CAclubindia News

ICAI Reconstitutes Expert Panel to Address Statutory Audit Queries pertaining to Auditing Aspects

12 July 2025 at 08:47

ICAI's Auditing and Assurance Standards Board has reconstituted its Expert Panel to address members' statutory audit queries for the 2025 audit season. The panel will offer technical guidance from 11th July to 30th September 2025.

Posted in Audit | 1617 Views

Income Tax Department Releases Excel Utilities for ITR-2 and ITR-3 for AY 2025-26

11 July 2025 at 10:34

The Central Board of Direct Taxes (CBDT) has released the Excel-based offline utilities for Income Tax Return (ITR) Forms 2 and 3 for the Assessment Year (AY) 2025-26.

Posted in Income Tax | 1413 Views

GST Fake Invoicing Scam Worth Rs 10.76 Crore Exposed in Rae Bareli

11 July 2025 at 09:48

Sadar Kotwali police in Rae Bareli arrest two men linked to a Rs 10.76 crore GST evasion case involving fake firms and bogus invoicing. The accused confessed to operating under a larger money laundering syndicate.

Posted in GST | 672 Views

CBDT Collects Rs 20,000 Crore in Q1 FY2025, Doubles Previous Year's Recovery

11 July 2025 at 09:40

The CBDT has collected Rs 20,000 crore in pending tax dues in Q1 of FY2025, doubling last year's figures. With a Rs 1.96 lakh crore target, recovery efforts are set to intensify.

Posted in Income Tax | 1989 Views

GSTAT Launches Comprehensive User Manual for Online Filing of Appeals and Applications

11 July 2025 at 09:26

GSTAT has released User Manual Version 2.6 to support taxpayers, officials, and legal representatives in using its upgraded e-Filing portal. The guide simplifies online registration, appeal filing, application re-filing, and document uploads.

Posted in GST | 2187 Views

ICAI Invites Chapter-Wise Feedback on CA Study Material for Foundation, Intermediate & Final Courses

11 July 2025 at 08:59

ICAI invites chapter-wise feedback on CA Study Material for Foundation, Intermediate, and Final levels. Submit suggestions by July 18, 2025, to help enhance the quality of ICAI's academic content.

Posted in Students | 17016 Views

PIB Warns Against Fake e-PAN Card Emails. Income Tax Department Warns of Phishing Scam

10 July 2025 at 09:21

PIB warns users against fake e-PAN card emails flagged as phishing scams. The Income Tax Department confirms it never requests personal info via email. Learn how to stay safe and report such fraud.

Posted in Income Tax | 1542 Views

ED Files Chargesheet in Rs 734 Crore GST ITC Fraud Case

10 July 2025 at 09:07

ED files chargesheet in Rs 734 crore GST fraud case involving 135 shell companies. Four masterminds behind fake ITC racket arrested and assets worth Rs 14.9 crore attached.

Posted in GST | 24594 Views

GST Scam: Two Booked for Rs 17 Crore Tax Evasion Using Shell Companies

10 July 2025 at 09:00

Two men booked in Prayagraj for Rs 17 crore GST fraud. SGST officials expose shell companies, fake electricity bills and illegal ITC claims.

Posted in GST | 1800 Views

Ministry of Finance Notifies IREDA Bonds as Long-Term Specified Asset Under Section 54EC of IT Act

10 July 2025 at 08:56

The Ministry of Finance has notified bonds issued by the Indian Renewable Energy Development Agency (IREDA) as 'long-term specified assets' under Section 54EC of the Income-tax Act, 1961.

Posted in Income Tax | 390 Views