CAclubindia News

ICAI Issues Guidance on Permanent Exemptions for CA Intermediate September 2025 Exams

23 June 2025 at 15:08

The Institute of Chartered Accountants of India (ICAI) has released official guidelines for candidates seeking to convert their exhausted exemptions into permanent exemptions for the upcoming September 2025 CA Intermediate examinations.

Posted in Students | 7098 Views

NPCI Launches Real-Time PAN and Bank Account Validation API on Income Tax Portal

23 June 2025 at 09:32

The National Payments Corporation of India (NPCI) has introduced a new real-time PAN and bank account validation facility on the income tax e-filing portal.

Posted in Income Tax | 2970 Views

ICAI Mandates Disclosure of Auditor's Opinion While Generating UDIN for GST & Tax Audits

23 June 2025 at 09:21

With immediate effect, members will now be required to mandatorily provide details of the Auditor's Opinion while generating UDINs under the categories of 'GST & Tax Audit' and 'Audit & Assurance Functions'.

Posted in Audit | 8148 Views

Gross Direct Tax Collection Rises 4.86% in FY26 Despite Surge in Refunds

23 June 2025 at 09:16

While gross collections surged by 4.86%, reaching Rs 5.45 lakh crore, a significant rise in refunds-up by 58.04%-brought down the net collections.

Posted in Income Tax | 1005 Views

CBDT Reviews Status of Follow-Up Actions Under Exchange of Information Framework

23 June 2025 at 09:13

Some media reports have suggested that money deposited in bank accounts of Indian entities in Switzerland has increased. It is reported that the data pertains to different types of funds, including deposits from enterprises, banks and individuals.In

Posted in Income Tax | 228 Views

MCA Allows Separate Filing of e-Form CSR-2 on V3 Portal After Transition from MCA21 V2 to V3

23 June 2025 at 09:11

The Ministry of Corporate Affairs (MCA) has issued General Circular No. 02/2025 announcing the transition from MCA21 Version 2 (V2) to Version 3 (V3) for annual filing forms and related e-forms.

Posted in Corporate Law | 1 comments | 3765 Views

Income Tax Dept Uncovers Rs 29,208 Crore in Undisclosed Foreign Assets via Belated Returns

23 June 2025 at 09:09

The Income Tax Department identifies Rs 29,208 crore in foreign assets through belated returns for AY 2024-25. CBDT intensifies scrutiny using global data-sharing mechanisms amid spike in Indian deposits in Swiss banks.

Posted in Income Tax | 1701 Views

Tragic Death of a Young Chartered Accountant Highlights Mental Health Crisis Among Professionals

21 June 2025 at 16:34

A 28-year-old Chartered Accountant employed at a private company in Hyderabad tragically died by suicide at a local hotel on Tuesday night, according to police sources.

Posted in Professional Resource | 1 comments | 6528 Views

Senior Citizens Welfare Fund Deposits to Earn 3.35% Interest for FY 2024-25

21 June 2025 at 07:57

The Ministry of Finance has announced that deposits made under the Senior Citizens Welfare Fund (SCWF) will earn 3.35% interest for the financial year 2024-25. The interest rate will apply retrospectively from April 1, 2024, to March 31, 2025.

Posted in Income Tax | 987 Views

TDS Exemption for IFSC Units Under Section 80LA Effective July 1, 2025

21 June 2025 at 07:56

In a major relief aimed at bolstering India's International Financial Services Centres (IFSCs), the Central Government has issued a notification exempting TDS on certain payments made to units operating in IFSCs

Posted in Income Tax | 1590 Views