MCA Revised Mandatory Disclosures Form INC-22A Key Amendment—Substitution of Form INC-22A—MCA Notifies Companies (Incorporation) Amendment Rules, 2025 Summary of the latest development regarding the Companies (Incorporation) Amendment Rules, 2025, as notified by the Ministry of Corporate Affairs (MCA). The amendment introduces a revised e-form, INC-22A. Form No. INC-22A (ACTIVE) – Active Company Tagging Identities and …
Update on Income Tax Return Processing Transparency Just two days ago, during our live session, we highlighted that only 95k ITRs had been processed—despite over 55 lakh filings already being recorded. Now, the Income Tax Department has removed the Income tax return processed count from its official website. This move raises serious concerns. As Income …
Overview & Taxation of Real Estate Investment Trusts (REITs) in India What Are Real Estate Investment Trusts ? REITs (Real Estate Investment Trusts) are investment vehicles that allow individuals to invest in income-generating commercial real estate—such as office spaces, malls, warehouses—without owning physical property. Real Estate Investment Trusts are an excellent way to diversify a …
Cash Deposits under Presumptive Taxation—Whether Attract Section 68 or 69A? Cash deposits under presumptive taxation schemes (Sections 44AD, 44ADA, & 44AE) and their implications u/s68 of the Income Tax Act. Section 44AD/ADA/AE allows eligible businesses and professionals to declare profits on a presumptive basis, thereby exempting them from maintaining books of accounts u/s44AA, provided they …
New IBBI Forms LIQ 1–4 Introduced to Streamline Liquidation Reporting In the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, if No resolution plan is received, or The maximum time period expires, and the Adjudicating Authority (AA) may order liquidation of the Corporate Debtor. To strengthen oversight and improve compliance, the Insolvency and Bankruptcy …
Cyber Jaagrookta Diwas: Stay Alert, Stay Secure—Beware of Social Engineering! On this Cyber Jaagrookta Diwas, let us raise awareness about the growing threat of social engineering attacks. Cybercriminals often exploit human emotions—such as fear, curiosity, sympathy, or pride—to manipulate individuals into revealing confidential information or performing harmful actions. This Cyber Jaagrookta Diwas, we are spreading …
Implementation of Non-Editable Auto-Populated Tax Liability in GSTR-3B from July 2025 Tax Period The GST Portal currently auto-populates tax liabilities in GSTR-3B based on outward supplies declared in GSTR-1, GSTR-1A, and IFF. Until now, taxpayers could edit these auto-populated values directly in GSTR-3B. Upcoming Change: Effective from the July 2025 tax period (to be filed …
HSN Code Requirements Based on Annual Turnover Below Summary table showing the requirement of HSN code reporting under GST based on a taxpayer’s annual turnover Annual Turnover of Taxpayer HSN Code Requirement Up to INR 1.50 crore Optional—HSN code reporting not mandatory INR 1.50 crore to INR 5.00 crore 2-digit HSN code must be mentioned …
Key Due Dates to Note Compliance Calendar For FY 2025–26 (by Compliance Type) TAX COMPLIANCE CALENDAR – FY 2025-26 (1st Apr 2025 – 31st Mar 2026) – For Individuals | Professionals | SME Businesses Tax Compliance Calendar for FY 2025–26 (AY 2026–27) covering Income Tax Filing, GST, TDS, ROC, and Accounting compliances with a primary …
Key Changes implemented for taxpayers filing under Old Tax Regime Significant changes the Income Tax Department in India has implemented for taxpayers filing under the Old Tax Regime. The IT Department has started auto-verifying claims using an integrated backend system mapped with PAN and Aadhaar. Sources for Cross-Verification: Taxpayer must maintain data will now be …