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CBDT Extends Due Date for Filing Form No. 56F for AY 2024-25

   19 February 2025 at 08:48

The Central Board of Direct Taxes (CBDT) has issued Circular No. 02/2025, extending the due date for filing Form No. 56F under the Income-tax Act, 1961.

Posted in Income Tax |   2898 Views


ICAI Releases Guidance Note on Audit of Banks - 2025 Edition

   19 February 2025 at 08:36

The Auditing and Assurance Standards Board (AASB) of the Institute of Chartered Accountants of India (ICAI) has released the Guidance Note on Audit of Banks (2025 Edition). This annual publication serves as a comprehensive resource for auditors condu

Posted in Audit |   2169 Views


CBIC Introduces Automated Refund System for Customs to Streamline Process and Cut Costs

   19 February 2025 at 08:36

The Central Board of Indirect Taxes and Customs (CBIC) has announced the implementation of an automated refund system for customs duty under Circular No. 05/2025-Customs, dated February 17, 2025.

Posted in GST |   1533 Views


Income Tax Bill 2025: IT Department Clarifies If Late ITR Filers Can Still Get Refunds

   19 February 2025 at 08:36

The recently introduced Income Tax Bill, 2025, in the Lok Sabha has sparked concerns among taxpayers regarding their eligibility for income tax refunds if they file their Income Tax Return (ITR) after the due date.

Posted in Income Tax |   5211 Views


FM Nirmala Sitharaman Applauds Indian Customs Role in Economic Growth & Trade Facilitation

   19 February 2025 at 08:36

Hon'ble Finance Minister Nirmala Sitharaman highlights Customs' role in Economic Security and Growth

Posted in Custom |   285 Views


Parliamentary Panel Questions MCA on NFRA's Performance, Budget Utilisation & Audit Oversight

   18 February 2025 at 08:53

The Standing Committee on Finance, chaired by BJP MP Bhartruhari Mahtab, has sought detailed written responses from the Ministry of Corporate Affairs (MCA) regarding the functioning of the National Financial Reporting Authority (NFRA)

Posted in Audit |   711 Views


Biometric Aadhaar Authentication for GST Registration Now Live in Jharkhand & Andaman & Nicobar

   18 February 2025 at 08:50

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Jharkhand and Andaman and Nicobar Islands

Posted in GST |   438 Views


ICAI Invites Contributions to Self-Paced Online Module Exam Question Bank

   18 February 2025 at 08:49

The Institute of Chartered Accountants of India (ICAI) has invited contributions from Chartered Accountants and subject-matter experts for its Self-Paced Online Module Examinations under the New Scheme of Education and Training.

Posted in Students |   2007 Views


Tax Deductions for Political Donations: Individual Taxpayers Outpace Corporates

   18 February 2025 at 08:34

The revenue impact of tax deductions availed by individual taxpayers for donations to political parties has witnessed a sharp surge post-Covid-19, surpassing corporate contributions in the two financial years leading up to the 2024 Lok Sabha election

Posted in Income Tax |   1677 Views


CBIC Clarifies GST Rates on Popcorn

   18 February 2025 at 08:34

The Central Board of Indirect Taxes & Customs (CBIC) has issued a clarification on GST rates applicable to different categories of popcorn, settling ongoing disputes over tax interpretation. The board has also regularised rate disputes on specifi

Posted in GST |   858 Views



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