Latest Updates

02-05-26
✅All LLPs must file Form 11 (Annual Return) for FY 2025–26 by 30th May 2026, irrespective of turnover or business activity. Delay attracts a penalty of ₹100 per day with no maximum limit, leading to heavy compliance costs.
✅All Import Export Code (IEC) holders must complete their annual IEC update/renewal by 30th June 2026 on the DGFT portal. Failure to update may lead to deactivation of IEC, impacting import-export activities.
✅The due date for filing TDS Return (Q4 FY 2025–26) for the period Jan–Mar 2026 is 31st May 2026 (Forms 24Q & 26Q). Delay in filing may attract late fees of ₹100 per day per form along with penalties.

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137   

01-05-26
✅FoSCoS portal is now active for filing Annual Return (Form D1) for FY 2025–26, with the due date being 31st May 2026. Manufacturers, repackers, relabellers, exporters, and importers are required to file within the timeline to ensure compliance. Delay in filing will attract a penalty of ₹100 per day and may also lead to suspension of the FSSAI license. 
✅ FSSAI has extended compliance for new meat sausage standards by 6 months from 1st May 2026. FBOs must comply with revised composition, additives, processing, and labelling norms. 
✅DGFT has notified modalities for export of wheat (25 LMT quota) with applications to be filed online between 1st May and 10th May 2026. Export authorization will be valid for 6 months, with allocation based on eligibility and export performance, and mandatory monthly reporting for compliance.
 
👉Feel free to connect us at WhatsApp link https://wa.me/919625976137  

30-04-26
✅ Income Tax Rules 2026: Implemented from 1 April. PAN mandatory for key transactions. Forms 15G/15H replaced by Form 121. Revised compliance, reporting & timelines introduced.
✅GST Enforcement: CGST Delhi South uncovers ₹60.59 crore fake ITC fraud involving bogus invoices worth ₹397.23 crore. Key accused arrested under CGST Act, indicating stricter scrutiny on ITC claims and compliance.

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137 

29-04-26
✅ RBI issues Amendment Directions on review of regulatory framework including registration requirement for ‘NBFCs not availing public funds and not having customer interface’ (including ‘Type I NBFCs’)

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137
    
28-04-26
✅ The Reserve Bank of India mandates faster inward remittances with same-day credit, instant alerts, and hourly reconciliation, aiming to eliminate delays and improve transparency in cross-border payments. Effective from Oct’26.

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137    

27-04-26
✅ DGFT keeps wheat export prohibited but allows 25 LMT under quota with additional Govt-to-Govt exports, creating a limited opportunity subject to strict compliance and upcoming procedures

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137   

25-04-26
✅ TRACES revamped: New UI & navigation. For FY 2025–26 or earlier, select “Compliance under Income Tax Act, 1961”. Path: Login → Menu → Compliance. Contact us for TDS support

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137  

24-04-26
✅ CBDT issued corrigendum to the Notification related to Form ITR-7, ITR-1 & 4, ITR-2, ITR-5, ITR-6, ITR-U

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137 

21-04-26
✅ DIR-3 KYC fees revised from 21 Apr 2026. NIL within due date, ₹5,000 for delay/DIN reactivation, ₹500 for re-filing changes. Avoid errors to prevent extra cost.
✅GSTN allows re-computation of interest in Table 5.1 of GSTR-3B due to discrepancies (Feb 2026 cases). Use “Re-Compute Interest” option and verify via system-generated PDF before filing.

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137
  
17-04-26
✅ The list of banks authorized to import gold/silver under Appendix 4B of HBP 2023 has been updated. Importers must verify updated authorized banks before proceeding with imports to ensure compliance.
✅ MoF via Notif. 05/2026-Cus(ADD) excludes lithograde aluminium coils (>1150 mm width) from anti-dumping duty under Notif. 68/2021. Applies to HS 7606/7607; based on DGTR recommendations.

