CAclubindia News

ICAI Invites Public Comments on Inclusion of "Forensic Investigation" in Chartered Accountants Regulations

03 July 2025 at 08:44

The Institute of Chartered Accountants of India (ICAI), through its Digital Accounting and Assurance Board, has invited public comments on proposed amendments to Regulation 204 of the Chartered Accountants Regulations, 1988.

Posted in Professional Resource | 1 comments | 1779 Views

Big Relief for NRIs: US Lowers Proposed Tax on Remittances to India from 5% to 1% in Revised Trump Bill

02 July 2025 at 09:09

In a major relief for Indian professionals working in the United States and Non-Resident Indians (NRIs) sending money back home, the revised draft of the One Big Beautiful Bill Act (OBBBA) has slashed the proposed tax rate on remittances to 1%

Posted in Income Tax | 1575 Views

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 | 11643 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 | 150 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 | 5436 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 | 150 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 | 2172 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 | 2049 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 | 456 Views