CAclubindia News

Fugitive Economic Offenders Act Strengthens Crackdown: Rs 15,183 Crore Returned to Banks, FM Tells Lok Sabha

31 March 2026 at 09:23

FM Nirmala Sitharaman informs Lok Sabha: Rs 64,920 crore attached in 1,105 bank fraud cases, Rs 15,183 crore returned to banks under FEOA and PMLA crackdown.

Posted in Income Tax | 534 Views

No TDS Below Threshold: CBDT Clarifies Banking Provisions Under Income Tax Act, 2025

31 March 2026 at 09:23

CBDT clarifies that banks and specified institutions remain exempt from TDS on interest below threshold under the Income-tax Act, 2025, ensuring no change from Section 194A provisions.

Posted in Income Tax | 1 comments | 12372 Views

New Duty Deferment Scheme: CBIC Outreach Highlights Benefits for MSMEs

30 March 2026 at 09:30

Central Board of Indirect Taxes and Customs (CBIC) organised an outreach programme in New Delhi on the Duty Deferment Scheme (EMI), highlighting benefits, eligibility, and compliance for manufacturer importers.

Posted in Custom | 633 Views

CBDT Issues New UIN Procedure for Form 121 Declarations from 1st April 2026 Under IT Act 2025

30 March 2026 at 09:30

CBDT Notification 01/2026 introduces mandatory UIN generation for Form 121 and quarterly reporting rules for payers under the Income Tax Act 2025, effective April 1, 2026.

Posted in Income Tax | 1 comments | 7041 Views

New GDP Series 2022-23 Uses 300+ Data Sources, Says FM Sitharaman

30 March 2026 at 09:26

India's new GDP series (2022-23 base year) uses over 300 data sources, GST and PFMS data to improve accuracy. FM Nirmala Sitharaman explains evolution since 1948.

Posted in Community & General | 6723 Views

KPMG UK Plans Job Cuts: Up to 440 Audit Roles at Risk Amid Market Slowdown

30 March 2026 at 09:25

KPMG UK plans potential layoffs impacting up to 440 audit employees amid low attrition and market slowdown. Nearly 600 staff are at risk as restructuring begins.

Posted in Audit | 2424 Views

CBIC Clarifies No Validity Limit for Exporters' Self-Sealing Permission

30 March 2026 at 09:25

CBIC Circular 14/2026 clarifies that self-sealing permission for exporters has no expiry and continues indefinitely unless revoked for non-compliance or misuse.

Posted in Custom | 168 Views

No Income-Based Tax at Purchase Stage: FM Sitharaman Clarifies GST Framework

28 March 2026 at 09:29

Finance Minister Nirmala Sitharaman states in Lok Sabha that GST is a fair, pro-poor tax system with exemptions on essential goods and low rates on basic necessities.

Posted in GST | 4755 Views

Central Excise Amendments 2026: Govt Revises Key Figures in Official Corrigendum

28 March 2026 at 09:28

Government issues corrigendum to Central Excise notifications dated March 26, 2026, revising key duty rates from 18.5% to 12% and 3% to 9.5%. Read full details...

Posted in Excise | 171 Views

CBDT Extends TDS Certificate Deadline for Dec 2025 Quarter to 31st March 2026

28 March 2026 at 09:25

CBDT extends the due date for issuing TDS certificates for Q3 FY 2025–26 to March 31, 2026, citing technical glitches on the income tax portal.

Posted in Income Tax | 6018 Views