Gaurav Kumar

CA | Practicing in New Delhi India | Helping businesses stay complaint and financially efficient with reliable professional services

[Gaurav Kumar @cagauravbgs]

Request to @IncomeTaxIndia and @FinMinIndia: please extend the Tax Audit due date for AY 2026-27 beyond 31st October 2026, to give taxpayers and professionals adequate time for accurate and error-free filings.

#TaxAudit #DeadlineExtension #CBDT #TaxAuditExtension #ExtendDueDate

[Gaurav Kumar @cagauravbgs]

Under Section 10A of the Payment and Settlement Systems Act, 2007, no charge can be levied on customers or merchants for UPI payments or RuPay debit-card transactions up to ₹2,000: Ministry of Finance.
#rbi #upi #finance #cagaurav #ca #RuPay

[Gaurav Kumar @cagauravbgs]

Your residential status decides what India taxes.

ROR, RNOR or NR? Check your stay, the 120/182-day rules and deemed-residency provisions for Tax Year 2026–27.

Know your status before assessing your tax liability.

#IncomeTax #NRI #TaxResidency

[Gaurav Kumar @cagauravbgs]

India’s corporate compliance framework may be set for a major overhaul—faster company incorporation, AI-enabled scrutiny, automated filings and risk-based compliance for smaller entities.

A welcome step towards ease of doing business; effective execution will be key.

#MCA21 #CA

[Institute of Chartered Accountants of India - ICAI @theicai]

ICAI’s Response to Some Social Media Posts

[Gaurav Kumar @cagauravbgs]

Important HUF tax update:
From Tax Year 2026–27, the new regime is the default, revised slabs apply, and the Section 156 rebate is not available to an HUF. Review regime choice, deductions, losses, partition and clubbing provisions early.
#HUF #IncomeTaxAct2025 #cagaurav #update

[Gaurav Kumar @cagauravbgs]

@akhilpachori @officialepfo Same here. DSC registration pending for months, compliances stuck, zero response from EPFO. @officialepfo please look into this urgently.

[Gaurav Kumar @cagauravbgs]

Centre & States are working on uniform documentation norms to speed up GST registration, especially for businesses passing ITC above ₹2.5 lakh/month.

A positive step towards faster approvals and ease of compliance.

#GST #GSTUpdate #Tax #cagaurav.com

[Gaurav Kumar @cagauravbgs]

#NewProfilePic

[Gaurav Kumar @cagauravbgs]

Major Update for Small Taxpayers!
CBDT has notified the Foreign Assets of Small Taxpayers – Disclosure Scheme Rules, 2026, effective from 16 August 2026. The scheme provides an opportunity to disclose eligible foreign assets in accordance with the prescribed rules.
#IncomeTax #CA

[Gaurav Kumar @cagauravbgs]

Kind attention! #ITRFiling

[Gaurav Kumar @cagauravbgs]

Sec. 44AD Alert ⚠️
Receivables not realized on or before the ITR due date (31 Aug 2026 for FY 2025-26) do not qualify for the 6% presumptive rate under S.44AD.
Even if such debtors are later realized through banking channels (NEFT/RTGS/A/c Payee Chq, etc.), 8% profit will apply.

[Gaurav Kumar @cagauravbgs]

GST Update 🚨

GSTN has released FAQs clarifying the mandatory 'Ship To' field in E-Way Bills and the procedure for voluntary closure, addressing key stakeholder queries.

#GST #GSTN #EWayBill #TaxUpdate #India

[Gaurav Kumar @cagauravbgs]

ITR Update | AY 2026-27
The "Other Exempt Income" field was initially removed from the ITR utility, creating concerns for reporting capital receipts like gifts from relatives or sale of rural agricultural land (though disclosure isn't mandatory).

The field has now been restored.

[Gaurav Kumar @cagauravbgs]

The ICAI Council has announced that quoting extremely low fees in tenders, disproportionate to the assignment's scope and complexity, may be referred to the Director (Discipline) for appropriate action.
A welcome move to uphold professional standards and ethical practice.
#ICAI

[Gaurav Kumar @cagauravbgs]

The Income Tax Department is tightening scrutiny on salary-related tax claims.
Employers have been asked to analyse mismatches in salary filings, while taxpayers using incorrect deductions or "concession swapping" may face scrutiny. Ensure your ITR is backed by accurate document.

[Gaurav Kumar @cagauravbgs]

A major step towards empowering MSMEs! 🇮🇳

ICAI, ICSI, ICoAI & IIT Madras have signed an MoU, supported by the Ministry of Corporate Affairs, to launch the #CorporateMitra Scheme—creating a skilled cadre to strengthen regulatory compliance and drive business growth for MSMEs.
#CA

[Gaurav Kumar @cagauravbgs]

MCA portal glitches post data centre fire are hitting compliance hard. ICSI urges MCA to grant extensions, avoid penal actions & support stakeholders till systems stabilise. #MCA #ICSI #Compliance #CorporateLaw

[Gaurav Kumar @cagauravbgs]

Beauty of the MCA site — it goes under maintenance exactly when you need it the most ⚙️ @HelpdeskMCA21V3
#MCA

[Gaurav Kumar @cagauravbgs]

From 1 April 2026, the Income-tax Act, 2025 comes into force, ushering in a simpler, clearer and more reader-friendly direct tax framework.