CAclubindia News
India's Rs 100 Crore Income Filers Jump 4X in 5 Years, Reach 576 in AY 2025-26
28 July 2026 at 10:37The number of Indians reporting income above Rs 100 crore rose from 142 to 576 in five years. Here's what the latest government data reveals about wealth creation in India.
No Change in MSME Payment Compliance: Government Defends Section 43B(h) in Parliament
28 July 2026 at 09:37The Finance Ministry has clarified in Rajya Sabha that Section 43B(h) links tax deduction claims to timely payments made to micro and small enterprises, aiming to improve MSME cash flow and working capital availability.
CBDT Extends Tax Exemption Benefits to Maharashtra Fees Regulating Authority Under Section 10(46)
28 July 2026 at 09:29CBDT has notified Maharashtra's Fees Regulating Authority under Section 10(46), exempting specified income including processing fees, government grants, and interest income for AY 2022-23 to AY 2026-27, subject to prescribed conditions.
CBDT Notifies ITR-BN Under Income Tax Rules 2026 for Block Assessment Cases
27 July 2026 at 09:29CBDT has notified ITR-BN through the Income Tax (Third Amendment) Rules, 2026 for block assessment cases arising from search and requisition proceedings under the Income Tax Act, 2025. Know the key details.
ICAI Extends Time Limit for Transfer of Goodwill of Deceased CA Proprietor Firms from 1 Year to 3 Years
27 July 2026 at 09:21ICAI has extended the time limit for transfer of goodwill of a deceased member's proprietary CA firm from 1 year to 3 years under the Code of Ethics, 2026.
Draft Insurance Rules 2026 Released: Centre Proposes Major Overhaul of 87-Year-Old Insurance Rules
25 July 2026 at 09:33The Centre has released Draft Insurance Rules, 2026 to replace the Insurance Rules, 1939. The proposed framework introduces reforms on transparency, governance, agent regulation, insurer oversight and premium payment norms.
FM Sitharaman Calls for Greater Tax Certainty and Reduced Litigation at 167th Income Tax Day Celebration
25 July 2026 at 09:21Finance Minister Nirmala Sitharaman outlined the 5Rs of Responsive Tax Governance at the 167th Income Tax Day celebrations, emphasizing tax certainty, reduced litigation, taxpayer-centric reforms, and the transformative impact of the Income-tax Act, 2025.
ICAI and IIPA Join Hands to Strengthen Municipal Finance, Accounting and Urban Governance
24 July 2026 at 09:41The Institute of Chartered Accountants of India (ICAI), through its Public and Government Financial Management Committee (PGFMC), signed an Memorandum of Understanding (MoU) with the Centre for Urban Studies (CUS) of the Indian Institute of Public Ad
Centre Notifies Additional PMLA Special Courts in Gujarat
24 July 2026 at 09:34The Central Government has amended the PMLA notification to designate additional Special Courts in Gujarat, including CBI Special Courts in Ahmedabad and the Principal District Judge, Surat.
CBDT Grants Section 10(46) Exemption to District Legal Services Authority, Jind
23 July 2026 at 09:23CBDT Notification No. 92/2026 grants Section 10(46) income-tax exemption to District Legal Services Authority (DLSA), Jind on specified income for FY 2022-23 to FY 2025-26, subject to prescribed conditions.
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