Harun Raaj & AssociatesHarun Raaj & Associates
+91 93008 97008Contact
CA Insights

Tax & compliance,
demystified.

Statute-cited guides to Indian income tax, GST, company law, FEMA, and more — every answer cites the section you can verify.

0
Articles
0
Practice areas
Weekly
New additions
0%
Statute-cited
AIF & Fund Management Services

6 articles

Topic page
Featured22 Sept 2026§ 15HB of the SEBI Act, 1992

AIF QAR for September 2026 Quarter: Deadline Is October 15

SEBI-registered Category I, II and III AIFs must file the Quarterly Activity Report for July–September 2026 by October 15, under the two-tier QAR/AAR reporting framework introduced by SEBI's March 2026 circular. Missing it exposes the fund to enforcement action under the SEBI Act and the AIF Regulations.

Read article →
7 Jun 2026§ 10(4D)

AIF Annual Compliance: Form N, Form N-2, SEBI Audit & CA Certificate Requirements

AIF sponsors must navigate multiple compliance layers annually: SAT reporting via Form N, scheme-level returns via Form N-2, statutory audit under SEBI AIF Regulations 2012, and mandatory CA certificates. Missing deadlines or filing errors attracts penalties and regulatory action.

Read →
8 May 2026§ 10(4D)

PPM and LPA Drafting for AIFs: SEBI Mandatory Disclosures, Co-Investment Rights, and the Key-Man Clause

Alternative Investment Fund (AIF) managers in India face strict SEBI requirements for Private Placement Memoranda (PPM) and Limited Partnership Agreements (LPA). This post covers mandatory disclosures, co-investment mechanics, and the critical key-man clause that regulators and CAs scrutinise.

Read →
16 Apr 2026§ 115UB

AIF Taxation in India: Category III Pass-Through, STCG Surcharge & Investor Reporting

Category III AIFs enjoy pass-through taxation under Section 115UB, but investors still face surcharge on short-term capital gains and must file Schedule CYLA. Understand the full tax burden, reporting requirements, and planning opportunities.

Read →
Audit & Assurance

11 articles

Topic page
Featured6 Sept 2026

"A net worth certificate is just a CA signature": what the law actually requires

Most people treat a net worth certificate as a one-page letter that a CA signs for a fee, with the figure being whatever the client declares. That belief costs money. A net worth certificate is an attestation engagement under the ICAI Guidance Note on Reports or Certificates for Special Purposes read with SAE 3000 (Revised), it requires a UDIN, and the certified figure must trace to Schedule III captions and verifiable records. Section 2(57) of the Companies Act 2013 defines net worth and expressly excludes revaluation reserves - a point that trips up companies that revalued property years ago. This article sets out where the definition comes from, what lenders and tender committees actually read the certificate for, how net worth triggers CSR under Section 135, internal audit under Section 138 and the 400 percent ODI cap under FEMA, and gives an eight-step process for producing a certificate that survives scrutiny. It also covers the ITA 2025 corroborating trail - the return of income, Schedule AL, and Form 26AS (now Form 168) - plus the Form 145 and Form 146 overlap for NRI remittances.

Read article →
4 Sept 2026

"A forensic audit is just a deeper statutory audit": what Indian law actually says

Most business owners believe a forensic audit is simply a statutory audit done more carefully, over a longer period, by someone more suspicious. That belief is wrong on every count. The trigger is different, the standard of proof is different, the output is different, and the liability the Chartered Accountant carries is different. A statutory auditor forms an opinion on whether financial statements give a true and fair view; a forensic auditor builds a case file intended to survive cross-examination. This piece sets out the four separate legal regimes that actually mandate forensic audits in India — Sections 210, 212, 213 and 143(12) of the Companies Act 2013, the RBI Red Flagged Account framework, SEBI LODR disclosure obligations, and transaction audits under IBC 2016 — and then explains the part practitioners most often get wrong: what makes forensic evidence admissible. Since 1 July 2024 the Bharatiya Sakshya Adhiniyam 2023 governs electronic records, and Section 63 certification is not optional. Includes a nine-step engagement checklist and the three distinct heads of personal liability a signing CA carries.

Read →
3 Sept 2026

"Only listed companies need a secretarial audit": what Section 204 actually says

Ask most promoters of an unlisted public company whether secretarial audit applies and you will hear a confident no — the reasoning is always that secretarial audit is a SEBI matter for listed companies. That belief has cost boards a flat Rs.2,00,000 penalty under Section 204(4) of the Companies Act 2013, and more often a qualified MR-3 report discovered days before an AGM. Section 204 does not turn on listing status alone. Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 sets four independent triggers, and three of them have nothing to do with the stock exchange — including one that catches private limited companies. This article sets out exactly who is covered, how the paid-up capital, turnover and Rs.100 crore borrowing tests are measured, what a company secretary in practice actually examines in Form MR-3, the appointment and tenure rules that changed for listed entities from FY 2025-26, and the working calendar to follow so the audit is not compressed into six weeks.

