CAclubindia News
Income Tax Rules 2026: Financial Institutions Must Report Crypto and Digital Currency Holdings
07 March 2026 at 06:57CBDT notifies the Income Tax (First Amendment) Rules, 2026 to expand reporting requirements under Rule 114F and 114G. The amendment brings crypto assets, electronic money products and central bank digital currency accounts under financial reporting norms.
ED Arrests Two CAs in Rs 641 Crore Cyber Fraud and Money Laundering Case Under PMLA
06 March 2026 at 09:14ED has arrested CAs Ashok Kumar Sharma and Bhaskar Yadav in a Rs 641 crore cyber fraud and money laundering case under the PMLA.
Charitable Trusts Oppose Mandatory Irrevocable Clause for Tax Exemption Registration
06 March 2026 at 08:11Charitable trusts and tax bodies move the Bombay High Court challenging the Income Tax Department’s insistence on an explicit 'irrevocable' clause in trust deeds for tax exemption registration.
Himachal CM Flags Rising Budget Pressure, Seeks Restoration of Revenue Deficit Grant
06 March 2026 at 08:11Himachal Pradesh warns of rising fiscal pressure after the Centre discontinues the Revenue Deficit Grant, with CM Sukhvinder Singh Sukhu urging FM Sitharaman to revise the Finance Commission formula and provide special financial support
BCAS Flags Concerns Over Finance Bill 2026 Proposals on SGB Taxation, Dividend Rules and TDS Norms
05 March 2026 at 06:56Bombay Chartered Accountants’ Society (BCAS) urges the Finance Ministry to reconsider proposed changes in the Finance Bill 2026 affecting Sovereign Gold Bonds, dividend taxation and TDS rules to protect investors and businesses.
GST Regime Has Eroded States' Financial Freedom: 7th State Finance Commission Chairman
05 March 2026 at 06:56K.N. Harilal says the GST regime and Centre's increasing reliance on cesses have weakened States' fiscal autonomy. Experts warn of an emerging fiscal crisis and stagnation in social security pensions.
New Draft Format for TDS/TCS Book Adjustment: Full Details, Applicability & Compliance Guide
04 March 2026 at 08:08Income Tax Department releases Draft Form No. 137 for TDS/TCS Book Adjustment Statement. Check structure, DDO reporting rules, compliance requirements, and key updates for Accounts Officers and Government departments.
ICAI Announces Direct Exam Centre Selection for CA May 2026 Exams
04 March 2026 at 08:08The Institute of Chartered Accountants of India (ICAI) has introduced a new facility allowing CA Final, Intermediate and Foundation students to directly select their preferred exam centre for the May 2026 examinations. Check complete details here.
Rahul Gandhi Demands Rollback of Tax on Disability Pensions, Seeks Higher ECHS Budget from FM Sitharaman
03 March 2026 at 07:19Rahul Gandhi writes to Finance Minister Nirmala Sitharaman seeking withdrawal of income tax on disability pensions under Finance Bill 2026 and immediate funding support for Ex-Servicemen Contributory Health Scheme (ECHS).
India's Real GDP Grows 7.6% in FY 2025-26 Under New Base Year Series Released by MoSPI
03 March 2026 at 07:19Ministry of Statistics and Programme Implementation (MoSPI) releases new GDP series with base year 2022-23, revising national accounts methodology. Real GDP growth for FY 2025-26 estimated at 7.6% with key sectoral and quarterly updates.
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