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137 

15-04-26
✅Offline Utility for Form 145 and Form 146 has been enabled on the e-Filing Portal. Users can download, fill, and submit the forms directly through the utility available under “Downloads → Income tax Forms → Income tax Act, 2025”.

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137
 
14-04-26
✅MCA #CCFSScheme 2026 - All you need to know! 💸 Save up to 90% penalty 📅 Apr 15 – Jul 15, Missed ROC filings? This is your chance Avoid penalties. Stay compliant.

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137   

10-04-26
✅From 06 Apr 2026, GSTN allows editable pre-deposit in APL-01. Earlier fixed at 10% (Sec 107(6)), taxpayers can now adjust as applicable. Subject to verification by appellate authority.

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137  

09-04-26
✅GST amendment vide Finance Act 2026 - The Finance Bill, 2026 has received Presidential assent on 30 March 2026 and has been enacted as the Finance Act, 2026. Pursuant to this enactment, following amendments have been carried out in the GST law.
✅The Reserve Bank of India mandates faster inward remittances with same-day credit, instant alerts, and hourly reconciliation, aiming to eliminate delays and improve transparency in cross-border payments. 

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137 

08-04-26
✅Notification giving effect to the Amending Protocol to the India–Brazil Double Taxation Avoidance Agreement (DTAA) under section 90(1) of the Income tax Act, 1961
✅CBDT has notified ITR-1 & 4, ITR-2, ITR-5, ITR-6, ITR-7, ITR-U forms for AY 2026-27
✅Directorate of Income-tax (Systems), New Delhi notified the Procedure, format and standards for generation and allotment of Unique Identification Number (UIN) in respect of Form No. 121 and quarterly furnishing of Part B thereof by the payer
✅GSTN has now introduced an IMS Offline Utility
✅India–Brazil DTAA amended via Notification 39/2026. Introduces anti-abuse rules, revises tax rates (dividend/interest/royalty) & brings FTS taxation @10%. Effective from FY post 18 Oct 2025

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137
 
07-04-26
✅Stakeholders must file MSME Form I for Oct 2025–Mar 2026 on the MCA portal. Ensure timely compliance to avoid penalties. Last date: 30 April 2026.
✅Foreign remittance rules updated from 1 Apr 2026. Forms 15CA/CB replaced by Forms 145/146 under IT Act 2025. Mandatory CA authorization, no bulk filing, pre-remittance filing required. ₹5L limit unchanged. Penalty up to ₹10K. Ensure compliance & system readiness.
✅DGFT Notification (06 Apr 2026) has revised export policy for wood pellets & briquettes. Both items are now under “Restricted” category, requiring export authorization. Change is effective immediately, shifting from earlier prohibited/free status
✅Key Changes in ITR-1 for AY 2026–27 compared to AY 2025–26 - ITR-1 is applicable to resident individuals having total income up to Rs. 50 lakh and income from salaries, up to two house properties, other sources (such as interest), long-term capital gains under section 112A up to Rs. 1.25 lakh, and agricultural income up to Rs. 5,000

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137
  
06-04-26
✅DGFT Notification (02 Apr 2026) amends import policy for Chapter 71 items (gems & jewellery). Several items shift from “Free” to “Restricted” with new Policy Condition. No transitional benefits allowed; rules applicable immediately, regardless of prior contracts.
✅DGFT (Directorate General of Foreign Trade) has extended its special drive for issuance of EODCs (Export Obligation Discharge Certificates) under AA (Advance Authorisation) and EPCG (Export Promotion Capital Goods) schemes till 31 May 2026, focusing on clearing old/deficient cases and urging exporters to submit pending documents promptly
✅ The CAG flagged widespread irregularities in tax exemptions and deductions claimed by banks and NBFCs, with a potential revenue impact of ₹74,766 crore. 

