CAclubindia News

CBDT Clarifies Rs 12 Lakh Income Tax Rebate Excludes Capital Gains

24 February 2025 at 08:54

Finance Minister Nirmala Sitharaman's Budget 2025 announcement regarding income tax rebates has created confusion among taxpayers, particularly about the inclusion of capital gains in the Rs 12 lakh exemption.

Posted in Income Tax | 3159 Views

RBI: Tax Cuts and Moderating Inflation to Boost Household Consumption

22 February 2025 at 09:00

The Reserve Bank of India (RBI), in its latest bulletin released on February 19, 2025, highlighted that the tax relief measures announced in the Union Budget 2025-26 and easing inflation are set to strengthen household consumption and investments.

Posted in Others | 360 Views

CBDT Begins Overhaul of Tax Rules After New Income Tax Act 2025

22 February 2025 at 08:59

In a significant move aimed at streamlining India's tax framework, the Union Budget 2025-26 has introduced a brand-new Income Tax Act, 2025.

Posted in Income Tax | 1596 Views

DRI Busts Seven Fake Currency Modules Across Four States, Nine Arrested

22 February 2025 at 08:58

In its drive against facilities engaged in the printing of Fake Indian Currency Notes (FICN), DRI busts seven more modules in Maharashtra (4), Haryana (1), Bihar (1) and Andhra Pradesh (1); nine arrested

Posted in Others | 264 Views

ICAI Announces Mock Test Papers for CA Final May 2025 Exams

22 February 2025 at 08:58

The Institute of Chartered Accountants of India (ICAI) has announced the schedule for the Mock Test Papers Series - I & II for CA Final students appearing in the May 2025 Examinations.

Posted in Students | 2349 Views

ICAI Announces Mock Test Paper Series I & II for CA Intermediate May 2025 Exams

22 February 2025 at 08:57

The Institute of Chartered Accountants of India (ICAI) has announced the commencement of Mock Test Paper Series I & II for students appearing in the CA Intermediate May 2025 Examinations.

Posted in Students | 1362 Views

E-Way Bill Now Mandatory for Scrap Supply in Dadra & Nagar Haveli, Daman & Diu

22 February 2025 at 08:57

In a significant compliance reminder, authorities have reiterated that taxpayers engaged in the supply of scrap are mandatorily required to generate e-way bills for consignments exceeding ₹50,000 in value.

Posted in GST | 396 Views

ICMAI Seeks Inclusion of Cost Accountants in Definition of 'Accountant' under Income Tax Bill 2025

21 February 2025 at 09:42

The Institute of Cost Accountants of India (ICMAI) has submitted a memorandum to the Select Committee of Lok Sabha, requesting the inclusion of "Cost Accountant" in the definition of "Accountant" under Section 515(3)(b) of the Income-Tax Bill, 2025.

Posted in Income Tax | 3711 Views

CBDT Issues Circular on TDS Deduction from Salaries for FY 2024-25 under Section 192

21 February 2025 at 08:50

The Central Board of Direct Taxes (CBDT) has released Circular No. 3/2025, detailing the income tax deduction from salaries under Section 192 of the Income Tax Act, 1961, for the financial year 2024-25.

Posted in Income Tax | 43083 Views

CBIC Introduces New Facility Allowing Accredited Importers to Store and Clear Goods at Authorized Premises

21 February 2025 at 08:47

The Central Board of Indirect Taxes and Customs (CBIC) has rolled out a new facility enabling accredited merchants to move, store, and clear imported goods directly at their authorized premises instead of congested ports.

Posted in Custom | 354 Views