CBDT vide Circular No. 04/2023-Income Tax clarified that Each year, employer shall seek information from each of its employees regarding their intended Tax Regime (Old or New under section 115BAC) and deduct TDS accordingly, If intimation is not made by an employee then his default tax regime is new Income Tax regime u/s 115BAC. CBDT […]
Officers of Delhi CGST Zone detected a case of wrongful availment of input tax credit and non-deposit of GST collected from customers in the course of Audit. More than Rs. 27 Crore has since been recovered. Cases such as these go a long way in showcasing the salience of our Audit functions.
Master Circular – Scheme of Penalties for bank branches including currency chests for deficiency in rendering customer service to the members of public – The Scheme of Penalties for bank branches including currency chests has been formulated in order to ensure that all bank branches/ currency chests provide better customer service to the members of public/ linked bank branches keeping in view the objectives of Clean Note Policy and enhancing operational efficiency as part of currency management.
In the event of delay in reporting currency chest transactions, penal interest at the rate indicated in paragraph 4 of this circular shall be levied on the amount due from the chest holding bank for the period of delay.
Amendment to Notification 40/2015 – Customs dated 21.07.2015 vide Notification No. 29/2023 – Customs Dated: 03rd April, 2023 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 29/2023 – Customs Dated: 03rd April, 2023 G.S.R. 265(E).- In exercise of the powers conferred by sub-section (1) of section […]
Postponement of Chartered Accountants Examination scheduled to be held on 10th May, 2023 (Wednesday) at Examinations Centres in State of Karnataka
AO is only entitled to reopen assessment, but he cannot review an assessment in the sense that there cannot be a rethinking or different opinion on the same material, which was the subject matter of the original assessment proceedings.
Interest rates of small saving schemes for the First quarter of financial year 2023-24 starting from 1st April, 2023 and ending on 30th June, 2023. Small saving schemes includes PPF, NSC, Senior Citizen Savings Schemes, Sukanya Samriddhi Account Scheme, Kisan Vikas Patra of GoI.
Govt amends Notification No. 11/2017-Central Excise, dated the 30.06.2017 to extend the date of applicability of additional duty of excise on unblended diesel vide Notification No. 15/2023-Central Excise Dated: 31st March, 2023. MINISTRY OF FINANCE (Department of Revenue) Notification No. 15/2023-Central Excise Dated: 31st March, 2023 G.S.R.241(E).— In exercise of the powers conferred by sub-section […]
If any person, had already given a declaration as required by the Bureau under sub-section (4) of section 18 of the Bureau of Indian Standards, Act, 2016 (11 of 2o16) declaring his old stock of Gold jewellery or Gold artefacts with old hallmarking as existed prior to 1st July 2021, such person shall be permitted to sell or display or offer to sell such declared stock of old Gold jewellery or Gold artefacts upto the 30th June 2023
