CAclubindia News

Air India Crash: Tata Group's Rs 1 Crore Ex-Gratia Payment Likely Exempt from Income Tax

13 June 2025 at 10:48

Tata Group offers Rs 1 crore compensation per victim's family after AI171 crash. Tax-exempt ex-gratia under Indian law. Nation mourns 242 lives lost.

Posted in Income Tax | 2337 Views

RBI Issues Revised Guidelines for Inoperative Accounts and Unclaimed Bank Deposits

13 June 2025 at 09:23

The Reserve Bank of India (RBI) has issued the Revised Instructions (Amendment), 2025 under the Inoperative Accounts/ Unclaimed Deposits in Banks guidelines.

Posted in Others | 1368 Views

FM Leads FSDC Meeting to Push for Refund of Unclaimed Deposits and Simplified KYC Norms

13 June 2025 at 09:20

Union Finance Minister exhorts FSDC to further take proactive steps for seamless KYC processes across the financial sector to enhance user experience

Posted in Corporate Law | 801 Views

CBDT Notifies Zero-Coupon Bond Issued by NABARD Worth Rs 19,500 Crore for Income Tax Purposes

13 June 2025 at 09:19

CBDT has officially notified a zero-coupon bond issued by the National Bank for Agriculture and Rural Development (NABARD) under clause (48) of Section 2 of the Income-tax Act, 1961.

Posted in Income Tax | 330 Views

SPL-01/SPL-02 Filing Glitch: GSTN Issues Advisory for Taxpayers

13 June 2025 at 09:16

Taxpayers filing amnesty applications via Form SPL-01/SPL-02 under Section 128A of the CGST Act are facing glitches on the GST Portal in auto-populating payment details. GSTN advises uploading payment proof manually for officer verification.

Posted in GST | 2652 Views

GSTN Issues Clarification on HSN Table 12 for B2C Supplies in GSTR-1 Filing

12 June 2025 at 09:22

The Goods and Services Tax Network (GSTN) has issued an important clarification addressing challenges faced by taxpayers while filing GSTR-1 returns when they have only B2C supplies and are required to fill Table 12 (HSN Summary). The Clarification w

Posted in GST | 1 comments | 3243 Views

CBI Arrests CGST Superintendent and Tax Advocate for Rs 1 Lakh Bribe in GST Penalty Waiver Case

12 June 2025 at 09:14

CBI has arrested Nishan Singh Malli, Superintendent of Central Goods and Services Tax (CGST), Amroha and tax advocate Amit Khandelwal for allegedly accepting a bribe of Rs 1 lakh-part of a Rs 4 lakh demand-in exchange for waiving GST penalties.

Posted in GST | 2214 Views

GSTN Issues Advisory as Over 3 Lakh Amnesty Applications Filed Under Section 128A

12 June 2025 at 09:10

GSTN has issued an advisory for taxpayers facing technical issues while filing amnesty applications under Section 128A of the CGST Act, in light of the approaching deadline and the growing number of representations from trade bodies seeking assistance.

Posted in GST | 8013 Views

FEMA Amendment 2025: Bonus Shares Permitted for Foreign Investors in Restricted Sectors

12 June 2025 at 09:05

The Ministry of Finance has notified an amendment to the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, allowing Indian companies operating in sectors where Foreign Direct Investment (FDI) is prohibited to issue bonus shares

Posted in Others | 486 Views

Income Tax Department Releases Common Offline Utilities for ITR-1 and ITR-4 for AY 2025-26

12 June 2025 at 09:03

The Income Tax Department has released the Common Offline Utility (COU) for filing Income Tax Returns (ITR-1 and ITR-4) for the Assessment Year 2025-26

Posted in Income Tax | 249 Views