CAclubindia News

ICAI Calls on CAs to Lead India's Financial Literacy and Ethical Awareness Movement

01 May 2025 at 09:04

Explore how ICAI is empowering India's youth and professionals through financial literacy, capital market growth, and strategic partnerships paving the path toward a resilient and financially inclusive economy.

Posted in Professional Resource | 321 Views

Finance Ministry Amends Customs Duty Exemptions on Over 400 Chemical and Precious Metal Imports

01 May 2025 at 08:57

Finance Ministry updates customs notifications to revise HS codes across key chemical and metal imports, effective from April 30, 2025. Read full list of affected products.

Posted in Custom | 750 Views

Delhi Court Extends CBI Custody of IRS Officer and CA in Faceless IT Scheme Bribery Case

01 May 2025 at 08:52

A Delhi court on Tuesday extended the CBI custody of a senior Income Tax official and a Chartered Accountant for two more days in connection with a bribery case linked to the government's "faceless" income tax assessment scheme.

Posted in Income Tax | 1092 Views

CBDT Notifies ITR Forms 1 and 4 for AY 2025-26

30 April 2025 at 09:02

CBDT has notified the Income-tax (Twelfth Amendment) Rules, 2025 through Notification No. 40/2025, dated April 29, 2025, amending the Income-tax Rules, 1962. The revised ITR-1 and ITR-4 forms are now applicable for AY 2025-26.

Posted in Income Tax | 6336 Views

FM Nirmala Sitharaman Targets 1 Billion UPI Transactions Per Day Within 2-3 Years

30 April 2025 at 08:57

Union Finance Minister Nirmala Sitharaman has set an ambitious roadmap for India's digital payments ecosystem, emphasizing the need to achieve one billion Unified Payments Interface (UPI) transactions per day within the next two to three years.

Posted in Others | 195 Views

Customs Issues Instruction to Close Attari Integrated Check Post for All Movements Amid Security Alert

29 April 2025 at 08:59

Govt of India has ordered the closure of the Integrated Check Post (ICP) at Attari on the India-Pakistan border in Punjab, with immediate effect, following a terrorist attack on tourists at Pahalgam on April 22, 2025.

Posted in Custom | 1053 Views

Ministry of Finance Revises Authorized Banks for Customs Duty Collection

29 April 2025 at 08:56

The Ministry of Finance (Department of Revenue) has issued Notification No. 24/2025-Customs, introducing key amendments to the long-standing Notification No. 50/2017-Customs, originally dated June 30, 2017.

Posted in Custom | 246 Views

CBDT Sets Aggressive Rs 2.4 Lakh Crore Target to Unearth Black Money in FY 2025-26

29 April 2025 at 08:52

In a bold move to curb black money and strengthen the formal economy, the CBDT has unveiled an aggressive action plan for the fiscal year 2025-26.

Posted in Income Tax | 1782 Views

Commercial Taxes Inspector Arrested for Rs 20 Lakh Bribe in Paan Masala Smuggling

28 April 2025 at 08:33

In a major crackdown on corruption, the Lokayukta police arrested a commercial taxes department inspector, Nijanandamurthy M.R., for allegedly accepting a ₹20 lakh bribe to facilitate the illegal transportation of paan masala consignments into Bengal

Posted in GST | 681 Views

RBI Revises FEMA Compounding Rules: Penalty Capped at Rs 2 Lakh