CAclubindia News
Facility for Filing Updated Returns for AY 2021-22 and AY 2022-23 for ITR-3 and ITR-4 Now Available
15 August 2025 at 08:46The Income Tax Department has announced that taxpayers can now file updated returns for Assessment Years (AY) 2021-22 and AY 2022-23 using ITR-3 and ITR-4 forms.
Income Tax Department Releases Excel Utility of ITR-6 for AY 2025-26
15 August 2025 at 08:20The Income Tax Department has released the Excel utility of ITR-6 for Assessment Year (AY) 2025-26, enabling companies to file their income tax returns for the relevant financial year.
Rajasthan Commercial Taxes Dept Tightens ITC Verification for Delayed GST Registrations
15 August 2025 at 07:59Rajasthan GST Dept issues circular to reject ITC claims on pre-registration stock for businesses registering after 30 days; directs strict monitoring to curb revenue leakage.
New Income Tax Bill 2025 Clears Confusion on Rental Income, Home Loan Deductions
15 August 2025 at 07:50New Income Tax Bill 2025 confirms no change in rental income taxation or home loan deductions; clarifies pre-construction interest allowed for both self-occupied and let-out properties from April 1, 2026.
Govt Clarifies Rs 75,000 Standard Deduction Under New Tax Regime in Income Tax Bill 2025
15 August 2025 at 07:42Govt clarifies Rs 75,000 standard deduction for salaried taxpayers under new regime in Income Tax Bill 2025, effective April 1, 2026; also aligns tax benefits for UPS with NPS.
SGST Department Arrests Two Company Directors for Rs 50 Crore GST Evasion Through Fake ITC Claims
15 August 2025 at 07:29SGST arrests two company directors in Rs 50 crore GST evasion cases involving fake invoices and fraudulent ITC claims, as authorities intensify crackdown on tax fraud
Finance Ministry to Broaden 'Computer System' Definition in New Income Tax Bill 2025
15 August 2025 at 07:18Finance Ministry to widen'computer system' definition in Income Tax Bill 2025; CBDT to issue SOP for handling digital data, ensuring stronger tax enforcement while protecting privacy.
Ministry of Defence to Reimburse 18% GST on Defence R&D Grants for Start-Ups and MSMEs
15 August 2025 at 07:04MoD to reimburse 18% GST to private start-ups and MSMEs on defence R&D grants under iDEX and TDF schemes, offering interim relief until GST Council decides on permanent exemption.
GSTN Launches "Navigate to GSTR-1A" on GST Portal
15 August 2025 at 07:04GSTN introduces the "Navigate to GSTR-1A" feature on the GSTR-3B payment page, allowing taxpayers to easily review, edit and correct sales data before filing returns, ensuring greater accuracy and compliance.
CAG Flags Gaps in GST E-Way Bill System
15 August 2025 at 07:00CAG’s audit of the GST E-Way Bill system reveals ₹576.86 crore in revenue loss due to tax evasion, urges tighter monitoring, alerts for misuse, and improved enforcement to protect government revenue.
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