About the Author

Written by CA. Lakshy Vermaa

CA. Lakshy Vermaa advises small and mid-sized businesses on accounting discipline, tax compliance, and process improvement. With exposure to retail and trading environments, he writes practical articles aimed at helping business owners gain better financial visibility and control.

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ITR Filed Successfully? 8 Income Tax Notices You May Still Receive and How to Respond

By CA. Lakshy Vermaa   |   21-08-2026 15:40:00

Filing your Income Tax Return (ITR) successfully does not necessarily mean that the tax process for the year is completely over. After a return is submitted and verified, the Income Tax Department processes the information and may compare it with tax credits, employer-reported salary, bank information, investment transactions and other data available with the department. Read More

Success at CA. Exam - Series I starting from 6th October 2026 for CA. Final students appearing in November 2026 Examinations

By CA. Lakshy Vermaa   |   11-08-2026 10:52:00

Board of Studies (Academic) is fully committed to being your guiding light on your path to ‘success’ in the upcoming November Final examinations. The Sessions at Success at CA. Exam BoS are starting from 6th October 2026. BoS Faculty, your 'Gurus,' are going to accompany you in this journey with a series of virtual sessions. These sessions are designed to provide you with invaluable support and assistance in your exam preparations, ensuring a seamless academic experience. The detailed Schedu Read More

Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)

By CA. Lakshy Vermaa   |   06-08-2026 16:27:00

The Delhi High Court has once again emphasized that tax authorities must strictly follow the principles of natural justice while cancelling a GST registration. In a significant ruling, the Court observed that a GST registration cannot be cancelled with retrospective effect unless the Show Cause Notice (SCN) specifically informs the taxpayer that such retrospective cancellation is being proposed. If the notice fails to contain this proposal, the department cannot later pass an order giving retros Read More

Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose

By CA. Lakshy Vermaa   |   05-08-2026 17:30:00

Taxpayers who missed the July 31 ITR deadline can still file a belated return until December 31, 2026. Here's the filing process, applicable late fees, and the tax benefits you may lose by filing late. Read More

Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2026

By CA. Lakshy Vermaa   |   03-07-2026 14:30:00

Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2026

RBI/FMRD/2026-27/407 FMRD.DIRD.No.02/14.03.046/2026-27 June 25, 2026 To All participants in credit derivatives markets Dear Sir/Madam, Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2026 Please refer to Paragraph 13 of the Statement on Developmental and Regulatory Policies announced as a part of the Bi-monthly Monetary Policy Statement for 2025-26 dated February 06, 2026, regarding the introduction of derivatives on credit indices and total return sw Read More

Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission

By CA. Lakshy Vermaa   |   28-05-2026 11:50:00

Master   Circular  on   Conduct of Government Business by Agency Banks - Payment of Agency Commission

The Reserve Bank of India carries out the general banking business of the Central and State Governments through its own offices and through the offices of the agency banks appointed under Section 45 of the RBI Act, 1934, by mutual agreement. RBI pays agency commission to the agency banks for the government business handled by them. This Master Circular consolidates the instructions contained in the circulars listed in Annex 1. Read More

Finances of Non-Government Non-Financial Private Limited Companies, 2024-25

By CA. Lakshy Vermaa   |   14-04-2026 17:14:00

Today, the Reserve Bank released the data relating to financial performance of non-government non-financial (NGNF) private limited companies during 2024-25 Read More

Widening the Scope of Mandatory Applicability of Audit Quality Maturity Model (AQMM)

By CA. Lakshy Vermaa   |   13-04-2026 11:00:00

Widening the Scope of Mandatory Applicability of Audit Quality Maturity Model (AQMM)

In partial modification of the Announcement dated 11th August 2025 hosted at https://resource.cdn.icai.org/87517caq-aps1943.pdf a clarification is hereby issued that the mandatory AQMM review shall be applicable to Practice Units undertaking audits of the holding/subsidiary/associates/ joint ventures of listed entity or banks other than Co-operative banks (except multi-state co-operative banks) or insurance companies which are subject to Peer Review. Read More

80 Cr P.A. Opening Director Finance - CA -Healthcare

By CA. Lakshy Vermaa   |   24-03-2026 13:35:00

Experience: 15 - 22 years, Salary: 65-80 Lacs P.A., Role: Finance & Accounting - Other Read More

Seminar on Bank Branch Audit : Planning, Advances & NPA Verification, LFAR and AI in Audit

By CA. Lakshy Vermaa   |   19-03-2026 16:22:00

Place: Auditing and Assurance Standards Board Date: 25-03-2026 – To: 25-03-2026 CPE Hrs.: 6 Read More

80 P.A. Opening Vice President Finance / CFO ( E-Commerce / Retail ) - Indore

By CA. Lakshy Vermaa   |   09-03-2026 17:34:00

Experience: 15 - 20 years, Salary: 60-80 Lacs P.A., Role: Chief Financial Officer (CFO) Read More

Budget 2026 Brings Major Tax Relief: Revised ITR, Updated Returns & Immunity from Prosecution Explained

By CA. Lakshy Vermaa   |   10-02-2026 13:25:00

Budget 2026 Brings Major Tax Relief: Revised ITR, Updated Returns & Immunity from Prosecution Explained

In 2026, India’s income tax system has taken a decisive turn toward relief, correction, and trust-building. What changed in recent months is the government’s acknowledgment of a growing reality: honest taxpayers often make genuine mistakes, and fear of prosecution discourages voluntary correction. Budget 2026 directly addresses this pressure by introducing greater flexibility in revised ITRs, a more practical updated return framework, and conditional immunity from prosecution. Read More

1 Cr P.A. Opening Vice President Finance

By CA. Lakshy Vermaa   |   23-01-2026 12:09:00

Experience: 15 - 24 years, Salary: 70 Lacs-1 Cr P.A., Department: Finance & Accounting Read More

40 LAC Opening Finance Manager

By CA. Lakshy Vermaa   |   15-12-2025 14:00:00

Experience: 8 - 10 years, Salary: 30-40 Lacs P.A., Department: Finance & Accounting Read More

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