The ICSI is advocating for the inclusion of Company Secretaries in the ‘Accountant’ definition of the Income-Tax Bill, 2025, for governance and tax compliance.
The ICAI has updated guidelines for tax audit limits, retaining a 60-audit cap per member per financial year. The rule is effective from April 1, 2026, with some exemptions.
The Ministry of Finance confirms there is no current GST Council recommendation to levy tax on UPI transactions above ₹2000, dispelling public concerns.
Government clarifies GST rates: 12% on renewable energy devices and 5% on electric vehicles, which also receive a 15% discount on third-party insurance.
The Ministry of Finance confirms there has been no upward revision in GST rates on essential drugs or medicines since April 2025, clarifying the government’s stance.
The Finance Ministry reports average monthly GST collections grew by 10.7% in Q1 of FY 2025-26. It also details GST simplification measures for small businesses.
The Ministry of Finance confirms there is no inter-cadre transfer policy for GST department officials, but officers can seek deputation to other directorates.
Finance Ministry states it does not track income tax data specifically for security forces, but provides details on available tax exemptions and deductions.
The Ministry of Corporate Affairs confirms the five-day time limit for depositing dividends under Section 123(4) of the Companies Act, 2013, is not five working days.
The Ministry of Corporate Affairs confirmed no plans for a new LLP Settlement Scheme. It detailed measures like STP forms, C-PACE, and CPC to improve the MCA-21 V3 portal.
