Sandhya Rani and Associates- Chartered Accountant Services

ITR-1, ITR-2 & ITR-4 for AY 2026–27/FY 2025-26 is now live

ITR FLOW CHART

TDS Confusion 🙄nowadays

Institute of Chartered Accountants of India (ICAI) has issued a set of Frequently Asked Questions (FAQs) clarifying the implementation of the ceiling on Tax Audit assignments through the Unique Document Identification Number (UDIN) system. The said ceiling has been notified under the “Chartered Accountants (Limit on Number of Tax Audits) Guidelines, 2025”, as published in the Gazette of India, and shall come into force with effect from April 1, 2026.

FUEL PRICES HIKED AGAIN IN INDIA

▪️ Petrol price increased by ₹0.86/litre
▪️ Diesel price increased by ₹0.83/litre

📈 This comes just days after the recent ₹3/litre hike announced earlier.

⚠️ Second fuel price increase in less than a week.

Rising fuel prices may further impact transportation costs, logistics, inflation and daily household expenses across the country.

My opinion 👇🏻

*Ministry of Finance's clarification on false claims on monetisation of temple gold holdings*

👉 Speculation and rumours suggesting that the Government is planning to introduce monetisation scheme for Gold held by temple trusts, or any religious institution, across the country are completely false, misleading and without any basis.

BIG CHANGES IN UDIN PORTAL FOR TAX AUDITS

ICAI has introduced major updates in the UDIN portal relating to Tax Audit Reports (TARs) 👇

📌 Key Changes:

✅ New checklist added for Section 44AB(e) while generating UDIN
→ Aimed at strict identification of applicability & preventing misuse of tax audit limits.

✅ Additional details now required in UDIN particulars:
• Whether TAR is Original or Revised
• UDIN of Original TAR (if revised)
• Whether assignment relates to Head Office or Branch

✅ New UDIN Dashboard introduced
→ Separate display of:
• Total Tax Audit Count
• Remaining Tax Audit Count

⚠️ Important update for all practicing CAs handling tax audits.