From 1 April 2026 the Income Tax Act 2025 is in force. This means new TDS form numbers (138, 139, 144), a consolidated tax audit report in Form 26, and — most importantly — a permanently extended ITR filing deadline of 31 August for non-audit cases under Finance Act 2026. This article maps every old form to its new equivalent, sets out the changed due dates side-by-side, and gives a practical compliance action list for individuals, businesses, and auditors navigating the dual AY 2026-27 / Tax Year 2026-27 framework.
March 31 has passed, but the GST books for FY 2025-26 are not fully closed until November 30, 2026. April is the last practical window to identify and correct outward supply mismatches, claim missed ITC, reverse ineligible credit, reconcile RCM liabilities, and sort GSTR-1 vs GSTR-3B differences — all before the Section 16(4) cut-off and GSTR-9 filing make them permanent. Here is the full reconciliation checklist.
Weak internal controls are the leading cause of financial fraud, compliance failures, and audit qualifications in Indian businesses. This article lays out the COSO-aligned control framework adapted for the Indian statutory environment — covering financial, IT, payroll, and treasury controls — with a downloadable implementation checklist.
India's Income Tax Act 1961 is being replaced by the Income Tax Act 2025, effective 1 April 2026. This plain-language explainer walks through what is actually changing — the unified Tax Year concept, TDS consolidation, MAT as final tax — and what is not, so you can prepare without alarm.
Finance Minister Nirmala Sitharaman's Budget 2026 introduced several time-sensitive amendments — SGB capital gains, STT revisions, TDS rationalisation, and foreign asset disclosure. Here is what is relevant and when to act.
The Invoice Management System, live since October 2025, fundamentally changes how Input Tax Credit is accepted or rejected. ITC is now available only on invoices you have accepted in IMS — not merely on what appears in GSTR-2B.
Sec 43B(h) disallows deductions for payments to MSMEs made beyond the MSMED Act timeline. With AY 2026-27 assessments ahead, this article covers the buyer's verification obligations and Form 3CD clause 26(A) reporting.
The GSTAT Principal Bench became operational in late 2025 after years of delay. The e-filing portal accepts appeals from October 2025, with staggered filing permitted until June 2026. If you have pending High Court GST matters, this tells you what to do next.
Budget 2026 proposes a one-time scheme for small taxpayers who inadvertently missed foreign asset disclosures — covering dormant bank accounts, RSUs/ESOPs of foreign companies, and similar low-value assets.
Section 16(4) of the CGST Act sets a hard deadline for claiming Input Tax Credit — the earlier of 30 November of the following financial year or the date of filing GSTR-9. For FY 2025-26 invoices, that deadline is 30 November 2026.
Budget 2026 announced integration of Income Computation and Disclosure Standards (ICDS) into Ind AS, eliminating the need for a separate ICDS computation from Tax Year 2027-28. This explains what ICDS currently does and what preparatory steps companies should take now.
With 31 March 2026 closing both FY 2025-26 and the era of the 1961 Act itself, there are more year-end actions than usual. This practical guide covers advance tax, TRACES correction, LUT renewal, Composition opt-in, loss harvesting, and decisions that cannot wait until April.