CAclubindia News

CBDT Expands Capital Gains Account Scheme: 19 More Banks Authorised Nationwide

20 November 2025 at 09:27

The Central Government has authorised all non-rural branches of 19 major banks including HDFC, ICICI, Axis, Kotak and Bandhan Bank to operate the Capital Gains Account Scheme (CGAS), 1988, easing access for taxpayers seeking capital gains tax exemptions.

Posted in Income Tax | 3894 Views

GST Cut Impact Limited as Apparel and Footwear Sales Decline in September Quarter

20 November 2025 at 09:21

Despite GST cuts on apparel and footwear, India’'s festive sales remained muted as early Diwali, weak discretionary spending and GST transition delays hurt demand across retailers.

Posted in GST | 306 Views

Unclaimed Money Awareness Drive: Key Camps Scheduled in Mumbai on November 21

20 November 2025 at 09:11

Maharashtra's SLBC will hold special camps on Nov 21 in Mumbai City and Suburban to help citizens verify and claim unclaimed deposits, shares, insurance, and other inactive financial assets.

Posted in Income Tax | 138 Views

India's Q2 GDP Growth Set to Exceed 7.5% on Festive Consumption Boost: SBI Research

20 November 2025 at 06:42

India's Q2 GDP may exceed 7.5% driven by GST rate cut, festive consumption, and strong rural and services demand, says SBI Research, projecting robust near-term growth.

Posted in GST | 855 Views

Three Businessmen Held in Maharashtra for Bogus ITC Claims Worth Over Rs 180 Crore

19 November 2025 at 06:40

Maharashtra GST officials have arrested three businessmen in separate fake Input Tax Credit (ITC) scams totaling over Rs 180 crore, including frauds worth Rs 114 crore, Rs 56 crore, and Rs 10 crore.

Posted in GST | 474 Views

CBDT to Notify Simplified ITR Forms by January Ahead of New Income Tax Act Rollout

19 November 2025 at 06:40

The Income Tax Department will notify new simplified ITR forms by January 2025 under the Income Tax Act, 2025, set to take effect from April 1, 2026, to make tax compliance easier for taxpayers.

Posted in Income Tax | 1 comments | 1728 Views

Direct Tax Collections on Track for FY26, Assures CBDT Chairman Ravi Agrawal

19 November 2025 at 06:40

The government expects to achieve FY26 direct tax goals as collections hit Rs 12.92 lakh crore by November 10; refunds likely to be cleared by December.

Posted in Income Tax | 1317 Views

Income Tax Department Raids on Popular Hyderabad Eateries

19 November 2025 at 06:40

Income Tax officials raided Hyderabad's Pista House and Shahgouse Hotel, while the ED searched Al-Falah University in Delhi as part of a terror case probe.

Posted in Income Tax | 246 Views

ITR Refund Delay 2025: CBDT Flags High-Value Claims, Refunds Likely by December

18 November 2025 at 07:07

CBDT says high-value and red-flagged refund claims are causing delays this year. Refunds down 18% due to stricter scrutiny. Most refunds expected by December. Learn what taxpayers should do next.

Posted in Income Tax | 13329 Views

Mumbai Man Held for Rs 75 Lakh GST Fraud Using Forged Documents in Goa

18 November 2025 at 06:39

Bicholim police have arrested a Navi Mumbai resident for a Rs 75 lakh GST fraud involving fake registration under Green Agro Industries using forged documents.

Posted in GST | 225 Views