Read →
1 Sept 2026§ Section 143 of the Companies Act 2013

"Bank branch audit is just ticking vouchers": what RBI's LFAR and IRACP norms actually demand

Bank branch audit is widely described, even inside the profession, as a week of voucher-ticking in April. That description is wrong in a way that creates real professional risk. A branch statutory audit is a regulatory certification in which the auditor independently forms a view on asset classification under RBI's IRACP Master Circular, and where a wrong call on a single large advance can understate provisioning by crores. This article sets out what Section 143 of the Companies Act 2013 and the RBI prudential norms actually require: the 90-day NPA trigger running from the day after the due date, the borrower-wise classification cascade, the out-of-order test for cash credit accounts, the Substandard to Doubtful to Loss progression with provisioning rates, and the twenty-odd heads of the Long Form Audit Report. It then walks through where branch audits go wrong in practice, most often on drawing power recomputation, manual overrides of system-flagged NPAs, restructured account provisioning, and stale security valuations, followed by a step-by-step engagement checklist and the Memorandum of Changes discipline that turns findings into actual provisioning.

Read →
Business & Transaction Advisory

4 articles

Featured15 Aug 2026§ RBI Trade Receivables Discounting System Directions, 2026, dated 24 June 2026

RBI TReDS Directions 2026: MSME Invoice Discounting Reforms Explained

The RBI's new TReDS Directions 2026, notified June 24, 2026, remove MSME seller due diligence requirements, introduce NCGTC credit guarantees for financiers, and mandate CERSAI registration of invoice assignments. This article explains the five major reforms and their impact on MSME working capital.

Read article →
15 Aug 2026§ Ministry of Finance Cabinet Approval, ECLGS 5.0, dated 6 May 2026

ECLGS 5.0: 100% Guaranteed Working Capital for MSMEs Until March 2027

ECLGS 5.0, approved 6 May 2026, offers ₹2.55 lakh crore in 100% government-guaranteed working capital loans to qualifying MSMEs with existing bank or NBFC accounts. Borrowers can access up to 20% of peak Q4 FY26 utilisation (max ₹100 crore) with a 2-year principal moratorium. Applications close 31 March 2027.

Read →
26 May 2026§ 203

Virtual CFO vs Full-Time CFO for Indian SMEs — Cost, Value & When to Hire Which

A full-time CFO in India costs ₹60–180 lakh per year once PF, bonus, and fixed overheads are included. A Virtual CFO costs ₹15,000–55,000 per month. But the decision is not just about cost — it is about the stage of your business, the complexity of your compliance, and how much CFO-level judgment you actually need. This guide breaks it down.

Read →
24 May 2026§ 56(2)(viib)

Business Valuation in India — EV/Revenue & EV/EBITDA Multiples by Sector for FY 2025-26

What is your business worth? In India, valuation is not just a curiosity — it is a legal requirement for FDI, ESOP grants, buybacks, and M&A deals. This guide covers the three primary valuation methods, sector-specific EV/EBITDA multiples, Rule 11UA for angel tax, and how IBBI Registered Valuers differ from a CA valuation opinion.

Read →
Business Finance & Credit

6 articles

Topic page
Featured22 Sept 2026

ECLGS 5.0: 100% Guarantee on MSME Working Capital Credit

ECLGS 5.0 lets eligible MSMEs draw additional working capital credit at nil guarantee fee, with the government bearing 100% of the credit risk. The scheme window closes March 31, 2027 — here's who qualifies and how the process works through your bank.

Read article →
31 May 2026§ 141 of the Companies Act, 2013

SME Credit Ratings: How CAs Build the Financial Package That Wins CRISIL Ratings and Lower Borrowing Costs

A strong credit rating from CRISIL can slash your SME's borrowing costs by 1-3% per annum. Learn how the CRISIL SME rating process works, what financial documentation your CA must prepare, and why the quality of your numbers matters more than the size of your balance sheet.

Read →
23 May 2026§ RBI Master Direction on Credit

Working Capital Finance: CC vs OD vs Bill Discounting, DSCR Calculation & What Banks Check in Audited Financials

Banks offer three main working capital routes: Cash Credit (CC), Overdraft (OD), and bill discounting. Each carries different costs, compliance burdens, and risk profiles. Your DSCR ratio and audited financials determine approval odds and limits.

Read →
2 May 2026§ 45

NBFC Registration with RBI: Category A vs B, Rs. 10 Crore NOF, and Annual Compliance Checklist

The RBI's Scale-Based Regulation framework classifies NBFCs into Category A (minimum Rs. 10 crore NOF) and Category B, with distinct compliance requirements. This guide clarifies the registration path, regulatory distinctions, and the annual compliance obligations your finance company must meet.

Read →
Capital Markets & Investment Banking

15 articles

Topic page
Featured3 Nov 2026§ Regulation 3, SEBI (Investment Advisers) Regulations, 2013

Who is allowed to give me investment advice?

Who may legally give investment advice in India: SEBI-registered investment advisers, the exempt categories, the words a registered adviser cannot be without, and what the rules oblige them to tell you.

Read article →
22 Sept 2026§ 80

Startup India FoF 2.0: AIF Eligibility & Tax Rules for Managers

Startup India Fund of Funds 2.0 puts ₹10,000 crore behind SEBI-registered Category I and Category II AIFs, not startups directly. Here is the daughter fund eligibility criteria, DPIIT prerequisites, and the Section 115UB tax framework AIF managers and founders need to check before applying.

