Income Tax Notifications & Order IT

CBDT FAQ Deep-Dive Series #7: Section 43B Actual-Payment Deductions and the 43B(h) MSME Disallowance Under the Income-tax Act 2025 – How Section 37 Maps the Transition Before the September 30, 2026 Tax Audit

CA Adityavikram Banka

Section 43B becomes Section 37 of the Income-tax Act 2025 and 43B(h) becomes Section 37(2)(g). Period-aware guide to the MSME disallowance for the 30 Sept 2026 tax audit.

Corporate Law MSME

DIR-3 KYC Due Date June 30, 2026: The New Triennial Director KYC Rule, Who Must File This Year, and the Rs 5,000 DIN Reactivation Penalty

CA Adityavikram Banka

DIR-3 KYC is now triennial under MCA G.S.R. 943(E). Who must still file by 30 June 2026, the 30-day event rule, and the Rs 5,000 DIN reactivation penalty.

Income Tax

Form 16 for FY 2025-26: The June 15, 2026 Employer Deadline, the Rs 100 Per Day Penalty, and the Pre-Issue TRACES Checklist

CA Adityavikram Banka

Form 16 for FY 2025-26 is due June 15, 2026. Miss it and face Rs 100 per day under Section 272A(2)(g). Pre-issue Form 24Q and TRACES checklist for employers.

Corporate Law MSME

CCFS-2026 Deadline July 15, 2026: The Companies Compliance Facilitation Scheme Closeout Checklist Before the 10 Per Cent Late-Fee Window Shuts

CA Adityavikram Banka

CCFS-2026 closes July 15, 2026. Clear pending MGT-7, AOC-4 and ADT-1 at 10% of the additional fee. Eligibility, immunity, strike-off and the closeout checklist.

GST Notifications & Order GST

GST Notification 01/2026-Central Tax (Rate) Effective May 1 2026: How the Finance Act 2026 Beverage Reclassification Moves HS 2202 Carbonated and Caffeinated Drinks to the 40 Per Cent Slab, the Schedule I and Schedule III Tariff Substitutions, the May 6 Corrigendum GSR 339(E), and the Practitioner Compliance Checklist

CA Adityavikram Banka

Notification 01/2026-Central Tax (Rate), effective 1 May 2026, realigns HS 2202 beverage tariff entries with the Finance Act 2026 GST structure and the 40% slab.

Income Tax Notifications & Order IT

CBDT FAQ Deep-Dive Series #6: Depreciation Transition Under Section 32 of the Income-tax Act 1961 Preserved by Section 536(2)(m) for FY 2025-26, Mapped to Section 33 and the Section 33(11) Capital Allowance Pool of the Income-tax Act 2025 for Tax Year 2026-27 – WDV Carry-Forward, Unabsorbed Depreciation, and the Practitioner Checklist Before the September 30 2026 Tax Audit

CA Adityavikram Banka

FY 2025-26 depreciation files under Section 32 of the 1961 Act; Section 34 and the Section 33(11) pool govern Tax Year 2026-27 under the Income-tax Act 2025.

GST Notifications & Order GST

GSTAT Cohort-D With 35 Days Left to the June 30 2026 Cut-Off: The 5 NIC Portal Filing Errors Killing Practitioner Throughput, Section 112(8) Pre-Deposit Mechanics Under Rule 123 of the GSTAT Procedure Rules 2025, Section 112(6) Condonation Map to September 28 2026, and the Week-by-Week Sprint Template for the Final Filing Window

CA Adityavikram Banka

GSTAT Cohort-D closes June 30, 2026 with 35 days remaining as of May 26, 2026. Five NIC portal filing errors are killing practitioner throughput: cohort mismatch on Form APL-05, pre-deposit miscalculation on multi-period orders, missing Order-in-Original, challan dated before OIA, and grounds drafted on legacy Finance Act 1994 / state VAT framework. Section 112(8) pre-deposit mechanics, Section 112(6) condonation map to September 28, 2026, and the 5-week filing sprint template.

Income Tax Notifications & Order IT

CBDT FAQ Deep-Dive Series #5: Transfer Pricing Transition Under Sections 92 to 92F of the Income-tax Act 1961 Preserved by Section 536 Sub-Clause 5 of the Income-tax Act 2025 for FY 2025-26 Files – Form 3CEB October 31 2026 Deadline, Form 3CEAA Master File Rule 10DA, Form 3CEAD CbCR Rule 10DB, Section 92CA TPO Reference, Section 92CB Safe Harbour Rule 10TD, and the 8-Step Practitioner Sprint Before October 31, 2026

CA Adityavikram Banka

Section 536 sub-clause 5 of the Income-tax Act 2025 preserves the entire Chapter X transfer pricing framework (Sections 92-92F of the 1961 Act and Rules 10A-10THD) for FY 2025-26 international and specified-domestic transactions. Form 3CEB October 31, 2026 deadline, Form 3CEAA master file Rule 10DA, Form 3CEAD CbCR Rule 10DB, Section 92CB safe harbour Rule 10TD, Section 92CC APA continuity, penalty exposure under Sections 271BA / 271AA / 271G / 271GB / 270A, and an 8-step practitioner sprint.

Income Tax Notifications & Order IT

Section 14A and Rule 8D Disallowance Deep-Dive for FY 2025-26 Tax Audits Under Section 44AB and Section 536 Sub-Clause 4 of the Income-tax Act 2025: Exempt-Income Expense Allocation, Three-Limb Rule 8D(2) Computation, Form 3CD Clause 21(h), Maxopp Investment Satisfaction Doctrine, South Indian Bank Own-Funds Presumption, Strategic Foods Carve-Out, and the September 30, 2026 Practitioner Defence Playbook

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Practitioner deep-dive on Section 14A and Rule 8D for FY 2025-26 tax audits, preserved by Section 536 sub-clause 4 of the Income-tax Act 2025. Three-limb Rule 8D(2) computation, Form 3CD Clause 21(h) disclosure, Maxopp Investment satisfaction-recording defence, South Indian Bank own-funds presumption, Strategic Foods carve-out for controlling stakes, Section 115JB MAT add-back, and Section 270A penalty grid for under-reporting.

Income Tax Notifications & Order IT

CBDT FAQ Deep-Dive Series #4: Capital Gains Transition Under Section 536 Sub-Clause 5 of the Income-tax Act 2025 – Sections 45 to 55A of the 1961 Act, Section 47 Exempt Transfers, Section 48 Indexation, Section 49 Cost of Acquisition, Section 54 to 54GB Reinvestment Exemptions, and the Pre-April 2026 / Post-April 2026 Asset Holding Period Cutover for FY 2025-26 Files

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Fourth instalment of the CBDT FAQ deep-dive series on the Income-tax Act 2025 transition. How Section 536 sub-clause 5 preserves Sections 45 to 55A of the 1961 Act capital gains framework for AY 2026-27. Section 47 exempt transfers, Section 49 cost anchoring, Section 54 to 54GB reinvestments locked under 1961 Act conditions across the April 1, 2026 cutover.