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