Chartered Accountants
ICAI Announcement on Migration of UDIN Portal to ICAI DigiCA Platform
RJA 15 Dec, 2025
ICAI Announcement on Migration of UDIN Portal to ICAI DigiCA Platform This notice is crucial for chartered accountants to plan their UDIN generation before the migration and be ready for the new platform and mobile app. Members are hereby informed that the Institute of Chartered Accountants of India (ICAI) is ...
Chartered Accountants
Practicing CA Complete a minimum of 20 CPE hours before calendar year
RJA 15 Dec, 2025
Practicing chartered accountants must complete a minimum of 20 structured CPE hours before the calendar year ends to meet ICAI requirements. CPE Requirements: ICAI mandates these hours for members holding a Certificate of Practice (COP), typically as part of the annual total (e.g., 40 hours for those under 60, split between structured ...
Chartered Accountants
ICAI Peer Review Objectives, Eligibility, Process, Phases, Cost
RJA 13 Dec, 2025
ICAI Peer Review Objectives, Eligibility, Process, Phases, Cost Peer Review of Chartered Accountant Firms – Overview Peer Review for Chartered Accountant firms, overseen by the Institute of Chartered Accountants of India, functions as an independent evaluation mechanism to ensure that firms engaged in assurance services adhere to the prescribed technical, ...
INCOME TAX
CBDT Launches NUDGE 2.0 for Voluntary Compliance in respect of FA’s
RJA 02 Dec, 2025
Foreign Income Not in Your ITR? Expect a Sharp NUDGE Before December 31 What Is NUDGE 2.0? The Income Tax Department has launched the enhanced NUDGE 2.0 campaign, aimed at identifying taxpayers who may have undisclosed foreign assets or overseas income in their AY 2025–26 ITRs. NUDGE (Non-intrusive Usage of Data to Guide ...
INCOME TAX
Key Provisions Tax on Winnings of online Gaming in India
RJA 27 Nov, 2025
CBDT issues guidelines for TDS and notifies manner of computing ‘net winnings Online gaming: CBDT issues guidelines for TDS and notifies manner of computing ‘net winnings. Here are the key highlights Finance Act 2023 introduced in two section mention here under : Section 115BBJ: Tax on income from online gaming. ...
CFO
Statutory Audit Exemption for Companies with Turnover up to INR 1 Cr : MCA Plan
RJA 26 Nov, 2025
MCA Planning to change Statutory Audit Exemption Norms for Micro-Companies(Sale up to INR 1 Cr) In a move poised to significantly ease the compliance burden on India’s Micro-Companies(Sale up to INR 1 Cr), the Ministry of Corporate Affairs is reportedly planning to exempt companies with an annual turnover ...
Goods and Services Tax
Simplified GST Registration Scheme – Rule 14A (CGST Rules, 2017)
RJA 22 Nov, 2025
Simplified GST Registration Scheme – Rule 14A (CGST Rules, 2017) GST Registration Scheme – Rule 14A (CGST Rules, 2017): GST Rule 14A under CGST Rules, 2017 has been inserted to provide a simplified, risk-based GST registration mechanism, reducing documentation and physical verification requirements. This rule allows certain applicants to obtain GST registration quickly, ...
AUDIT
Section 43B(h) Compliance Requirements, Impact, Auditor’s Responsibilities
RJA 01 Nov, 2025
Section 43B(h) Compliance Requirements, Impact, Auditor’s Responsibilities Section 43B(h) Background : Section 43B(h) of the Income Tax Act introduced via the Finance Act 2023, and its implications for payments to MSMEs. Section 43B of the Income Tax Act specifies certain expenses that are allowable as ...
Financial Services
Spend too much is Financial trouble fall when borrow without strategy
RJA 21 Oct, 2025
Debts Trap : Spend too much is Financial trouble fall when borrow without strategy A debt trap occurs when a person struggles to repay borrowed funds and ends up taking on new loans to repay existing ones, creating a cycle of continuous borrowing. Excessive use of credit cards, high-interest personal loans, ...
INCOME TAX
Overview Guide on Long-Term Capital Gains tax in India
RJA 24 Jul, 2025
Tax Planning Guide for Zero Tax on Capital Gains (Post 23rd July Changes) The new rules change how capital gains from property sales are taxed. Depending on when you purchased the property (before or after 23rd July 2024), your tax treatment will differ, especially in terms of Shared provides a tax ...
INCOME TAX
AIS Woes: How Taxpayers Are Struggling with Inaccurate Reporting
RJA 20 Jul, 2025
AIS Woes: How Taxpayers Are Struggling with Inaccurate Reporting This blog highlights common issues taxpayers face with the Annual Information Statement & provides practical steps and expert recommendations. What is an Annual Information Statement AIS introduced by the Income Tax Dept in 2021 to enhance financial transparency, has unexpectedly become ...
NRI
NRI Income Tax Filing Checklist for FY 2024-25 (AY 2025-26)
RJA 18 Jul, 2025
NRI Income Tax Filing Checklist for FY 2024-25 (AY 2025-26) Step 1: Essential Documents Checklist To begin your filing process, NRIs should gather the following documents: PAN Card and valid visa or proof of overseas residency Bank statements (NRE, NRO, savings) for April 2024 – March 2025 Interest certificates, capital gains reports, and ...