Read →
15 Aug 2026§ 24

SEBI's MF-PMS Framework: ₹25L Minimum, 2.5% Fee Cap Explained

SEBI's July 2026 consultation paper proposes a new MF-PMS registration category with a ₹25 lakh minimum investment (down from ₹50 lakh), a 2.5% management fee cap, and mandatory separation between MFD and advisory operations. Here's what changes if finalised.

Read →
11 Jul 2026§ SEBI (Mutual Funds) Regulations

SEBI Clarifies Intraday Borrowing by Mutual Funds: What It Means

SEBI has issued a clarification on the intraday borrowing facility available to mutual funds, addressing the operational framework for managing liquidity mismatches within the trading day. This update matters to fund houses, asset managers, and investors tracking mutual fund risk management.

Read →
Company Law & MCA Compliance

13 articles

Topic page
Featured24 Oct 2026§ 33

Your First LODR Financial Results Deadline After an SME IPO: What Newly-Listed Companies Must Do Before November 14

Newly-listed SME companies must file financial results. Deadline approaching for H1 FY2026-27.

Read article →
23 Oct 2026§ 34(3) of the LLP Act, 2008

LLP Form 8: Statement of Account and Solvency, 30 October 2026 Deadline

LLP Form 8 is a statement of account and solvency. Deadline is October 30, 2026.

Read →
21 Oct 2026§ 188 of the Companies Act, 2013

"Any RPT just needs board approval": what Section 188 actually says

Section 188 requires board and member approval for related-party transactions. Board approval is not enough for large transactions.

Read →
22 Sept 2026§ 135

Corporate Laws (Amendment) Bill 2026: What Changes for India Inc

The JPC has endorsed the Corporate Laws (Amendment) Bill, 2026, proposing changes to CSR thresholds, fast-track mergers, decriminalisation of procedural defaults, and NFRA's powers. None of it is law yet — here is what to track and what to leave untouched until Presidential Assent.

Read →
Business Compliance & Labour Law

55 articles

Topic page
Featured4 Oct 2026§ 179

RBI Project Finance Directions 2025: Bank Requirements

The RBI’s 2025 Project Finance Directions set clear rules for banks on documentation, land thresholds, DCCO dates and DSCR expectations. Learn why a CA‑certified financial model and a detailed project report are non‑negotiable for getting your loan disbursed.

Read article →
4 Oct 2026

EPF Wage Ceiling Raised to ₹25,000: Employer Compliance Guide

The Ministry of Labour and Employment has increased the EPF wage ceiling from ₹15,000 to ₹25,000 effective 17 September 2026. This guide explains who is affected, how contributions change, and the steps employers must take to stay compliant.

Read →
22 Sept 2026§ 7Q of the EPF & MP Act, 1952

EPFO VISHWAS 2026: Settle PF Default Notices Before Dec 28

EPFO's VISHWAS 2026 one-time settlement scheme lets employers close pending PF damage and penalty disputes for defaults before 14 June 2024 at sharply reduced rates. The window under Paragraph 23 of the EPF Scheme, 2026 closes on 28 December 2026, and eligibility depends on clearing Section 7Q interest in full first.

Read →
11 Sept 2026

"Bonus must be 20% of my salary": what the Payment of Bonus Act and the 2026 Code on Wages rules actually say

Every October the same claim circulates: statutory bonus is 20% of your salary. It is not. Statutory bonus in India is a floor of 8.33% and a ceiling of 20%, and it is calculated not on your actual pay but on a capped wage figure of Rs 7,000 per month, or the notified minimum wage for your scheduled employment if that is higher. Eligibility itself stops at Rs 21,000 of monthly basic plus dearness allowance. On 25 August 2026 the Ministry of Labour and Employment notified the bonus eligibility and calculation rules under the Code on Wages, 2019, carrying both figures forward from the 2016 amendment to the Payment of Bonus Act, 1965. This article sets out the operative sections under both statutes, works through four real salary scenarios, explains the five-year infancy exemption under Section 16, the set-on and set-off mechanism, the Section 43B timing trap for employers, and the 30 November 2026 payment deadline for the accounting year ended 31 March 2026.

Read →
Cost Audit & CMA Services

5 articles

Topic page
Featured15 Aug 2026§ Section 148, Companies Act 2013

Cost Audit in 2026: What the Law Requires Now, and Where the Corporate Laws (Amendment) Bill Stands

Cost audit obligations today come from Section 148 of the Companies Act 2013 and the Rules of 2014, as amended — not from the Corporate Laws (Amendment) Bill 2026, which was referred to a Joint Parliamentary Committee in March 2026 and had not been passed as of 27 October 2026. Here is the current-law CRA-2/CRA-3/CRA-4 timeline, the thresholds and penalties, and the Bill's verified status.

Read article →
5 Jun 2026§ 92C of the Income Tax Act, 1961

Standard Costing for Manufacturers: Bridging Product Costs and Transfer Pricing Under Section 92C

Manufacturers face a twin challenge: keeping product costs accurate via standard costing while simultaneously defending transfer prices to tax authorities. Section 92C demands robust documentation. Form 3CEB requires certified cost accounting records. This post shows how to make standard costing serve both objectives.

