CAclubindia News
Black Money Act Under Review: Tax Department Examines Overlaps with Income Tax Law
15 October 2025 at 06:30Government reviews Black Money Act; committee to assess harsh penalties, legal overlaps with the Income Tax Act, and challenges in enforcement.
Income Tax Refunds Fall Sharply Amid New Fraud Detection Checks by the Tax Department
15 October 2025 at 06:30Income tax refunds drop 16% as the government tightens fraud detection checks; taxpayers face longer verification for high-value claims.
Fake GST Firm in Lucknow Caught Misusing Rs 2.11 Crore ITC
15 October 2025 at 06:30Uttar Pradesh State Tax Department has uncovered a fake firm, M/s Kumar Service, in Lucknow that fraudulently claimed Rs 2.11 crore Input Tax Credit using forged documents.
GST Exemption on Life Insurance Premiums May Cap Insurer Profits Despite Rising Sales
15 October 2025 at 06:30The recent GST exemption on life insurance premiums may limit insurers' Q2 profits despite a 14.8% rise in new business premiums in September 2025.
Bombay High Court Grants Interim Stay on 18% GST for Hotel Restaurants
15 October 2025 at 06:30The Bombay High Court has granted an interim stay on the 18% GST rate for restaurants inside premium hotels, challenging the tax disparity with standalone eateries taxed at 5%.
Gujarat High Court Directs CBDT to Extend ITR Filing Deadline for Audit Cases by One Month
14 October 2025 at 07:23Gujarat High Court directs CBDT to extend ITR filing deadline for audit cases by one month, offering relief to taxpayers and professionals.
Income Tax Portal Update: Taxpayers Can Now See When AO or CIT(A) Reviews Their Submissions
14 October 2025 at 06:40Income Tax Dept updates e-filing portal: Track exactly when AO/CIT(A) views your submissions, enhancing transparency in faceless assessments & appeals.
ITAT Reduces Alleged Income of NRI by 97% After Dispute Over Rs 2.28 Crore
14 October 2025 at 06:40An NRI taxpayer successfully challenged the Income Tax Department after being wrongly assessed Rs 2.28 crore as unexplained income. ITAT Ahmedabad reduced the amount to just Rs 63,133.
ICAI Launches Handbook on Certificates by CAs: Comprehensive Checklist & Formats Released
14 October 2025 at 06:39ICAI releases a comprehensive Handbook for Chartered Accountants, featuring standard certificate formats, compliance checklists and practical guidance to strengthen audit and reporting practices.
GST Relief for Orthopaedically Disabled Car Buyers Discontinued from October 2025
14 October 2025 at 06:39The Ministry of Heavy Industries has withdrawn GST concession certificates for vehicle purchases by orthopaedically disabled persons, following a Finance Ministry clarification making the GST rate uniform at 18% for small cars across all buyers.
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