CAclubindia News

Ministry of Finance Notifies IREDA Bonds as Long-Term Specified Asset Under Section 54EC of IT Act

10 July 2025 at 08:56

The Ministry of Finance has notified bonds issued by the Indian Renewable Energy Development Agency (IREDA) as 'long-term specified assets' under Section 54EC of the Income-tax Act, 1961.

Posted in Income Tax | 462 Views

ICAI Moves Toward Lifting CA Advertising Ban for Global Competitiveness

10 July 2025 at 08:47

ICAI may lift its decades-old advertising ban on Chartered Accountants to help Indian CA firms compete globally in advisory and consulting services.

Posted in Professional Resource | 14181 Views

Chartered Accountant Arrested in Rs 750 Crore Fake Loan App Scam

09 July 2025 at 09:27

Uttarakhand Police arrested Chartered Accountant Abhishek Agarwal at Delhi Airport for masterminding a Rs 750 crore fake loan app scam with Chinese links. Read how the scam unfolded and what the investigation has revealed.

Posted in Professional Resource | 4593 Views

CBDT Mandates Aadhaar OTP for Email, Mobile & PAN Updates

09 July 2025 at 09:20

The Income Tax Department has made Aadhaar OTP mandatory for updating contact details and applying for a new PAN from July 1, 2025. Learn about the new rules, deadlines and their implications.

Posted in Income Tax | 11334 Views

ICAI Issues FAQs on Guidance Note on Financial Statements for Non-Corporate Entities

09 July 2025 at 09:10

ICAI has issued FAQs on Guidance Note for financial statements of non-corporate entities, effective April 1, 2024, introducing standardised formats, revised classifications, and exemptions for MSMEs.

Posted in Audit | 14448 Views

Finance Ministry Denies Inactive PM Jan Dhan Yojana Account Closure Directive

09 July 2025 at 08:56

Ministry of Finance, has strongly refuted media reports suggesting that it has instructed banks to close inactive accounts under the Pradhan Mantri Jan Dhan Yojana (PMJDY).

Posted in Community & General | 102 Views

ICAI Opens Empanelment for Observers for CA Exams in September 2025

09 July 2025 at 08:52

The Institute of Chartered Accountants of India (ICAI) has announced the empanelment of members to act as observers for the upcoming Chartered Accountants Examinations scheduled for September 2025.

Posted in Students | 18075 Views

Mumbai CA Dies by Suicide After Rs 3 Crore Blackmail Over Private Video

08 July 2025 at 17:49

A 32-year-old Chartered Accountant from Mumbai, Raj Leela More, died by suicide after allegedly being blackmailed and extorted of over Rs 3 crore through threats of leaking a private video.

Posted in Professional Resource | 1 comments | 5580 Views

Daily-Wage Labourer in Uttar Pradesh Receives Rs 9.3 Crore Tax Notice in Shocking GST Identity Fraud Case

08 July 2025 at 09:07

A daily-wage labourer from Lakhimpur Kheri district, Mohd Saeed, has received an income tax notice for Rs 9.3 crore turnover in the financial year 2020-21, despite having no involvement in any business activity.

Posted in GST | 2820 Views

Income Tax Refund Scam Busted: Indians Posing as Foreign Citizens to Evade Tax

08 July 2025 at 08:55

The Income Tax Department has uncovered a large-scale scam involving fraudulent refund claims by Indian taxpayers who falsely declared themselves as foreign citizens during IT return filing.

Posted in Income Tax | 3006 Views