Read →
4 Jun 2026§ 3

DPCO Compliance for Pharma: Cost Statement Format, Ceiling Price Reporting & NPPA Rules

The Drug Price Control Order (DPCO) 2013 mandates strict cost accounting and price declaration for pharma companies. We break down cost statement format, NPPA ceiling price calculations, and critical compliance deadlines.

Read →
11 May 2026§ 92C

Stock Audit for Bank Borrowers: RBI Guidelines, Ind AS 2 Valuation, and LFAR Findings

Banks require independent stock audits under RBI guidelines before releasing credit limits. This post covers RBI norms on stock and book debt valuation, Ind AS 2 compliance, and how LFAR findings impact borrower credibility and loan security.

Read →
Customs Duty & Trade Policy

7 articles

Topic page
Featured10 Oct 2026§ Customs Act, 1962

RoDTEP Scheme Extended to 31 December 2026 – Rates Unchanged

The DGFT has extended the RoDTEP duty remission scheme to 31 December 2026. All eligible exporters can continue claiming the same rates and value caps via ICEGATE e‑scrips, with no procedural changes.

Read article →
19 Jun 2026§ Customs Act, 1962

EOU and IGCR Compliance: Duty-Free Imports Under Customs Rules 2017

Export Oriented Units (EOUs) are permitted to import capital goods, raw materials, and consumables without customs duty under the Customs (Import of Goods at Concessional Rate) Rules 2017. This concession is subject to strict compliance conditions and end-use verification by Customs authorities.

Read →
10 Jun 2026§ 12 of the Customs Act, 1962

Customs Duty in India: BCD, IGST on Imports & the ITS Explained

Customs duty is not just a single levy--it's a layered system of Basic Customs Duty, additional duties, and IGST. Understanding the Integrated Tariff Schedule and how these duties interact is critical for importers, manufacturers, and NRIs bringing goods into India.

Read →
23 Apr 2026§ 73(3) of the Customs Tariff Act, 1975

Anti-Dumping Duty in India: DGTR Investigation, Provisional vs Final Duty, and High Court Challenge

Anti-dumping duty protects Indian industry from cheap imports. The Directorate General of Trade Remedies (DGTR) conducts investigations that can result in provisional and final duties. Importers have legal grounds to challenge these findings at the High Court.

Read →
Direct Tax Services

125 articles

Topic page
Featured10 Nov 2026

S.148 notice beyond 3 years fails on both sanction and the Rs.50L test (ITAT Hyderabad)

The approval and sanction under section 151 was invalid, and independently the Assessing Officer failed to bring the case within the mandatory section 149(1)(b) conditions for proceedings after three years — either defect invalidates the reopening.

Read article →
10 Nov 2026

CIT(A) cannot recharacterise s.68 as s.69A without notice (ITAT Hyderabad)

The Tribunal held it has no such power: in the absence of any power vested in the Commissioner (Appeals) to treat a section 68 addition as a section 69A addition, the recharacterised confirmation was deleted.

Read →
10 Nov 2026

S.270A penalty fails where a salaried assessee revised on a wrong exemption belief (ITAT Delhi)

The Tribunal noted the original income matched tax deducted at source, the revision rested on a wrong impression about voluntary retirement benefits, and there was no loss to the Revenue.

Read →
10 Nov 2026

S.69 and s.69A additions deleted: documents on record, suspicion is not proof (ITAT Raipur SMC)

On section 69, the Tribunal recorded that the documentary evidence had been filed before the Assessing Officer, that the Departmental Representative did not contend it was additional evidence, and that an addition based on summary observation without legal validity cannot sustain — directing deletio

Read →
Emerging & Next-Gen Compliance

15 articles

Topic page
Featured8 Aug 2026§ Section 2(47A), Income-tax Act 1961

Section 2(47A) Virtual Digital Asset Definition: NFTs, Stablecoins and CBDC Edge Cases

s.2(47A) ITA 1961 defines a VDA as any cryptographically generated token of value — expressly including NFTs — but not Indian/foreign currency or any digital asset notified as excluded. The e-Rupee is likely outside it. Stablecoins are likely VDAs, with no express CBDT exclusion.

Read article →
8 Aug 2026§ Section 115BBH, Income-tax Act 1961

P2P Crypto Trades and Foreign Exchanges: INR Conversion, RBI Rate and ITR Disclosure

31.2% applies to every P2P and foreign-exchange VDA sale — converted to INR at the trade-date RBI reference rate in Schedule VDA, with foreign-held VDAs disclosed in Schedule FA, and a FEMA angle on holding abroad that needs specialist review.

Read →
8 Aug 2026§ Section 115BBH, Income-tax Act 1961

Schedule VDA in ITR-2: How to Report Bitcoin, Ethereum and Exchange P&L

30% plus 4% cess is the rate on every VDA gain reported in Schedule VDA of ITR-2 or ITR-3 — with type of VDA, acquisition date, transfer date, consideration, and cost in INR, not in Schedule OS or CG. The AIS shows gross sale consideration, so transaction-level disclosure is what reconciles.

