# apnokaca blog
12 posts in `apnokaca blog` tag
Anticipating Change: Interim Budget 2024 Could Bring a Rs 50000 Hike in Tax Exemption Limits - APNOKACA
The forthcoming interim budget on February 1, 2024, may witness an increase in the tax exemption limit, with the government potentially introducing a new finance bill for this adjustment.
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By Krishna
Polycab Clarification: No Communication from Income Tax on Tax Searches, APNOKACA Informed
The clarification comes after the Income Tax department uncovered "unaccounted cash sales" amounting to approximately Rs. 1,000 crore during a recent raid on the Polycab Group.
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By Krishna
Unreceived Tax Refund Reasons Solutions APNOKACA
After e-verification or manual verification by the taxpayer, the Department processes the ITR. It sends an Intimation-cum-Notice under Section 143(1) of the Income Tax Act, 1961, to the taxpayer's registered email.
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By Krishna
Revamping the Appeal: Key Measures to Enhance the New Personal Income Tax Regime APNOKACA
While several options are being contemplated, there are suggestions that any such measures might be postponed until after the interim Budget on February 1.
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By Krishna
Tax Regime Under Scrutiny: New Modifications Pose Potential Changes at APNOKACA
Tax experts suggest that the government may need to raise the threshold for the highest Personal Income Tax (PIT) rate, currently set at 30% and applicable from Rs 15,00,000 to at least Rs 20,00,000.
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By Krishna
Critical Update: E-Waybill Generation Mandates E-Invoice Details Starting March 01, 2024
The journey began with the operationalization of e-invoice in October 2020 for taxpayers with an Annual Aggregate Turnover (AATO) above Rs. 500 Crores.
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By Krishna
Exploring Options: Filing IT Returns After the December 31 Deadline at APNOKACA
Taxpayers have several opportunities to complete their Income Tax Returns. The deadline for filing Income Tax Returns (ITR) for the financial year 2022-23 was December 31.
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By Krishna
Influence of GST on India Budget Distribution: Insights from APNOKACA
In December 2023, GST collections increased by 10%, reaching around Rs 1.64 lakh crore compared to Rs 1.49 lakh crore in the same month in 2022, as reported by the finance ministry.
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By Krishna
Government Clarification Awaited: GST Implications for Online Gaming
GST authorities have issued show cause notices totaling over ₹ 1.12 lakh crore to online gaming companies for alleged tax evasion. Sitharaman clarified on December 19 that the valuation rules excluding winnings would be applied prospectively.
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By Krishna
Income Tax Department Exposes Rs 1000 Crore Unreported Cash Sales at Polycab APNOKACA
In an official ministry statement it was confirmed through the search operation that Polycab India engaged in unaccounted cash sales totaling around Rs 1000 crore.
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By Krishna
Interim Budget 2024 No changes Income Tax Rebate APNOKACA report
Additionally, the basic exemption limit was raised from Rs 2.5 lakh to Rs 3 lakh. A deduction of Rs 15,000 for a family pension was introduced.
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By Krishna
2024 Tax Regime Transition Guide: Navigating New vs Traditional Income Tax Returns | APNOKACA
In the 2023 Budget, FM Nirmala Sitharaman introduced several changes in the New Tax Regime.
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By Krishna