Elijah

Hey!

[Elijah @Elijah04737253]

#Vikraman You might have been cheated this time. But, Karma will do the needful. Don’t worry!

[CA Nitin Chawla (A.C.A) @CANITINCHAWLA]

BIG UPDATE FOR TAX PROFESSIONALS!

A major change in the Income-tax Act, 2025 deserves your attention.

Under Section 195, tax on income referred to in Sections 102 to 106 has been revised, with the highlighted provisions showing significant changes in the applicable tax rates.

📌 Key takeaway:

• 75% in specified cases

• 99% where income is determined by the Assessing Officer in the specified circumstances

• 30% tax rate for income referred to in the relevant clauses

These changes are extremely important for tax professionals, practitioners and taxpayers preparing for the transition to the new Income-tax Act.

Save this update & share it with every CA/Tax Professional!

Follow the Tax Talk with CA Nitin Chawla A.C.C.A channel on WhatsApp: 👇 https://t.co/7KtKmuv6rW

#IncomeTax #IncomeTaxAct2025 #TaxUpdate #IncomeTax2025 #DirectTax #Taxation #CAFinal #ICAI #CharteredAccountant #TaxProfessionals #IncomeTaxIndia #Finance #TaxNews #TaxUpdates

[Taxology India @taxologyin]

FAST-DS is well-intentioned, but its design may discourage genuine voluntary compliance.

A ₹1 crore income cap, coupled with rigid valuation rules and currency fluctuations, can push taxpayers outside the scheme despite modest economic exposure.

Ambiguity over conversion dates further adds uncertainty. The government should simplify valuation, clarify eligibility and prevent unnecessary litigation.

[Abhas Halakhandi @AbhasHalakhandi]

Q1 FY 2026-27 TDS revised return is getting rejected immediately upon upload, despite successful submission/e-verification.

With changes under the new Income-tax Act, 2025 and revamped TRACES portal, several technical glitches and process-related issues are being faced.

Request @IncomeTaxIndia to kindly resolve these issues at the earliest and ensure that new functionalities are launched only after proper testing!!

[CA Bimal Jain @BimalGST]

ICAI Releases Comprehensive Handbook on Residential Status for NRIs Covering Income-tax Act, 2025 and FEMA

Read More at: https://t.co/0QAtk2hG4P

[CA Anurag Sharma @caanuragwriter]

Read the original article based on Section 74 SC judgement in GR infra project in @taxguru_in . The article was published on 24 august 2026. Nice article by Mr Mihirkumar Patel
(Note: Beware of copy pastes)
https://t.co/FRtYZlXPRz

[CA Himank Singla @CAHimankSingla]

ROC compliance season 2025-2026 is here....

Professionals are getting busy with Corporate annual filings, and LLP Form 8 filing season is around the corner.

And honestly, one of the best professional decisions I made was to outsource my corporate & LLP compliance work to a good CS. ✅️

As a CA, I can handle many of these compliances myself. But I realised that I don’t have to do everything myself. A good CA + CS combination is about complementing each other’s strengths, not overlapping them.

CA brings expertise in accounts, audit, taxation, financial reporting and financial decision-making. My CS friend brings specialised expertise in Companies Act, ROC compliances, LLP matters, corporate law and governance.

When both work together, the client gets better advice, timely compliance and fewer blind spots... while we get to focus on the areas where our own expertise creates the most value.

Sometimes, the smartest professional decision is not to do more yourself.. but to build the right team around you.

CA + CS = collaboration, not competition. 🤝🌟

[Taxology India @taxologyin]

The government is tightening empanelment norms for forensic auditors after the ED flagged lapses involving two audit firms. Banks have since de-empanelled them and are reviewing existing engagements.

With nearly 800 agencies empanelled, the move highlights concerns over audit quality, independence and lender oversight, even as public sector banks report record profits.

[CA Akhil Pachori @akhilpachori]

.@officialepfo We have been trying for almost 3 months now to do a simple process of resigtering DSC

But it has been rejected after keeping it pending for long and now the new application is still pending at the end of commissioner to approve

All compliances are pending!!!

[Taxation Updates (CA Mayur J Sondagar) @TaxationUpdates]

Income Tax Portal Giving Form 10-IEA related warning after entering Aadhar OTP while filing ITR

This error will have to come while uploading JSON and not after filing ITR

If someone have opted for old Regime in AY 2024-25 by filing form 10-IEA and then reentered to new regime in AY 2025-26 by filing form 10-IEA then for ITR 3 and ITR 4 he had to file compulsorily in New regime in AY 2026-27 then why Portal giving warning that he had not provided form 10-IEA related data in json

@IncomeTaxIndia

[Pratibha Gupta @PratibhaGoyal]

TRACES (TDS) Update – Quarter 1, FY 2026–27

It has been observed that demands were incorrectly generated on the TRACES portal due to amounts being considered in paise.

TRACES will revert to its earlier approach, and such demands will be rectified automatically.

