CAclubindia News
CBDT Notifies Fresh Guidelines for Compulsory Scrutiny of Income Tax Returns for FY 2025-26
14 June 2025 at 14:26The Central Board of Direct Taxes (CBDT) has issued comprehensive guidelines for the compulsory selection of income tax returns (ITRs) for complete scrutiny during Financial Year 2025-26.
CBDT Issues Notices Over Crypto Tax Evasion: Section 115BBH Violations Under Scanner
14 June 2025 at 09:24The Central Board of Direct Taxes (CBDT) has intensified its scrutiny of cryptocurrency-linked tax evasion and income laundering, with a new data-driven initiative targeting individuals and entities engaged in Virtual Digital Asset (VDA) transactions
No MDR on UPI Transactions: Finance Ministry Dismisses Media Reports as Baseless and Misleading
14 June 2025 at 09:20The Union Finance Ministry has strongly denied reports suggesting that the government is planning to impose a Merchant Discount Rate (MDR) on large-value Unified Payments Interface (UPI) transactions
Iron Trader Arrested for Rs 26 Crore GST Fraud Involving 10 Fake Firms
14 June 2025 at 09:17The State Goods and Services Tax (SGST) department has arrested a 32-year-old iron trader from Raipur for orchestrating a massive fake input tax credit (ITC) scam, leading to a loss of Rs 26 crore to the exchequer.
Air India Crash: Tata Group's Rs 1 Crore Ex-Gratia Payment Likely Exempt from Income Tax
13 June 2025 at 10:48Tata Group offers Rs 1 crore compensation per victim's family after AI171 crash. Tax-exempt ex-gratia under Indian law. Nation mourns 242 lives lost.
RBI Issues Revised Guidelines for Inoperative Accounts and Unclaimed Bank Deposits
13 June 2025 at 09:23The Reserve Bank of India (RBI) has issued the Revised Instructions (Amendment), 2025 under the Inoperative Accounts/ Unclaimed Deposits in Banks guidelines.
FM Leads FSDC Meeting to Push for Refund of Unclaimed Deposits and Simplified KYC Norms
13 June 2025 at 09:20Union Finance Minister exhorts FSDC to further take proactive steps for seamless KYC processes across the financial sector to enhance user experience
CBDT Notifies Zero-Coupon Bond Issued by NABARD Worth Rs 19,500 Crore for Income Tax Purposes
13 June 2025 at 09:19CBDT has officially notified a zero-coupon bond issued by the National Bank for Agriculture and Rural Development (NABARD) under clause (48) of Section 2 of the Income-tax Act, 1961.
SPL-01/SPL-02 Filing Glitch: GSTN Issues Advisory for Taxpayers
13 June 2025 at 09:16Taxpayers filing amnesty applications via Form SPL-01/SPL-02 under Section 128A of the CGST Act are facing glitches on the GST Portal in auto-populating payment details. GSTN advises uploading payment proof manually for officer verification.
GSTN Issues Clarification on HSN Table 12 for B2C Supplies in GSTR-1 Filing
12 June 2025 at 09:22The Goods and Services Tax Network (GSTN) has issued an important clarification addressing challenges faced by taxpayers while filing GSTR-1 returns when they have only B2C supplies and are required to fill Table 12 (HSN Summary). The Clarification w
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