NICAI UPDATES

 1. The Income Tax department has sent alerts through text messages and emails to around 3 million salaried taxpayers across the country, highlighting the apparent mismatch between TDS and the refunds claimed by them in their revised tax returns.  2. Chief Minister Haryana launched the One Time Settlement-2023 (OTS) Scheme for Pre GST Liability . The scheme will be operational from January 1, 2024, to March 30, 2024 for  businesses to have the opportunity to settle the dispute.  3. Office of the Principal Commissioner of State Tax Cum Commissioner of Taxes, Assam issued Instruction No.13/2023-GST dated December 26, 2023, regarding notice issued based on IIT Big Data Software. 4. Electric cars in India are expected to experience a 30 to 40 per cent increase in volume sales in 2024 as demand remains strong with more models across the Rs 8 lakh to Rs 30 lakh price spectrum set to launch and an increase in charging points.  By CA Raj Chawla