CAclubindia News
Cabinet approves Incentive scheme for promotion of low-value BHIM-UPI transactions (P2M)
20 March 2025 at 08:41The Union Cabinet chaired by the Prime Minister Shri Narendra Modi approved the 'Incentive Scheme for promotion of low-value BHIM-UPI transactions Person to Merchant (P2M)' for the financial year 2024-25
Over 9 Crore Taxpayers Filed ITR for FY 2025, 4.68 Lakh Report Income Above Rs 1 Crore
20 March 2025 at 08:36The latest data from the Income Tax Department reveals that more than 9 crore taxpayers have filed their income tax returns (ITR) as of February 28, 2025, for the financial year 2024-25.
Govt Launches Mutual Credit Guarantee Scheme for MSMEs with 60% Coverage on Loans Up to Rs 100 Crore
20 March 2025 at 08:36Mutual Credit Guarantee Scheme for MSMEs (MCGS- MSME) provides 60% guarantee for credit facility up to Rs.100 crore
Income Tax Bill 2025: Public Consultation Opens for Drafting New Rules & Forms
19 March 2025 at 08:56The Income Tax Bill, 2025 has been introduced in Parliament and is currently under examination by the Select Committee for detailed consideration.
Income Tax Department Releases Updated Excel-Based Utility for ITR-3 for AY 2024-25
19 March 2025 at 08:51The Income Tax Department has released an updated Excel-based utility for ITR-3, catering to individuals and Hindu Undivided Families (HUFs) who earn income from business or profession.
IBC Success: Rs 10 Lakh Crore Cleared with 28,818 Cases Resolved
19 March 2025 at 08:50The Insolvency and Bankruptcy Code (IBC) has played a pivotal role in resolving corporate distress, with as many as 40,943 applications filed under the law since its inception in 2016.
Ayodhya's Ram Janmabhoomi Trust Paid Rs 400 Crore in GST & Taxes Over 5 Years
19 March 2025 at 08:47The Shri Ram Janmabhoomi Teerth Kshetra Trust has contributed approximately Rs 400 crore in taxes to the government over the past five years, according to Trust Secretary Champat Rai.
Direct Tax Collections Reach Rs 21.27 Lakh Crore in FY 2024-25, Up 13.13% YoY
18 March 2025 at 08:51India's direct tax collections for the financial year 2024-25 have witnessed a robust year-on-year (YoY) growth of 13.13%, reaching ₹21.26 lakh crore in net collections as of March 16, 2025, according to data from the TINMIS.
CBDT Issues FAQs on Revised Guidelines for Compounding of Offences Under IT Act, 1961
18 March 2025 at 08:50CBDT has issued Circular No. 04/2025 dated March 17, 2025, providing Frequently Asked Questions (FAQs) on the revised guidelines for the Compounding of Offences under the Income Tax Act, 1961.
Income Tax Department Raids Sri Chaitanya Group Over Alleged Rs 230 Crore Tax Fraud
18 March 2025 at 08:49The Income Tax Department on Saturday wrapped up a five-day search operation on the Sri Chaitanya group of educational institutions, spanning Hyderabad, Vijayawada, Chennai, Bengaluru and Mumbai.
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