CAclubindia News
ICAI Celebrates Accounting Standards Day to Highlight Role of Standards in preparation of Financial Statements
08 May 2025 at 09:05The Institute of Chartered Accountants of India (ICAI), celebrated Accounting Standards Day (AS Day) on theme Navigating the Financial Reporting Landscape.
CBDT Notifies Revised ITR-V and Acknowledgement Forms for AY 2025-26
08 May 2025 at 09:04The Central Board of Direct Taxes (CBDT), under the Ministry of Finance, has notified the Income-tax (Seventeenth Amendment) Rules, 2025 via Notification No. 45/2025 dated May 7, 2025.
CBDT Notifies New ITR-6 Form for AY 2025-26
07 May 2025 at 17:31In a significant move aimed at streamlining corporate tax filings, the Central Board of Direct Taxes (CBDT) has notified the amended ITR-6 form applicable for companies for the Assessment Year (AY) 2025-26.
Income Tax Dept Targets Disposal of 2 Lakh Appeals Worth Rs 10 Lakh Crore in FY26
07 May 2025 at 09:04In a major push to expedite tax dispute resolution and unlock substantial revenue, the Income Tax Department has set a bold target of disposing over 200,000 appeals in FY26.
Finance Ministry Brings Key Payment Law Amendments into Force from 9th May 2025
07 May 2025 at 09:00The Ministry of Finance has officially notified that Sections 152 and 153 of the Finance Act, 2017, which amend the Payment and Settlement Systems Act, 2007, will come into force from May 9, 2025.
GSTN Defers Invoice-wise Reporting Functionality in GSTR-7 Due to Technical Glitches
07 May 2025 at 08:56In a recent update, the GSTN has announced a deferment in the implementation of the invoice-wise reporting functionality in Form GSTR-7, which was originally scheduled to go live for the return period starting April 2025.
CBDT Tightens Oversight on Top Advance Taxpayers to Boost FY26 Direct Tax Collection
06 May 2025 at 09:04With an ambitious direct tax collection target of Rs 25.2 trillion for FY 2025-26, the CBDT has directed income-tax officials to intensify scrutiny of top advance tax payers and root out bogus claims of exemptions and deductions.
IT Department Recovers Rs 1,400 Crore From 63,000 Donors Linked to Dubious Political Donations
06 May 2025 at 09:01Income Tax Department has recovered Rs 1,400 crore from over 63,000 individuals who evaded taxes by falsely claiming deductions for donations made to RUPPs during the financial years 2022-23 and 2023-24.
CBIC Directs GST Officers to Ensure Timely Record Submission to CAG Audit Teams
06 May 2025 at 08:58CBIC has issued a directive to all GST field formations across India, emphasizing the urgent need for timely submission of records and information to the Comptroller and Auditor General (C&AG) audit teams.
Finance Ministry Notifies Five NBFCs for Aadhaar-Based Authentication Under PMLA
06 May 2025 at 08:52The Ministry of Finance has authorized five NBFCs to conduct Aadhaar-based authentication under the PMLA, marking another step towards strengthening digital identity verification in the financial sector.
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