CAclubindia News
Income Tax Department Releases Common Offline Utilities for ITR-1 and ITR-4 for AY 2025-26
12 June 2025 at 09:03The Income Tax Department has released the Common Offline Utility (COU) for filing Income Tax Returns (ITR-1 and ITR-4) for the Assessment Year 2025-26
Sikkim-Based Units Under CGST Scanner for Rs 1,032 Crore GST Refund Irregularities
11 June 2025 at 09:24Several manufacturing units in Sikkim have come under the scanner of the CGST department for allegedly misusing the Scheme of Budgetary Support, 2017
Centre Mulls Tax Relief for Banks on NPA Interest Income
11 June 2025 at 09:20The Indian government is currently reviewing a proposal to amend the Income Tax Act to align the definition of NPAs with that of the RBI - a move that could significantly ease tax burdens for banks and financial institutions.
Income Tax Department Cracks Down on Dubious Political Donation Claims Under Section 80GGC
11 June 2025 at 09:18The Income Tax Department, in a bid to curb misuse of tax deductions on political donations, has intensified scrutiny of claims made under Section 80GGC of the Income Tax Act
CBIC Clarifies HSN Code Rule: Mandatory for B2B, Optional for B2C Below Rs 5 Crore Turnover
11 June 2025 at 09:14The Central Board of Indirect Taxes and Customs (CBIC) has issued a crucial clarification via its official X handle regarding the applicability of HSN codes in Table 12 of GSTR-1.
ICAI Releases Schedule for CA Intermediate Mock Test Papers Series I & II for September 2025 Exams
11 June 2025 at 09:10ICAI, through its Board of Studies (Academic), has officially announced the commencement of Mock Test Papers (MTP) Series - I and II for students appearing in the CA Intermediate September 2025 Examinations.
GST Portal Resolves Validation Issue for QRMP Taxpayers Filing Refund Applications
10 June 2025 at 15:46In a significant update for taxpayers under the Quarterly Return Monthly Payment (QRMP) scheme, the GSTN has resolved a system-level validation issue that previously hindered refund application filings on the GST Portal.
GSTN Clarifies Only B2B Section of Table-12 in GSTR-1 Is Validated
10 June 2025 at 09:25GSTN has clarified that, under the currently implemented system design, validation of values in Table-12 of GSTR-1 which relates to HSN-wise summary of outward supplies, is mandatory only for B2B transactions.
CBDT Allows Processing of Pending ITRs for AY 2023-24 Till 30th November 2025
10 June 2025 at 09:22CBDT has issued a directive under Section 119(2)(a) of the Income-tax Act, 1961, allowing the processing of valid electronically filed ITRs for AY 2023-24, even where the original time limit to issue intimation under Section 143(1) has already expired.
CBIC Clarifies DIN Not Mandatory for GST Portal Communications with RFN
10 June 2025 at 09:18The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification stating that communications generated via the GST common portal bearing a Reference Number (RFN) do not require a separate Document Identification Number (DIN).
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