ICAI Expands Mandatory Applicability of AQMM: Key Changes Under Version 2.0 Explained

CA Mohan Bhagwat CA · 5h

CA (ICAI)

ICAI has expanded AQMM applicability under Version 2.0, making it mandatory for more audit firms, including those auditing group entities and large unlisted companies. Phased implementation begins from April 1, 2026, aiming to enhance audit quality.

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Attachment

ICAI Reverts CA Final Exams to Twice a Year from May 2026: What Changes and Why It Matters

CA Mohan Bhagwat CA · 3h

CA (ICAI)

ICAI has decided to conduct CA Final exams twice a year (May & November) from 2026, reversing the earlier move of three attempts annually. The change reflects stakeholder feedback and aims to balance opportunity with quality and exam management.

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ICAI Tightens UDIN for Tax Audits: What Field-Level Validation Under Section 44AB Means From 1 April 2026

CA Karan Malhotra CA · Apr 5

Audit

From 1 April 2026, the ICAI UDIN portal enforces field-level validation across all sub-clauses of Section 44AB, requires PAN as a mandatory input, and caps tax audit UDINs at 60 per partner. A practical walk-through of what has changed, why, and how the tax audit workflow needs to adjust.

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ICAI Introduces BAA Certificate for CA Intermediate Students: A Major Step Towards Professional Recognition

CA Priya Sharma CA · 1d

General

ICAI launches BAA Certificate for CA Intermediate students, offering formal recognition after clearing both groups. This boosts job opportunities, validates articleship experience, and allows students to continue CA Final alongside professional growth.

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Proposed Restriction on Big Four Audits in Sensitive Sectors — PMO Evaluating Major Policy Shift

CA Vikram Mehta CA · 4d

Audit

PMO is considering restricting Big Four firms from auditing sensitive sectors due to data security concerns. ICAI has been asked to strengthen domestic audit capacity. Final decision is awaited.

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Section 194T: TDS on Payments to Partners — What Changed From April 2025

CA Vikram Mehta CA · Mar 30

Income Tax

From 1 April 2025, partnership firms and LLPs must deduct 10% TDS on salary, remuneration, interest, bonus and commission paid to partners if aggregate payments exceed Rs 20,000 in a year. Here is what you need to know.

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ITC Can Only Be Claimed If It Appears in GSTR-2B

CA Priya Sharma CA · Feb 18

GST

GST ITC can be claimed only if the invoice appears in GSTR-2B. Since 1 January 2022, no provisional ITC is allowed under Rule 36(4).

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Section 43B(h): Pay MSME Suppliers Within 45 Days or Lose the Tax Deduction

CA Sneha Joshi CA · Feb 8

Income Tax

Section 43B(h) disallows expense deduction if payments to micro and small enterprise suppliers are not made within 15 or 45 days. Applies from AY 2024-25.

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Section 80C: Key Tax-Deductible Investments and Expenses for FY 2025-26

CA Deepak Jain CA · Jan 30

Income Tax

Claim up to Rs 1.5 lakh deduction under Section 80C with PPF, ELSS, NSC, FD, EPF and more. Full eligible investments list.

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HSN Code in GST Invoices: When Is 4-Digit or 6-Digit Mandatory

CA Priya Sharma CA · Feb 5

GST

Learn when 4-digit or 6-digit HSN codes are mandatory in GST invoices based on turnover thresholds and Table 12 GSTR-1 rules.

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Advance Tax Due Dates for FY 2025-26: Installments, Rates, and Interest

CA Vikram Mehta CA · Feb 25

Income Tax

Know advance tax due dates for FY 2025-26 — installments, percentages, and interest under Section 234B and 234C explained.

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Section 44AB Tax Audit: Who Needs It and What Are the Turnover Limits

CA Karan Malhotra CA · Mar 5

Audit

Section 44AB tax audit applies if your business turnover exceeds Rs 1 crore or professional receipts cross Rs 50 lakh. Here are the limits and penalties.

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TDS Return Filing: Form 24Q, 26Q and 27Q Due Dates for FY 2025-26

CA Pooja Verma CA · Feb 28

Income Tax

TDS return filing guide: Form 24Q, 26Q, 27Q due dates for FY 2025-26, penalties, and how to file quarterly returns.

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Section 80D Deduction: Health Insurance Premium Limits for 2025-26

CA Deepak Jain CA · Feb 10

Income Tax

Claim up to Rs 1 lakh under Section 80D for health insurance premiums and medical expenses — know the limits and eligibility.

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GSTR-9 Annual Return FY 2024-25: Exemptions, Due Date and Late Fee Slabs

CA Sneha Joshi CA · Feb 3

GST

GSTR-9 annual return for FY 2024-25 — who must file, Rs 2 crore exemption, due date, GSTR-9C changes, late fee slabs and FAQs.

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