CA, CWA & CS (Amendment) Act, 2022 [PDF Copy]

THE CHARTERED ACCOUNTANTS, THE COST AND WORKS ACCOUNTANTS AND THE COMPANY SECRETARIES (AMENDMENT) ACT, 2022

• Treasury Proposal Threatens Tax-Exempt Status of Colleges with Diversity InitiativesSeptember 4, 2026
  The Treasury’s proposed rule, set for publication on September 4, could rescind an IRS regulation favoring racial minorities in college admissions and funding. This move aligns with the Trump administration’s efforts to curb diversity initiatives in education. Critics warn it may harm colleges financially and politicize IRS operations.
• Income tax notices which salaried employees can get after filing ITRSeptember 4, 2026
  Salaried employees may receive eight types of tax notices after filing their Income Tax Return (ITR). These include notices related to discrepancies, defective returns, additional information requests, scrutiny assessments, and adjustments of refunds. Each notice requires specific responses, often involving careful examination of records, corrections, or detailed submissions to avoid penalties.
• Can an income tax notice be issued based on a third party’s WhatsApp chats? Find out what the Income Tax Appellate Tribunal order saysSeptember 4, 2026
  The ITAT ruled in favor of taxpayer Rameshwar Totala, finding that WhatsApp chats recovered from a third party could not justify a ₹10.52 lakh unexplained investment. The Revenue failed to authenticate the electronic evidence and lacked independent corroboration, emphasizing the need for reliable digital evidence in tax assessments.
• India’s largest-ever CGST Show Cause Notice?September 3, 2026
  Mahadev Betting case: DGGI seeks ₹40,603 cr in GST from promoters The DGGI has issued Show Cause Notices to Saurabh Chandrakar, Ravi Uppal, and others linked to the ‘Mahadev Book’ betting network regarding a GST liability exceeding ₹40,603 crore. 😳 The investigation reportedly reveals a taxable value of approximately ₹1.45 lakh crore. 📌 The ₹40,603… Read more: India’s largest-ever CGST Show Cause Notice?
• Amnesty Scheme 2026: EPFO Engages ICAI for Eligible Trusts IdentificationSeptember 2, 2026
  The Employees’ Provident Fund Organisation (EPFO) is launching a one-time amnesty scheme for provident fund trusts recognized under the Income Tax Act but lacking formal exemption under the EPF&MP Act. The scheme, valid until December 28, 2026, aims for retrospective regularization, benefitting both eligible trusts and regulatory clarity for employees.

TaxConcept

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