CAclubindia News

Gross Direct Tax Collection Rises 4.86% in FY26 Despite Surge in Refunds

23 June 2025 at 09:16

While gross collections surged by 4.86%, reaching Rs 5.45 lakh crore, a significant rise in refunds-up by 58.04%-brought down the net collections.

Posted in Income Tax | 999 Views

CBDT Reviews Status of Follow-Up Actions Under Exchange of Information Framework

23 June 2025 at 09:13

Some media reports have suggested that money deposited in bank accounts of Indian entities in Switzerland has increased. It is reported that the data pertains to different types of funds, including deposits from enterprises, banks and individuals.In

Posted in Income Tax | 216 Views

MCA Allows Separate Filing of e-Form CSR-2 on V3 Portal After Transition from MCA21 V2 to V3

23 June 2025 at 09:11

The Ministry of Corporate Affairs (MCA) has issued General Circular No. 02/2025 announcing the transition from MCA21 Version 2 (V2) to Version 3 (V3) for annual filing forms and related e-forms.

Posted in Corporate Law | 1 comments | 3603 Views

Income Tax Dept Uncovers Rs 29,208 Crore in Undisclosed Foreign Assets via Belated Returns

23 June 2025 at 09:09

The Income Tax Department identifies Rs 29,208 crore in foreign assets through belated returns for AY 2024-25. CBDT intensifies scrutiny using global data-sharing mechanisms amid spike in Indian deposits in Swiss banks.

Posted in Income Tax | 1692 Views

Tragic Death of a Young Chartered Accountant Highlights Mental Health Crisis Among Professionals

21 June 2025 at 16:34

A 28-year-old Chartered Accountant employed at a private company in Hyderabad tragically died by suicide at a local hotel on Tuesday night, according to police sources.

Posted in Professional Resource | 1 comments | 6351 Views

Senior Citizens Welfare Fund Deposits to Earn 3.35% Interest for FY 2024-25

21 June 2025 at 07:57

The Ministry of Finance has announced that deposits made under the Senior Citizens Welfare Fund (SCWF) will earn 3.35% interest for the financial year 2024-25. The interest rate will apply retrospectively from April 1, 2024, to March 31, 2025.

Posted in Income Tax | 975 Views

TDS Exemption for IFSC Units Under Section 80LA Effective July 1, 2025

21 June 2025 at 07:56

In a major relief aimed at bolstering India's International Financial Services Centres (IFSCs), the Central Government has issued a notification exempting TDS on certain payments made to units operating in IFSCs

Posted in Income Tax | 1518 Views

FM Sitharaman Urges CBIC to Simplify GST Registration, Expedite Grievance Redressal

21 June 2025 at 07:24

Union Finance Minister Reviews CBIC Performance; Emphasizes Trade Facilitation and Taxpayer Services

Posted in GST | 1692 Views

State GST Dept Arrests Businessman for Rs 25 Crore Fake ITC Scam

21 June 2025 at 06:49

The Assam State GST (AGST) Department has arrested Ishak Ahmed, Director of Khushi Digital Payment Private Limited, for allegedly evading taxes worth Rs 25 crore through fake billing and fraudulent Input Tax Credit

Posted in GST | 411 Views

ICAI Announces GCC Summit Series to Strengthen India's Global Leadership in Financial Services

21 June 2025 at 06:44

ICAI Launches Nationwide GCC Summit Series - New Delhi, Ahmedabad (GIFT City), Mumbai and Hyderabad

Posted in Professional Resource | 210 Views