CAclubindia News

Income Tax Department Uses AI to Monitor High-Value Financial Transactions

17 April 2025 at 08:40

The Income Tax Department is rapidly upgrading its surveillance and compliance ecosystem, powered by Artificial Intelligence (AI) and advanced data analytics. According to leading tax experts, the department's intensified focus on high-value transact

Posted in Income Tax | 999 Views

E-Way Bill Generation Hits Record 12 Crore in March, Signalling Robust FY25 Close

17 April 2025 at 08:24

In a strong indication of buoyant year-end economic activity, e-way bill (EWB) generation surged to an all-time high of over 12 crore in March 2025, marking a significant 20% rise compared to the previous month.

Posted in GST | 129 Views

ICAI Releases Admit Cards for CA Intermediate & Final May 2025 CA Exams

16 April 2025 at 16:53

The Institute of Chartered Accountants of India (ICAI) has officially released the CA Admit Card 2025 for candidates appearing in the May 2025 session of the CA Intermediate and CA Final examinations.

Posted in Students | 2808 Views

GST Department Targets Restaurants Over Untaxed Packaging Charges

16 April 2025 at 08:40

The GST department has reportedly issued summons to several restaurants listed on popular food delivery platforms such as Swiggy and Zomato.

Posted in GST | 2583 Views

Ministry of Finance Clarifies GST Applicability on Apartment Maintenance Charges Amid Resident Confusion

15 April 2025 at 07:29

In response to mounting confusion among apartment dwellers and Resident Welfare Associations (RWAs) over GST applicability on monthly maintenance charges, the Ministry of Finance and Corporate Affairs has issued a detailed clarification.

Posted in GST | 3 comments | 3093 Views

Income Tax Department Reopens Past Assessment Cases in Crackdown on Fake Purchases and Bogus Invoices

15 April 2025 at 07:29

In a renewed effort to tackle tax evasion, the Income Tax Department has initiated a fresh wave of reassessment proceedings targeting businesses suspected of inflating purchase entries to reduce their taxable profits.

Posted in Income Tax | 2667 Views

Dabur's Hajmola Under GST Scanner: Will It Be Taxed at 12% or 18% GST?

14 April 2025 at 07:31

According to a report, the DGGI's Coimbatore zone is probing whether Hajmola should be taxed as an ayurvedic medicine, attracting 12% GST or reclassified as a confectionery item, which carries a higher 18% GST.

Posted in GST | 1506 Views

GST Jolt for Karnataka Apartments: 18% Tax on Maintenance Fees Sparks Outrage

14 April 2025 at 06:43

2025-26 Union Budget has introduced a game-changer: housing societies must now impose an 18% GST on monthly maintenance fees if collections exceed Rs 20 lakh annually or if individual maintenance charges are Rs 7,500 or more.

Posted in GST | 2253 Views

Over 9.19 crore ITRs filed for FY 2024-25 by 31st March 2025

14 April 2025 at 06:43

India has achieved a new milestone in tax compliance, with 9.19 crore income tax returns (ITRs) filed for the financial year 2024-25 by March 31, 2025, according to the Income Tax Department.

Posted in Income Tax | 1860 Views

GSTN Issues Advisory on Reporting Values in Table 3.2 of GSTR-3B

12 April 2025 at 08:33

Table 3.2 of Form GSTR-3B captures the interstate supplies made to unregistered persons, composition taxpayers, and UIN holders out of the supplies declared in Table 3.1 & 3.1.1 of GSTR-3B.

Posted in GST | 2775 Views