Commissioner issued warnings to …

SpiceJet announced on Friday that it has cleared all pending salary and GST dues, following the recent infusion of ₹3,000 crore through a Qualified Institutional Placement (QIP) of shares on September 23. The airline, which has been grappling with financial difficulties and legal challenges, has also …

In a dramatic protest, Meerut-based iron trader Akshay Jain stripped down to his underwear at the Mohan Nagar GST office in Ghaziabad, alleging persistent harassment by officials of the department. A video of his protest went viral on social media, prompting Samajwadi Party chief Akhilesh Yadav …