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137  

05-04-26
✅Delhi GST introduces ₹2.5 crore ITC threshold for cancellation of GST registration. For ITC > ₹2.5 Cr, cancellation requires Zonal In-charge approval. For ≤ ₹2.5 Cr, Ward Officer can decide. Businesses must monitor ITC claims to avoid compliance risks.
✅FSSAI mandates registration/license for all milk producers (except dairy cooperatives) and vendors. Ensure compliance before starting or continuing food business operations.
✅Effective 1 April 2026, FSSAI revises turnover limits: Registration up to ₹1.5 Cr, State License ₹1.5–50 Cr, Central License above ₹50 Cr. Big step towards ease of doing business.
✅RBI (Circular No. 01 dated 01 Apr 2026) enables FEMA guarantee reporting on portal. Indian entities in cross-border guarantees must report via AD banks. Read Article
✅Start a new invoice series from April 2026 for tax invoices, debit/credit notes & bills of supply. Ensure proper numbering for smooth GST compliance and audit readiness.
✅Update IEC on DGFT portal before June 2026. Also file RoDTEP ARR if claim exceeds ₹1 crore for FY 2023-24 to avoid non-compliance issues.

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137 

04-04-26
✅TDS Applicability linked to turnover—₹50L (professionals), ₹1Cr (business), ₹10Cr (purchase of goods), expanding compliance coverage from Apr 2026.
✅Form 16 (salary) is now Form 130, and Form 16A (non-salary) is now Form 131 for tax deduction certificates from April 2026.
✅India invokes MLI-PPT on Jane Street Singapore, alleging ₹8,000 Cr tax avoidance via derivative profit shifting. Signals stricter treaty scrutiny beyond GAAR.
✅New audit regime aligned with global standards under review. 40 standards (incl. SA 600) proposed from Apr 2026; NFRA–ICAI dispute on auditor responsibility awaits final govt decision (MCA).
✅GST Advisory issued on 03 Apr 2026 - GST Appeals blocked where orders show NIL demand after SCN payment. Taxpayers must seek rectification first to reflect liability, then file appeal u/s 107 Read Article
✅Import duty on critical petrochemicals has been reduced to Nil by GOI

👉Feel free to connect us at WhatsApp link https://wa.me/919625976137

03-04-26  
✅IBBI Valuation Standards applicable from 1st April, 2026 for the purpose of valuation conducted under the Insolvency and Bankruptcy Code, 2016
✅Old TDS Forms 24Q and 26Q (Quarterly returns) have been replaced with New Form 138 for salary payments and New Form 140 for other payments.

02-04-26 
✅Top banks and telecom companies are moving beyond traditional OTPs by building a silent background check that verifies if your SIM matches your banking app, blocking fraud instantly without any action from you. 
✅The CGST Act, 2017 (as amended by Finance Act, 2026), along with updated CGST Rules and latest notifications, has been officially updated and made available online.

01-04-26 
✅ICAI has deferred the implementation of SQM 1 and SQM 2, originally scheduled from April 1, 2026, until further announcement.
✅The Income-tax Act, 1961 stands repealed effective 01.04.2026, pursuant to Section 536 of the Income-tax Act, 2025.
✅Wishing you all a very happy & prosperous FY 2026–27 or Tax Year (TY) 2026–27.
 
31-03-26
✅ All ITR Forms for AY 2026–27 notified (ITR 1–7 & ITR-U). Start early preparation for smooth filing. Talk to Expert
✅SWF compliance updated—Form I & quarterly Form II filings mandatory from 1 Apr 2026 to retain tax exemption. Read Article
✅After 31st March, window for filing ITR for FY 2020-21 will be permanently closed Talk to Expert
✅The rates of interest on various Small Savings Schemes for the first quarter of FY 2026-27, starting from 1 April, 2026 and ending on 30th June, 2026 shall remain unchanged from those notified for the fourth quarter (1 January, 2026 to 31 March, 2026) of FY 2025-26: Ministry of Finance Talk to Expert

30-03-26 
✅PAN Rules Updated from 1 Apr 2026: Cash ₹10L, Property ₹20L, Vehicle ₹5L+ → Ensure compliance. Read Article
✅CBDT released Form 121 - UIN, now mandatory from 1 Apr 2026, quarterly reporting required even without TDS. Read Article
✅In view of the prevailing geopolitical situation affecting energy supplies worldwide, the Central Government has decided to make an ad hoc allocation of Public Distribution System (PDS) Superior Kerosene Oil (SKO) to the States/Union Territories (UTs), including 21 States/UTs which are PDS SKO free, for distribution to households for cooking and lighting purposes.

