RBI proposes ban on third-party products on digital platforms
Posted Date : 24-Jul-2025 , 08:01:00 am | Posted By CASANSAAR
Reserve Bank of India proposes new digital banking guidelines. Banks cannot display third-party products on their digital platforms. Banks must monitor transactions for fraud. Customer consent is needed for digital banking services. Banks need RBI approval to launch transactional banking. These meas...
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RBI |
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System Glitch: GSTR-3A Notices Issued in Error – No Action Needed
Posted Date : 21-Jul-2025 , 01:01:12 am | Posted By CASANSAAR
Jul 20th, 2025
As per the provisions of Section 39(2) of the Central Goods and Services Tax (CGST) Act, 2017, read with Rule 68 of the CGST Rules, 2017, notices in Form GSTR-3A are required to be issued in cases of non-filing of Form GSTR-4. However, it has come to notice th...
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GST |
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Auto-Populated Table 3.2 in GSTR-3B to Become Non-Editable from July 2025
Posted Date : 19-Jul-2025 , 11:25:54 am | Posted By CASANSAAR
Jul 19th, 2025
Kindly refer to the advisory on table 3.2 of GSTR-3B, issued on 11th April 2025, wherein it was informed that, from April 2025 tax period, inter-State supplies auto-populated in Table 3.2 of GSTR-3B on the GST portal would be made non-editable and GSTR-3B must be filed ...
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GST |
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GSTN to Introduce New Consent Alerts & Access Controls for ASP / GSP Interactions
Posted Date : 18-Jul-2025 , 07:55:59 pm | Posted By CASANSAAR
Jul 17th, 2025
The GST System is being continuously enhanced to strengthen data security and improve transparency to the taxpayers.
In this effort, the below mentioned enhancement shall be shortly introduced to provide transparency and control to the taxpayers who interact ...
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GST |
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GST Portal Now Open for Filing Appeals Against SPL-07 Waiver Orders
Posted Date : 17-Jul-2025 , 07:38:41 pm | Posted By CASANSAAR
Jul 16th, 2025
1.Taxpayers who have filed waiver applications in Forms SPL 01/SPL 02 are receiving orders from the jurisdictional authorities:
&...
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GST |
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0 | Hits : 664
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Parliamentary panel clears Income Tax Bill 2025 with 285 suggestions
Posted Date : 17-Jul-2025 , 01:16:49 pm | Posted By CASANSAAR
The Select Committee of Parliament that examines the Income Tax Bill-2025 is learnt to have finalised its report on Wednesday (July 16, 2025) with about 285 suggestions to change the legislation.
The committee, headed by senior BJP MP Baijayant Panda, is likely to submit the report in the upcomin...
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Income Tax |
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0 | Hits : 698
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RBI launches quarterly industrial outlook survey
Posted Date : 15-Jul-2025 , 05:16:35 pm | Posted By CASANSAAR
MUMBAI: (Jul 15) The Reserve Bank on Tuesday said it has launched the quarterly industrial outlook survey of the Indian manufacturing sector to assess business sentiments.
It has also launched the 46th round of the quarterly Services and Infrastructure Outlook Survey (SIOS).
Th...
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RBI |
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0 | Hits : 708
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IT Department Takes Action Against Bogus Claims in ITR Filings
Posted Date : 15-Jul-2025 , 06:39:58 am | Posted By CASANSAAR
Income Tax Department Launches Nationwide Crackdown on Fake Deductions and Exemptions
On 14th July 2025, the Income Tax Department initiated a large-scale verification drive across multiple states to tackle fraudulent claims of deductions and exemptions in ITR filings. The crackdown targe...
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Income Tax |
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0 | Hits : 732
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Japan breaks internet speed record with 1.02 Pbps, it can download all of Netflix in 1 second
Posted Date : 15-Jul-2025 , 07:58:44 am | Posted By CASANSAAR
Japan has set a new world record for internet speed, reaching 1.02 petabits per second, according to the country’s National Institute of Information and Communications Technology (NICT). That’s fast enough to download the entire Netflix library or the English version of Wikipedia thousan...
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International Business |
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ED attaches immovable properties worth Rs 6.8 Cr of CA in money laundering case
Posted Date : 14-Jul-2025 , 06:21:07 pm | Posted By CASANSAAR
The Enforcement Directorate (ED) has provisionally attached immovable properties worth Rs 6.8 crore belonging to Tehmul Sethna, a practicing chartered accountant based in Ahmedabad, under the Prevention of Money Laundering Act (PMLA).
