AUDIT
44AB(a), (b), (c), (d)/(e): Which Tax Audit (FY 2025-26) Clause Applies?
RJA 01 Oct, 2026
44AB(a), (b), (c), (d) or (e): Which Tax Audit Clause Applies? (FY 2025-26 / AY 2026-27) Selecting the correct clause under Section 44AB is the first step in a tax audit. The clause reported in Clause 8 of Form 3CD reflects why the audit applies, while the choice between Form 3CA ...
COMPANY LAW
Compliance Planning Checklist for October 2026
RJA 01 Oct, 2026
October 2026 Compliance Calendar: Key Tax, GST, TDS, ROC & Payroll Due Dates October 2026 is one of the most critical compliance months for businesses, professionals, companies, LLPs, and tax practitioners. With revised tax audit timelines, quarterly TDS/TCS filings, GST returns, ROC compliances, and payroll obligations falling in the same month, ...
INCOME TAX
Salary Tax Planning for Tax Year 2026-27: New Regime vs Old Regime
RJA 30 Sep, 2026
Salary Tax Planning for Tax Year 2026-27: New Regime vs Old Regime under the Income-tax Act, 2025 From "FY/AY" to "Tax Year": what has changed The Income-tax Act, 2025 came into force on 1 April 2026, replacing the Income-tax Act, 1961. One of its most visible changes is terminology. The ...
NRI
TDS on Buying Property from an NRI: TAN Requirement Removed From 1 Oct 2026
RJA 27 Sep, 2026
TDS on Buying Property from an NRI: TAN Requirement Removed From 1 October 2026 Starting 1 October 2026, a resident individual or HUF who purchases immovable property from a non-resident will not have to obtain a TAN to deduct and deposit TDS. The CBDT has notified the Income-tax (Fifth Amendment) Rules, 2026 (Notification No. 121/2026, G....
Chartered Accountants
ICAI's 60 Tax Audit Limit Now Enforced via UDIN: What Every CA Must Know
RJA 24 Sep, 2026
ICAI's 60 Tax Audit Limit Now Enforced Through UDIN: What Every Chartered Accountant Must Know Introduction For many years, the ceiling on the number of tax audits that a chartered accountant could undertake functioned largely as a matter of professional self-regulation. That position is now set to change. The Institute ...
Chartered Accountants
Why Every CA Firm Needs a Robust Audit Manual
RJA 22 Sep, 2026
Why Every CA Firm Needs a Robust Audit Manual In today's evolving regulatory environment, maintaining audit quality is not merely a best practice but a professional necessity. An Audit Manual serves as the foundation of a Chartered Accountant firm's quality control framework and is essential for firms undertaking ...
Chartered Accountants
DPDP Act Explained for Chartered Accountants:
RJA 14 Sep, 2026
DPDP Act Explained for Chartered Accountants: Here we explain how the Digital Personal Data Protection (DPDP) Act, 2023, applies specifically to Chartered Accountants (CAs), CA Firms, Tax Consultants, Auditors, and Professional Service Firms. The main message is that a CA firm can act either as a data fiduciary or a Data ...
AUDIT
Form 3CD -Clause 12: Presumptive Income & Deemed Profit Provisions
RJA 14 Sep, 2026
Form 3CD - Clause 12: Presumptive Income and Deemed Profit Provisions Clause 12 of Form 3CD requires the Tax Auditor to report whether the assessee has opted for any special presumptive taxation provisions under the Income-tax Act, where income is computed on a prescribed basis rather than on actual books of account. ...
AUDIT
Revision of Tax Audit Report under Rule 6G & Penalty : Explanation
RJA 13 Sep, 2026
Revision of Tax Audit Report under Rule 6G – Detailed Explanation The Income Tax Act permits revision of a tax audit report in certain specified situations. Earlier, there was no specific mechanism to revise a tax audit report after filing. However, pursuant to Notification No. 28/2021 dated 01.04.2021, a taxpayer can furnish ...
AUDIT
Form 3CA / 3CB Qualifications – Explanation for Tax Auditors
RJA 13 Sep, 2026
Form 3CA / 3CB Qualifications – Detailed Explanation for Tax Auditors A qualification in Form 3CA or Form 3CB is not a mere disclosure. It is a formal statement by the tax auditor highlighting material deficiencies, limitations, discrepancies, or lack of evidence that affect the auditor's ability to express an ...
FCRA
FCRA 2010 (Incorporating Amendments up to June 2026)
RJA 12 Sep, 2026
FCRA 2010 (Incorporating Amendments up to June 2026) Comprehensive analysis of the Foreign Contribution (Regulation) Act, 2010 (FCRA), including the major amendments introduced through the 2024, 2025, and 2026 Rules. It also distinguishes between provisions that are currently in force and those merely proposed under the pending FCRA Amendment Bill, 2026. 1. Purpose of FCRA: The objective of ...
NGO
Taxation of Unregistered NPOs: Can NGO Be Taxed on Net Income/Gross Receipts?
RJA 12 Sep, 2026
Taxation of Unregistered NPOs: Can Charitable Trusts Be Taxed on Net Income Instead of Gross Receipts? Introduction The taxation of charitable and religious organizations has undergone significant changes with the transition from the Income-tax Act, 1961 to the Income-tax Act, 2025. While registered charitable institutions continue to enjoy the benefits of exemption ...
