Rajput Jain & Associates - Chartered Accountants in Delhi - Updates on GST, Taxation and Company Laws

ICAI Guidance on Auditors Examining VDA Transactions The ICAI Exposure Draft expects auditors to examine VDA transactions through existing Form 3CD clauses and proposed VDA-specific disclosures. The objective is to ensure that crypto, NFTs, tokenized carbon credits, and DeFi transactions are properly reported and reconciled. Form 3CD Clause-by-Clause Verification for VDAs For...

ICAI Exposure Draft (9 July 2026) on Tax Audit Guidance Note The ICAI Direct Taxes Committee has released an exposure draft proposing revisions to the Guidance Note on Tax Audit under Section 44AB of the Income Tax Act, 1961. Comments were invited up to 25 July 2026. Importantly, this is expected to be the last …

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Summary of the Proposed Amendments to the IBBI Liquidation Regulations (2026)   The document proposes major changes to India’s liquidation framework under the Insolvency and Bankruptcy Code (IBC) following the Insolvency and Bankruptcy Code (Amendment) Act, 2025. The overall objective is to make liquidation faster, more creditor-driven, and aligned with the new statutory time...

India has consistently maintained that the power to enact laws rests exclusively with its Parliament, acting within the framework of the Constitution and guided by the country’s democratic processes. As a sovereign nation, India believes that its domestic legislation should be assessed on the basis of its own legal standards, institutional mechanisms, and national priorities,...

Alternative (lower) tax regimes are available to assessees other than individuals/HUFs under the Income Tax Act. What does it mean? The Income Tax Act offers certain companies and co-operative societies the option to pay tax at concessional tax rates under special provisions. However, these regimes are not the default tax regime. An eligible taxpayer must …

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