Income tax return
Can Taxpayers File ITR if Aadhaar–PAN Are Not Linked?
RJA 02 Mar, 2026
Can Taxpayers File ITR if Aadhaar–PAN Are Not Linked? The answer is no; if the taxpayer's income tax Permanent Account Number is inoperative, you cannot validly file the taxpayer's income tax return. Under section 139AA of the Income Tax Act, linking Aadhaar with PAN is mandatory. ...
INCOME TAX
Overview CBDT Issues Draft Income Tax Rules 2026 & Forms
RJA 01 Mar, 2026
CBDT Releases Draft Income Tax Rules, 2026 & Forms Key Changes with Mapping The Central Board of Direct Taxes has placed the Draft Income‑tax Rules, 2026, along with the draft forms, in the public domain, inviting comments from stakeholders and the general public. This step has been taken ahead of their ...
INCOME TAX
All about Crypto Tax Implications in India (As of 2026)
RJA 26 Feb, 2026
Overview Crypto Tax Implications in India (As of 2026) The blog explicitly notes that the 30% flat tax on crypto gains remains unchanged. And the 1% tax deducted at the source on crypto transactions also continues as it is. This means the framework introduced in Budget 2022 continues without relaxation. So, from a taxation ...
Chartered Accountants
ICAI: Norms for Audit Firms to Join Global Network
RJA 26 Feb, 2026
ICAI Brings New Norms for Audit Firms to Join Global Network The Institute of Chartered Accountants of India (ICAI) has introduced new global networking guidelines for Indian chartered accountancy (CA) firms. These norms were announced by ICAI’s newly elected president, Prasanna Kumar D. Purpose of the ICAI Guidelines&...
INCOME TAX
ESOP Taxation in India (2026 Guide)
RJA 26 Feb, 2026
What Are ESOPs (Employee Stock Option Plans)? ESOPs are equity compensation plans where employers grant employees the right to buy company shares at a predetermined exercise (strike) price after a vesting period. Employees typically benefit when the FMV (Fair Market Value) of shares rises above the exercise price. Employee Stock ...
Income tax return
ITR Filing & Tax Planning Tips for Salaried Employees in Indi
RJA 24 Feb, 2026
Tax Planning and ITR Filing Tips for Salaried Employees in India (AY 2026–27 Ready Guide) Tax planning is not about last-minute investments in March 2026. Tax planning is a crucial part of financial management for salaried individuals. With the right strategies, employees can reduce their tax burden, maximize savings, and stay ...
AUDIT
Overview on red Flag Indicators of Smurfing (Structuring)
RJA 23 Feb, 2026
Overview on red Flag Indicators of Smurfing (Structuring) Smurfing is a money laundering technique that involves using multiple individuals or entities to break large amounts of money into smaller transactions. This is done to conceal the source of funds and avoid crossing reporting thresholds mandated under the International Financial Services ...
INCOME TAX
Foreign Assets of Small Taxpayers (Disclosure Scheme 2026)
RJA 21 Feb, 2026
FAST DS, 2026 : Foreign Assets of Small Taxpayers (Disclosure Scheme 2026) A one time compliance window under the Finance Bill, 2026. FAST DS (Foreign Assets of Small Taxpayers Disclosure Scheme), 2026, is a one‑time, six‑month voluntary disclosure window announced in the Union Budget 2026 and introduced through the Finance Bill, 2026. ...
INCOME TAX
Tax Snapshot of Union Budget 2026
RJA 19 Feb, 2026
Ease of Doing Business & Ease of Living through Union Budget 2026 1. Reliefs & Rationalisation Income tax Insurance compensation received by a natural person from a motor accident tribunal is fully exempt from income tax, and no TDS will apply. Due date for filing revised returns shifted from 31 December to 31 March (...
Goods and Services Tax
GST on Interest Income applicability Business Owner Must Know
RJA 19 Feb, 2026
GST on Interest Income applicability Business Owner Must Know Understanding Goods and Services Tax implications on interest income are crucial for businesses, professionals, and tax consultants. While many assume interest is completely exempt, the reality depends on the nature of the transaction. Interest income under Goods and Services Tax is ...
Chartered Accountants
ICAI UDIN Directorate – New Validation & Audit Ceiling
RJA 17 Feb, 2026
UDIN Directorate Update: Field-Level Validation & 60 Tax Audit Ceiling (Effective 1 April 2026) The Unique Document Identification Number Directorate of the Institute of Chartered Accountants of India has announced important changes relating to UDIN generation under the “GST and Tax Audit” category. At its 442nd Council Meeting (May 2025), the the ...
OTHERS
Individuals OVD for Address Verification IFSCA Guidelines
RJA 17 Feb, 2026
Officially Valid Documents for Address Verification of Individuals under IFSCA (AML/CFT and KYC) Guidelines, 2022 The International Financial Services Centres Authority has issued the IFSCA (AML, CFT, and KYC) Guidelines, 2022, prescribing detailed anti-money laundering and combating the financing of terrorism requirements for regulated entities operating in International Financial Services Centres ...
