CAclubindia News

Draft Form No. 86 Proposed to Regulate Digital Records and Seized Assets Under New Tax Law

27 February 2026 at 06:48

The Income Tax Department has released Draft Form No. 86 under Section 248(1) of the Income Tax Act, 2025, detailing procedures for issuing a warrant of authorisation to requisition books, documents, digital records, and undisclosed assets.

Posted in Income Tax | 1 comments | 2832 Views

AI in Tax Orders Under Scanner as Gujarat High Court Flags Fake Case Laws

27 February 2026 at 06:48

The Gujarat High Court has issued notices to CGST authorities after an order allegedly relied on AI-generated and non-existent case laws. The court seeks guidelines for quasi-judicial officers on citing High Court and Supreme Court judgments.

Posted in GST | 1 comments | 2184 Views

Finance Ministry Notifies Aadhaar Authentication for CIBIL Credit Report Access

26 February 2026 at 09:20

The Finance Ministry has allowed TransUnion CIBIL to use Aadhaar authentication for credit report access. Aadhaar use is voluntary, and PAN, passport, voter ID and other documents remain valid alternatives.

Posted in Community & General | 1 comments | 762 Views

DGFT Extends Deadline for TRQ Applications Under Key FTAs for FY 2026-27

26 February 2026 at 08:40

DGFT extends TRQ application deadline to 15 March 2026 for FY 2026-27 under India-Sri Lanka FTA, India-Mercosur, and India-Mauritius CECPA, covering edible oils, spices, sugar, fish, apparel and beverages.

Posted in Community & General | 1 comments | 375 Views

TDS on Property, Rent & Virtual Digital Assets: Draft Form 141 Brings Detailed Reporting Norms

26 February 2026 at 08:40

The Income Tax Department releases Draft Form No. 141, a challan-cum-statement for TDS on rent, property transfers, professional payments and virtual digital assets.

Posted in Income Tax | 1 comments | 5628 Views

New Draft Form Introduced for Provisional Registration Under Income Tax Act, 2025

26 February 2026 at 08:40

Draft Form 104 mandates detailed disclosures, beneficial ownership reporting, and document submissions for non-profit organisations seeking provisional registration.

Posted in Income Tax | 1 comments | 7629 Views

ICAI to implement 11 ISAS to Strengthen Digital Audits

26 February 2026 at 08:40

The Institute of Chartered Accountants of India (ICAI) introduces 11 Information Systems Audit Standards (ISAs) to enhance audit quality and strengthen governance within India's fast-growing digital ecosystem.

Posted in Audit | 1 comments | 2823 Views

MCA Launches Companies Compliance Facilitation Scheme 2026 with Major Relief on Late Filing Fees

25 February 2026 at 09:08

MCA introduces Companies Compliance Facilitation Scheme 2026 allowing companies to clear pending filings with just 10% additional fees. Scheme open till July 15, 2026.

Posted in Corporate Law | 1 comments | 6033 Views

Fake GST Officials Rob Rs 2.4 Crore Gold in Chennai

25 February 2026 at 08:54

Two men, including a courier employee, were arrested in Chennai for impersonating GST officials and stealing 1.5kg gold jewellery worth Rs 2.4 crore near Guindy flyover. Full details here.

Posted in GST | 1 comments | 525 Views

Rs 590 Crore IDFC First Bank Fraud: Full Timeline, Govt Funds Recovery, Market Impact Explained

25 February 2026 at 08:54

IDFC First Bank faces scrutiny after a Rs 590 crore fraud linked to Haryana government accounts. Here's the timeline, investigation updates and market impact.

Posted in Community & General | 1 comments | 2154 Views