No service tax leviable on transactions between purchaser of lottery tickets and Government of Sikkim – Supreme Court  In a recent judgment, Hon’ble Supreme Court has held that there being no agency and no service rendered by the sellers/distributors as an agent to the Government of Sikkim, …
SEBI fixes responsibility for use of artificial intelligence and machine learning tools and techniques SEBI has notified he Securities and Exchange Board of India (Intermediaries) (Amendment) Regulations, 2025 to regulate use of artificial intelligence The Securities and Exchange Board of India (Intermediaries) Regulations, 2008 has been amended by …
Without recalling earlier order, fresh rectification order u/s 154 can not be passed In a recent judgment, Allahabad High Court has quashed second rectification order u/s 154 which was passed without recalling the earlier order passed u/s 154 ABCAUS Case Law Citation:4409 (2025) (02) abcaus.in HC In the …
Annual Statement u/s 285 by a non-resident to be furnished within eight months Under section 285 of the Income Tax Act, 1961 (the Act) every person, being a non-resident having a liaison office in India set up in accordance with the guidelines issued by the Reserve Bank of …
Possibility of initiating proceedings against an assessee cannot be kept pending over his head like a Damocle’s sword – Penalty u/s 271B quashed by High Court In a recent judgment, the Hon’ble Kerala High Court has quashed penalty u/s 271B observing that the possibility of initiating proceedings against …
There is no provision in Income Tax Act for discounting the time spent during the pendency of proceedings against the deceased assessee while computing the limitation period for initiating the proceedings against his Legal Representatives. In a recent judgment, the Hon’ble Karnataka High Court has held that there …
Without recalling earlier order, fresh rectification order u/s 154 can not be passed In a recent judgment, Allahabad High Court has quashed second rectification order u/s 154 which was passed without recalling the earlier order passed u/s 154 ABCAUS Case Law Citation:4409 (2025) (02) abcaus.in HC In the …
Annual Statement u/s 285 by a non-resident to be furnished within eight months Under section 285 of the Income Tax Act, 1961 (the Act) every person, being a non-resident having a liaison office in India set up in accordance with the guidelines issued by the Reserve Bank of …
Possibility of initiating proceedings against an assessee cannot be kept pending over his head like a Damocle’s sword – Penalty u/s 271B quashed by High Court In a recent judgment, the Hon’ble Kerala High Court has quashed penalty u/s 271B observing that the possibility of initiating proceedings against …
Procedure to be followed in department appeal filed against interest and/or penalty only, related to Section 128A of the CGST Act, 2017 CBIC has issued Instruction No. 02/2025-GST dated 07.02.2025 specifying procedure to be followed in department appeal filed against interest and/or penalty only, related to Section 128A …
EWB generation facility for goods under Chapter 71 withdrawn. Clarification on E-Way Bill Requirement for Goods under Chapter 71 – GSTN Advisory EWB generation facility for goods under Chapter 71 withdrawn Rule 138(14) of the Central Goods and Services Tax (CGST) Rules, 2017, read with its Annexure S.Nos. …
Late fee u/s 47(2) of the CGST Act 2017 is leviable for the delay in furnishing of both Form GSTR-9 and Form GSTR-9C . CBIC clarification on applicability of late fee for delay in furnishing of Form GSTR-9C CBIC has issued Circular No. 246/03/2025-GST dated 30.01.2025 for clarification …
MCA extends date for filing Form CSR-2 for the financial year 2023-2024 to 31.03.2025 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 31st December, 2024 G.S.R. 794(E).— In exercise of the powers conferred by sub-sections (1) and (3) of section 128, sub-section (3) of section 129, section 133, …
MCA appoints four Judicial Members and Technical Members appointed in National Company Law Appellate Tribunal MINISTRY OF CORPORATE AFFAIRSNOTIFICATION New Delhi, the 25th September, 2024 S.O. 4196(E).—In exercise of the powers conferred by section 410 of the Companies Act, 2013 (18 of 2013) read with sub-section (2) of …
MCA relaxes time for producer companies for dematerialisation of securities. The Companies (Prospectus and Allotment of Securities) Amendment Rules, 2024 MCA has notified the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2024 giving relaxation of time to producer companies in dematerialisation of securities MINISTRY OF CORPORATE AFFAIRS …
No service tax leviable on transactions between purchaser of lottery tickets and Government of Sikkim – Supreme Court  In a recent judgment, Hon’ble Supreme Court has held that there being no agency and no service rendered by the sellers/distributors as an agent to the Government of Sikkim, …
Without recalling earlier order, fresh rectification order u/s 154 can not be passed In a recent judgment, Allahabad High Court has quashed second rectification order u/s 154 which was passed without recalling the earlier order passed u/s 154 ABCAUS Case Law Citation:4409 (2025) (02) abcaus.in HC In the …
