Posts

🚨 MCA Portal Glitches Disrupt Corporate Compliance – Important Relief for Businesses!

Image
The Ministry of Corporate Affairs (MCA) portal plays a crucial role in ensuring that companies fulfil their statutory filing obligations under the Companies Act, 2013. However, persistent technical difficulties on the MCA V3 portal have created challenges for businesses, Chartered Accountants, Company Secretaries and other compliance professionals. Frequent portal downtime, login failures, Digital Signature Certificate (DSC) validation errors and difficulties in uploading statutory forms have made it increasingly challenging to complete annual corporate filings within the prescribed timelines. Recognising the difficulties faced by stakeholders, the Ministry of Corporate Affairs has announced an extension of the filing timelines for certain annual statutory forms for FY 2025–26 through General Circular No. 05/2026 dated 24 October 2026 . This relaxation provides additional time for companies to complete their financial statement and annual return filings without additional fees within t...
Post a Comment
Read more

TDS/TCS Compliance Alert: Form No. 137 Due on 15th November 2026 – Complete Guide for Government Offices

Image
Introduction Tax compliance plays an important role in maintaining transparency and accountability in financial transactions. The Government of India has established various procedures to ensure that Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) are properly reported and credited to the Central Government. As part of these compliance requirements, Form No. 137 under the Income-tax Rules, 2026 is an important monthly statement for government offices that deposit TDS/TCS through the book adjustment mechanism without producing a challan. For October 2026, the due date for furnishing Form No. 137 is 15th November 2026 . Government departments, Pay and Accounts Offices (PAOs), Treasury Officers and other concerned accounting authorities must ensure that the statement is prepared accurately and submitted within the prescribed timeline. Let's understand the purpose, applicability, filing requirements and importance of Form No. 137. 1. What Is Form No. 137? Form No. 137 i...
Post a Comment
Read more

📢 Income Tax Due Date Alert: Issue of TDS Certificate

Image
Due Date: 14 November 2026 Tax Deducted at Source (TDS) is an important part of India's income tax compliance system. Businesses, employers and other eligible deductors are responsible not only for deducting and depositing tax but also for completing the required documentation and issuing applicable TDS certificates within the prescribed timelines. For taxpayers and deductors, keeping track of important due dates is essential. Delays in TDS compliance can create unnecessary administrative difficulties and may affect the ability of taxpayers to claim the tax credit available to them. According to the applicable Income Tax provisions and Rules, deductors should ensure the timely issuance of the relevant TDS Certificate in Form No. 132 for the applicable period. The stated due date for this compliance is 14 November 2026 . Businesses should review their TDS records, verify the details of tax deducted and deposited, and ensure that all required certificates and compliance documents ar...
Post a Comment
Read more

GST Update: Psyllium Seeds (Isabgol) Exempt from GST from 1 November 2026 – Complete Guide for Traders and Businesses

Image
Introduction The Central Board of Indirect Taxes and Customs (CBIC) has introduced an important GST exemption for Psyllium Seeds (Isabgol) , providing significant relief to businesses involved in the trading, processing and supply of these agricultural products. Through Notification No. 03/2026-Central Tax (Rate), dated 27 October 2026 , the Central Government has amended the existing GST exemption schedule by inserting a new entry for Psyllium Seeds (Isobgul/Isobgol) under tariff item 1211 90 13 . This amendment comes into effect from 1 November 2026 . Corresponding amendments have also been issued under the Integrated Goods and Services Tax (IGST) and Union Territory Goods and Services Tax (UTGST) frameworks. This development is particularly relevant for agricultural traders, wholesalers, manufacturers, processors, exporters and businesses dealing with Isabgol seeds. In this article, let us understand the new GST exemption, its notification details, business implications and the impo...
Post a Comment
Read more

GST Update: Nominated Agency Definition Revised from 1 November 2026 – Key Changes for Exporters

Image
The Central Board of Indirect Taxes and Customs (CBIC) has introduced an important amendment to the definition of “Nominated Agency” under Notification No. 26/2018-Central Tax (Rate). This amendment links the identification of nominated agencies to the entities listed in Appendix 4B of the DGFT Handbook of Procedures , including any changes made to that list by the Directorate General of Foreign Trade (DGFT) from time to time. The revised definition is effective from 1 November 2026 . A corresponding IGST notification has also been issued to align the applicable provisions. This change is relevant to exporters, nominated agencies and businesses involved in transactions that depend on nominated-agency status for GST-related concessions or benefits. Businesses should review the revised definition and check the latest DGFT list to understand how the amendment affects their transactions. 1. What Is the Latest CBIC Amendment? CBIC has amended the definition of “Nominated Agency” under Noti...
Post a Comment
Read more

🚨 Missed the ITR Deadline? Know the Consequences!

Image
Filing an Income Tax Return (ITR) is an important responsibility for eligible taxpayers. Every year, individuals and businesses must ensure that their income tax returns are filed within the applicable due dates. However, due to busy schedules, missing documents, technical issues, or simply overlooking the deadline, some taxpayers may miss filing their ITR on time. If you have missed the ITR deadline, it is important not to panic—but you should also avoid ignoring the situation. Missing the due date can result in additional costs, interest, and the loss of certain tax benefits. Depending on your circumstances and the applicable provisions of the Income Tax law, there may still be options available to complete your tax filing. This article explains some of the important consequences of missing the ITR deadline and why timely action is essential. 💰 1. Late Filing Fees May Apply One of the immediate consequences of filing an ITR after the prescribed due date can be the levy of a late fil...
Post a Comment
Read more

ITR Filed but Not Verified? Why Income Tax Return Verification Is Essential

Image
Introduction Filing your Income Tax Return (ITR) is an important responsibility for taxpayers. However, submitting your return online does not necessarily mean that the filing process is complete. One crucial step that taxpayers must not overlook is ITR verification . Many individuals file their returns successfully but forget to complete the verification process. This can create unnecessary complications, as an unverified return may be treated as invalid under the applicable income tax provisions. To help taxpayers avoid such issues, it is important to understand the verification process, available methods, deadlines and possible consequences of missing the verification window. In this blog, we explain everything you need to know about ITR verification and how to ensure your income tax return is properly completed. 1. What Is ITR Verification? ITR verification is the process through which a taxpayer confirms that the income tax return submitted online is genuine and has been authorise...
Post a Comment
Read more