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CHARTERED ACCOUNTANTS PENALTIES
ITR filing due dates for AY 2026-27: July 31 is not the deadline for every taxpayer; check 5 other tax filing due datesThe Income Tax Department has set July 31, 2026, as the deadline for most individual taxpayers, including the salaried class, to file their...- Can you sell household items worth more than Rs 2 lakh in cash? Check the tax rulesA woman successfully challenged the Income Tax Department's addition of Rs 10.80 lakh as unexplained cash. The ITAT Chennai ruled in her fa...
- Namami Gange: Industrial pollution flowing into Ganga down nearly 60 per cent since 2017Industrial pollution in the Ganga has significantly decreased by almost 60 percent since 2017. This achievement is credited to the Namami G...
- ITR filing 2026: 5 benefits of filing income tax return besides paying taxesFiling your Income Tax Return is more than just a tax duty. It acts as a vital financial record. It helps in getting loans approved. You ca...
- SC order turns up tax heat on old benami transactionsThe Supreme Court has ruled that tax authorities can retroactively apply the benami law to confiscate assets from transactions predating 20...
- Failed to report US stocks gained via ESOP? Use this one-time Amnesty scheme; Know how it worksA one-time amnesty scheme, the FAST-DS, has been introduced to help Indian residents and NRIs resolve past non-compliance with reporting fo...
- Has the GSTR-3B return filing due date for the March 2026 tax period been extended?Tax professionals are struggling to file GSTR-3B for March 2026. The GST portal is experiencing significant slowdowns, preventing logins an...
- Employee fined Rs 10 lakh over lack of ESOP disclosure in ITR; here's why ITAT Chennai cancelled itAn Indian employee faced a Rs 10 lakh penalty for not disclosing foreign ESOPs in his Income Tax Return. The Income Tax Appellate Tribunal,...
- Rs 20,000 at 25 vs spending lakhs at 45?: CA breaks down an important compounding truthStarting investments early significantly boosts retirement savings. Nitin Kaushik, a Chartered Accountant, highlights that delaying financi...
- ICAI steps up disciplinary actions against errant chartered accountantsThe Institute of Chartered Accountants of India (ICAI) has ramped up disciplinary actions against its members, with over 200 hearings condu...
- Maharashtra extends deadline for submission of audited accounts by charitable trustsMaharashtra: The deadline for filing audited accounts for specified trusts in Maharashtra state is extended to December 31, 2024. "If trust...
- Supreme Court upholds NFRA's 10-year ban and Rs 20 lakh fine for auditor Anil Chauhan over Seya Industries' misconductThe Supreme Court upheld the National Financial Reporting Authority's 10-year audit ban and Rs 20 lakh penalty on Anil Chauhan for miscondu...
- Audit regulator NFRA slaps Rs 50 lakh penalty on chartered accountant for lapsesHighest penalty of Rs 50 lakh in recent years was slapped by NFRA on a chartered accountant for professional misconduct that enabled busine...
- NCLAT upholds NFRA penalty on DHFL auditorsThe National Company Law Appellate Tribunal has upheld the penalty imposed by the National Financial Reporting Authority (NFRA) on auditors...
- What is the penalty for not getting income tax audit done when mandatory?An income tax audit report has to be mandatorily uploaded on the income tax return (ITR) portal by September 30 for those who are required ...
- House panel dismisses ICAI objections, endorses billAnother concern raised by ICAI is the bill seeks to dilute the representation of professional bodies in the composition of the respective d...
- ITR filing: No penalty if you file by midnight today and revise later if neededAccording to current income tax laws, there is no fees or penalty for revising your income tax return within the prescribed time limits.
- Punished auditors involved in Satyam case; no powers to act against CA firms: ICAIOn Wednesday, Sebi imposed a two-year ban on Price Waterhouse network entities from issuing audit certificates to any listed company in Ind...
- After PM Modi's veiled warning, many chartered accountants are running for coverCriticising ICAI's disciplinary record, PM Modi said just 25 rogue auditors had faced action in over a decade and around 1,400 cases were p...
- Expert advice is not an excuse to avoid penalty for claiming false deductions: I-T tribunalAn income-tax tribunal has held that a company cannot avoid paying penalty for claiming false deduction on grounds that its claim was suppo...
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