CAclubindia News
Social Protection Fund Notified as Specified Person Under IT Act 2025 for Tax-Exempt Investments in India
16 July 2026 at 09:45CBDT has notified Oman’s Social Protection Fund as a specified person under the Income-tax Act, 2025, allowing tax exemption on eligible investments in India until 31 March 2030, subject to compliance conditions.
Centre Revises Excise Duty Rates on Petrol and Diesel Components; Changes Effective from 16th July 2026
16 July 2026 at 09:40Ministry of Finance revises central excise duty rates on petrol and diesel through Notifications 38/2026 and 39/2026-Central Excise. New rates effective from 16 July 2026 may impact fuel taxation and pricing.
CBDT Notifies Cost Inflation Index (CII) for FY 2026-27 Under Income Tax Act, 2025
16 July 2026 at 09:38The Central Board of Direct Taxes (CBDT) has officially notified the Cost Inflation Index (CII) for the Financial Year 2026-27 at 384, providing clarity for taxpayers and professionals dealing with capital gains computations under the new Income-tax
ICAI Keeps Global Networking Guidelines 2025 in Abeyance Until Further Orders
16 July 2026 at 09:27ICAI has kept the implementation of the Global Networking Guidelines, 2025 in abeyance until further orders. Read the official announcement and its implications for CA firms.
Direct Tax Collections Rise 16.4% to Rs 6.51 Lakh Crore as on 13th July 2026 for FY 2026-27
15 July 2026 at 09:26Net direct tax collections for FY 2026-27 rose 16.4% to Rs 6.51 lakh crore as of July 13, 2026, while gross collections increased 16.1%, according to official data.
Finance Ministry Empowers DRAT Delhi Chairperson to Decide PNB Appeals
15 July 2026 at 09:19Finance Ministry issues notification authorising the DRAT Delhi Chairperson to decide key Punjab National Bank appeals and connected proceedings.
MSME-MCA Internship Claim False: PIB Advises Citizens Not to Share Personal Information
14 July 2026 at 09:30PIB Fact Check has clarified that a viral Google Form claiming to offer an MSME and MCA-approved internship for doctors and professionals is fake. Citizens are advised not to share personal information on unverified platforms.
FM Sitharaman Reviews RBI Swap Schemes; Banks Report Strong NRI Response to FCNR(B) Deposits
14 July 2026 at 09:25Finance Minister Nirmala Sitharaman reviewed RBI's FCNR(B), ECB and OFCB swap schemes. Banks reported strong NRI participation, rising foreign currency inflows, and growing use of GIFT City for global fund mobilisation.
Over 1.7 Crore Taxpayers Filed ITRs for AY 2026-27
13 July 2026 at 09:36More than 1.7 crore taxpayers have already filed their ITRs for AY 2026-27, with over 10 lakh returns submitted in a single day. File your ITR-1 or ITR-2 before the July 31, 2026 deadline and avoid the last-minute rush.
CBIC Allows Extension Beyond 2-Year Limit Under Customs Notification 8/2016
13 July 2026 at 09:24CBIC Notification 28/2026-Customs empowers the Board to extend the two-year period prescribed under Notification 8/2016-Customs in cases where sufficient cause is shown.
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