CAclubindia News
CBDT Sets Aggressive Rs 2.4 Lakh Crore Target to Unearth Black Money in FY 2025-26
29 April 2025 at 08:52In a bold move to curb black money and strengthen the formal economy, the CBDT has unveiled an aggressive action plan for the fiscal year 2025-26.
Commercial Taxes Inspector Arrested for Rs 20 Lakh Bribe in Paan Masala Smuggling
28 April 2025 at 08:33In a major crackdown on corruption, the Lokayukta police arrested a commercial taxes department inspector, Nijanandamurthy M.R., for allegedly accepting a ₹20 lakh bribe to facilitate the illegal transportation of paan masala consignments into Bengal
RBI Revises FEMA Compounding Rules: Penalty Capped at Rs 2 Lakh
28 April 2025 at 08:33RBI has introduced a key amendment to its compounding framework under the Foreign Exchange Management Act (FEMA), 1999. As per A.P. (DIR Series) Circular No. 04/2025-26
Faceless IT Scheme Sabotage: CBI Arrests Senior IRS Officer, Private Individual
26 April 2025 at 09:00CBI arrests two accused including an IRS Officer and a private person on allegations of involvement in sabotaging the Faceless Scheme of Income Tax Assessment
Direct Tax Collections Rise 13.57% in FY 2024-25
26 April 2025 at 08:57Direct tax collections for the financial year 2024-25 have recorded a significant upswing, with net collections reaching Rs 22.26 lakh crore as of March 31, 2025, according to provisional data released by CBDT
CBIC Assigns Customs Authorities to Adjudicate High-Profile Show Cause Notices Involving Top Companies
26 April 2025 at 08:55CBIC has issued Notification No. 29/2025-Customs (N.T.) dated 24th April 2025, delegating adjudication powers to various commissioners within the Mumbai Customs Zones I to III.
Finance Ministry Includes I4C Under PMLA to Fight Money Laundering Linked to Cybercrime
26 April 2025 at 08:52Ministry of Finance has notified the inclusion of the Indian Cyber Crime Coordination Centre (I4C) under the list of agencies authorized to receive information under the PMLA 2002.
College Girl Gets GST Notice Over Rs 35 Crore Deposited in Her Account
26 April 2025 at 08:49In a shocking revelation, a massive GST scam involving a Mumbai college girl has come to light after she received a notice from the GST department over Rs 35 crore in bogus transactions.
CBDT Clarifies Disallowance of Legal Settlement Expenses under Section 37 via FAQs
25 April 2025 at 08:56CBDT issues FAQs on Notification No. 38/2025 clarifying that expenses incurred to settle proceedings under SEBI, Competition, and Depositories laws will not qualify for tax deductions under Section 37 of the Income-tax Act from AY 2025-26 onwards.
CBIC Waives Transshipment Application Fees for Imported Goods Across All Customs Stations
25 April 2025 at 08:52The Central Board of Indirect Taxes and Customs (CBIC) notifies a key amendment to the Goods Imported (Conditions of Transshipment) Regulations, 1995, eliminating fees for transshipment applications with effect from April 24, 2025.
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