CAclubindia News
Form No. 27 Under IT Act 2025: CBDT Issues FAQs on Asset Attribution After Firm Reconstitution
02 June 2026 at 09:29CBDT has released detailed FAQs on Form No. 27 under the Income-tax Act, 2025, explaining filing requirements, valuation rules, compliance obligations, and reporting of capital assets after dissolution or reconstitution of specified entities.
ICAI President Unveils Major MSME, Sustainability and Digital Transformation Initiatives in June 2026 Message
02 June 2026 at 09:16ICAI President CA Prasanna Kumar D highlights the crucial role of MSMEs in India's growth story, outlines ICAI's initiatives for entrepreneurship development, and shares key updates on sustainability
GST Collections Rise 3.2% to Rs 1.94 Lakh Crore in May 2026
02 June 2026 at 09:15India's gross GST collections reached Rs 1.94 lakh crore in May 2026, registering 3.2% growth year-on-year. After adjusting for a one-time telecom payment in May 2025, GST revenue growth stood at 9%.
Income Tax Department Releases Updated Common Offline Utility for ITR-1, ITR-2 and ITR-4 for AY 2026-27
01 June 2026 at 09:41The Income Tax Department has released Version 1.1.0 of the Common Offline Utility for filing ITR-1, ITR-2 and ITR-4 for AY 2026-27. Download the latest utility released on May 29, 2026.
Centre Revises Central Excise Duty Rates on Petroleum Products from June 1, 2026
01 June 2026 at 09:30The Ministry of Finance has revised Central Excise Duty rates on specified petroleum products through Notifications No. 24/2026 and 25/2026. The revised rates will come into effect from June 1, 2026
ICAI Releases Revised Code of Ethics 2026
01 June 2026 at 09:23ICAI has announced the revised Code of Ethics (13th Edition), effective from April 1, 2026. The updated framework includes domestic ethical provisions, IESBA-aligned standards, and sustainability assurance ethics requirements for Chartered Accountants.
MCA Expands CSR Framework to Include Zero Coupon Zero Principal Instruments on Social Stock Exchange
30 May 2026 at 09:27MCA has expanded Schedule VII of the Companies Act, 2013 to allow CSR spending through Zero Coupon Zero Principal Instruments listed on the Social Stock Exchange.
Ministry of Finance Introduces Common Landing Portal for Unclaimed Financial Assets
30 May 2026 at 09:18The Department of Financial Services has launched a Common Landing Portal for Unclaimed Financial Assets, providing a single platform for citizens to search unclaimed bank deposits, insurance claims, shares, dividends, and mutual funds.
CBDT Clarifies Form 61 Filing Process for Transactions With Notified Jurisdictional Areas Under IT Act, 2025
29 May 2026 at 09:37CBDT has clarified the rules relating to Form 61 under the Income Tax Act, 2025. Know who must file Form 61, due date, documents required, e-verification process and consequences of non-filing for deduction claims linked to notified jurisdictional areas.
Form 52 Mandatory for APA Holders Under Income Tax Act, 2025
29 May 2026 at 09:28CBDT has introduced Form 52 under the Income-tax Act, 2025 for Advance Pricing Agreement (APA) compliance reporting. Check applicability, filing deadline, mandatory requirements, and major changes from old Form 3CEF.
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