Author: CA Adityavikram Banka

The author is Founder of A. S. Banka Advisors Private Limited & Partner at Dhiraj & Dheeraj. You can reach out to the author on : [email protected] www.asbanka.com
Income Tax Notifications & Order IT

CBDT Compulsory Scrutiny Guidelines FY 2026-27: The Six Categories That Trigger a Section 143(2) Notice by June 30, 2026

CA Adityavikram Banka

CBDT compulsory scrutiny guidelines FY 2026-27: the six categories (CS-01 to CS-06) that trigger a Section 143(2) notice by 30 June 2026, explained for CAs and founders.

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

FY 2025-26 Transfer Pricing Under the 1961 Act: Forms 3CEB, 3CEAA and 3CEAD After the 2025 Act

CA Adityavikram Banka

FY 2025-26 transfer pricing stays under Sections 92 to 92F of the 1961 Act. Due dates for Forms 3CEB, 3CEAA and 3CEAD, thresholds, ALP range and penalties.