CAclubindia News

CBDT Notifies REC Ltd.'s Rs 5,000 Crore Zero Coupon Bond u/s 2(48) of IT Act

03 June 2025 at 09:18

The Ministry of Finance, Department of Revenue, CBDT, has issued Notification No. 52/2025 dated May 30, 2025, formally recognizing the "Ten Year Zero Coupon Bond" issued by REC Ltd. as a zero coupon bond under Clause (48) of Section 2

Posted in Income Tax | 894 Views

MCA to Launch 38 Final Company Forms on V3 Portal from July 14, 2025

02 June 2025 at 09:26

The Ministry of Corporate Affairs (MCA) is set to roll out the final set of 38 company e-forms on its upgraded V3 portal starting July 14, 2025, marking a major step forward in the government’s digital corporate governance initiatives.

Posted in Corporate Law | 3594 Views

Chartered Accountant Arrested for Accepting Rs 10 Lakh Bribe on Behalf of CGST Officer

02 June 2025 at 09:24

In a major anti-corruption move, the Punjab Vigilance Bureau has arrested a Chartered Accountant (CA), Gursewak Singh, red-handed while accepting a bribe of Rs 10 lakh.

Posted in GST | 2682 Views

Gross GST Revenue Jumps 16.4% in May 2025, Hits Rs 2.01 Lakh Crore Mark

02 June 2025 at 09:21

India's GST collections surged to Rs 2,01,050 crore in May 2025, marking a robust 16.4% year-on-year growth from Rs 1,72,739 crore in May 2024, according to provisional data released by the Ministry of Finance.

Posted in GST | 1494 Views

ICAI Embraces AI: Officers Equipped for Faster and Smarter Disciplinary Procedures

02 June 2025 at 09:18

ICAI has taken notable strides in integrating Artificial Intelligence into the professional development of Chartered Accountants.

Posted in Professional Resource | 1650 Views

FM Sitharaman Urges Tax Officials to Uphold Trust After GST Registration Complaint

31 May 2025 at 16:26

Union Finance Minister Nirmala Sitharaman on Saturday reiterated the responsibility of tax officials to serve taxpayers with "transparency and integrity," emphasizing the need for trust-building between the government and the public.

Posted in GST | 2970 Views

Indian Civil Accounts Service Rules, 2025 Released

31 May 2025 at 08:32

In a significant administrative reform, the Ministry of Finance (Department of Expenditure) has notified the Indian Civil Accounts Service (Group 'A') Rules, 2025, replacing the older 2006 rules.

Posted in Community & General | 1515 Views

CBDT Includes Sikkim in Section 80-IE Tax Deduction via Corrigendum

31 May 2025 at 08:32

CBDT, under the Ministry of Finance, has released a corrigendum to its earlier notification G.S.R. 290(E) dated May 6, 2025, introducing key amendments related to income tax return forms and deductions under Section 80-IE of the Income Tax Act, 1961.

Posted in Income Tax | 2382 Views

Rajnath Singh Calls UPI a 'Game-Changer', Hails GST as Model of National Integration at CII Business Summit 2025

31 May 2025 at 08:32

Defence Minister Rajnath Singh on Wednesday lauded India's digital and economic reforms, calling the UPI a "game-changer" and the GST a "model of national economic integration rooted in trust"

Posted in GST | 921 Views

Retired Central Govt Employees Can Now Claim Extra Pension Benefits Under UPS

31 May 2025 at 08:32

Retired Central Government NPS Subscribers with minimum 10 years of qualifying service can claim additional benefits under Unified Pension Scheme (UPS)

Posted in Community & General | 1179 Views