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, ...
Chartered Accountants
Overview on AI (Artificial Intelligence) and Tax Compliance in India
RJA 19 Jan, 2026
Transforming Enforcement, Compliance, and Taxpayer Services India’s tax administration is undergoing a structural transformation, driven by Artificial Intelligence (AI), Big Data, and advanced analytics. The article explores the evolution of India’s digital tax ecosystem, current AI implementations by CBDT and CBIC, global benchmarks, and future policy ...
Outsourcing Services
Mandatory compliances applicable to UAE companies at a Glance
RJA 27 Dec, 2025
Mandatory compliances applicable to UAE companies at a Glance Mandatory UAE Compliances Corporate Tax Registration Deadline: Corporate Tax Registration is compulsory to be applied for within 90 days of the license issuance. In case, we fail to apply within the stipulated time, then there is a heavy penalty of AED 10,000. ...
OTHERS
NSE Trading Holidays 2026 (CM & F&O Segments)
RJA 26 Dec, 2025
NSE Trading Holidays 2026 (CM & F&O Segments) Market is closed on these weekdays: Date Day Holiday 26 Jan 2026 Monday Republic Day 3 Mar 2026 Tuesday Holi 26 Mar 2026 Thursday Shri Ram Navami 31 Mar 2026 Tuesday Shri Mahavir Jayanti 3 Apr 2026 Friday Good Friday 14 Apr 2026 Tuesday Dr. B. R. Ambedkar Jayanti 1 May 2026 Friday Maharashtra Day 28 ...
INCOME TAX
CBDT issued FAQs on Income Tax Bill 2025 with Key Highlights & Change
RJA 25 Dec, 2025
CBDT issued FAQs on the Income Tax Bill, 2025, & key highlights and major changes: The CBDT FAQs are designed to explain and interpret provisions of the Income Tax Bill, 2025, especially where language/definitions are simplified, changes affect recurring compliance, procedural aspects are clarified, and ambiguities that historically caused disputes are ...
INCOME TAX
Top Personal Income Tax Rates Around the World (2025)
RJA 25 Dec, 2025
Top Personal Income Tax Rates Around the World (2025) India at 39% falls in the mid-range category, similar to New Zealand and Colombia. Nordic countries dominate the highest tax bracket (Finland, Denmark, Sweden). Tax havens and Gulf countries have zero personal income tax. & Global trend is Developed nations generally have higher ...
NRI
Income Tax Dept. is Closely Tracking These 10 Transactions
RJA 25 Dec, 2025
Income Tax Department is Closely Tracking These 10 Transactions Tax dept. has significantly strengthened its surveillance mechanisms to curb tax evasion and ensure transparency in financial dealings. If you engage in high-value transactions, it’s crucial to understand the reporting norms and thresholds that can trigger scrutiny. Staying informed helps ...
IBC
Lok Sabha Unveils Game-Changing IBC Amendment Recommendation
RJA 18 Dec, 2025
Lok Sabha Select Committee Unveils Game-Changing IBC Amendment Recommendations The IBC (Amendment) Bill, 2025, introduced in Lok Sabha on August 12, 2025, seeks to overhaul the Insolvency and Bankruptcy Code, 2016, by addressing delays, judicial ambiguities, and creditor recovery issues through measures like mandatory admission on default proof and clarified security interests. The Lok ...
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, ...
