NICAI Update
CA Raj Chawla
Quotes of the day:
1. Don't Plan too Much, Life has Its Own plans for Us. Always Remember, Some of the Most Beautiful Moments of Our Life are Actually Unplanned.
2. Dreaming or Doing is the choice that determines the difference between SUCCESS & FAILURE. SUCCESS is the vehicle which moves on the vehicle called HARD WORK But The Journey is impossible without the fuel called SELF CONFIDENCE.
NICAI Update:
1. ITAT Delhi held that gift of a property to wife specially when she is a co-sharer in the property cannot be considered to be a colourable device and camouflage transaction to taint claim of Section 54F of the Income Tax Act. Accordingly, deduction u/s. 54F erroneously disallowed.
2. Labour Code Changes Effective April 1, 2026:
3. March 15th Deadline: PF & ESI.
· March 15, was the final day to deposit PF and ESI contributions for February 2026. Ensure timely filing of ECRs to avoid interest and late fees.
4. ESIC Special Services Fortnight Concludes:
· ESIC has streamlined daily health check-ups for workers above 40 years of age. Encourage eligible staff to utilize these facilities.
5. EPFO Budget & Grievance Resolve (NAN 2.0) EPFO has released its budget estimates for 2026-27, prioritizing digital infrastructure. The next district-level camp is scheduled for March 27, 2026.
6. Gratuity Clarity for Fixed-Term Employees (FTE): Fixed-Term Employees are now eligible for gratuity after just 1 year of continuous service, unlike permanent employees who follow the 5-year rule. Review your CTC structures for contract/fixed-term staff.
7. One License, One Registration" Push*
· The Ministry of Labour is urging establishments to migrate to the unified electronic registration framework, merging separate registrations into a single Central ID.
8. Professional Tip: Audit your payroll software for the 50% Wage Rule (Basic + DA must be 50% of CTC) as the new Labour Codes target an April 1, 2026, operational start.
9. Sebi issued new conditions for intraday borrowing by mutual funds to address temporary liquidity mismatches while putting in place safeguards to ensure investor protection. The new framework will come into effect from April 1. Sebi said mutual funds often face intraday timing mismatches between redemption payouts and inflows from investments. Typically, redemption payments to investors are processed during the morning hours of the settlement day (T+1), while funds from instruments such as TREPS and reverse repo transactions are received later in the evening.
10. Follow the CA Raj Chawla NICAI Update Channel on WhatsApp to get the latest ICAI news, announcements, professional updates, and important notifications instantly Link :https://whatsapp.com/channel/0029Vb6q4i8LNSZwQ3bbxY2j
With best regards
CA (Dr) Raj Chawla
B.Com (Hons), FCA, FCS, FCMA, LLB
MIMA, DISA, MICA, Phd, ASA (Aust), CMP (USA)
712, New Delhi House
27,Barakhamba Road, New Delhi-110001
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