CAclubindia News

Income Tax Exemption on Armed Forces Allowances Under Income Tax Act 2025

28 August 2026 at 09:30

The IT Act 2025 provides tax exemptions on several allowances received by armed forces personnel, including Siachen Allowance, High Altitude Allowance, Counter Insurgency Allowance, and Field Area Allowances. Check exemption limits and eligibility.

Posted in Income Tax | 90 Views

Income Tax Department Releases Detailed Guidance on Taxation of Registered NPOs

28 August 2026 at 09:19

The Income Tax Department has explained the new taxation framework for Registered NPOs under the Income-tax Act, 2025, covering registration, income classification, compliance, commercial activities, donor approvals and penalties.

Posted in Income Tax | 75 Views

Income Tax Relief on Arrears, Gratuity and Foreign Pension Under Sections 157 & 158

27 August 2026 at 09:20

Income Tax Sections 157 and 158 explained: Know the rules, eligibility, Form 39 and Form 40 requirements, and calculation of relief on arrears, gratuity, pension and foreign retirement accounts.

Posted in Income Tax | 3957 Views

No Deduction of TDS Under IT Act 2025: Form 121 Rules for Individuals and Senior Citizens

27 August 2026 at 09:10

Form 121 allows eligible taxpayers to claim no TDS on specified income under the Income-tax Act, 2025. Know eligibility, filing process, UIN and reporting rules.

Posted in Income Tax | 1 comments | 11286 Views

Income Tax Department Releases ITR-6 Offline Utility for AY 2026-27

26 August 2026 at 09:23

Income Tax Department releases ITR-6 offline utility Version 1.0.0 for companies other than those claiming Section 11 exemption. Check release date, Mac utility and key details.

Posted in Income Tax | 561 Views

TDS on Virtual Digital Assets Under Income Tax Act 2025: Key Rules, Rate, Threshold and Compliance

26 August 2026 at 09:14

Know the TDS rules on Virtual Digital Asset transfers under the Income-tax Act, 2025, including the 1% rate, Rs 50,000/ Rs 10,000 thresholds, exchange rules and compliance.

Posted in Income Tax | 3303 Views

RRBs Record Rs 10,176 Crore Net Profit in FY 2025-26, Business Crosses Rs 13.5 Lakh Crore

26 August 2026 at 09:06

Regional Rural Banks record a ₹10,176 crore net profit in FY 2025-26, while total business crosses ₹13.5 lakh crore and 54.98 lakh new PMJDY accounts are opened.

Posted in Community & General | 57 Views

RBI's USD-INR Swap Facility Draws $73 Billion in Forex Inflows in Just 11 Weeks

25 August 2026 at 09:19

RBI’s USD-INR swap facility has mobilised US$73 billion in forex inflows in 11 weeks, including US$65.40 billion through FCNR(B) deposits.

Posted in Investments & Personal Finance | 165 Views

ICAI SPMT Tests Suspended from 11th to 20th October 2026 Due to Portal Maintenance

25 August 2026 at 09:14

ICAI has announced that SPMT tests will not be conducted from 11 to 20 October 2026 due to portal maintenance. Slot booking will resume from 21 October.

Posted in Students | 306 Views

Income Tax Refund Rules Under Income Tax Act, 2025: How to Claim Excess Tax Paid