CAclubindia News

Income Tax Refund Delays Rise Sharply, Finance Panel Raises Concern Over 27 Lakh Pending Cases

16 March 2026 at 09:23

A parliamentary committee has flagged rising delays in income tax refunds, revealing that nearly 27 lakh cases exceeded the 90-day limit in FY 2025-26, while outstanding direct tax arrears reached Rs 47.42 lakh crore.

Posted in Income Tax | 519 Views

GSTN Issues Advisory on Pre-Deposit Payment While Filing Appeals Before First Appellate Authority

16 March 2026 at 09:23

GSTN issues advisory on pre-deposit payment while filing appeals before the First Appellate Authority, clarifying that payments made through Form GST DRC-03 must be linked with the demand order using Form DRC-03A for proper adjustment.

Posted in GST | 3150 Views

Income Tax Department Clarifies 'Significant Transactions' Emails Sent During Advance Tax e-Campaign for AY 2026-27

14 March 2026 at 15:27

Taxpayers are advised to ignore earlier incorrect emails on significant transactions under the Advance Tax e-Campaign and verify details on the Compliance Portal.

Posted in Income Tax | 9696 Views

Government Amends Securities Contracts Rules to Revise Minimum Public Shareholding Norms

14 March 2026 at 09:21

Government notifies Securities Contracts (Regulation) Amendment Rules 2026, revising minimum public shareholding and IPO offer requirements for companies based on post-issue capital.

Posted in Others | 1617 Views

Finance Ministry Reconstitutes Advisory Board Under Narcotic Drugs Law for One Year

14 March 2026 at 09:17

The Ministry of Finance has reconstituted the Advisory Board under the Prevention of Illicit Traffic in Narcotic Drugs and Psychotropic Substances Act, 1988, appointing Justice Anup Jairam Bhambhani as Chairman.

Posted in Others | 72 Views

ICAI Halts SPOM Tests from April 11-20 Due to SPMT Portal Upgrade

14 March 2026 at 09:09

The Institute of Chartered Accountants of India (ICAI) has announced that Self-Paced Online Module Tests (SPMT) will not be conducted from April 11 to April 20, 2026 due to portal maintenance and software upgrades. Slot booking will resume from April 21.

Posted in Students | 174 Views

Centre Renames Personal Income Tax as Non-Corporate Tax from FY 2025-26

14 March 2026 at 09:07

Government renames Personal Income Tax as Non-Corporate Tax from FY 2025-26. NCT collections reached Rs 12.35 lakh crore in FY 2024-25, growing 18.23%, Finance Ministry informs Rajya Sabha.

Posted in Income Tax | 3684 Views

SBI Life Insurance Company Receives Rs 537.75 Crore Income Tax Demand for FY24

14 March 2026 at 09:02

SBI Life Insurance has received an income tax demand of Rs 537.75 crore for FY24 from the Income Tax Department. The insurer plans to file an appeal against the assessment order.

Posted in Income Tax | 246 Views

President Murmu Urges Tax Officers to Exercise Authority With Humility and Constitutional Values

13 March 2026 at 09:10

President Murmu asked IT officers to balance enforcement with facilitation while ensuring fairness, transparency and efficiency in tax administration.

Posted in Income Tax | 1668 Views

Finance Ministry Urges Banks to Fast-Track IBC Case Resolution to Maximise Asset Value

13 March 2026 at 09:10

Finance Ministry urges banks to adopt a collaborative approach to resolve pending IBC cases at NCLT, minimise delays in CIRP filings and improve recovery from stressed assets.

Posted in Corporate Law | 1566 Views