CAclubindia News


Insurance Industry Seeks Key Tax Reliefs and GST Reduction in Upcoming Budget

   08 January 2025 at 09:00

The insurance industry has put forth significant demands ahead of the Union Budget, focusing on easing tax burdens and improving insurance accessibility for the public.

Posted in Union Budget |   570 Views


Income Tax Department Releases Updated Excel-Based Utility for ITR-2 and ITR-3

   07 January 2025 at 09:09

The Income Tax Department has released the latest Excel-based Utility Version 1.8 for filing Income Tax Returns (ITR-2 and ITR-3), ensuring a smoother and more efficient e-filing process for taxpayers.

Posted in Income Tax |   2547 Views


Delhi Police Warns Personnel Against Filing Bogus Income Tax Returns

   07 January 2025 at 09:03

The Delhi Police General Administration (GA) Department has issued a strict directive to its personnel, cautioning them against filing fraudulent income tax (IT) returns by claiming fake deductions.

Posted in Income Tax |   3924 Views


Ministry of Finance Designates Nodal Officer for IT Act and GST Compliance u/s 14A(3)

   07 January 2025 at 09:00

In a significant development aimed at strengthening coordination between IT and GST frameworks, the Ministry of Finance has issued Notification S.O. 95(E), designating the Additional/Joint Director (Intelligence)

Posted in GST |   861 Views


Pre-Budget Consultation Meetings for the forthcoming Union Budget 2025-26 concludes

   07 January 2025 at 08:50

The Pre-Budget consultations chaired by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman for the forthcoming Union Budget 2025-26 concluded in New Delhi.

Posted in Union Budget |   561 Views


Chartered Accountants to Report FCRA Breaches in NGO Audits: MHA Directive

   07 January 2025 at 08:49

The Foreigner's Division of the MHA has introduced new regulations requiring Chartered Accountants (CAs) to include specific declarations regarding compliance with the Foreign Contribution (Regulation) Act, 2010 (FCRA) when filing audit returns for NGOs.

Posted in Audit |   3006 Views


ICAI Set to Finalize International Networking Guidelines for CA Firms by FY 2024-25

   06 January 2025 at 08:54

The Institute of Chartered Accountants of India (ICAI) is gearing up to finalize its international networking guidelines for Indian chartered accountant (CA) firms by the end of this fiscal year.

Posted in Audit  1 comments |   7413 Views


Finance Ministry Assures Sufficiency of GST Compensation Cess Fund

   06 January 2025 at 08:54

The Finance Ministry has addressed concerns regarding the adequacy of the GST Compensation Cess Fund, emphasizing that there is no shortfall in meeting compensation and loan repayment obligations.

Posted in GST |   870 Views


Ministry of Civil Aviation Denies Digi Yatra Data Sharing with Tax Authorities

   06 January 2025 at 08:54

The Ministry of Civil Aviation has strongly refuted claims that passenger data from the Digi Yatra app is being shared with Indian tax authorities.

Posted in Income Tax |   750 Views


Union Budget 2025: Tax Incentives for Fixed Deposits on the Table to Boost Middle-Class Savings

   06 January 2025 at 08:54

As the Union Budget 2025 approaches, Finance Minister Nirmala Sitharaman is actively engaging with representatives from the financial sector to consider key recommendations aimed at boosting middle-class savings.

Posted in Union Budget  1 comments |   2286 Views