Accordingly, where a demand has arisen solely because of paise-level rounding, there is no requirement to file a correction TDS statement

[Taxology India @taxologyin]

Update: TDS Returns | FY 2026-27 Q1

Reprocessing of TDS returns where incorrect demands were raised due to interest not being adjusted, or for other reasons, has started.

However, currently, only TDS returns with demands of up to ₹100 are being reprocessed, and such demands are being vacated.

Requesting @IncomeTaxIndia to also reprocess other affected TDS returns, adjust the interest already paid, and vacate the incorrect demands.

This will provide much-needed relief to taxpayers and deductors facing such erroneous demands.

[PRADEEP GOYAL @GoyalPradeepCA]

Just received CPC order by my client.

Return filed on 21.07.2026
Refund processed on 25.08.2026
Refund amount : Rs. 20.81 lacs.
Within a month.

100% as claimed, directly in bank account. No cut, no commission, no bribe.

Thanks @IncomeTaxIndia @nsitharaman ji
Special thanks from assessee to sh. @narendramodi ji

This is why middlemen hate you Nirmala ji.. you are Rockstar.

[CA.Himalaya Bohra @CaHimalaya]

Dear

@IncomeTaxIndia
@FinMinIndia
@nsitharaman

The most surprising part is not that an error happened.

The officer has already been informed, acknowledged it and said that rectification is being done.

Yet, the SAME ERROR continues to appear in other cases from the same office.

If the department knows the mistake, why are fresh orders still carrying it?

Who is responsible for stopping this repetition?

[Taxology India @taxologyin]

This is absurd !!

Hey @cbic_india / @Infosys_GSTN , Please ensure that the SCN for a tax amount of less than ₹1,000 (CGST ₹500 + SGST ₹500) is dropped automatically.

Do not harass taxpayers unnecessarily

[Sweta Jain Patil @Anuana10]

And the story continues…
Earlier:- CGST notice - offline.
Detailed reply filed. Records submitted. Explained repeatedly that the disputed ITC was never availed and had already lapsed.
Today:- SGST notice u/s 74 - online.
Same issue again. Tax + interest + penalty proposed
One GST. One taxpayer. One transaction. But multiple notices and multiple explanations.
Where is the ease of doing business in this?

[Knowledge Hub @KHByte]

“குழந்தையின் தொண்டையில் ஏதேனும் பொருள் சிக்கினால�� செய்யவேண்டிய முதலுதவி என்ன”

- மருத்துவர் அருண்குமார் விளக்கம்

Video: SunNews

[Pratibha Gupta @PratibhaGoyal]

🧵 1/8 | Can the Income Tax Department deny your refund merely because you filed the return in response to a notice under Section 148?

The ITAT Delhi has answered: NO! ⚖️

In a major ruling, the Tribunal directed the Department to grant a refund of ₹5.31 lakh along with consequential statutory interest.

[Abhishek Raja "Ram" @abhishekrajaram]

Should GST registration cancelled for irregular or non-filing of returns be restored by extending the benefit of the Suguna Cutpiece ruling?

GST — Cancellation of Registration — Non/Irregular Filing of Returns — Assessee sought restoration of registration relying upon Suguna Cutpiece — Department contended that relief, if granted, must remain subject to conditions prescribed therein — HELD: Suguna Cutpiece having been followed consistently in several cases, judicial consistency required its application — Assessee directed to regularise pending returns, tax, interest and applicable dues and comply with prescribed safeguards concerning ITC and post-cancellation returns — Restoration of registration made expressly conditional upon fulfilment of such conditions — Writ petition disposed of accordingly.

Harini Agency v. The Superintendent of GST & Central Excise, Tambaram Range

Madras High Court | W.P. No. 32082 of 2026 | 20.-Aug-2026

[Pratibha Gupta @PratibhaGoyal]

ITAT Ahmedabad has held that where the tax declared in the return is accepted without any variation, interest under Section 234B cannot be charged beyond the date of payment of self-assessment tax.

In this case, CPC continued charging Section 234B interest till the date of processing under Section 143(1), even though the assessee had already paid the self-assessment tax on 03.04.2023.

The ITAT held that this was a mistake apparent from the record, rectifiable under Section 154, and directed CPC to recompute the interest only up to the date of tax payment.

📌 Vimal Sureshbhai Mishra v. ITO
📍 ITAT Ahmedabad
📅 Order dated: 25.08.2025

[Pratibha Gupta @PratibhaGoyal]

So I got an Assignment for Filing Income Tax Form 146 (Earlier Form 15CB)

I told required documents to the Client.

Client told me that TRC, which is one the major document is not available, but they want to take DTAA benefits and do not want to pay Tax.

Now I told them that Form 146 clearly asks if TRC was available and then only we can Give DTAA benefit.

I got no reply for Few Days!

Now I was told that some other CA filed it without any questions and hesitation. From now onwards he would be filing the other forms as well and that I ask too many questions and give unnecessary pain to finance department!