CAclubindia News

Finance Ministry Pushes 100% FDI in Insurance for Faster Sectoral Growth

31 July 2025 at 09:26

FM Sitharaman confirms 100% FDI in insurance to boost sector growth; government rules out any changes to crypto tax or GST on flex-fuel vehicles. Key updates also include smart meter progress, ADP fund allocation and GST collection trends.

Posted in Income Tax | 873 Views

Supreme Court to Conclude Hearings on Online Gaming GST Case

31 July 2025 at 09:17

The Supreme Court is set to conclude hearings on the online gaming GST dispute, deciding whether 28% GST applies retrospectively on the full value of bets, impacting companies like Dream11, Gameskraft, and MPL.

Posted in GST | 318 Views

Centre Notifies Concessional Guarantee Fee for Borrowings by Infrastructure Bank from Global Institutions

31 July 2025 at 09:11

The Ministry of Finance has notified a 0.1% concessional government guarantee fee for NaBFID borrowings from multilateral and foreign institutions, boosting access to low-cost funds for infrastructure development.

Posted in Others | 213 Views

Income Tax Department Releases Offline and Online Utility for ITR-3 Filing for AY 2025-26

31 July 2025 at 09:03

The Income Tax Department has released the offline and online utilities for ITR-3 filing for AY 2025-26. Taxpayers with income from business or profession can now file their returns using updated tools via the e-filing portal.

Posted in Income Tax | 132 Views

ICAI to Host Nationwide Convocation in August 2025 for New Members and Rank Holders

31 July 2025 at 08:50

ICAI will host its Convocation on 25th August 2025 across major cities to award Certificates of Membership/COP to new CAs enrolled between Jan 1 and July 15, 2025, and felicitate CA Final rank holders from Nov 2024 and May 2025 exams.

Posted in Students | 2403 Views

Death is Most Beautiful: CA Dies by Suicide in Delhi Airbnb Using Helium Bought for Rs 3500

30 July 2025 at 16:30

A 25-year-old Gurugram man, Dheeraj Kansal, died by suicide in a Delhi Airbnb flat after inhaling helium gas. His emotional Facebook note revealed years of inner turmoil and requested no one be blamed. Police are investigating.

Posted in Students | 5388 Views

Drunk CGST Clerk Sells Sensitive Tax Files as Scrap for Rs 5000 in Nagpur

30 July 2025 at 09:29

CGST clerk in Nagpur was caught stealing sensitive tax files and selling them as scrap for Rs 5,000. CCTV footage led to his suspension and a departmental inquiry, raising serious data security concerns.

Posted in GST | 4521 Views

18% GST Fixed on User Development Fees Charged by Airlines: Government Clarifies in Lok Sabha

30 July 2025 at 09:23

Government confirms 18% GST on User Development Fees collected by airlines, as clarified in Lok Sabha on July 28, 2025, following a query by MP Shri Matheswaran V S.

Posted in GST | 345 Views

Karnataka MP Raises Concerns Over Income Tax Act Amendments Impacting CA Services

30 July 2025 at 09:18

MP G. Kumar Naik has raised concerns that the proposed amendments to the Income Tax Act may negatively impact Chartered Accountants.

Posted in Income Tax | 393 Views

No Change in LTCG Tax Rates in Income Tax Bill 2025, Clarifies IT Department

30 July 2025 at 09:12

The IT Department has clarified that the Income Tax Bill, 2025 does not propose any changes to LTCG tax rates. The Bill focuses on simplifying language and removing obsolete provisions, with all ambiguities to be addressed during the legislative process.

Posted in Income Tax | 2025 Views