The Institute of Chartered Accountants of India (ICAI), the largest professional body of Chartered Accountants in the world, successfully inaugurated the highly awaited AI Innovation Summit - AIS 2025 at Buntara Bhavana in Pune.
The new Income Tax Bill proposes a clear definition of NPAs in line with RBI norms, aiming to resolve long-standing tax disputes and avoid litigation over the taxation of unrealised interest income.
Hyderabad’s commercial tax department uncovers a fake GST racket by Bala Corporation, using bogus documents to wrongfully claim Rs 6.25 crore in input tax credit. Investigation and legal action underway.
The Income Tax Department has released an updated version (1.4.0) of the common offline utility for filing Forms 3CA-3CD and 3CB-3CD under Section 44AB. Edge browser installation is mandatory for using the utility.
The Parliamentary Committee on the Income-Tax Bill, 2025, has upheld the definition of 'accountant' to include only Chartered Accountants, excluding cost accountants and company secretaries.
The Select Committee of the 18th Lok Sabha has finalized the Income-Tax Bill, 2025, aiming to consolidate and reform India's direct tax structure.
The Income Tax Department uses AI to detect a forged capital gains bill in Hyderabad. A Calibri font, not public in 2002, exposed the fraud.
ITR-2 is now live for online filing with prefilled data on the Income Tax portal. Taxpayers can file seamlessly without uploading JSON files.
Revised Forms 3CA-3CD and 3CB-3CD Now Live on Income Tax e-Filing Portal Following Notification No. 23/2025
The Ministry of Finance has notified amendments to special courts under the Benami Property Act, 1988, updating designations in Raipur and Jaipur via Notification No. 117/2025 dated July 17, 2025.
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