Filing March 2026 GST Return? Here Are Some Year-End Checkpoints!
Introduction As the financial year 2025–26 comes to a close, businesses across India are gearing up to file their March 2026 GST returns. This filing is not just another monthly compliance task; it is the final checkpoint before transitioning into FY 2026–27. The March return consolidates the year’s transactions, reconciles input tax credits (ITC), and […]
The Income Tax Act, 2025: Understanding the Tax Year Transition
Introduction India’s tax landscape is undergoing one of its most significant transformations in decades. With the Income Tax Act 2025 set to replace the Income-tax Act, 1961 from 1 April 2026, taxpayers, professionals, and businesses must prepare for a new era of compliance. The 1961 Act, though robust, had become layered with amendments, provisos, and […]
New TDS Payment Workflow from 01st April, 2026
Introduction From April 1, 2026, the Income Tax portal has undergone a significant transformation to align with the provisions of the Income Tax Act, 2025, while still retaining the utilities of the Income Tax Act, 1961. One of the most notable changes is the revamped process for TDS payments. The portal now distinctly separates payments […]
31st March 2026 – The Compliance Finish Line
As the financial year 2025–26 draws to a close, 31st March 2026 emerges as one of the most important dates in the compliance calendar for taxpayers, businesses, and professionals across India. This date is not just symbolic of the end of the fiscal year; it is the final checkpoint for multiple statutory obligations. From filing […]
GST LUT Filing: Don’t Miss the 31st March 2026 Deadline
Introduction Exports are the backbone of India’s trade economy, and the Goods and Services Tax (GST) framework has streamlined compliance for exporters. One of the most critical enablers in this system is the Letter of Undertaking (LUT). By furnishing a LUT, exporters can supply goods or services without paying Integrated GST (IGST) upfront, thereby avoiding […]
TDS Correction Deadline 31 March 2026 Guide
Introduction The Central Board of Direct Taxes (CBDT) has announced that 31st March 2026 will be the final cut‑off date for filing correction statements for past TDS and TCS returns, covering financial years 2018–19 to 2023–24; after this date, no further rectifications will be permitted, making it imperative for deductors and collectors to review their […]
Advisory on compulsory confirmation of “Tax Liability Breakup, As Applicable” in GSTR-3B for Feb 2026 tax period!
Introduction The Goods and Services Tax Network (GSTN) has introduced a procedural update in Form GSTR-3B to ensure accurate reporting of tax liabilities across periods. This change directly impacts how taxpayers confirm liabilities that pertain to previous tax periods but are discharged in the current one. Understanding this update is crucial for compliance and avoiding […]
Depreciation Rates FY 2025-26 – Income Tax Act
Introduction Depreciation is a critical concept in taxation and accounting. Under Section 32 of the Income Tax Act, 1961, depreciation allows taxpayers to claim a deduction for the gradual wear and tear of tangible and intangible assets used in business or profession. It ensures that the cost of assets is spread across their useful life, […]
TDS Rates FY 2026-27 – Complete Guide
Introduction Tax Deducted at Source (TDS) is a vital compliance mechanism under the Income Tax Act, ensuring tax collection at the point of income generation. For FY 2026-27, the Income Tax Department has notified updated rates applicable to residents and non-residents. While the overall framework remains consistent with FY 2025-26, there are important clarifications and […]
GSTN Advisory: Key Enhancements in GSTR-3B Filing Effective from February 2026 Tax Period
Introduction The Goods and Services Tax Network (GSTN) had earlier announced that several important enhancements in the filing of GSTR-3B returns would take effect from the January 2026 tax period. However, it has now been clarified that these changes will be implemented starting from the February 2026 tax period. The enhancements are aimed at […]