New permanent account number Quoting Rules (From 1 April 2026) These new permanent account number quoting rules specify when a permanent account number must be quoted for certain financial transactions. above compares old limits vs revised limits. Cash Withdrawals (Bank/Post Office) Old Rule New Rule INR 20 lakh (FY basis) INR 10 lakh (FY basis) Meaning: …
Ministry of Corporate Affairs Compliance Calendar – Private Companies (India) Annual Compliances – Private Companies (India) Form / Event Due Date Purpose / Details Annual General Meeting On or before 30 September Annual General Meeting of shareholders AOC-4 Within 30 days of AGM Filing of Financial Statements (BS, P&L, Auditor’s Report, Board Report) MGT-7 / …
April 2026 – Compliance Deadlines (India) Due Date Form / Compliance Category Description / Details 7 April ECB-2 Return FEMA Reporting of actual External Commercial Borrowing transactions for March 7 April Tax Deducted at Source and Tax Collected at Source Deposit (Govt.) Income Tax Deposit of Tax Deducted at Source and Tax Collected at Source …
Myth: Low Income Means No Need to File ITR : Not True Many people believe that if they don’t “earn enough,” they don’t need to file an income tax return (ITR). This myth is widespread — but incorrect. The Truth: Filing Depends on Your Gross Total Income, Not Your Final Taxable Income. You must file …
IBBI’s 2026 Reforms: Strengthening Valuation and Transparency under the IBC The Insolvency and Bankruptcy Board of India introduced a set of transformative reforms aimed at strengthening the valuation system & information disclosure standards under the Insolvency and Bankruptcy Code 2016 on 26th February 2026, These reforms mark a significant step toward enhancing credibility, transparency, and …
Valuation is a critical pillar under the IBC framework. The Insolvency and Bankruptcy Code, 2016 has transformed India’s insolvency ecosystem by introducing a structured, time-bound resolution process. Among the key pillars supporting this framework is valuation, which plays a crucial role in ensuring fairness, transparency, and informed decision-making throughout the Corporate Insolvency Resolution Process and …
Top GST Compliance Mistakes That Trigger GST Notice in India GST Notices are system-driven: Most Goods and Services Tax notices are not issued because of fraud. They arise due to routine compliance lapses and reconciliation failures. Goods and Services Tax scrutiny is now powered by data analytics, automated reconciliations & risk parameters configured by Goods …
A Paradigm Shift in Partner Taxation Earlier Positions of Professional and trading firms Treat partner payouts Historically, payments by partnership firms to partners, such as interest on capital, remuneration, commission, or salary, were outside the scope of TDS due to the principle of mutuality and the unique partner–firm relationship. This position has changed with the …
Working Capital Crunch: The Hidden Challenge Slowing Indian MSMEs In India, Micro, Small, and Medium Enterprises (MSMEs) are pivotal to economic growth, yet many struggle with a less visible but critical hurdle: a working capital crunch. Limited cash flow restricts daily operations, delays payments to suppliers, and hampers timely project execution, stunting business growth despite …
Understanding about Tax Deducted at Source Compliance Reform Effective from 1st April 2026 The TDS (Tax Deducted at Source) framework has undergone a structural overhaul with the introduction of the Income Tax Act, 2025 and Income Tax Rules, 2026. This is not just a change in sections; it is a shift towards real-time, technology-driven tax …