Chartered Accountants
ICAI UDIN:Understanding of 60 Tax Audit Limit & Field-Level Validation
RJA 12 Sep, 2026
ICAI UDIN : Understanding of 60 Tax Audit Limit & Field-Level Validation The UDIN Directorate of ICAI has introduced field-level validation on the UDIN portal for tax audit assignments under Section 44AB of the Income Tax Act. This means that while generating a UDIN for a tax audit report, members will not ...
INCOME TAX
Comparative penalty provisions under the ITA 1961 vs ITA 2025.
RJA 05 Sep, 2026
Major penalty provisions Income Tax Act, 2025 vs. Income Tax Act, 1961 The Income Tax Act, 2025, is largely a restructuring and renumbering exercise, with most penalty provisions continuing without major changes. Most penalty provisions are renumbered rather than substantially amended. Section 271AAC (unexplained income penalty) has been omitted. Crypto-asset reporting penalties were ...
INCOME TAX
Residential Status & DTAA Framework: A Comprehensive Guide
RJA 04 Sep, 2026
Residential Status & DTAA Framework: A Comprehensive Guide Under this blogs, we are going to discuss the residential status of individuals and the residential status of entities. We will explain in Place of Effective Management (POEM) Residential Status & DTAA Framework With increasing globalization, individuals are working across ...
Income tax return
Taxation of Exchange Traded Funds (ETFs) in India
RJA 30 Aug, 2026
Taxation of Exchange Traded Funds (ETFs) in India The tax treatment of Exchange Traded Funds (ETFs) depends on the underlying asset (equity, gold, silver, debt, etc.) and the holding period. The classification determines whether the gain is taxed as a Short-Term Capital Gain (STCG) or a **Long-Term Capital Gain (LTCG).** ...
Chartered Accountants
ICAI Expands Bulk UDIN Facility for CA's: Key Features & Process
RJA 30 Aug, 2026
ICAI Expands Bulk UDIN Facility to Tax Audit and Audit & Assurance Functions In a major step towards simplifying compliance and improving efficiency for chartered accountants, the Institute of Chartered Accountants of India (ICAI) has extended the Bulk UDIN Generation Facility to tax audit and audit & assurance functions. Previously, ...
INCOME TAX
CBDT Targets Form 15CB / Form 146 Certifications & Foreign Remittances
RJA 30 Aug, 2026
CBDT Sharpens Focus on Form 15CB / Form 146 Certifications and Overseas Remittances The Central Board of Direct Taxes (CBDT) has significantly intensified its scrutiny of overseas remittances and the professional certifications supporting them. Through a nationwide verification initiative announced on 18 August 2026, the Income Tax Department has targeted hundreds of entities involved ...
Chartered Accountants
Can a CA Claim 44ADA on Remuneration Received as a Working Partner?
RJA 29 Aug, 2026
Can a CA Claim 44ADA on Remuneration Received as a Working Partner? Background of the Case The assessee, a CA & working partner in a chartered accountant firm, received approximately INR 27 lakh as remuneration from the partnership firm. Being a qualified CA holding a valid Certificate of Practice (COP), he ...
Crypto
FIU-IND Guidance for Principal Officer (PO) of VDA SPs
RJA 27 Aug, 2026
FIU-IND Guidance for Principal Officer (PO) of Virtual Digital Asset Service Providers (VDA SPs) The "Guidance for Principal Officer (PO) for Virtual Digital Asset Service Providers (VDA SPs) Sector - Minimum Requirements and Qualifications," issued on 25 February 2025 by the Financial Intelligence Unit - India (FIU-IND) under the ...
GST Filling
GST Late Fee in 2026: Guide to Late Filing Fees Under GST
RJA 25 Aug, 2026
GST Late Fee in 2026: Complete Guide to Late Filing Fees Under GST Timely filing of GST returns is one of the most critical compliance requirements for registered taxpayers. Failure to file GST returns within the prescribed due dates can attract late fees U/s 47 of the Central Goods and Services ...
AUDIT
Highlighted of Major Changes in Tax Audit (FY 2025-26 / AY 2026-27)
RJA 21 Aug, 2026
Tax Audit Limits: Income Tax Act, 1961 vs. Income Tax Act, 2025 With the transition from the Income Tax Act, 1961, to the Income Tax Act, 2025, many professionals were expecting a major shift in tax audit limits. The good news? Core thresholds remain unchanged. Under this blog are major changes in ...
AUDIT
Mandatory Sample AS disclosure for non-company MSME financials of 2025-26
RJA 20 Aug, 2026
Detailed Explanation of MSME Accounting Standards Framework for Non-Company Entities Based on ICAI Compendium of Accounting Standards (1 April 2025) An accounting policy disclosure that an LLP can include in its financial statements when it qualifies as a micro, small, and medium enterprise under the Institute of Chartered Accountants ...
COMPANY LAW
All about Annual Filing of Companies under the Co.Act, 2013
RJA 18 Aug, 2026
All about Annual Filing of Companies under the Companies Act, 2013 Overview of Annual Filing Requirements Annual filing is a mandatory compliance requirement for every company registered under the Companies Act, 2013. Through annual filings, companies submit their financial statements, annual returns, and governance-related information to the Registrar of Companies (ROC) through ...
