ICAI Released Income Tax Act 2025 (As amended by Finance Act 2026) along with tabular mapping with old income tax act.
Direct Link 👇
https://t.co/Nw5OPbDh3K
#IncomeTax#CBDT#ITR
Cheque Bounce – Complete Process under the Negotiable Instruments Act, 1881 ⚖️
Step-by-step timeline you must know 👇🧵
1. Cheque Issued: -
➡️ A cheque is issued towards discharge of a legally enforceable debt or liability
2. Cheque Presented: -
➡️ Must be presented within 3 months from date on cheque
➡️ Presented to bank for clearing
3. Cheque Dishonoured ❌: -
➡️ Bank returns cheque unpaid due to reasons like:
➡️ Insufficient funds
➡️ Account closed
➡️ Payment stopped
4. Bank Memo Received: -
➡️ Payee receives cheque return memo mentioning reason for dishonour
5. Legal Notice (Within 30 Days) 📩: -
➡️ Demand notice must be sent within 30 days from date of dishonour
➡️ Notice demands payment of cheque amount
6. 15 Days Time to Pay ⏳: -
➡️ Drawer gets 15 days from receipt of notice to make payment
➡️ If paid → matter ends ✅
7. Cause of Action Arises: -
➡️ If payment NOT made within 15 days → offence is triggered
8. Complaint Filing (Within 30 Days) ⚖️: -
➡️ Complaint filed before Magistrate Court
➡️ Must be filed within 30 days from expiry of 15 days
9. Court Process Begins: -
➡️ Court issues summons
➡️ Accused appears and trial starts
10. Punishment 🚨: -
➡️ Imprisonment up to 2 years
➡️ OR fine up to 2x cheque amount
➡️ OR both
⚠️ Key Tip: -
➡️ Even a small procedural delay can kill your case
➡️ Timeline = everything in cheque bounce matters
RCM under GST - Master Chart (For FY 2026–27)
Covers all RCM entries with HSN/SAC, GST rate, relevant exemptions - in a simple tabular format.
💻 Must-have for daily use - keep it handy on your desktop!
👥 Includes effective date for each entry - useful for past adjudication & audits for CAs, tax professionals, staff, accountants & finance teams
🖨️ Want high-resolution, print-ready PDF/JPG? Follow and comment your mail ID — we’ll share it 👍
CBDT Chairman said refund delays are due to the Income Tax Department reviewing deduction claims, with processing expected by December.
Many taxpayers still haven't received refunds! Can we set a time limit in #Budget2026, like 1 to 3 months, to issue refunds? @nsitharamanoffc
✅Central Board of Direct Taxes (CBDT) has decided to extend the specified date for filing of various reports of audit for the Previous Year 2023-24, which was 30th September, 2024 in the case of assessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, to 07thOctober 2024.
✅Details available in CBDT Circular No. 10/2024 in 225/205/2024-ITA-II dated 29.09.2024 https://t.co/gcCQ1sudZB
@nsitharamanoffc@officeofPCM@FinMinIndia@PIB_India
When she wrote it and I felt it 💔
"It's about every young professional who joins EY filled with hopes and dreams, only to be crushed under the weight of unrealistic expectations"
A young CA pass out in Nov 2023 working at EY Pune just passed away, out of stress and her mother pen down this letter in grief .
@theicai@EYnews@nfrasocial
Mother of deceased CA in #pune of top #MNC@EY_India writes to chairman @rajivmemani accusing company's #WorkplaceCulture cost her life. No one from her company attended her funeral. The corporate and MNC work culture needs to be seriously looked into as work life balance is loosing relevance. The big fat pay check comes with stress and anxiety and facility of #WorkFromHome
while imposes deadline but diminishes concept of fixed working hours.
This is one of the worst roads of #Gurgaon#Gurugram
city sector 81 road . Cabs, school buses and delivery boys have boycotted the area around it The residents are sharing the plight begging for help each day whose responsible for this?
@OfficialGMDA@MORTHIndia
Will #HaryanaAssemblyElections2024 change anything? #Gaddhagram
What should we call this? River Facing or Sea Facing?
This is the condition of Roads in front of 100 crores #Camillias and #Magnolias in #GolfCourseRoad in #Gurgaon
This is the condition of roads in just half an hour rain and ppl here will still buy flats in 100 crores👏👏