CAclubindia News

Income Tax Department Releases Updated Common Offline Utility & Schema for Form 3CA-3CD and 3CB-3CD Filings

18 July 2025 at 10:25

The Income Tax Department has released an updated version (1.4.0) of the common offline utility for filing Forms 3CA-3CD and 3CB-3CD under Section 44AB. Edge browser installation is mandatory for using the utility.

Posted in Income Tax | 270 Views

Income Tax Bill 2025: Parliamentary Panel Retains CA-Only Definition of 'Accountant'

18 July 2025 at 10:13

The Parliamentary Committee on the Income-Tax Bill, 2025, has upheld the definition of 'accountant' to include only Chartered Accountants, excluding cost accountants and company secretaries.

Posted in Income Tax | 2712 Views

Lok Sabha Select Committee Proposes Changes to Income Tax Bill, 2025

18 July 2025 at 09:24

The Select Committee of the 18th Lok Sabha has finalized the Income-Tax Bill, 2025, aiming to consolidate and reform India's direct tax structure.

Posted in Income Tax | 1854 Views

AI Detects Tax Evasion in Hyderabad Using Font Analysis of Forged Capital Gains Bills

18 July 2025 at 09:13

The Income Tax Department uses AI to detect a forged capital gains bill in Hyderabad. A Calibri font, not public in 2002, exposed the fraud.

Posted in Income Tax | 756 Views

ITR-2 Now Enabled for Online Filing with Prefilled Data on Income Tax Portal

18 July 2025 at 09:08

ITR-2 is now live for online filing with prefilled data on the Income Tax portal. Taxpayers can file seamlessly without uploading JSON files.

Posted in Income Tax | 477 Views

Revised Tax Audit Forms 3CA-3CD and 3CB-3CD Enabled on e-Filing Portal

18 July 2025 at 09:04

Revised Forms 3CA-3CD and 3CB-3CD Now Live on Income Tax e-Filing Portal Following Notification No. 23/2025

Posted in Income Tax | 1890 Views

Finance Ministry Notifies Amendments to Special Benami Courts in Raipur and Jaipur

18 July 2025 at 08:57

The Ministry of Finance has notified amendments to special courts under the Benami Property Act, 1988, updating designations in Raipur and Jaipur via Notification No. 117/2025 dated July 17, 2025.

Posted in Income Tax | 51 Views

GST System Set to Roll Out New Enhancements for Data Security and Transparency in ASP-GSP Access

18 July 2025 at 08:51

GST System to introduce enhanced security and transparency features, including OTP-based consent alerts and dashboard access to view and revoke ASP/GSP data access.

Posted in GST | 1095 Views

Parliamentary Panel Set to Adopt Report on New Income Tax Bill Ahead of Monsoon Session Push

17 July 2025 at 09:09

A Parliamentary Committee is set to adopt its report on the Income Tax Bill, 2025, ahead of the Monsoon Session. The Bill aims to replace the 1961 Act, simplify procedures, and unify the tax year concept. CBDT begins training for implementation by 2026.

Posted in Income Tax | 1 comments | 1692 Views

Income Tax Department Cracks Down on Bogus Refunds Claimed by MNC, PSU and Govt Employees

17 July 2025 at 08:54

Income Tax Department cracks down on fake tax refund claims by MNC, PSU, and govt employees. Large-scale verification exposes misuse of deductions under Sections 80D, 80G, 10(13A) and more. Refunds withheld; penalties and prosecutions begin.

Posted in Income Tax | 2421 Views