ICAI FORMAT FOR NON CORPORATES
World Bank arm to invest USD 60 mn to transform sanitation infra in Visakhapatnam
International Finance Corporation has pledged support to Visakhapatnam. They will provide funds for sanitation. The funding amounts to USD 60 million. It will be used for the Madhurawada Sewerage System Project. This project aims to improve sanitation in Visakhapatnam. This is the first direct municipal financing by IFC in India. The project will transform sanitation infrastructure.
These large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of more than 25%
Are you looking at the Nifty to figure out whether to be bullish or bearish? If yes, cast your eye back to the day last year when the big correction started. Did all stocks start falling only after September 26, 2024, the day the indices peaked? No. Several stocks across segments began declining much before that day. The lesson: Focus on companies where the broader picture of growth is intact. And let the Nifty do what it is doing. Focus on the management, a key driver of earnings. Also, because GST rationalisation will likely impact earnings in a positive way, it is probably a good time to keep scepticism aside, but with conditions.
ITR filing deadline needs to be extended as portal glitch, Navratri, Dussehra festive season and new ICAI format for non-corporates, says RTCA
ITR filing due date: Tax consultants in Rajasthan are requesting an extension for the Income Tax Return filing deadline. They cite glitches on the e-filing portal as a major issue. The new format from ICAI for non-corporates is also causing delays. The festive season adds to the challenges. Associations want the deadline extended to November 15.
Extend income tax audit deadline due to ITR portal glitch, enhanced reporting needs: BCAS
The Bombay Chartered Accountants' Society (BCAS) has urged for extensions to income tax deadlines, citing persistent glitches on the e-filing portal. BCAS, along with other associations, highlighted challenges like delayed utility releases, technical bottlenecks, and overlapping deadlines. They propose extending deadlines for tax audit reports and ITR filings to alleviate taxpayer burden and ensure compliance quality.
Now even BJP CA cell asks for ITR deadline extension due to technical glitches, data mismatch on the ITR portal
The Bharatiya Janata Party (BJP) CA Cell in Pune has urged Finance Minister Nirmala Sitharaman to extend Income Tax Return (ITR) and tax audit deadlines, citing challenges like delayed utility releases, technical glitches on the income tax portal, and reduced working days due to festivals and heavy rains. Several other associations like BCAS, have also requested extensions due to similar difficulties.
How to get property Encumbrance Certificate? Here are the online and offline methods
An Encumbrance Certificate (EC) is a crucial legal document that confirms whether a property is free from financial liabilities such as loans, charges, or legal disputes. It helps to establish the title and is essential during property transactions, home loan approvals, and legal proceedings. The EC assures buyers or lenders that the property has not been sold, mortgaged, or otherwise encumbered during a specified period.
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Bihar: Nearly 5% submit non-listed documents with voters forms
In poll-bound Bihar, a significant number of electors submitted non-prescribed documents during the Special Intensive Revision, leading to potential exclusion from the final electoral roll. While local authorities are not accepting these documents, efforts are underway to assist individuals in obtaining valid proof. Notices have been issued to verify the authenticity of submitted documents, raising concerns about potential citizenship issues.
Manipur: Buzz on govt formation as BJP MLAs meet governor Ajay Kumar Bhalla
Ahead of Prime Minister Narendra Modi's anticipated visit to Manipur on September 13, political activity intensifies. Former Chief Minister N. Biren Singh and other BJP MLAs met with the governor, fueling speculation about a new government amidst President's rule.
Sandeep Goyal eyes Dentsu's non-Japanese ad business
Sandeep Goyal is in talks to acquire Dentsu's global business excluding Japan. The advertising giant's global operations are up for sale. Goyal sees this as a valuable opportunity. Dentsu's global business includes 66,000 employees across 143 countries. Goyal believes rebuilding the business into a profitable venture is possible. Major holding companies may not bid. Accenture could be a potential bidder.
Two Trades for Today: A pharma major for a 3.95% gain, a mid-cap hospitality stock for almost 7% gain
Technical analysis identifies select stocks that may gain momentum even in volatile markets. Here are the technical calls for today.
Oyo changes corporate entity name to Prism
Oravel Stays, parent of Oyo, has rebranded as Prism to reflect its global portfolio across hotels, vacation homes, and coworking spaces. Preparing for a third IPO attempt, the firm is targeting a $6–7 billion valuation. The company reported profits in FY24 and FY25 after earlier losses, despite a slight dip in operational revenue in FY24.
Maharashtra plans corporate-style revamp of govt resolutions to make them citizen-friendly
The Maharashtra government is planning a corporate-style makeover for its government resolutions (GRs), replacing legal text with attractive presentations. This redesign aims to make the documents more accessible and easier to understand for citizens. The initiative includes using bullet points, flowcharts, graphs, and color layouts to avoid misinterpretations and improve public understanding of government decisions.
Corporate climbers are scaling new heights, literally
Captain Swadesh Kumar guides working professionals to Himalayan summits. These climbers are swapping laptops for ice axes. Kang Yatse II and Nun Kun are popular choices. Corporate groups embrace climbs for team building. Nepal waives royalties for 97 peaks. Mountaineering traffic redistributes to Nanda Devi and Nun Kun. Climbers are progressing from trekking to summiting.
MCA likely to simplify process for transfer of unclaimed shares
The corporate affairs ministry plans to simplify documentation for transferring unclaimed shares and dividends to investors through the IEPFA. A panel's report suggests reforms for claims up to ₹5 lakh for physical securities, ₹15 lakh for dematerialized securities, and ₹10,000 for dividends. This initiative aims to reduce timelines, improve transparency, and provide hassle-free services to investors.