Read →
8 Aug 2026§ Section 115BBH, Income-tax Act 1961

Crypto Tax in India: 30% + 4% Cess on VDA Gains — What Salaried Employees Owe

31.2% effective tax (30% under s.115BBH plus 4% cess) applies to every VDA gain in FY 2025-26, regardless of holding period or regime, with no deduction beyond cost of acquisition. Salaried employees must pay advance tax quarterly if VDA gains push tax above ₹10,000 after TDS.

Read →
Exporters — Tax, GST & FEMA

6 articles

Topic page
Featured22 Jun 2026§ 13

FEMA Export Realisation: The 9-Month Rule, Write-Off, and Section 13 Penalties Explained

Exporters must realise export proceeds within 9 months under FEMA Notification 23(R). Failure invites penalties under Section 13 of FEMA. This post covers the realisation rule, write-off eligibility, penalty mechanics, and compliance steps.

Read article →
13 Jun 2026§ 13

Advance Authorisation under Foreign Trade Policy: Routes, SION Norms, and Closing Export Obligation

Advance Authorisation lets you import raw materials and components duty-free to manufacture and export finished goods. This guide covers the pre-import and post-import routes, SION norms, and the critical compliance rules for closing your export obligation.

Read →
10 Jun 2026§ 10AA

Software Exports and SOFTEX Filing: STPI, FEMA 23(R), and the Non-Negotiable CA Certificate for Section 10AA

If you export software through an STPI unit, you cannot claim Section 10AA exemption without a Chartered Accountant certificate. This post explains SOFTEX filing, FEMA 23(R) compliance, and why the CA sign-off is legally mandatory, not optional.

Read →
16 May 2026§ 13

EPCG Scheme: Zero-Duty Capital Goods Import & Export Obligation Calculator Under FTP 2023

The Export Promotion Capital Goods (EPCG) scheme lets exporters import capital goods at zero customs duty--but only if you fulfill your export obligation. This guide walks you through duty-free import eligibility, obligation calculation, and the penalties that hit hard when you fall short.

Read →
FEMA & Cross-Border Transactions

11 articles

Topic page
Featured3 Nov 2026§ Section 2(v), Foreign Exchange Management Act, 1999

I left India but my savings account is still resident: what to do

You moved abroad and your Indian savings account never changed. How FEMA and tax residence differ, why the account matters, and the steps to take.

Read article →
23 Oct 2026§ 15 of FEMA and the Foreign Exchange (Compounding Proceedings) Rules, 2024

"We'll sort FC-TRS later": why FEMA's 60-day rule has no grace period

FEMA's 60-day rule for FC-TRS has no grace period. The clock starts when money moves or instruments change hands.

Read →
22 Oct 2026§ 247

"Your valuation report is wrong if it's not from the right person": what FEMA and the Companies Act 2013 require — and who is authorised to sign

Valuation reports for unlisted shares require specific signatories. FEMA and Companies Act have different requirements.

Read →
4 Oct 2026§ 6

NRI Residency Rules 2025 – Changes for FY 2026‑27

From FY 2026‑27 the Income‑tax Act 2025 governs NRI residency, but the three residency categories and day‑count tests stay the same. Learn how the new law interacts with FEMA and what practical steps you must take to avoid penalties.

Read →
Indirect Tax Services

25 articles

Topic page
Featured10 Nov 2026§ Notification No. 12/2017-Central Tax (Rate), entries 12 and 14; Notification No. 04/2022-Central Tax (Rate)

GST AAR Conflict Atlas #1: Hostel, PG and Residential Renting

Edition 1 (10 Nov 2026): 67 GST advance rulings on whether hostel, PG and residential renting is exempt, read and counted in aggregate, and where they conflict.

Read article →
2 Nov 2026§ Rule 142(1A), CGST Rules

A DRC-01A intimation arrived — should we pay, reply, or wait for the show-cause notice?

What a GST DRC-01A is under rule 142 of the CGST Rules, what Parts A, B and C do, where the thirty days really sit, and how DRC-03 and DRC-03A fit in.

Read →
2 Nov 2026§ Section 16(2), Central Goods and Services Tax Act 2017

My supplier didn't pay GST: do I lose my input tax credit?

Section 16 CGST conditions for input tax credit, what happens when a supplier does not file or pay, rule 36(4), rule 37A, the 30 November cut-off and re-availing credit.

Read →
23 Oct 2026§ 16(4) of the CGST Act

Rule 37A ITC Reversal: How to Handle Supplier Non-Filing Before 30 November 2026

Rule 37A of CGST Rules requires reversal of Input Tax Credit if supplier hasn't filed GSTR-3B. Reversal must be done by 30 November 2026 for FY 2025-26.

Read →
NGO, Trust & Not-for-Profit

8 articles

Topic page
Featured4 Oct 2026§ 16(1)

FCRA Extended Validity Ended on 30 September 2026: What NGOs With Pending Renewals Should Do Now

The Ministry of Home Affairs’ July 2026 circular extended FCRA validity only up to 30 September 2026. NGOs that filed Form FC‑3C before expiry but are still awaiting a decision must act now to avoid losing the right to receive foreign contributions.

