CBI Arrests A Deputy Commissioner of Income Tax And An Auditor (Private Person) In A Bribery of Rs. 50,000/- The Central Bureau of Investigation has arrested a Deputy Commissioner of Income Tax, Coimbatore (Tamil Nadu) and an Auditor (a Private person) for demanding & accepting bribe of Rs.50,000/- from the Complainant. A case was registered […]
Union Finance Minister Government has proposes 39 amendments to Finance Bill, 2022 Smt. Nirmala Sitharaman has proposed 39 amendments to Finance Bill, 2022 vide a Notice of Amendments dated 23.03.2022 introduced in Lok Sabha. Full text of the Notice of Amendments is as follows:- *List No. 1 LOK SABHA FINANCE BILL, 2022 [As introduced in […]
Whether Central Processing Centre (CPC) Bangalore processes the Income Tax returns without applying the provisions of Section 5A in several cases resulting in hardships and harassments to the tax payers of Goa;
India has progressive direct taxation system wherein an individual or Hindu undivided family (HUF) or an association of person or body of individuals is required to pay tax at a higher rate with an increase in income levels.
Government e-Market portal touches an annual procurement of INR 1 Lakh crore within FY 2021-22 The number of orders surpasses 31.5 Lakh in the current financial year with a growth rate of 22% In a short span of 5 years, GeM becomes one of the largest government e-procurement platforms in the world GeM endeavours to […]
Income Tax Department carried out a search and seizure operation on 14.03.2022 on a popular chain of educational institutes, running several schools and colleges at multiple locations in India and abroad. The search operation covered more than 25 premises spread over locations in Maharashtra, Karnataka and Tamil Nadu.
The unprecedented provisions of appointment of 2 non-CAs as members (out of 3 members’ Board) may have a larger impact as the work of CAs would be majorly judged by Non-CAs. Earlier there used to be only one Govt. nominee in the committee
The UK today (Thursday 17 March) announced it is suspending the exchange and sharing of tax information with Russia and Belarus as part of continued efforts to inflict economic pain on President Putin’s regime. -The UK has suspended all exchange of tax information with Russia and Belarus under the UK’s exchange of information agreements -Move […]
India imported 17.44 LMT edible oils from Ukraine and 3.48 LMT edible oils from Russia in 2020-21 In a bid to control the rise in cooking oil prices, the Centre has cut the basic duty on Crude Palm Oil, Crude Soyabean Oil and Crude Sunflower Oil from 2.5% to Nil The basic duty on Refined […]
As per Reserve Bank of India (RBI) data, total FDI inflow of US$ 74.01 billion has been reported in calendar year 2021 compared to US$ 87.55 billion in calendar year 2020.