INCOME TAX
New Draft Income Tax Rules, 2026 – Objective, Areas, Highlights,
RJA 16 Feb, 2026
New Draft Income Tax Rules, 2026 – Objective, Areas, Highlights, The Central Board of Direct Taxes has proposed significant reforms under the Draft Income Tax Rules, 2026, to simplify compliance, enhance transparency, and modernize tax administration. Objective of the New Draft Income Tax Rules, 2026 : The proposed changes aim to simplify complex tax ...
GST Consultancy
GST on Commercial Rent from Unregistered Landlord – RCM Position
RJA 13 Feb, 2026
GST on Commercial Rent from Unregistered Landlord—RCM Position When Does RCM Apply? GST under the Reverse Charge Mechanism (RCM) applies when the property is commercial, the tenant is a registered person, and the landlord is unregistered. Renting of immovable property (other than residential dwelling for personal use)&...
GST Filling
GST Amendments with Implications under Finance Bill 2026
RJA 12 Feb, 2026
GST Amendments with Implications under Finance Bill 2026 The Finance Bill 2026 introduces several progressive changes to the GST framework, aimed at reducing litigation, simplifying compliance, and aligning GST law with commercial realities. Below is a structured and comprehensive explanation of each amendment along with its practical impact on businesses. Post‑Supply ...
GST Consultancy
Guide on Mandatory GST Forms – Due Dates, Late Fees & Penalties
RJA 11 Feb, 2026
Guide on Mandatory GST Forms – Due Dates, Late Fees & Penalties Goods and Services Tax compliance is non-negotiable. Missing deadlines can lead to late fees, interest, ITC blockage, notices, and even cancellation of Goods and Services Tax registration. Goods and Services Tax Taxpayer Always reconcile GSTR-2B before ...
INCOME TAX
New Income Tax Slab Rate for FY 2026‑27 & AY 2027‑28 (Budget 2026)
RJA 01 Feb, 2026
New Income Tax Slab Rate for FY 2026 2027 & AY 2027 2028 (Budget 2026) The Finance Minister’s announcement marks one of the biggest overhauls of India’s tax framework in decades. Following are some of the key highlights from the budget speech Income Tax Slab Rates (Default New Regime – FY 2026 2027) ...
Goods and Services Tax
GST Notice Trap: Section 160(2) and the Point of No Return
RJA 31 Jan, 2026
GST Notice Trap: Section 160(2) of the CGST Act and the Point of No Return Section 160(2) of the CGST Act creates a critical but silent trap for taxpayers who receive any GST notice with procedural defects. If a GST notice, order, or communication is made available on the GST portal, ...
GST Filling
Overview of TDS & TCS Under GST
RJA 29 Jan, 2026
QUICK CLARITY ON TAX DEDUCTED AT SOURCE & TAX COLLECTED AT SOURCE UNDER GST: Many GST mismatches don’t happen due to wrong tax rates; they happen because TDS and TCS are misunderstood. A clear understanding of tax deducted at source & TCS under GST helps avoid unnecessary mismatches ...
NBFC
Understanding FIU‑IND Reporting Requirements for Regulated Entities
RJA 29 Jan, 2026
Understanding FIU IND Reporting Requirements for Regulated Entities All Regulated Entities (REs) in India are mandated under the Prevention of Money Laundering Act (PMLA) to file specific reports with the Financial Intelligence Unit–India (FIU IND) for designated transactions. These reports play a crucial role in helping FIU‑IND ...
INCOME TAX
Comparative Summary on 44AD / 44ADA / 44AE vs. Section 58 (Income-tax Act, 2025)
RJA 28 Jan, 2026
Comparative Chart: 44AD / 44ADA / 44AE vs. Section 58 (Income Tax Act, 2025) Conceptual Understanding “Presumptive “Taxation Reimagined” Presumptive Taxation Reimagined Section 58—Income Tax Act, 2025 Section 58 of the Income Tax Act, 2025, marks a structural shift—not merely a rate revision—in the presumptive taxation framework. Under the ...
INCOME TAX
Best Judgment Assessment under Income-tax Act 1961 & Income-tax Act, 2025
RJA 27 Jan, 2026
Summary of Changes in Best Judgment Assessment from Income Tax Act, 1961 to Income Tax Act, 2025 Applicability of Best Judgment Assessment under Section 144 Section 144 of the Income-tax Act, 1961, deals with what is commonly known as a best judgment assessment. This provision is invoked when a taxpayer fails to ...
Goods and Services Tax
Assessment on a Deceased Person Is Void: High Courts
RJA 26 Jan, 2026
Assessment on a Deceased Person Is Void: High Courts Reiterate Limits of GST Jurisdiction Case 1: Proceedings Against Deceased Proprietor – Assessment Quashed Facts of the Case Late B. Kameswara Rao was a registered person under GST, carrying on business as M/s Aravinda Enterprises. He passed away on 21.12.2021. The business ...
Chartered Accountants
ICAI NOW ALLOWS ADVERTISING: BIG UPDATE FOR CA FIRMS
RJA 26 Jan, 2026
ICAI NOW ALLOWS ADVERTISING: BIG UPDATE FOR CA FIRMS In a landmark reform, the Institute of Chartered Accountants of India has issued a press release dated 12 December 2025, announcing a major relaxation in the Code of Ethics. The Institute of Chartered Accountants of India has issued a press release dated 12 December 2025, ...
