Enhancement in the GST Portal from 3rd May, 2024
GSTN has notified the taxpayers about the launching of enhanced version of GST portal on 3rd May 2024.
Category: Updates
Revised Special Procedures for Registered Manufacturers of Pan-Masala by CBIC
CBIC notifies the revised Special Procedures for Registered Manufacturers of Pan-Masala effective 01/04/2024, vide Central Tax Notification 4/2024.
CBDT Notification on 30-Days Time Limit for Verification After ITR Uploading
CBDT has issued Notification 2/2024 to clarify the timeline of 30 days for verification after uploading the ITR, effective 01/04/2024.
RBI’s Updated Master Circular 2024 on Prudential (IRAC) Norms for Loans & Advances
The RBI has issued a revised Master Circular consolidating guidelines (IRAC Norms 2024) on income recognition, asset classification, and provisioning for loans & advances until March 31, 2024.
Health and Education Cess Rates under Income Tax (AY 2024-25)
Explore about the Health and Education Cess Rates applicable under the Income Tax in respect of AY 2024-25 for all types of assessees and taxation schemes.
Income Tax Rebate u/s 87A for Individuals AY 2024-25
Discover about the Income Tax Rebate available to Resident Individuals in respect of AY 2024-25 u/s 87A of the Income Tax Act, 1961.
Alternate Minimum Tax (AMT) for Non-corporate Taxpayers (AY 2024-25)
Explore the concept of Alternate Minimum Tax (AMT) which ensures fair share of tax liability for non-corporate taxpayers availing deductions and exemptions.
Second & Third Phase Peer Review Mandate Further Deferred by ICAI
ICAI has announced on 16/03/2024 that the second and third phase of the Peer Review Mandate has been further deferred/postponed to 01/07/2024 and 01/01/2025 respectively.
CBDT Allows Modified ITR Filing to Companies Reorganized Before April 2022
CBDT has issued Order dated 1/03/2024 which allows filing of modified income tax return (ITR) to companies reorganized before 1 April 2022 pursuant to orders from authorities like NCLT.
GSTN Advisory on Amendments in GSTR-1/IFF (New Tables 14A & 15A)
The GSTN has issued an advisory on the introduction of new tables 14A and 15A in GSTR-1/IFF forms for amending supplies made through e-commerce operators liable for tax collection/payment.