CAclubindia News
CBDT Expands Rule 21AK: FPIs in IFSCs Now Eligible for Tax Exemptions
29 July 2025 at 08:51The Central Board of Direct Taxes has notified the Twentieth Amendment to the Income-tax Rules, 1962, expanding Rule 21AK to include over-the-counter derivatives and foreign portfolio investors in IFSCs. Effective from July 28, 2025.
Centre Notifies Amendment to General Insurance Pension Scheme, Extends Benefits to Executive Directors
29 July 2025 at 08:45The Ministry of Finance notifies the General Insurance (Employees’) Pension (Amendment) Scheme, 2025, extending pension benefits to Executive Directors of public sector general insurance companies, effective retrospectively from December 21, 2023.
98,995 MSME Loans Sanctioned Under New Digital Credit Assessment Model
29 July 2025 at 08:41India introduces a Digital Credit Assessment Model for MSMEs, enabling faster, fully digital loan approvals by leveraging real-time data and reducing paperwork. Over 98,000 MSME loans sanctioned under the new model since April 2025.
India Records Over Rs 12,000 Lakh Crore in Digital Payments Across 65,000 Crore Transactions in 6 Years
29 July 2025 at 08:38India has recorded over 65,000 crore digital transactions worth more than Rs 12,000 lakh crore in the last 6 financial years, driven by UPI, government initiatives, and RBI-backed infrastructure
Businesswoman Arrested for Rs 100 Crore GST Fraud Involving 27 Shell Firms
28 July 2025 at 09:17The DGGI Bhubaneswar has uncovered a Rs 100 crore GST fraud involving 27 fake firms operated by a Rourkela businesswoman. She was arrested after fake input tax credit claims and bogus transactions across states were exposed.
Income Tax Bill 2025 Took 60,000 Man-Hours to Draft, Says FM Nirmala Sitharaman
28 July 2025 at 09:13Finance Minister Nirmala Sitharaman reveals Income Tax Bill 2025 took 60,000 man-hours to draft. The bill simplifies tax laws, modernizes the 1961 Act and stresses timely implementation and taxpayer trust.
CBDT Chairman: Work Underway on Rules and Forms for Income Tax Bill 2025
28 July 2025 at 09:09CBDT Chairman Ravi Agarwal says work is underway to frame rules and forms under the Income Tax Bill 2025. The new framework will prioritize clarity, simplicity and voluntary compliance.
Income Tax Bill 2025 Aims to Simplify Language, Cut Litigation and Consolidate TDS Provisions: MP PP Chaudhary
28 July 2025 at 09:04The Income Tax Bill 2025 aims to simplify tax laws, reduce litigation, and consolidate TDS provisions, says MP PP Chaudhary. The bill replaces the 1961 Act with fewer words and clearer language.
Pay Tax and Relax: IRS Chief Vikram Sahay at Sopore Income Tax Awareness Event
28 July 2025 at 08:54As part of Income Tax Day celebrations, the Income Tax Department Srinagar conducted a tax awareness programme in Sopore, led by Chief Commissioner Vikram Sahay, to promote compliance and taxpayer confidence.
Rajasthan Labourer Discovers Rs 18 Crore Fake Firm in His Name, Rs 3 Crore GST Fraud Uncovered
28 July 2025 at 08:49A Rajasthan labourer discovers an Rs 18 crore fake firm registered in his name in Delhi, exposing a GST fraud of over Rs 3 crore. Police and tax officials launch a probe into the shocking identity theft case.
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