Tax Compliance Reminder: Businesses, employers, deductors and collectors should note that September 7, 2026 is the due date for depositing Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) for August 2026, as applicable. Timely payment of TDS and TCS is an important part of tax compliance. Taxpayers should ensure that the amount […]

31 August 2026 is an important Income Tax deadline for taxpayers with business or professional income whose accounts are not subject to tax audit. Eligible taxpayers filing ITR-3, ITR-4, ITR-5 or ITR-7 should complete their returns by the due date. ITR-3 generally applies to individuals/HUFs with business or professional income, while ITR-4 covers eligible taxpayers […]

Tax Audit compliance for AY 2026-27 is in focus as businesses and professionals review Section 44AB tax audit requirements, applicable thresholds and reporting rules. Accurate books of accounts, proper documentation, expense records, GST reconciliation and financial statements are becoming increasingly important for smooth tax audit compliance. Businesses should ensure that accounting records are complete, transactions […]

Major GST developments bring important compliance implications for businesses. Proposed GSTN enhancements to the GST e-Way Bill, including certain Ship-to GSTIN and closure-related changes planned for August 2026, have been kept on hold until further notice. Meanwhile, the Supreme Court has upheld the constitutional validity of CGST Section 16(2)(c), reinforcing the importance of supplier-side GST […]

The Income Tax Department has extended the filing deadline for ITR-3 and ITR-4 for self-employed professionals, freelancers, and small non-audit businesses to 31 August 2026. Taxpayers should use this additional time to review income, deductions, and supporting documents and file their returns accurately to avoid unnecessary penalties and interest. Staying compliant also helps maintain proper […]

The Ministry of Corporate Affairs (MCA) has extended the deadline under the Companies Compliance Facilitation Scheme (CCFS-2026) to 31 August 2026. This extension gives eligible Companies and LLPs additional time to complete pending ROC filings and annual compliance requirements with lower additional fees. Businesses should use this opportunity to regularize pending filings, reduce compliance costs […]

The Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026, was passed by the Lok Sabha on 7th August, 2026, subsequent to its passing by the Rajya Sabha on 3rd August, 2026. The Micro, Small and Medium Enterprises Development Act (MSMED Act) was notified in 2006 and has completed 20 years of its enactment. Over […]

India is witnessing major business and regulatory developments that will impact merchants, consumers, and industries. The government is proposing a Merchant Discount Rate (MDR) of 0.25%–0.35% on UPI transactions above ₹2,000, making merchants responsible for digital payment processing costs. Meanwhile, the Supreme Court of India has directed the Reserve Bank of India (RBI) to implement […]

India has announced a series of major business and financial reforms that are expected to reshape trade, investment, banking, and taxation. The government has allowed business-to-consumer (B2C) e-commerce under Foreign Direct Investment (FDI) for export purposes, enabling global companies such as Amazon to procure goods from Indian manufacturers, maintain inventory, and export products worldwide, boosting […]

The Government is expected to introduce the new MSME Bill during the upcoming Monsoon Session of Parliament to address the long-standing issue of delayed payments to Micro, Small and Medium Enterprises (MSMEs). The proposed legislation aims to improve payment discipline, strengthen cash flow and enhance the financial stability of MSMEs across India. In another significant […]

India’s financial and regulatory landscape continues to evolve with significant developments for businesses and investors. Following the Supreme Court’s May 2026 judgment on online gaming, GST demand notices involving nearly ₹2 lakh crore have sparked industry concerns over retrospective tax provisions and investor confidence. Meanwhile, RBI has highlighted solvency concerns in select general insurance companies, […]

The Income Tax Return (ITR) filing season for Assessment Year (AY) 2026–27 brings important compliance requirements for Resident and Ordinary Resident (ROR) taxpayers. Individuals holding foreign assets must disclose complete details of overseas investments, bank accounts, shares, financial interests, and other foreign holdings in their income tax returns. As many countries follow the calendar year […]

1 July 2026: As India marks 10 Years of GST, the tax ecosystem enters a new phase focused on AI-powered GST Compliance, Faster GST Refunds, Data Sharing, and Process Simplification. The integration of GST, Income Tax, and Customs data is expected to strengthen tax transparency, reduce tax evasion, and improve compliance for businesses. Taxpayers are […]