Patton calls for BJP govt formation in Nagaland in 2028 assembly polls
Senior BJP leader Y Patton has set an ambitious goal for the party in Nagaland, calling for it to contest all 60 assembly seats in the 2028 elections and establish its own government. Addressing party workers in Dimapur, Patton questioned the current seat-sharing arrangement with the NDPP and urged members to aim higher.
ITR filing deadline extension now demanded by this Tax Bar Association due to many issues including technical glitches with ITR portal
The tax bar association, which includes tax practitioners, chartered accountants, company secretaries, advocates, and consultants, in its letter, highlighted how taxpayers and professionals have been struggling this year due to the late release of utilities, ongoing technical issues with the ITRportal, and additional compliance steps.
Amazon completes Axio acquisition, secures access to direct lending business in India
Amazon has finalized its acquisition of Axio, an Indian non-bank lender, securing a direct lending license in India. This move allows Amazon to offer credit products directly on its platform, including checkout loans, and explore new credit solutions for customers and small businesses. Axio will operate as a separate entity under Amazon, expanding Amazon's fintech presence in India.
Centre moves Supreme Court seeking transfer of pleas against online gaming law from HCs to avoid 'conflicting verdicts'
The Central government has asked the Supreme Court to move cases against the Online Gaming Regulation Act, 2025. These cases are currently in different high courts. The government wants the Supreme Court to hear them together. This is to ensure consistent rulings. The Online Gaming Regulation Act, 2025 bans real-money online gaming nationwide.
ICAI 2025 exams postponed: CA Final and Intermediate papers delayed in Punjab cities and Jammu due to floods, heavy rain
Chartered Accountant 2025 exam postponed: The decision, shared through an official notification, comes after heavy rains and flooding across several regions disrupted normal life and raised concerns over the safe conduct of examinations. ICAI emphasized that the postponement is location-specific, affecting only certain centres, and exams in other parts of the country will continue as planned.
TCS signs €550 million deal with Scandinavian non-life insurer Tryg
The deal will see TCS simplifying and standardising Tryg’s operations in its three major markets — Denmark, Sweden, and Norway — and driving technological transformation over seven years.
UP Cabinet nod to Rs 16,000-Rs 20,000 monthly pay for outsourced staff, improve service conditions
The Uttar Pradesh government has taken steps to improve conditions for outsourced workers. The Cabinet approved a plan to pay them between Rs 16,000 and Rs 20,000 monthly. The government will use the GeM portal to select service providers. Outsourced staff will work 26 days a month and get paid on time. Reservations will apply to these appointments.
CVC flags 23 cases of 'non-compliance' of its advice in corruption cases by govt departments; NHAI, BSNL, BRO & Prasar Bharti included
The Central Vigilance Commission has found that government departments diluted advice in 23 corruption cases. The Ministry of Railways had the most instances. Other entities like NHAI and BSNL also showed non-compliance. The CVC stressed that ignoring its advice weakens vigilance. The commission highlighted specific cases, including bribery at a railway hospital and irregularities at BSNL.
Karnataka govt notifies formation of five city corporations in Bengaluru
The Karnataka government has officially announced the formation of five new city municipal corporations in Bengaluru, replacing the existing Bruhat Bengaluru Mahanagara Palike (BBMP). This decision, made under the Greater Bengaluru Governance Act, aims to improve governance and administration. Boundaries for Bengaluru West, South, North, East, and Central corporations are now defined.
New Zealand updates police clearance certificate requirements for Indian visa applicants
Effective December 1, 2025, Immigration New Zealand will only accept police clearance certificates from Indian visa applicants residing in India if they are issued by a Regional Passport Office. This change is due to inconsistencies and verification difficulties with previously accepted certificates from local police stations. Applicants are advised to plan ahead to meet the new requirement.
IGL shares in focus after formation of solar JV with Rajasthan government
IGL shares: Indraprastha Gas Ltd (IGL) has formed a joint venture with Rajasthan Rajya Vidyut Utpadan Nigam Ltd to set up a solar power project in Rajasthan, marking its entry into the renewable energy sector.
India, UAE discuss pharma, local currency settlement system
India and the UAE recently engaged in discussions. They focused on strengthening ties in renewable energy and digital infrastructure. Both nations want better trade data sharing. This will improve monitoring under their trade agreement. They also reviewed progress under the India-UAE CEPA. The aim is to reach $100 billion in non-oil trade by 2030.
Has the promised zero penalty privilege for small taxpayers been taken away in the New Tax Act 2025? Here’s what experts say
The Lok Sabha approved the Income Tax Act 2025. It clarifies rules for late ITR filing and tax refunds. A select committee suggested changes to Section 263. The bill removes sub-clause (1)(ix). Taxpayers can now claim refunds even with delayed returns. This resolves confusion for those filing after the deadline. The new rules aim to provide flexibility for refund claims.
Extend ITR and tax audit deadlines due to tax portal glitch, data mismatch in AIS and Form 26AS, new ICAI format, says CCTAX
ITR Filing Deadline Extended?: The Chandigarh Chartered Accountants Taxation Association (CCTAX) has urged the CBDT to extend the ITR and tax audit deadline for AY 2025-26, citing persistent glitches on the ITR filing portal, data mismatches, and recent ICAI format changes. CCTAX highlights that natural calamities and delayed utility releases have further complicated compliance. Read more.
ITR filing due date for FY 2024-25 is September 15, 2025, but is it also deadline to pay self-assessment tax without penalty?
The government extended the income tax return filing deadline for FY 2024-25 to September 15, 2025, offering relief to many taxpayers. Experts suggest that with the ITR filing due date for FY 2024-25 (AY 2025-26) extended to September 15, 2025, the revised date will be considered as the 'due date' for the purposes of Section 234A.
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