OTHERS
Proposed 5% united nation of america remittance tax on non-citizens,
RJA 21 Jun, 2025
Proposed 5% united nation of america remittance tax on non-citizens, Its official title is – The One Big Beautiful Bill – but it contains a sting for the lakhs of Indians in the United Nation of America, be they non-immigrant visa holders (like H-1B) or green card holders. Once this ...
Chartered Accountants
CPE Hours Applicability 4 level: CPE Non-Compliance Consequence Level
RJA 20 Jun, 2025
CPE Hours Applicability is applied on the following four levels: CPE Non-Compliance Consequence Levels (to be operational w.e.f. 1/1/2025 for non-compliances arising from the calendar year 2024) Level I: (1st Jan to 30th June – Immediate Next Year) : CA Members not completing CPE by 31st Dec are given an extended ...
Chartered Accountants
ICAI Caps Tax Audits at 60 Per Partner Annually from FY 2026–27
RJA 19 Jun, 2025
ICAI to Cap Tax Audits at 60 Per Partner Annually from FY 2026-27 In a landmark move aimed at improving audit quality, reducing audit concentration, and promoting equitable work distribution, the ICAI has imposed a hard cap of 60 tax audits per partner per year, effective from FY 2026–27. Effective FY 2026-27, ...
RBI
RBI Guidelines on Appointment of Statutory Auditors & Co-operative Banks
RJA 05 Jun, 2025
RBI Guidelines on Appointment / Re-appointment of Statutory Auditors of State Co-operative Banks & Central Co-operative Banks The RBI Circular dated 15 January 2024 provides comprehensive guidelines on the appointment and re-appointment of Statutory Auditors for State Co-operative Banks and Central Co-operative Banks. These guidelines are effective from April 1, 2024, and apply ...
INCOME TAX
New additional disclosures required for AY 2025-26 : Old Tax Regime
RJA 04 Jun, 2025
New additional disclosures required for AY 2025-26 : Old Tax Regime New additional disclosure requirements for claiming deductions in ITR-1 and ITR-4 for Assessment Year (AY) 2025-26 under the Old Tax Regime. These disclosures are aimed at increasing transparency and reducing incorrect deduction claims. Ensure all supporting documents are readily ...
INCOME TAX
Summary of Income Tax Return (ITR) Forms – AY 2025–26
RJA 04 Jun, 2025
Summary of Income Tax Return (ITR) Forms – AY 2025–26 ITR-1 (SAHAJ) For: Resident Individuals (Ordinary) with income up to INR 1 crore from: Salary/Pension One house property Other sources (excluding lottery, racehorses) Agricultural income up to INR 5,000 LTCG u/s 112A up to INR 1.25 lakh Cannot ...
Chartered Accountants
CA Members' Completion ICAI compliance of CPE hours Year ended 2024
RJA 04 Jun, 2025
Mandatory Compliance of CPE Hours for the Calendar Year 2024—ICAI Circular Key Highlights. The last date to complete and claim CPE hours (structured/unstructured) for the calendar year 2024 is 31st December 2024. Non-compliance will trigger consequential provisions starting 1st January 2025, including public display of default status, disclosure in MEF, ...
IBC
Key Highlights IBBI Notifies 4th Amendment to CIRP Regulations
RJA 04 Jun, 2025
Key Highlights IBBI Notifies 4th Amendment to CIRP Regulations The Insolvency and Bankruptcy Board of India (IBBI) has introduced key amendments to the Corporate Insolvency Resolution Process (CIRP) regulations to further strengthen the insolvency framework, enhance investor interest, and uphold creditor rights. IBBI Amends Corporate Insolvency Regulations to Enhance ...
NGO
BIG BRANDS GAVE THOUSANDS OF CRORES. BUT TO WHOM?
RJA 30 May, 2025
BIG BRANDS GAVE THOUSANDS OF CRORES IN CSR. BUT TO WHOM? INR 17,967 crore was officially spent by companies last year on CSR. And ye A 14-year-old girl in Bihar dropped out because no one taught her about periods. A village in Odisha still has no toilets after 10 years ...
AUDIT
Complete Overview Peer Review Process
RJA 24 May, 2025
Complete Overview Peer Review Process Purpose of the Peer Review Process The peer review process is a quality assurance initiative undertaken by ICAI to maintain and enhance the quality of assurance services provided by chartered accountants. It ensures that firms adhere to technical, professional, and ethical standards. Objectives ...
AUDIT
Mandatory Compliance with auditing and quality control standards
RJA 24 May, 2025
Mandatory Compliance with auditing and quality control standards Mandatory Compliance with auditing and quality control standards, particularly those issued by the Institute of Chartered Accountants of India (ICAI), i.e SQC 1 (Standard on Quality Control)- Standards on Auditing (SAs) like SA 210, SA 300, SA 315, SA 320, SA 330, SA 240, SA 530, SA 570, etc. ...
AUDIT
Review Procedures & AQMM Reporting by Peer Reviewer in Peer Review
RJA 19 May, 2025
Review Procedures and Reporting by Peer Reviewer & Importance of AQMM in Peer Review Peer Review – A Tool to Improve Quality Peer review is a cornerstone initiative of the Institute of Chartered Accountants of India (ICAI) aimed at enhancing the quality and reliability of professional services rendered by Chartered ...
