ICAI has issued new Guidelines to limit the number of Tax Audit Assignments. The existing limit of 60 tax audit assignments per member is retained. However As per the New Guidelines limit on number of tax audit assignments per partner in a CA Firm cannot be distributed/or shared between the partners. This Guidelines will be…
Read moreGuidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961(Revised 2025) Edition
The Direct Tax Committee of The Institute of Chartered Accountants of India has brought out the Revised 2025 Edition of Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961. This Revised Edition Considers the recent changes in Form No. 3CD and amendments by the Finance (No. 2) Act, 2024 and Finance…
Read moreNo Higher Tax Deduction for inoperative PAN till 30th September 2025
No Higher Tax Deduction for inoperative PAN till 30th September 2025 In case a person is failed to Link Aadhar with PAN shall face Consequence of higher deduction of TDS as a result of inoperative PAN. With a view to redressing the grievances CBDT vide circular Number 09/2025 dated 21st July 2025, specified that for…
Read moreSIRC Election – Know your Polling Booth
To know your polling Booth, Click below: https://knowyourbooth.icai.org
Read moreHow to Apply for Peer Review
the significance of obtaining a Valid Peer Review Certificate is growing steadily, especially for practice units to whom Peer Review is applicable. Why Peer Review is Important?In case of a Practice Unit to which Peer Review is applicable, there is a pre-requisite of having Peer Review Certificate before accepting any Audit. Without Valid Peer Review…
Read moreKey Changes in TDS Rates with effect from 01st October,2024
The Following are some of the significant changes to the TDS provisions enacted by the Finance (No.2) Act 2024. These changes will take effect on October 1, 2024.
Read moreRCM on Renting of Property W.e.f 10th October 2024
The Central Government vide Notification No. 09/2024 has extended the applicability of Reverse Charge Mechanism to Service by way of Renting of any property other than residential dwelling with effect from 10th October 2024. Supplier The Building or Property owner who is unregistered under The GST Act Recipient Any Person Registered under The GST Act….
Read moreICAI Election 2024 – Mobile phones are Prohibited
Mobile phones are strictly prohibited in the secret chamber. Voters are required to leave their mobile phones outside the Secret Chamber. Furthermore, Videography and Photography using mobile phones, cameras, or any electronic devices are strictly prohibited within the premises of the Polling center. for the Notification – Click below https://www.icai.org/post/imp-advisory-to-all-voters-icai-election-2024
Read moreOPTION TO GET POLLING BOOTH RE-ALLOTED
ICAI has hosted Online filing of request form for change of polling booth in the same constituency (Rule 5) or in a city beyond one’s own constituency [Rule 6(2)] Last Date For online filing of request form for change of polling booth, Click here https://changebooth.icai.org To know your allotted polling booth, Click here: https://knowyourbooth.icai.org/
Read moreDue Date of Filing Audit Reports Extended to 07th October 2024.
The CBDT Vide Circular No.10/2024, has extended the Due date for filing of reports of Audit for the Previous year 2023-24, which was on 30th September 2024, in the case of assessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, to 07thOctober 2024. For the Circular No.10/2024,…
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