CAclubindia News

Maintenance of Books of Accounts Under Income Tax Act, 2025

29 August 2026 at 09:27

Check the latest books of accounts rules under Section 62 of the Income-tax Act, 2025, including threshold limits, required records, 7-year retention and Rs 25,000 penalty.

Posted in Income Tax | 135 Views

ICAI Extends MEF 2026-27 Submission Deadline to 9th September 2026

29 August 2026 at 09:15

ICAI has extended the last date for online submission of MEF 2026-27 from 29 August to 9 September 2026. PDC clarified that no further extension will be granted.

Posted in Professional Resource | 90 Views

ICAI Extends Bulk UDIN Generation Facility to Tax Audit and Audit & Assurance Functions

29 August 2026 at 09:07

ICAI has extended the Bulk UDIN Generation facility to Tax Audit and Audit & Assurance Functions. Know the UDIN limit, process, OTP verification and modification options.

Posted in Income Tax | 1428 Views

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 | 1638 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 | 2040 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 | 5625 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 | 2 comments | 25767 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 | 582 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 | 3537 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 | 69 Views