Nearly 1.20 lakh out of 5 lakh ICAI members are at risk of losing their Membership and Certificate of Practice (COP) due to non-payment of annual fees for 2025-26. The Institute has set a firm deadline of September 30, 2025, after which memberships will be automatically cancelled. This will result in immediate loss of practice rights, audit signing authority, and professional standing. Members can pay securely through the ICAI eServices portal using multiple payment options including UPI, net banking, and cards. With just days remaining, immediate action is essential to avoid cancellation and the hassle of reactivation procedures.

October is a crucial month for tax professionals and businesses in India, with multiple compliance deadlines across GST, TDS/TCS, ROC filings, income tax returns, and employee contributions. This blog provides a clear and actionable checklist to help you stay compliant, avoid penalties, and manage your filings efficiently.

The Goods and Services Tax Network (GSTN) has significantly revamped its refund system, introducing a unified application form (RFD-01), enhanced document uploads, real-time tracking, and integration with PFMS for faster disbursements. This blog details these crucial updates, explaining how they streamline the refund process for taxpayers, promote transparency, and minimize delays, ensuring timely receipt of their legitimate refunds.

The FY 2025-26 brings crucial changes for partnership firms & LLPs regarding partner remuneration. This blog decodes the new, increased deduction limits under Section 40(b) and the mandatory TDS introduction via Section 194T on payments to partners. It covers who's a working partner, the role of the partnership deed, and essential compliance steps for firms.

This blog post explains the new Section 194T of the Income Tax Act, which takes effect on April 1, 2025. It requires TDS on payments such as salary, remuneration, commission, bonus, and interest made by partnership firms and LLPs to their partners. The post outlines the 10% TDS rate (20% without a PAN), the ₹20,000 annual threshold, and the timing for deduction. It also clarifies which payments are exempt, including capital withdrawal, profit share, and expense reimbursement. Additionally, the post offers a checklist for firms and partners to ensure compliance and avoid penalties.

This blog post serves as a comprehensive yet easy-to-understand guide for individuals in India facing unemployment and considering Provident Fund (PF) withdrawal. It clearly outlines the two main withdrawal options based on the duration of unemployment (75% after 1 month, 100% after 2 months) and provides a step-by-step walkthrough of the online application process via the EPFO portal. The article meticulously details essential prerequisites like active UAN and updated KYC (Aadhaar, PAN, Bank) and critically explains the tax implications of PF withdrawals, especially for those with less than five years of continuous service. It also covers common reasons for claim rejections and explores alternative financial strategies to consider before tapping into PF. The tone is empathetic and supportive, aiming to empower readers with the knowledge needed to manage their finances during a challenging period.

In 2025, EPFO rolled out 4 major reforms to modernize and simplify the Provident Fund system. These include a digital joint declaration system, simplified profile updates, auto PF transfers, and centralized pension payments. Learn how these changes benefit both employees and pensioners.

This blog explores how Indian taxpayers can maximise their income tax savings by leveraging both Section 80C and Section 80D of the Income Tax Act. While Section 80C focuses on investments and expenses like PPF, ELSS, and home loan principal repayment, Section 80D offers deductions on health insurance premiums and preventive health check-ups. By using these sections together, taxpayers can claim deductions up to ₹2,00,000 annually. The blog explains eligibility, deduction limits, strategic planning tips, and helps readers choose between the old and new tax regimes for optimal tax benefits.

The CBDT has released the updated ITR-Form 5 for Assessment Year 2025-26 (applicable to FY 2024-25) via Notification No. 42/2025 dated May 3, 2025. This blog post details who needs to file ITR-5, discusses anticipated key changes aligning with recent amendments and enhanced disclosure norms, outlines implications for taxpayers like Firms and LLPs, and provides actionable steps for compliance.

EPFO has significantly enhanced its claim settlement process in 2025, increasing the auto-claim limit to ₹5 Lakh, expanding its scope, removing the need for cheque/passbook uploads and employer approval for bank seeding, aiming for much faster processing (within 3 days for auto-claims). Updated KYC is crucial.

The EPFO has raised the automatic claim settlement threshold from ₹1 lakh to 5 lakh, benefiting 7.5 crore members by expediting PF withdrawals. Discover how this significant change minimizes processing time, removes the need for manual approvals, and enables employees to access funds in times of need.

A detailed month-by-month overview of statutory deadlines for Income Tax, GST, TDS, PF, ESI, and ROC submissions in the fiscal year 2025-26 (April 2025–March 2026) to guarantee compliance and prevent penalties.