The Ahmedabad Zonal Office of the ED said the attached assets ...
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CA |
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Income Tax raids across 200 locations over fake political donation claims
Posted Date : 14-Jul-2025 , 06:13:52 pm | Posted By CASANSAAR
The Income Tax Department is conducting raids on more than 200 locations, in connection with false deductions under various heads, including political donations, tuition fees, and medical expenses, sources told ANI.
This stern action from the Income Tax Department came after they found several bo...
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Income Tax |
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0 | Hits : 803
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Cash deposits made during demonetisation not taxable if disclosed - ITAT
Posted Date : 14-Jul-2025 , 04:51:28 pm | Posted By CASANSAAR
Cash deposits made during the 2016 demonetisation period are not liable for additional tax if they were already recorded in a taxpayer’s financial records and income tax returns, according to a recent ruling by the Income Tax Appellate Tribunal (ITAT)
The Delhi bench of the ITAT ruled in fa...
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Income Tax |
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0 | Hits : 870
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RBI imposes monetary penalty on HDFC Bank, Shriram Finance
Posted Date : 12-Jul-2025 , 08:58:16 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) said on Friday that it has imposed a monetary penalty of Rs 4.88 lakh on HDFC Bank and Rs 2.70 lakh on Shriram Finance after finding non-compliance with certain directions of the Central Bank.
The penalty on HDFC Bank was levied under the provisions of Section 11(3...
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RBI |
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0 | Hits : 866
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RBI to intensify scrutiny of Bank Auditors after Governance lapses
Posted Date : 11-Jul-2025 , 10:25:23 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) is expected to turn the knob on statutory auditors of banks, and by extension, on the role of their audit committees.
With governance concerns at IndusInd and Karnataka Bank, RBI is expected to tighten its engagement with statutory auditors and examine the role of ...
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Auditing |
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CA dies by suicide after ₹3 cr blackmail, leaves message for colleagues
Posted Date : 11-Jul-2025 , 01:36:26 am | Posted By CASANSAAR
A 32-year-old chartered accountant died by suicide on Tuesday after allegedly being blackmailed into paying over ₹3 crore in the past few months. The Mumbai-based accountant, in his suicide note, blamed two people -- who had allegedly threatened to circulate his obscene videos on social media - fo...
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CA |
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Excel utilities for ITR-2 and ITR-3 for AY 2025-26 are now live and available for filing
Posted Date : 11-Jul-2025 , 08:31:11 am | Posted By CASANSAAR
Excel utilities for ITR-2 and ITR-3 for AY 2025-26 are now live and available for filing.
The Income Tax Department has officially released Excel-based offline utilities (version 1.0) for ITR‑2 and ITR‑3 forms, now available for download on the e‑Filing portal as of 11 July 2025.
...
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ITR |
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Chartered Accountant arrested in Rs 750 Cr Chinese loan app scam case
Posted Date : 07-Jul-2025 , 11:17:05 am | Posted By CASANSAAR
The Uttarakhand Special Task Force (STF) has arrested the alleged mastermind of a pan-India cyber fraud operation involving over Rs 750 crore, at Delhi’s airport.
Abhishek Agarwal, a chartered accountant by profession, is accused of running a fake loan app racket in collaboration with Chine...
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Chartered Accountant |
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0 | Hits : 1929
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Aakash Educational Accuses EY for Professional Misconduct
Posted Date : 07-Jul-2025 , 11:09:03 am | Posted By CASANSAAR
Test preparatory firm Aakash Educational Services has sent a legal notice to consultancy firm EY, its partners and officials, accusing them of advising rivals in conflict of interest and professional misconduct, the company said on Saturday.
Aakash Educational Services Ltd (AESL) has alleged that...
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ICAI |
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Results of the CA Final, Inter & Foundation May 2025 Exams are likely to be declared on 6th July 2025
Posted Date : 04-Jul-2025 , 10:19:32 pm | Posted By CASANSAAR
The results of the Chartered Accountants Final, Intermediate and Foundation Examinations held in May 2025 are likely to be declared on 6th July 2025 at the following timings; and the same can be accessed by candidates on the website icai.nic.in.
...
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CA Results |
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CBDT raises cost inflation index to ease capital gains tax burden
Posted Date : 05-Jul-2025 , 08:41:18 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has revised a key metric used to calculate inflation-adjusted purchase price of assets, enabling sellers to claim greater tax relief on asset sales.
