CAclubindia News
CBDT Detects Rs 630 Crore Undisclosed Income in Crypto Transactions
07 August 2025 at 09:11CBDT detects Rs 630 crore in undisclosed crypto income and sends over 44,000 compliance notices under its NUDGE campaign. Learn how the government is cracking down on cryptocurrency linked tax evasion.
Parliamentary Panel Urges Finance Ministry to Expedite GSTAT Bench Appointments Across India
07 August 2025 at 09:06A parliamentary panel has urged the Finance Ministry to adopt a time-bound plan to operationalise GSTAT benches nationwide, citing delays in member appointments and their impact on GST dispute resolution.
Parliamentary Panel Criticizes IT Dept for Not Segregating Business and Individual Income Under PIT
07 August 2025 at 09:03A parliamentary panel has criticised the Income Tax Department for refusing to segregate business and individual income under PIT, calling for a clear action plan to improve tax transparency and policy formulation.
Income Tax Bill 2025: No Exemption for Fast-Track Demergers, Startups May Suffer
07 August 2025 at 08:57Experts have criticised the Income-Tax Bill, 2025 for excluding fast-track demergers from tax-neutral treatment, warning that it contradicts ease of doing business and increases tax burden on startups and MSMEs.
Income Tax Department Detects Rs 30,444 Crore Undisclosed Income in FY25 Through 465 Surveys
07 August 2025 at 08:53In FY25, the Income Tax Department detected Rs 30,444 crore in undisclosed income through 465 surveys, Parliament was informed. Seizures and search operations also yielded assets worth over Rs 2,500 crore.
Over 91,000 GST Evasion & 44,000 ITC Fraud Cases Detected in 5 Years, Says Finance Ministry
06 August 2025 at 09:17The Finance Ministry informed Lok Sabha that while GST collections have largely met targets from FY21 to FY25, tax evasion cases surged to over 91,000, with Rs 7.08 lakh crore detected. Measures like e-invoicing and Project Anveshan aim to curb fraud.
GST on LIC Premiums: No Reduction Yet, GoM Seeks More Time
06 August 2025 at 09:03The Government is reviewing GST on LIC premiums, with no final decision yet. A Group of Ministers is evaluating the matter and their upcoming report may lead to possible tax relief for life insurance policyholders.
GST Council may Offer Amnesty to Small Vendors Flagged via UPI Data: Tax Commissioner
06 August 2025 at 08:50GST Council may grant amnesty from interest and penalties to small vendors flagged through UPI data, says Central Tax Commissioner Kotraswamy M.
Centre Appoints 31 Technical and 52 Judicial Members to GSTAT Across India
06 August 2025 at 08:41Govt of India appoints 83 members to GST Appellate Tribunal, aiming to fast-track GST dispute resolution and enhance judicial and technical expertise.
ICAI Signs MoU with IAGES to Strengthen Accreditation in the Gold Industry
06 August 2025 at 08:32The Institute of Chartered Accountants of India (ICAI) has inked an MoU with and Indian Association of Gold Excellence and Standards (IAGES) to implement a robust accreditation framework for value chain partners in the gold industry
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