Read article →
22 Sept 2026§ 12AB(1)

10-Year Trust Registration for Small Trusts (s.332(5), ITA 2025; ex-s.12AB)

Small trusts with income up to Rs.5 crore keep a 10-year registration — under s.12AB for pre-April-2026 grants, s.332(5) of ITA 2025 after. Donor-deduction approval stays on its 5-year cycle (s.80G, then s.354).

Read →
22 Sept 2026§ 14

FCRA June 2026 Changes: FC-6F, Key Functionary Rules & ₹10L Trap

The Foreign Contribution (Regulation) Rules, 2011 were amended on 22 June 2026, widening the definition of "key functionary," introducing a ₹10 lakh utilisation threshold, and mandating Form FC-6F for every FCRA-registered organisation. Here is what changed, what deadlines apply, and what registered NGOs and trusts need to do now.

Read →
1 Jun 2026§ 271K

Form 10BD and 10BE: Donor Statements, May 31 Filing, Section 271K Penalty, and Donation Certificates

Not-for-profit organisations must file Form 10BD and 10BE by May 31 with detailed donor information. Miss the deadline and face Section 271K penalty. Here's what triggers penalties, how to compute them, and best practices for issuing donation certificates to maintain compliance.

Read →
NRI Services

56 articles

Topic page
Featured24 Oct 2026§ 195 of the Income-tax Act, 1961

TDS on Payments to NRIs under Section 393(2) ITA 2025 (formerly Section 195): Who Deducts, At What Rate, and What Happens If You Miss It

TDS on payments to NRIs, deduction rates and consequences of non-deduction. Payers must deduct TDS on sums chargeable to tax in India.

Read article →
22 Oct 2026§ 11

"My share of firm profits is tax-free in India": what ITA 2025 actually says for NRI partners

NRI partner's share of Indian firm's total income is exempt from income-tax, but only the profit share.

Read →
16 Sept 2026§ Section 195, Income-tax Act 1961; FEMA (Remittance of Assets) Regulations 2016 (FEMA 13(R)/2016-RB)

NRI Sold Property Below ₹50 Lakh Without TDS: What Happens Next?

When an NRI sells property in India, the ₹50 lakh TDS exemption under Section 194-IA does not apply — Section 195 has zero threshold. Here is what the buyer and seller each owe, and how to fix it.

Read →
13 Aug 2026§ Section 195, Income-tax Act 1961

"Every foreign remittance needs a CA certificate": What ITA 2025 actually says

Walk into almost any bank branch in India with a request to remit money abroad and you will hear the same sentence: "Sir, you need 15CA and 15CB from a CA." It is stated as though it were a universal rule. It is not. A large share of outward remittances, including some of the most common ones NRIs make, require no CA certificate at all, and a meaningful number require nothing beyond a simple self-declaration. Since 1 April 2026 the forms have been renumbered: Form 15CA is now Form 145 and Form 15CB is now Form 146 under the Income-tax Act, 2025. This guide sets out the four-part structure of Form 145, the exact circumstances in which a CA certificate in Form 146 is genuinely mandatory, the specified purposes and LRS carve-out where no filing is needed at all, the aggregate Rs.5,00,000 tax-year threshold that catches people making several mid-sized remittances, and the penalty exposure under Section 201 when withholding goes wrong.

Read →
Operations & CFO Services

6 articles

Topic page
Featured22 Sept 2026§ 145

Cash to Accrual Accounting: Triggers, Tax Rules and the Audit Test

Every company must keep accrual-basis books from incorporation (Companies Act s.128(1)). For income tax, s.145 (1961) and s.276 (2025) allow cash or mercantile accounting. Who must switch, and what an audit does and does not change.

Read article →
15 Jun 2026§ 179

Working Capital Management: Cash Conversion Cycle, Credit Terms & TReDS Invoice Discounting

Working capital management isn't about juggling; it's about moving cash intelligently. Learn to decode your cash conversion cycle, negotiate supplier and customer terms that don't strangle your business, and use TReDS platform effectively for invoice discounting under RBI framework.

Read →
26 May 2026§ 179

Financial Projections for Fundraising: 3-Statement Model, Ind AS 115 Revenue Recognition & Board Approval Under Section 179

Fundraising demands credible 3-statement projections: P&L, balance sheet, and cash flow. Investors scrutinize revenue recognition under Ind AS 115, debt capacity, and working capital. Board approval under Section 179 is mandatory, not optional.

Read →
20 May 2026§ 179

MIS Reporting for Growing Businesses: P&L, Cash Flow & KPI Dashboards

Growing businesses live and die by visibility. Management Information Systems (MIS) reporting transforms raw financial data into dashboards that drive decisions. Learn what your P&L, cash-flow, and KPI dashboards should track, and how Ind AS schedules integrate into monthly management accounts.

Read →
Resident Welfare Associations

4 articles

Featured28 Jun 2026§ 44AB of the Income Tax Act

RWA Audit & Accounting: Receipts & Payments, Sinking Fund, and Statutory Requirements

Residential Welfare Associations must file statutory audits and maintain compliant accounts under the Societies Registration Act. This guide covers receipts and payments preparation, sinking fund accounting, and audit requirements that RWA secretaries and treasurers must follow.

