CAclubindia News

Form ITR-B Filing Now Enabled Online for Section 158BC Notices via e-Proceeding Tab

04 July 2025 at 08:45

Taxpayers who have received notice under Section 158BC can now submit Form ITR-B via the e-Proceeding tab on the Income Tax portal

Posted in Income Tax | 3411 Views

ICAI Launches AI-Powered Digital Workspace on 77th CA Day Celebration

04 July 2025 at 08:38

ICAI Celebrated 77th Foundation Day at Bharat Mandapam. Launched ICAI AI Agent, a next-gen, AI-powered digital workspace

Posted in Professional Resource | 1 comments | 13035 Views

Hajmola's Bitter-Sweet Battle with GST Authorities

03 July 2025 at 09:11

Dabur's iconic digestive product Hajmola is under the tax spotlight again, as the DGGI questions its classification - whether it should be taxed like a candy or as an Ayurvedic product.

Posted in GST | 2025 Views

SBI Cards Receives GST Show Cause Notice for Rs 81.93 Crore ITC Disallowance

03 July 2025 at 09:07

SBI Cards and Payment Services Ltd, India's leading pure-play credit card issuer, has received a show cause notice from the CGST Department proposing to disallow ITC worth Rs 81.93 crore, the company informed stock exchanges on Tuesday.

Posted in GST | 3828 Views

India's Tax Reforms and Digital Transformation Boost Revenue, Cut Compliance Costs: FM Sitharaman

03 July 2025 at 09:02

FM Nirmala Sitharaman highlighted India's strides in tax reforms, digital transformation, and inclusive growth at the Third Plenary Meeting of the Fourth International Conference on Financing for Development

Posted in Income Tax | 2475 Views

GST Fraud Using Villagers' Identities: Rs 130 Crore ITC Scam Exposed

03 July 2025 at 08:57

The Economic Offences Wing (EOW) has unearthed a massive Goods and Services Tax (GST) input tax credit (ITC) fraud worth Rs 130 crore, involving 23 fake firms and Rs 512 crore in fake invoices, according to officials.

Posted in GST | 972 Views

Karnataka State Pollution Control Board Gets Income Tax Exemption on Specified Incomes

03 July 2025 at 08:52

In a major relief for the Karnataka State Pollution Control Board (KSPCB), the Central Government has notified income-tax exemption on specific sources of income under Section 10(46) of the Income-tax Act, 1961.

Posted in Income Tax | 156 Views

Finance Ministry Notifies 7.1% Special Deposit Scheme (SDS) Rate for Q2 FY 2025-26

03 July 2025 at 08:49

Interest Rate on Special Deposit Scheme for Non-Government Provident and Retirement Funds Set at 7.1% for Q2 FY 2025-26

Posted in Corporate Law | 279 Views

ICAI Invites Public Comments on Inclusion of "Forensic Investigation" in Chartered Accountants Regulations

03 July 2025 at 08:44

The Institute of Chartered Accountants of India (ICAI), through its Digital Accounting and Assurance Board, has invited public comments on proposed amendments to Regulation 204 of the Chartered Accountants Regulations, 1988.

Posted in Professional Resource | 1 comments | 1770 Views

Big Relief for NRIs: US Lowers Proposed Tax on Remittances to India from 5% to 1% in Revised Trump Bill

02 July 2025 at 09:09

In a major relief for Indian professionals working in the United States and Non-Resident Indians (NRIs) sending money back home, the revised draft of the One Big Beautiful Bill Act (OBBBA) has slashed the proposed tax rate on remittances to 1%

Posted in Income Tax | 1563 Views