CAclubindia News

Finance Ministry Issues Corrigendum to Customs Notification 14/2026: Key Changes Explained

20 May 2026 at 09:29

The Ministry of Finance has issued a corrigendum to Customs Notification No. 14/2026, correcting tariff classifications and notification entries under the customs framework. Here are the key changes.

Posted in Custom | 1 comments | 675 Views

Centre Dismisses Claims of Temple Gold Monetisation Scheme Across India

20 May 2026 at 09:19

The Government of India has denied reports claiming temple gold will be monetised or used for strategic reserves. Officials called the rumours false and misleading.

Posted in Community & General | 1 comments | 1887 Views

GSTN Introduces Annexure-B Offline Utility for ITC Refund Applications

20 May 2026 at 09:15

GST refund filing process updated from May 2026. Taxpayers must now upload Annexure-B through the new offline utility for accumulated ITC refund claims on the GST portal.

Posted in GST | 1 comments | 4260 Views

ICAI Introduces UDIN Ceiling for Tax Audit Assignments from FY 2026-27

19 May 2026 at 09:39

ICAI has introduced a ceiling of 60 Tax Audit assignments per member for UDIN generation effective from April 1, 2026. Read the complete FAQs, applicable forms, counting rules, revised audit treatment and key compliance details.

Posted in Income Tax | 1 comments | 7638 Views

Form 35: New Tax Form for Offshore Banking Units Under IT Act 2025

19 May 2026 at 09:37

Form 35 under the Income Tax Act 2025 is mandatory for Offshore Banking Units and IFSC entities claiming deductions. Check eligibility, due date, filing process, required documents and FAQs.

Posted in Income Tax | 1 comments | 3261 Views

Centre Revises Excise Duty Rates on Petroleum Products Effective from May 16, 2026

19 May 2026 at 09:37

The Finance Ministry has revised central excise duty rates through Notification Nos. 22/2026 and 23/2026-Central Excise effective May 16, 2026. Check revised per litre rates, applicability and key implications.

Posted in Excise | 1 comments | 561 Views

Form 154 Filing Mandatory for Certain Non-Domiciled Individuals Before Leaving India

18 May 2026 at 09:16

The Income Tax Department has clarified the process for obtaining ITCC through Form 154 and Form 155 under Income Tax Rules 2026. Here's who must file, due dates, documents required and compliance rules for non-domiciled persons leaving India.

Posted in Income Tax | 1 comments | 2904 Views

No Foreign Travel Tax Planned: PM Modi Dismisses Viral Media Report

18 May 2026 at 09:16

PM Modi has dismissed reports claiming the government plans to impose a cess, tax or surcharge on foreign travel. He reiterated the govt's focus on Ease of Doing Business and Ease of Living, while the media outlet later withdrew the inaccurate report.

Posted in Income Tax | 1 comments | 2589 Views

Form No. 124 Under New Tax Rules: What Employees Must Submit to Reduce Salary TDS

18 May 2026 at 09:16

Learn everything about Form No. 124 under the Income-tax Act, 2025. Check FAQs on HRA, LTA, home loan interest, investment deductions, PAN requirement, online submission process and employee TDS benefits.

Posted in Income Tax | 1 comments | 4515 Views

Form 31 Under Income Tax Act 2025 Mandatory for Claiming Rent Deduction Without HRA

16 May 2026 at 10:34

Form 31 under the Income-tax Act, 2025 is mandatory for claiming deduction under Section 134 on rent paid without HRA. Check eligibility, due date, deduction limit, FAQs and filing details.

Posted in Income Tax | 1 comments | 2712 Views