CAclubindia Articles
CBIC Clarification dated 18.07.2025 puts an end to the BSS refund litigation initiated by the GST Authorities in Sikkim
The CBIC clarification dated 18 July 2025 (Letter No. CBIC-110267/107/2023-CX) has resolved the Sikkim GST dispute on excess Budgetary Support Scheme (BSS) refunds. It confirms that eligible manufacturing units in Sikkim can claim refunds based on actual value addition under the BSS notification, not restricted by the fixed cap in Para 5.8.
Mismatch in TDS But Still You Can Get Your Refund Says High Court
The Allahabad High Court ruled that taxpayers cannot be denied refunds merely due to mismatches in Form 26AS if valid proof of TDS, such as Form 16A, is provided. The Court emphasized that the Income Tax Department must verify discrepancies with the deductor and not penalize honest taxpayers for deductor errors.
Bank Transactions That Can Trigger an Income Tax Notice
27 October 2025
19078 Views
Learn which high-value bank or credit card transactions can trigger an Income Tax notice, how SFT reporting works, and tips to stay compliant with ITR rules.
Which Tax Regime Is Better for the Middle Class in FY 2025-26: Old or New?
27 October 2025
274 Views
Budget 2025 has reignited the Old vs New Tax Regime debate for India’s middle class. With income up to Rs 12.75 lakh now tax-free under the New Regime, should you switch or stay with the Old one?
SEBI's October 13, 2025 Circular on RPT Industry Standards: A Step Towards Ease of Doing Business
The Securities and Exchange Board of India (SEBI), through its circular dated October 13, 2025, has brought meaningful relief for listed entities by rationalizi...
Tax Exemption on Bank Interest: No Tax up to ₹50 Lakh FD
Tax exemption on bank interest on deposit up to Rs.50 Lakh can be availed by senior citizens from FY 2025-26 with certain conditions.
Tax Audit Due Date For AY 2025-26
Tax audit is required for certain businesses and professionals whose income or turnover exceeds specified limits under the Income Tax Act.
Glitch in the System or Habitual Delay: Who's Really to Blame for ITR Filing Chaos?
AY 2025-26 e-filing faced major disruptions due to portal glitches and last-minute filings, causing refund delays and backlogs. Explore the causes, CBDT response, High Court interventions and strategies for smoother tax filing in the future.
Supreme Court on Section 153C: Why One-Year Incriminating Material Cannot Justify Six-Year Reassessments
Understand the key differences between Sections 153A and 153C of the Income Tax Act, 1961, and how courts have interpreted the scope of incriminating materials in search assessments.
Top Tax-Saving Investment Options Under Income Tax Section 80C for the Old Tax Regimes
25 October 2025
133 Views
Discover the best tax-saving investments under Income Tax Section 80C. Compare ELSS, PPF, EPF, SSY, FDs, NSC and life insurance to save taxes and grow your wealth wisely
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