CAclubindia News

New Tax Residency Certificate Application Format Proposed Under Section 159

20 February 2026 at 06:57

Draft Form No. 42 proposes a structured format for applying for a Tax Residency Certificate under Section 159, detailing applicant information, residency basis, and supporting documents.

Posted in Income Tax | 564 Views

GSTN Rolls Out New IMS Tab to Track Rejected Notes for GSTR-3B

20 February 2026 at 06:57

GSTN has introduced a new "Rejected Records" tab in the IMS dashboard to help taxpayers easily track rejected credit and debit notes requiring liability add-back in GSTR-3B, reducing errors and easing compliance.

Posted in GST | 936 Views

No AI Surveillance Under Section 247: Finance Ministry Clears Confusion Over New Tax Law

19 February 2026 at 09:08

Section 247 of the Income Tax Act 2025 explained: Govt says no new authority or AI monitoring powers for tax officials. Read key details!

Posted in Income Tax | 3378 Views

RBI Issues Final Directions on Unique Transaction Identifier for OTC Derivatives

19 February 2026 at 08:10

The Reserve Bank of India has issued final directions on the Unique Transaction Identifier (UTI) for OTC derivative transactions after reviewing stakeholder feedback, aiming to enhance transparency and global aggregation of market data.

Posted in Others | 132 Views

ICAI: UDIN Validation Now Based on Five Parameters Including PAN

19 February 2026 at 08:10

ICAI announces PAN as a mandatory field for UDIN generation under GST & Tax Audit. UDIN validation on CBDT e-Filing portal will now be based on five parameters from February 2026.

Posted in Income Tax | 5655 Views

Govt Rejects 'Multi-Layered Tax Burden' Claims: Finance Ministry Cites Low Tax-to-GDP Ratio

19 February 2026 at 08:09

The government has rejected claims of excessive multi-layered taxation, stating India's tax-to-GDP ratio remains among the lowest in the G20 while highlighting GST rationalisation and ongoing tax reforms aimed at simplification and compliance.

Posted in Income Tax | 1500 Views

Section 112 GST Appeals: New Guidance Issued on Online Filing Challenges

19 February 2026 at 08:09

Public Notice No. 02/2025-26 issued by the GST Appeals Commissionerate in Chennai clarifies timelines and grievance redressal for filing appeals before the GSTAT amid APL-04 portal issues under Section 112 of the CGST Act, 2017.

Posted in GST | 519 Views

ICAI Reprimands CA for Filing Unsigned Financial Statements with MCA in AOC-4

18 February 2026 at 09:15

ICAI Disciplinary Committee reprimands CA for certifying unsigned financial statements filed in Form AOC-4, holding him guilty of professional misconduct under CA Act, 1949.

Posted in Corporate Law | 1 comments | 5292 Views

ICAI Introduces UDIN Ceiling & Field-Level Validation for Section 44AB Tax Audits from 1st April 2026

18 February 2026 at 09:06

ICAI announces field-level validation for all Section 44AB sub-categories and caps UDIN generation as per 60 tax audit limit from April 1, 2026. Read full details.

Posted in Income Tax | 6441 Views

Recognised Stock Exchange Criteria Tightened Under Draft IT Rules 2026

18 February 2026 at 07:09

Stock exchanges must maintain audit trails, prevent transaction erasure, record PAN and UCC, and submit monthly reports to DGIT under new Rule 4 of Draft IT Rules 2026.

Posted in Income Tax | 1743 Views