An official notification showed that the cost inflation index (CII), used to neutralize the impact of infla...
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CBDT |
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RBI bars prepayment penalty on floating rate micro, small business loans
Posted Date : 04-Jul-2025 , 11:31:36 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has directed banks and non-banking financial companies (NBFCs) not to charge any prepayment penalty on floating rate loans to micro and small enterprises (MSEs), sanctioned or renewed from January 1, 2026.
Observing that “availability of easy and afford...
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RBI |
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SEBI allows 6-month window to re-lodge old share transfer requests
Posted Date : 04-Jul-2025 , 12:57:33 am | Posted By CASANSAAR
Sebi said it has permitted a one-time special window for investors to re-lodge physical share transfer requests that were submitted before April 1, 2019, but rejected or returned due to deficiencies.
The six-month window will be open from July 7 to January 6, 2026, as part of the regulator's ...
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SEBI |
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Rupee Gains 21 Paise to 85.34 Against US Dollar in Early Trade
Posted Date : 04-Jul-2025 , 12:24:20 am | Posted By CASANSAAR
MUMBAI: (Jul 4) The rupee appreciated 21 paise to 85.34 against the US dollar in early trade on Friday as Asian currencies, including the rupee gained ground on renewed hopes of trade deals with the US.
Forex traders said, US President announced a trade agreement with Vietnam, and that in...
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Finance |
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0 | Hits : 470
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Gross and Net GST Revenue Collections – June 2025
Posted Date : 02-Jul-2025 , 10:56:24 am | Posted By CASANSAAR
Jul 1st, 2025
Please click on the link below to view the gross and net GST revenue collections for the month of June, 2025.
https://tutorial.gst.gov.in/downloads/news/approved_monthly_gst_data_for_publishing_june_2025.pdf
Thanks,
Team GSTN
...
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GST |
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0 | Hits : 1621
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SEBI mandates enhanced disclosures from listed companies on related party dealings to improve transparency.
Posted Date : 28-Jun-2025 , 08:25:09 pm | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (SEBI) has asked listed entities to share more information for approval of related party transactions (RPTs).
Related party transactions or RPTs are business dealings between a company and parties that have pre-existing relationship, like su...
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SEBI |
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0 | Hits : 630
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ICMAI invites CMAs to submit Expression of Interest for SEBI Task Force
Posted Date : 27-Jun-2025 , 12:56:15 am | Posted By CASANSAAR
The Institute of Cost Accountants of India (ICMAI) is inviting CMAs to submit an Expression of Interest (EOI) to help develop a new National Institute of Securities Markets (NISM) certification course as part of the newly proposed Securities and Exchange Board of India (SEBI) task force.
An ...
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ICWAI |
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0 | Hits : 925
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CBDT orders processing of late returns, refunds filed upto March 2024
Posted Date : 27-Jun-2025 , 07:23:03 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has ordered the processing of late tax returns and their refunds in cases where taxpayers have filed a request for condoning delays and reported their income by the end of March 2024.
CBDT said in an order that returns of income filed under section 1...
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CBDT |
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CBIC issues procedural guidelines for review and appeals in Multi-State GST Cases
Posted Date : 27-Jun-2025 , 07:21:04 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has issued procedural guidelines to clarify the review and appeal process for adjudication orders in multi-state Goods and Services Tax (GST) cases handled by Common Adjudicating Authorities (CAAs).
This move addresses jurisdictional am...
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GST |
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0 | Hits : 795
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FM asks tax income tax dept to drop tax appeals below new thresholds in 3 months
Posted Date : 24-Jun-2025 , 11:52:45 am | Posted By CASANSAAR
Finance minister Nirmala Sitharaman on Monday asked the income tax department to withdraw within three months all appeals filed by it before tribunals and courts in which the tax claim falls below the new monetary threshold announced in last year's budget.
The government had in budget 2024-25...
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Income Tax |
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0 | Hits : 2016
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Handling of Inadvertently Rejected records on IMS
Posted Date : 21-Jun-2025 , 11:26:52 am | Posted By CASANSAAR
Jun 19th, 2025
Question 1: How can a recipient avail ITC of wrongly rejected Invoices/ Debit notes/ECO-Documents in IMS as corresponding GSTR-3B of same tax period was also filed by recipient?
Answer: In such cases recipient can request to the corresponding supplier to...
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GST |
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0 | Hits : 1992
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