CAclubindia News
Finance Ministry: Only 8 PMLA Cases Convicted Out of 5,892 ED Investigations
02 August 2025 at 09:19Finance Ministry reveals that out of 5,892 money laundering cases probed by ED since January 2015, only 8 convictions have been secured. The data was shared in response to a Rajya Sabha query by TMC MP Saket Gokhale.
Finance Ministry Notifies 0.1% Concessional Guarantee Fee for NaBFID
02 August 2025 at 09:13The Finance Ministry has notified a concessional 0.1% guarantee fee for NaBFID’s foreign borrowings, aiming to support its long-term infrastructure financing goals. Notification follows global credit ratings from Moody’s and Fitch.
ICSI Calls for Recognition of Company Secretaries as 'Accountants' Under Income Tax Bill
02 August 2025 at 09:05The Institute of Company Secretaries of India (ICSI) urges the government to recognise CS professionals as accountants and calls for a comprehensive overhaul of taxation laws
GST Fraud: Rs 9 Crore Fake ITC Racket Busted in Mumbai Zone
02 August 2025 at 08:55The CGST & Central Excise Raigad Commissionerate arrested two individuals for fraudulently availing Rs 9 crore Input Tax Credit using shell firms in New Panvel, Mumbai Zone. The probe continues to trace other beneficiaries.
RBI Says 98.31% of Rs 2000 Notes Returned to Banks as of July 31, 2025
02 August 2025 at 08:50RBI reports that RS 2000 banknotes in circulation have declined from Rs 3.56 lakh crore to Rs 6,017 crore as of July 31, 2025 marking a 98.31% return rate. Rs 2000 notes remain legal tender.
GST Collection Hits Rs 1.96 Lakh Crore in July 2025, Rises 7.5% YoY
02 August 2025 at 08:44India's gross GST revenue for July 2025 surged 7.5% YoY to Rs 1.96 lakh crore, driven by strong growth in IGST and SGST. Net revenue after refunds stood at Rs 1.68 lakh crore. Check state-wise performance and key highlights.
CBI Arrests Income Tax Inspector and Middleman in Rs 70,000 Bribery Case in Vijayawada
01 August 2025 at 09:33The CBI has arrested an Income Tax Inspector in Vijayawada and a middleman for accepting a Rs 70,000 bribe from a businessman in Eluru to suppress departmental action. A trap was laid following a complaint, and both accused are now in custody.
ICAI Warns of Action Against CAs Violating New Tax Audit Limits
01 August 2025 at 09:31ICAI will implement a mandatory tax audit cap of 60 per partner from April 2026. Violators may face disciplinary action. ICAI also partners with IVCA and NSE arm, launches international ADR centre.
75 Year Old Senior Citizen Gets IT Notice for AY 2014
01 August 2025 at 09:1775-year-old receives an IT demand for AY 2014. Can old tax returns be reopened? Understand reassessment rules under Section 148, documentation tips and senior citizen support options.
Income Tax Department Targets Jewellery Sector Over Misuse of Inventory Valuation Rules
01 August 2025 at 09:08The Income Tax Department has uncovered cases of jewellers using the LIFO method, banned under ICDS II to undervalue closing stock and evade taxes amid skyrocketing gold prices. Investigations are underway.
Popular News
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