CAclubindia News

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 | 1704 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 | 6606 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 | 993 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 | 1644 Views

FM Sitharaman Urges CBIC to Simplify GST Registration, Expedite Grievance Redressal

21 June 2025 at 07:24

Union Finance Minister Reviews CBIC Performance; Emphasizes Trade Facilitation and Taxpayer Services

Posted in GST | 1698 Views

State GST Dept Arrests Businessman for Rs 25 Crore Fake ITC Scam

21 June 2025 at 06:49

The Assam State GST (AGST) Department has arrested Ishak Ahmed, Director of Khushi Digital Payment Private Limited, for allegedly evading taxes worth Rs 25 crore through fake billing and fraudulent Input Tax Credit

Posted in GST | 435 Views

ICAI Announces GCC Summit Series to Strengthen India's Global Leadership in Financial Services

21 June 2025 at 06:44

ICAI Launches Nationwide GCC Summit Series - New Delhi, Ahmedabad (GIFT City), Mumbai and Hyderabad

Posted in Professional Resource | 288 Views

ICAI Announces Mock Test Paper Series for CA Foundation September 2025 Exams

21 June 2025 at 06:44

The Institute of Chartered Accountants of India (ICAI), through its Board of Studies (Academic), has officially announced the commencement of Mock Test Paper (MTP) Series I and II for CA Foundation students appearing in the September 2025 Examination

Posted in Students | 1788 Views

CBDT Notifies Tax Exemption for Forum of Regulators Under Section 10(46) of Income Tax Act

20 June 2025 at 09:27

CBDT has issued Notification No. 66/2025, dated June 19, 2025, granting income tax exemption under section 10(46) of the Income-tax Act, 1961 to the Forum of Regulators, a statutory body constituted by the Government of India under the Ministry of Power.

Posted in Income Tax | 240 Views

RBI Issues the Reserve Bank of India (Project Finance) Directions, 2025

20 June 2025 at 09:24

The Reserve Bank had issued draft guidelines on "Prudential Framework for Income Recognition, Asset Classification and Provisioning pertaining to Advances - Projects Under Implementation" on May 03, 2024, for stakeholder comments.

Posted in Others | 252 Views