Read article →
25 Jun 2026§ 2(24)

Income Tax for Resident Welfare Associations: Mutuality, Exemptions, and ITR-5 Filing

Resident Welfare Associations operate under the mutuality principle under Section 2(24) of the Income Tax Act. Learn which RWA income is exempt, exemption limits, and when ITR-5 filing becomes mandatory.

Read →
20 Jun 2026§ 194C

TDS Obligations for RWAs: Section 194C & 194J, and Monthly Form 26Q Filing

Residential Welfare Associations often overlook their TDS filing duties. This post covers Section 194C on maintenance contractor payments, Section 194J on professional fees, and the critical monthly Form 26Q deadline--with compliance checklists for RWA treasurers and accountants.

Read →
29 May 2026§ 194C

GST on RWA Maintenance Charges: The Rs.7,500 Threshold and ITC Compliance

Residential Welfare Associations collecting maintenance charges under Rs.7,500 per member per month enjoy GST exemption under Notification 12/2017-CT(R). But the threshold is strict, ITC reversal rules bite hard, and GSTR-1 disclosure matters. Here's how to stay compliant.

Read →
Trademark & IP Services

5 articles

Topic page
Featured25 Jun 2026§ 6(1)(d) of the Trade Marks Act, 1999

Trademark Registration in India: The 4-Step Process Under Trade Marks Act 1999, Class 35 for Service Businesses, and Why a CA Should Handle the IP Audit

Trademark registration in India follows a four-step statutory process under the Trade Marks Act, 1999. Service businesses use International Classification Class 35. A CA's IP audit protects your intangible assets and ensures tax compliance.

Read article →
16 Jun 2026§ 44

Copyright Registration Under Section 44 of the Copyright Act 1957: Why Software Companies Need It

Copyright registration under Section 44 of the Copyright Act 1957 provides statutory evidence of ownership and is essential for software companies enforcing IP rights. We explain what qualifies for registration, the procedure, and why it matters for your business.

Read →
17 Apr 2026§ 9(1)(b)

Trademark Objection Reply Under Rule 45: Common Grounds and Winning Strategies

A trademark objection under Rule 45 of the Trade Marks Rules 2017 is not a death sentence for your application. The Trademark Registry issues objections on specific grounds--many of which are defensible with solid evidence and case law. Learn how to draft a response that actually persuades the examiner.

Read →
11 Apr 2026§ 128

IP Due Diligence in M&A: Valuing Trademarks, Checking Encumbrances & Schedule III Disclosures

In M&A transactions, intellectual property due diligence is non-negotiable. Here's how to value trademarks, spot encumbrances, and comply with Schedule III disclosure rules under the Companies Act 2013.

Read →
Wealth & Treasury Management

23 articles

Topic page
Featured3 Nov 2026§ Schedule I, para 2.C.a, IRDAI (Insurance Products) Regulations, 2024

Is the bonus on my insurance policy guaranteed?

What a bonus on a with-profits life policy is, how regular, interim and terminal bonus differ, and what is guaranteed versus declared, under IRDAI's 2024 rules.

Read article →
3 Nov 2026§ Paragraphs 10, 11 and 13, Public Provident Fund Scheme, 2019 (G.S.R. 915(E))

PPF Maturity, Partial Withdrawal and Premature Closure: What the Scheme Says

PPF maturity, partial withdrawal and premature closure under the 2019 Scheme, and why the tax exemption should be confirmed with your CA.

Read →
22 Sept 2026§ 171

HUF Partition in India: Tax Rules Under Section 315 of the Income-tax Act 2025 (formerly Section 171)

A partition of a Hindu Undivided Family has no tax effect until the Assessing Officer records it, and a partial partition is not recognised. What Section 315 of the Income-tax Act 2025 (formerly Section 171) requires.

Read →
22 Sept 2026§ 2(31)

Private Discretionary Trust vs HUF: 2026 Planning Guide

HUF vs private discretionary trust for Indian families: separate-person status, Section 164(1) MMR taxation, partition rules and what ITA 2025 in force since 1 April 2026 changes.

Read →
Advisory

2 articles

Featured15 Aug 2026§ DPIIT Press Note No. 3 (2026 Series), July 23 2026, para 5.2.15.2.5; FEM (NDI) Rules 2019; Draft FEMA (Foreign Investment) Rules 2026

FDI in India E-Commerce: DPIIT Press Note 3 (2026) Opens Inventory-Based Export Route

India''s FDI policy for e-commerce has had one inviolable rule for nearly a decade: foreign money can fund the marketplace platform, but not the inventory. On July 23, 2026, DPIIT Press Note No. 3 (2026 Series) created the first exception — foreign-invested e-commerce entities may now operate an inventory-based model, but exclusively for the export of goods manufactured or produced in India.

Read article →
Income Tax

25 articles

Topic page
Featured3 Nov 2026§ Section 44BBC, Income-tax Act, 1961

Section 44BBC: presumptive tax for non-resident cruise operators

Section 44BBC deems 20% of passenger-carriage amounts to be a non-resident cruise operator's business profit. Scope, conditions, years, and section 61 of the 2025 Act.

