CAclubindia News
GST Consultant Arrested for Rs 42.73 Crore Fake Invoice Scam
01 April 2025 at 08:45Officers of the Directorate General of GST Intelligence (DGGI), Visakhapatnam Zonal Unit, have arrested a GST consultant in Vijayawada for his involvement in a large-scale fake invoice racket amounting to Rs 42.73 crore.
CBI Books Five Hyderabad-Based Income Tax Officials, Chartered Accountant for Alleged Extortion
01 April 2025 at 08:45CBI has registered a case against five officials of the Income Tax department and a CA based in Hyderabad for allegedly extorting money from taxpayers in exchange for favorable treatment in their tax matters.
Egg Seller Shocked by Rs 6 Crore GST Notice for Non-Existent Business
31 March 2025 at 08:53In a bizarre and distressing case of identity theft, an egg seller in Madhya Pradesh has been served notices for Goods and Services Tax (GST) dues worth Rs 6 crore for a business he never knew existed.Prince Suman, a resident of Pathariya Nagar in Da
IPL Ticket Prices Spark Social Media Uproar Over 70% Tax Burden
31 March 2025 at 08:46A recent social media post has ignited a heated debate over the steep taxation on Indian Premier League (IPL) tickets, particularly after a Chennai Super Kings (CSK) vs Royal Challengers Bengaluru (RCB) match at Chennai's MA Chidambaram Stadium.
Finance Act 2025 Notified: Key Tax Reforms and Compliance Enhancements
31 March 2025 at 08:42The Government of India has officially notified the Finance Act 2025, following its passage in both houses of Parliament and the Presidential assent on March 29, 2025.
Income Tax Notices Sent to High-Rent Tenants for TDS Non-Compliance
29 March 2025 at 09:00The Income Tax Department has issued notices to taxpayers who have been paying monthly rent of Rs 50,000 or more but failed to deduct Tax Deducted at Source (TDS) before remitting the amount to their landlords, a tax expert revealed.
CBDT Amends Tax Audit Report (Form 3CD) with Key Changes Effective 1st April 2025
29 March 2025 at 08:56CBDT has notified the Income-tax (Eighth Amendment) Rules, 2025 via Notification No. 23/2025, introducing significant modifications to Form 3CD, the tax audit report required under Section 44AB of the Income-tax Act, 1961
CBDT Allows Waiver of Interest on Delayed TDS/TCS Payments Due to Technical Glitches
29 March 2025 at 08:53The Central Board of Direct Taxes (CBDT) has issued Circular No. 05/2025, providing relief to taxpayers facing interest levies under Section 201(1A)(ii) and Section 206C(7) of the Income-tax Act, 1961.
Income Tax Department Updates Excel Based Utilities for ITRs and Audit Forms
29 March 2025 at 08:35The Income Tax Department has released the latest versions of Excel-based utilities and schemas for various Income Tax Returns (ITR) and audit report forms.
Finance Ministry Rules Out Abolishing LTCG Tax Amid Market Volatility
29 March 2025 at 08:34In a significant announcement, the Finance Ministry has categorically ruled out any plans to abolish the Long-Term Capital Gains (LTCG) tax, despite recent market downturns that saw investors losing over Rs 74 lakh crore.
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