CAclubindia News

Drunk CGST Clerk Sells Sensitive Tax Files as Scrap for Rs 5000 in Nagpur

30 July 2025 at 09:29

CGST clerk in Nagpur was caught stealing sensitive tax files and selling them as scrap for Rs 5,000. CCTV footage led to his suspension and a departmental inquiry, raising serious data security concerns.

Posted in GST | 4878 Views

18% GST Fixed on User Development Fees Charged by Airlines: Government Clarifies in Lok Sabha

30 July 2025 at 09:23

Government confirms 18% GST on User Development Fees collected by airlines, as clarified in Lok Sabha on July 28, 2025, following a query by MP Shri Matheswaran V S.

Posted in GST | 408 Views

Karnataka MP Raises Concerns Over Income Tax Act Amendments Impacting CA Services

30 July 2025 at 09:18

MP G. Kumar Naik has raised concerns that the proposed amendments to the Income Tax Act may negatively impact Chartered Accountants.

Posted in Income Tax | 537 Views

No Change in LTCG Tax Rates in Income Tax Bill 2025, Clarifies IT Department

30 July 2025 at 09:12

The IT Department has clarified that the Income Tax Bill, 2025 does not propose any changes to LTCG tax rates. The Bill focuses on simplifying language and removing obsolete provisions, with all ambiguities to be addressed during the legislative process.

Posted in Income Tax | 2238 Views

ICAI Limits 60 Tax Audit Assignments Per CA Partner from FY 2026-27

30 July 2025 at 09:05

ICAI has issued new guidelines titled "The Chartered Accountants (Limit on Number of Tax Audits) Guidelines, 2025," capping tax audit assignments at 60 per CA per year, effective from April 1, 2026

Posted in Income Tax | 9126 Views

Excel Utilities for Updated Returns in ITR-1 & ITR-2 for AY 2021-22 and 2022-23 Now Available

30 July 2025 at 08:44

The Income Tax Department has released the Excel Utilities for filing updated returns (ITR-U) using ITR-1 and ITR-2 forms for Assessment Years (AY) 2021-22 and 2022-23. These updates are aligned with the amendments introduced in the Finance Act, 2025

Posted in Income Tax | 168 Views

Govt Issues 5,892 AEO Certificates to Boost Exports and Imports as of June 2025

30 July 2025 at 08:40

The Government of India has issued 5,892 AEO certificates as of June 30, 2025, to fast-track exports and imports. Key initiatives include trade facilitation for MSMEs, relaxed norms, and global recognition through Mutual Recognition Arrangements (MRAs).

Posted in Custom | 96 Views

GST on Apartment Maintenance: No Burden on Residents, Clarifies FM Sitharaman

29 July 2025 at 09:18

Finance Minister Nirmala Sitharaman clarifies that GST applies only to apartment associations with turnover above Rs 20 lakh and monthly maintenance charges over Rs 7,500 per member. Residents are not liable for GST compliance.

Posted in GST | 37 comments | 404805 Views

Ex-ED Officer Sentenced to 3 Years in Bribery Case by Special CBI Court in Bengaluru

29 July 2025 at 09:02

A special CBI court in Bengaluru has sentenced former ED officer M. Lalit Bazad to 3 years in prison with a Rs 5.5 lakh fine for accepting a Rs 5 lakh bribe in a 2021 corruption case linked to a China loan scam.

Posted in GST | 300 Views

CBDT Offers Relief to Taxpayers: Returns Invalidated Due to Technical Errors to Be Reprocessed

29 July 2025 at 08:59

CBDT relaxes time limit for processing ITRs wrongly invalidated due to technical issues. Returns filed up to March 31, 2024, to be reprocessed by March 31, 2026. Refunds will follow, subject to PAN-Aadhaar linkage.

Posted in Income Tax | 3192 Views