29-03-26  
✅DIR-3 KYC now required once every 3 years for directors, with mandatory updates within 30 days for any changes. New MCA rules effective from 31 March 2026—ensure timely compliance to avoid issues. Read Article

28-03-26 
✅ Petrol duty cut to ₹3/litre and diesel to ₹0—fuel costs down, easing logistics and inflation. Talk to Expert 

27-03-26
✅From Feb 2026, GST portal auto-populates GSTR-3B liability breakup—ensure you click SAVE in the tab before filing to avoid errors Talk to Expert
✅Taxpayers can now withdraw GST registration applications using Form REG-32 during processing stage Talk to Expert

26-03-26 
✅ DGFT extends TRQ validity for gold imports under India-UAE CEPA till 30 June 2026 with automatic extension and no additional compliance Read Article
✅ CBDT extends deadline for issuing TDS Certificates (Q3 FY 2025-26) till 31 March 2026 due to portal glitches Talk to Expert

25-03-26
✅Dubai property bought via credit card may violate FEMA—ED investigations underway

23-03-26 
✅ Duty Deferment Scheme now available for eligible manufacturer-importers meeting prescribed compliance and financial criteria

18-03-26
✅ From Feb 2026 onwards, GST portal auto-populates “Tax Liability Breakup” in GSTR-3B based on earlier period invoices reported in GSTR-1/IFF.

11-03-26
✅ The final instalment of Advance Tax for FY 2025-26 is due by 15 March 2026.

10-03-26
✅ The Government of India has invoked the Natural Gas (Supply Regulation) Order, 2026 under the Essential Commodities Act, 1955 to secure and regulate supply of natural gas, LNG and LPG.
 
09-03-26
✅ The Income Tax Department has conducted a nationwide verification in the Food & Beverage sector using AI-based data analytics on around 1.77 lakh restaurants. 
✅Travel delays may affect tax residency.  Even a 2–3 day involuntary stay in India due to flight cancellations can change your tax residency status under Section 6.

08-03-26
✅ India Wins 3rd T20 World Cup: A Historic Triumph at Narendra Modi Stadium.
✅India and the UAE are working on linking their sovereign digital currencies (CBDCs) to enable instant cross-border money transfers.
✅From the February 2026 tax period, Taxpayers can now utilise CGST credit and SGST credit in any proportion for payment of IGST liability, after exhausting available IGST credit.
✅Happy International Women’s Day!

07-03-26
✅ RBI proposes compensation of up to ₹25,000 (85% of loss) for digital frauds up to ₹50,000—even if credentials were shared unintentionally.
✅Calcutta High Court held that police cannot debit-freeze a GST taxpayer’s bank account without a Magistrate’s order under BNSS.

06-03-26
✅ GSTN enables Rule 14A withdrawal facility via Form GST REG-32.
✅Duty free import of 1 new laptop into India under Baggage Rules 2026.

05-03-26
✅ EPFO retained the 8.25% interest rate for 2025 to 26, benefiting over 70 million subscribers. The decision awaits finance ministry approval.
✅Baggage allowance on transfer of Residence to India by working professionals under Baggage Rules 2026
✅Stay alert and follow UAE safety guidelines; Embassy services remain operational with 24×7 helpline (800-46342). Limited India flights are operating, and overstay fines are waived for visas expired after 28 Feb under special circumstances.

04-03-26
✅ India and Canada have taken a significant step in strengthening their bilateral ties by signing a $2.6 billion uranium supply deal, with Canada's Cameco Corp. agreeing to supply 22 million pounds of uranium to India from 2027 to 2035.
✅Wishing everyone a joyful and colourful Holi.