CAclubindia News

CBDT Amends Form 27EQ: TCS Now Applicable on Luxury Goods and Collectibles

23 April 2025 at 08:57

In a move aimed at expanding the tax base and ensuring better traceability of high-value transactions, the Central Board of Direct Taxes (CBDT) has issued a notification amending the Income-tax Rules, 1962.

Posted in Income Tax | 3294 Views

CBIC Amends Customs Circular to Replace 'Certificate of Origin' with 'Proof of Origin' under CAROTAR, 2020

23 April 2025 at 08:41

In a move to streamline trade procedures and align with international practices, the Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 14/2025-Customs dated April 21, 2025, amending Circular No. 38/2020-Customs.

Posted in GST | 720 Views

Over 25,000 Fake Firms Detected for Rs 61,545 Crore ITC Fraud in FY 2024-25

23 April 2025 at 08:41

In a major crackdown on tax evasion under the GST regime, Central and State GST authorities have unearthed 25,009 fake firms involved in fraudulently claiming ITC worth a staggering Rs 61,545 crore during the financial year 2024-25, officials said.

Posted in GST | 1 comments | 183 Views

ICAI Strengthens Fight Against Financial Fraud Through Strategic National Collaborations

23 April 2025 at 08:41

Join hands with institutions under the Ministry of Home Affairs towards empowering India's Financial Investigators

Posted in Professional Resource | 1 comments | 891 Views

RBI Issues New Guidelines: Minors Above 10 years Can Now Operate Bank Accounts Independently

22 April 2025 at 08:38

Reserve Bank of India has issued guidelines in the past to banks on opening of and operations in the deposit accounts of minors.

Posted in Others | 2547 Views

ICAI Signs MoU with CAG to Boost Capacity of PSU Audit Officers

22 April 2025 at 08:30

ICAI and CAG Join Hands to Strengthen Capacity of PSUs Audit Officers

Posted in Audit | 1788 Views

UAE-Based NRI Gets Rs 2.84 Crore GST Notice for Fake Firm, Alleges PAN Misuse

22 April 2025 at 08:29

In a shocking case of identity theft and alleged GST fraud, a 48-year-old NRI employed in an aviation consultancy firm in the UAE has filed a police complaint after receiving a GST demand notice of Rs 2.84 crore from the Income Tax Department

Posted in GST | 258 Views

GST Fraud of Over Rs 100 Crore Busted: Commerce Graduate Arrested

21 April 2025 at 08:35

In a major crackdown on tax evasion, the CGST department has unearthed a massive GST fraud of over Rs 100 crore, operated through a network of fake companies from a single shop located in a Faridabad mall.

Posted in GST | 1 comments | 3672 Views

Form 10AB Filing Activated: Charitable Trusts Can Now Seek Section 12A Relief

21 April 2025 at 08:26

In a significant relief to charitable and religious institutions, the Income Tax Department has now enabled the filing of condonation requests through Form 10AB on the e-filing portal.

Posted in Income Tax | 3024 Views

MCA Notifies Election Tribunal for ICAI Council Poll Disputes Held in Dec 2024

21 April 2025 at 08:25

The Ministry of Corporate Affairs (MCA) has officially constituted an Election Tribunal to resolve disputes arising from the Council elections of the Institute of Chartered Accountants of India (ICAI) held in December 2024.

Posted in Corporate Law | 552 Views