Read article →
3 Nov 2026§ Section 44BBD, Income-tax Act, 1961

Section 44BBD: presumptive tax for services to electronics manufacturers

Section 44BBD of the Income-tax Act, 1961 treats 25% of the fees a non-resident earns for services or technology given to a resident electronics manufacturer as business profit. Who qualifies, and what follows.

Read →
3 Nov 2026§ Sections 80C and 80D, Income-tax Act, 1961

80C vs 80D: two different deductions, how each works

Section 80C rewards saving and certain spending; section 80D rewards health cover. Different caps, different payment rules, and neither survives the new regime.

Read →
3 Nov 2026§ Section 80D, Income-tax Act 1961 (section 126, Income-tax Act 2025)

80D for parents: how much can I claim, senior and non-senior

How much health insurance deduction you can claim for your parents under section 80D: limits for non-senior and senior parents, check-ups, cash rule and the new regime bar.

Read →
Itr

1 article

New_legislation

1 article

Nri Tax

10 articles

Topic page
Featured17 Sept 2026

"I inherited the shares, so my cost is zero": What ITA 2025 actually says

Heirs of Indian shares routinely assume their cost of acquisition is zero and that their holding period restarts on the date of death. Both assumptions are wrong, and together they can inflate a tax bill by several lakh rupees. Section 49(1) of ITA 1961, retained under ITA 2025, deems your cost to be the previous owner's cost, and the Explanation to Section 2(42A) adds the previous owner's holding period to yours. Crucially, the 31 January 2018 grandfathering benefit under Section 55(2)(ac) travels with the inheritance. This guide works through the three-step grandfathering formula with a full NRI worked example, the Section 112A and 111A rates for Tax Year 2026-27, transmission mechanics, TDS treatment, advance tax timing, and the ITR-2 Schedule 112A entries that heirs most often get wrong.

Read article →
16 Sept 2026

"Just sell and rebuy on March 31 to reset your gains": What ITA 2025 actually says about capital gains harvesting

Every February the same message circulates in NRI investor groups: sell your equity funds on March 30, book Rs.1.25 lakh of long-term gains tax-free, buy back on March 31, and you have reset your cost base for free. The strategy is real. The way most people describe it is wrong on three separate counts. The Rs.1.25 lakh LTCG exemption under ITA 2025 is an aggregate per taxpayer per tax year, not per folio, per demat account or per sale. India genuinely has no wash-sale rule for listed securities, so the sell-and-rebuy gap is legal, but the repurchase restarts the 12-month holding clock at zero. And for NRIs specifically, a TDS layer sits between the sale proceeds and the bank account that resident investors never encounter: the AMC deducts on the computed gain without knowing your exemption headroom, so tax is collected first and refunded a year later. The entire strategy is capped at Rs.15,625 of annual benefit. This article sets out what the law says, what the TDS arithmetic does to NRI portfolios, and a nine-step process to execute it correctly before Tax Year 2026-27 closes.

Read →
15 Sept 2026

"Book ₹1.25 lakh of gains every year and pay zero tax": What ITA 2025 actually says

Every February the same message circulates: sell shares worth ₹1.25 lakh of profit before 31 March, buy them back the next morning, and you have legally erased that tax forever. The strategy is real and legal — but the people repeating it get three things wrong that cost more than the tax saved. India has no general wash-sale rule for harvesting gains; Sections 94(7) and 94(8) target dividend and bonus stripping only, and GAAR needs a ₹3 crore benefit before it bites. The ₹1.25 lakh exemption under Section 112A is per PAN per tax year, not per demat account — three brokers does not mean ₹3.75 lakh. And for NRIs the AMC deducts TDS under Section 195 without applying the exemption at all, locking up the refund for 9 to 15 months. This piece sets out the exact arithmetic, the assets the exemption does not cover, and a nine-step execution sequence under ITA 2025.

Read →
13 Sept 2026

"I'll just park it in NHAI bonds": What Section 54EC actually says in 2026

Almost every property seller says the same sentence: "I'll put the gain into NHAI bonds and the tax goes away." Two things are wrong with it. NHAI stopped issuing capital gains bonds years ago, so the instrument no longer exists. And the relief itself is capped, time-bound, and structured in a way that quietly disqualifies a large share of the people who assume they qualify. This article sets out what Section 54EC actually covers under the Income Tax Act 2025 — why only land and building gains qualify, why the Rs.50 lakh ceiling now spans two Tax Years rather than one, why the six-month window runs from the date of transfer and not from the date consideration is received, and why the five-year lock-in cannot be broken even by pledging the bonds. It also covers the issuers still in the market — REC, PFC and IRFC, all at 5.25% with fully taxable interest — and the specific Section 195 withholding problem that strands NRI sellers' liquidity before they can fund the investment, plus the Section 197 certificate that solves it.

Read →
Roc

2 articles

Schemes

2 articles

Startup

1 article

Tax

2 articles

Get notified when we publish

New statute-cited guides every week. No spam. Unsubscribe any time.