Financial Services
Is ELSS Better Than PPF For My Tax Savings Goal?
RJA 25 Mar, 2026
Is ELSS Better Than PPF For My Tax Savings Goal? The Annual Tax-Saving Dilemma Every financial year, paid people and self employed workers face the same question when trying to claim expenses under Section 80C of the Income Tax Act. The Public Provident Fund and Equity Linked Savings Plans are ...
AUDIT
Comprehensive Practical Checklist Bank Branch Audit
RJA 23 Mar, 2026
Comprehensive Practical Checklist Bank Branch Audit A comprehensive bank branch audit involves Verifying cash, looking over loan advances (paperwork, NPAs), checking deposit KYC compliance, and looking for errors in profit and loss are all part of a thorough bank branch audit. Auditors are required to create the Long Form Audit ...
INCOME TAX
How AI Is Transforming in Tax Compliance in India
RJA 20 Mar, 2026
How AI Is Transforming in Tax Compliance in India India's tax administration is fast changing due to artificial intelligence, and this change is far more profound than most people know. Across the nation, artificial intelligence is enhancing taxpayer experience, decreasing evasion, and updating compliance. In India, artificial intelligence is ...
TDS
TDS/TCS Migration to New Sections (From 1 April 2026)
RJA 17 Mar, 2026
TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) Migration to New Sections (From 1 April 2026) Applicable for FY 2025–26, Visible in Returns from AY 2026–27 : The change must be applied from 1 April 2026 itself. Do not wait for AY 2026–27, the new deduction/collection codes & ...
OTHERS
Govt Notifies Changes in Registration Process for VDA Entities
RJA 11 Mar, 2026
Indian Government Notifies Changes in Registration Process for VDA Entities The Financial Intelligence Unit India (FIU IND) has introduced additional requirements for Virtual Digital Asset Service Providers (VDA SPs) seeking registration under the Prevention of Money Laundering Act, 2002 (PMLA). These changes, effective 20 January 2025, strengthen the regulatory framework governing crypto ...
Goods and Services Tax
GST ITC on Solar Power Plants – Sections & Case Law
RJA 10 Mar, 2026
GST ITC on Solar Power Plants – Sections, Notifications & Case Laws solar installation is not automatically treated as “building & installation.” : ITC eligibility depends on whether the solar system is considered “immovable property” or “plant and machinery.” Following are the Latest GST Position (...
Goods and Services Tax
All about LUT Filing for FY 2026–27
RJA 08 Mar, 2026
All about LUT Filing for FY 2026–27 Letter of Undertaking Under GST: Under Section 16 of the IGST Act, 2017, exports and supplies to Special Economic Zones (SEZs) are treated as zero-rated supplies, meaning exporters should not bear the burden of domestic taxes. By furnishing Form GST RFD‑11, an exporter formally undertakes ...
INCOME TAX
All about Advance Tax Under the Income-tax Act, 2025
RJA 05 Mar, 2026
All about Advance Tax Under the Income Tax Act, 2025 Advance tax refers to income tax paid in installments during the financial year on estimated income rather than paying it in a lump sum at year-end. Advance tax follows the self-assessment principle. The taxpayer himself must estimate income and pay advance ...
Goods and Services Tax
Overview about Profiteering under GST Law (India)
RJA 05 Mar, 2026
Profiteering (Incorrect – Profiteering) under GST Law (India) What Profiteering Means under GST: Profiteering under GST refers to a situation where a business does not pass on the benefit of a reduction in GST rates or input tax credit (ITC) to consumers by reducing prices. The objective of this rule ...
Goods and Services Tax
GST Year-End Compliance Summary (FY 2025-26 & Start of FY 2026-27)
RJA 05 Mar, 2026
GST Year-End Compliance Summary (FY 2025-26 & Start of FY 2026-27) As the financial year 2025-26 comes to an end and FY 2026-27 begins, businesses must review several GST compliance requirements, reconciliations, and regulatory decisions. This period is crucial for closing books properly, avoiding tax disputes, and preparing for ...
Income tax return
HRA Claim on Rent Paid to Parents Changing & How to Stay Compliant
RJA 04 Mar, 2026
House Rent Allowance Claim on Rent Paid to Parents: What’s Changing & How to Stay Compliant Why are verification notices increasing? Because the Income Tax Dept. now performs deeper cross-checks, including house rent allowance claimed by employees in the income Tax return, landlord's permanent account number (mandatory ...
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 ...
