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 The Companies Compliance Facilitation Scheme – 2026 (CCFS 2026) brings a major opportunity for companies across India to regularize their compliance status with significant fee reductions and penalty relief. If your company has pending ROC filings, is inactive, or you are planning to apply for dormant status, this limited-time scheme offers substantial financial relief and legal protection. Non-compliance with statutory filings can lead to heavy additional fees, penalties, director disqualification risks, and legal complications. CCFS 2026 has been introduced to give companies a fresh start by clearing defaults at reduced costs and without penalty—provided filings are completed within the scheme period. 🗓 Scheme Period: 15th April 2026 to 15th July 2026 Let’s explore how this scheme can benefit your business and why you should act now. Understanding ROC Compliance and Why It Matters Every registered company in India is required to file annual returns and financial statements wit...

Don’t Miss These 10 Critical GST Checks to Stay Compliant and Penalty-Free As we step into the Financial Year 2026–27, businesses must proactively review their GST compliance strategy. GST is not just about filing returns—it is about continuous monitoring, documentation, reconciliation, and timely decision-making. A small oversight can result in penalties, interest, blocked input tax credit (ITC), or unnecessary notices. To help you stay compliant, penalty-free, and stress-free, here are 10 critical GST checks every business must complete at the beginning of FY 2026–27. 1️⃣ File LUT for Zero-Rated Supplies (Due by 31 March 2026) If you are engaged in exports or supplies to SEZ units without payment of IGST, filing a Letter of Undertaking (LUT) is mandatory before the start of the financial year. Failing to file LUT on time may force you to pay IGST on exports and later claim refunds—leading to working capital blockage. Action Point: File LUT before 31 March 2026 for seamless zero-rate...

  A Comprehensive Guide for Chartered Accountants, Tax Professionals, and Businesses The proposed Draft Form No. 86 under the new Income-Tax framework represents a significant procedural reform in how digital records and seized assets are documented during search and seizure proceedings. As tax administration increasingly moves toward digitization and data-driven assessments, structured documentation of electronic evidence has become critical. For Chartered Accountants, tax practitioners, corporate advisors, and business owners, understanding the implications of Draft Form No. 86 is essential. This development is not merely administrative—it reflects a broader shift toward transparency, accountability, and standardized compliance processes in income-tax enforcement. In this detailed blog, we explore the purpose, scope, implications, and preparation strategy relating to Draft Form No. 86. 1️⃣ Background: Why Draft Form No. 86 Is Important Search and seizure proceedings have always ...

  A Comprehensive Analysis for Chartered Accountants and Tax Professionals The proposed Section 514 of the Income-Tax Bill, 2025 marks a significant shift in the way valuation reports will be prepared, presented, and scrutinized in income-tax proceedings. With the introduction of a structured and standardized valuation report format, the government aims to enhance transparency, accountability, and consistency in valuation practices across cases. For Chartered Accountants, Registered Valuers, tax practitioners, and corporate advisors, this development is not merely procedural—it signals a move toward tighter regulatory oversight and higher professional responsibility. In this detailed blog, we explore the background, objectives, implications, and practical considerations surrounding the proposed structured valuation report format under Section 514. 1️⃣ Background and Legislative Intent Valuation plays a critical role in income-tax matters. Whether it involves: Fair market value det...

As the financial year draws to a close, taxpayers and investors begin reviewing their portfolios, income statements, and overall tax positions. One powerful yet often underutilized strategy during this time is tax harvesting . When implemented correctly, tax harvesting can significantly reduce your capital gains tax liability and improve overall portfolio efficiency. With 31 March marking the end of the financial year, now is the ideal time to understand how this strategy works and how you can legally optimize your taxes. What is Tax Harvesting? Tax harvesting is a tax planning strategy where investors sell loss-making investments to offset capital gains earned from profitable investments. By doing this, you reduce your net taxable capital gains and, consequently, your tax liability. In simple terms: If you made profits on certain shares or mutual funds And you also have investments currently at a loss You can sell those loss-making investments And adjust (set off) the loss against yo...