Possibility of initiating proceedings against an assessee cannot be kept pending over his head like a Damocle’s sword – Penalty u/s 271B quashed by High Court In a recent judgment, the Hon’ble Kerala High Court has quashed penalty u/s 271B observing that the possibility of initiating proceedings against …
ICAI (Merger & Demerger of CA firms) Guidelines 2024 has been notified by the ICAI w.e.f. 31.01.2025 The guidelines provides for the modalities of mergers of CA firms to encourage and develop core competencies and to render professional services on a much larger geographical scale. As per guidelines, …
ICAI has hosted Draft Bank Branch Auditors’ Panel (MEF) of Chartered Accountants/firms for the year 2024-25 The Draft Bank Branch Auditors’ Panel (MEF) of Chartered Accountants/firms for the year 2024-25 prepared as per the RBI Norms dated 6th March, 2023 has been hosted at www.meficai.org The following details …
ICAI (Aggregation of LLPs) Guidelines 2024 notified by ICAI Â The Council of the Institute of Chartered Accountants of India (ICAI) has notified ICAI (Aggregation of LLPs) Guidelines 2024 w.e.f. 28.01.2025 The guidelines provide eligibility, governing provisions, registration, practice, re-constitution and exit rules for aggregation of LLPS among …
Excel Old vs New Tax Regime Calculator to compare Tax under old and new Personal Tax Regime u/s 115BAC for AY 2025-26. Old vs new tax regime calculator in excel. Release of excel tax calculator for New Tax Regime for AY 2025-26. This Excel Calculator utility has been …
Excel Auto 234ABC Interest Calculator for AY 2024-25 with accurate calculation as per revised provisions. Download for Corporate and Non-corporate Assessees Section 234A, 234B and 234C of the Income tax Act, 1961 deals with interest for delay in ITR Filing or Short/Non deposit of Advance tax. Interest is …
Excel Income Tax Challan ITNS 280 for FY 2024-25 AY 2025-26 with database facility. Download ABCAUS Income Tax payment Challan No. ITNS 280Â This excel Challan ITNS 280 for payment of Income Tax should be used for making payment of income tax on companies (corporation tax) or income …
Central Bank of India Concurrent audit online empanelment for financial year 2025-26. Last Date for filing Online Applications is 15.02.2025 Central Bank of India Concurrent audit online empanelment 2025-26 Central Bank of India invites online applications from practicing CA Firms and Ex-Staff for assigning concurrent audit of its …
Application invited for empanelment of advocates in Income Tax Department Gujarat Income Tax Department Gujarat has invited applications from practicing advocates to represent the Income tax department, Gujarat before the Courts of Sessions and its Subordinate Courts in Prosecution cases. Applications have been invited from practicing advocates, having …
Union Bank of India Empanelment of Concurrent Auditors FY 2025-26 for Partnership CA Firms. Union Bank of India invites applications from eligible/interested Chartered Accountant Partnership Firms for empanelment as Concurrent Auditors for conducting Concurrent Audit in the identified Branches / Offices for the financial year 2025-26 Last date …
For export of Lab Grown Diamonds (HPHT/CVD) weighing less than one carat, declaration of additional qualifiers will only be voluntary – CBIC Mandatory additional qualifiers in import/export declarations in respect of Synthetic or Reconstructed Diamonds. CBIC vide Circular No. 21/2024-Customs dated 30.10.2024 had advised importers/exporters for the mandatory …
CENVAT Credit can not be denied on the ground that input was not liable to excise duty when the supplier wrongly paid the duty In a recent judgment, Bombay High Court has held that CENVAT Credit can not be denied on the ground that such input was not …
Implementation of automation in the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 F. No. 450/28/20 l6-Cus-IVGovernment of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Indirect Taxes & Customs) Circular No. 25/2024-Customs North Block, New DelhiDated: 21 of November, 2024 …
RBI has not instructed banks to require CA certificate on unaudited Financial Statements or certify identity and address of a loanee. Reserve Bank of India, reply to an application filed by CA Pranav Pramod Ashtikar under Right to information Act (RTI) 2005, has clarified about banks/financial institutions requiring …
ICAI debars seven chartered accountants for charges of professional misconduct ICAI has held seven Chartered Accountants guilty of committing Professional Misconduct as defined in CA Regulations and has debarred them for prescribed period by ordering removal of their name from the register of members and also penalising them …
Chartered Accountants guilty of misconduct on bringing disrepute to the profession whether or not related to his professional work – Delhi High Court confirms penalty in set aside proceedings In 2018 Supreme Court had over ruled the judgment of Delhi High Court and held that a Chartered Accountants …