CAclubindia News

CBDT Issues Clarification on Waiver of Interest Under Sections 201(1A)(ii) and 206C(7) of Income Tax Act

02 July 2025 at 09:03

The Central Board of Direct Taxes (CBDT) has issued Circular No. 8/2025 dated July 1, 2025, to clarify key concerns raised by field officers regarding the waiver of interest under Sections 201(1A)(ii) and 206C(7) of the Income-tax Act, 1961

Posted in Income Tax | 11355 Views

RBI: Rs 6099 Crore Worth of Rs 2000 Notes Still in Circulation as of June 2025

02 July 2025 at 08:55

As of June 30, 2025, only Rs 6,099 crore worth of Rs 2000 notes remain in circulation, a dramatic decline from the Rs 3.56 lakh crore recorded on May 19, 2023.

Posted in Others | 123 Views

CBDT Notifies Cost Inflation Index for FY 2025-26 at 376

02 July 2025 at 08:50

The Central Board of Direct Taxes (CBDT), via Notification No. 70/2025 dated July 1, 2025, has officially notified the Cost Inflation Index (CII) for the Financial Year 2025-26 as "376".

Posted in Income Tax | 4653 Views

8 Years of GST: PM Modi Says Reform Boosted Ease of Doing Business for SMEs

02 July 2025 at 08:42

The Prime Minister Shri Narendra Modi has remarked that eight years since GST was introduced, it stands out as a landmark reform that has reshaped India's economic landscape.

Posted in GST | 138 Views

Gross GST Collections for June 2025 Rise 6.2% YoY to Rs 1.85 Lakh Crore

02 July 2025 at 08:39

India's gross Goods and Services Tax (GST) revenue collection for June 2025 stood at Rs 1,84,597 crore, marking a 6.2% year-on-year (YoY) increase from Rs 1,73,813 crore in June 2024, as per provisional data released by the Finance Ministry.

Posted in GST | 1692 Views

India to Launch First Nationwide Household Income Survey in 2026 to Tackle Inequality and Tax Gaps

01 July 2025 at 09:15

India will launch its first-ever nationwide Household Income Survey in February 2026, offering policymakers comprehensive and direct data on household earnings from salaries, agriculture, business, investments, and informal sector jobs.

Posted in Income Tax | 1653 Views

Rs 34 Crore GST Scam Busted in Madhya Pradesh

01 July 2025 at 09:11

The Madhya Pradesh Economic Offences Wing (EOW) has unearthed a massive ₹34 crore input tax credit (ITC) scam involving fake firms and fraudulent registrations.

Posted in GST | 324 Views

CA Day 2025: ICAI Charts a Bold Vision for India's Economic Future

01 July 2025 at 09:07

Celebrating the 77th CA Day, ICAI reaffirms its commitment to trust, integrity, MSME growth, global leadership, and building Viksit Bharat by 2047

Posted in Students | 3996 Views

ICAI Result 2025: CA Foundation, Intermediate & Final Exam Results to Be Declared Tomorrow

30 June 2025 at 16:33

The Institute of Chartered Accountants of India (ICAI) is likely to declare the results of the Chartered Accountants Final, Intermediate, and Foundation Examinations held in May 2025 on Sunday, July 6, 2025

Posted in Students | 1 comments | 5301 Views

Ravi Agrawal Reappointed as CBDT Chairman on Contract Basis Till June 2026

30 June 2025 at 09:13

The Appointments Committee of the Cabinet (ACC) has approved the re-appointment of Shri Ravi Agrawal, IRS (IT:88028), as the Chairman of the Central Board of Direct Taxes (CBDT).

Posted in Income Tax | 1710 Views