TAX UPADESH

ROC ANNUAL FILING 2026 Company Annual Filing 2026: Don’t Miss These AOC-4 and MGT-7 Checks Finishing the AGM does not complete your company’s annual compliance. The financial statements and annual return must also be filed correctly. Important: The filing deadline depends on the date of the AGM. It should not be assumed that every company has the same due date. Many directors believe that company compliance is completed once the Annual General Meeting is held. However, two important ROC filings normally remain: AOC-4: Filing of financial statements and related documents. MGT-7 or MGT-7A: Filing of the company’s annual return. These forms contain important financial, ownership, management and compliance information. They should be checked carefully before uploading them on the MCA portal. What are the normal filing periods? ...

GST ACTION CHECKLIST GST ITC Deadline 2026: Complete These Checks Before 30 November A missing invoice, an incorrect GSTIN or unreconciled GSTR-2B may result in eligible input tax credit being left unclaimed. Important for every GST-registered business: Do not wait until 30 November 2026. Start checking FY 2025–26 purchase invoices, GSTR-2B and books now. Many business owners believe that GST input tax credit can be claimed whenever an old invoice is found. This is not always correct. Section 16(4) of the CGST Act provides a time limit for claiming ITC. For invoices and debit notes relating to FY 2025–26, the outer limit is generally 30 November 2026 or the date of filing the relevant annual return, whichever is earlier. This makes October and early November the right time to complete a detailed GST reconciliation. What should a business check? ...

COMPANY COMPLIANCE CHECK MSME Form I Due by 31 October 2026 Check whether your company has payments pending to micro or small enterprises for more than 45 days. First check applicability—do not file blindly Under the amendment dated 15 July 2024, only specified companies having payments pending to a micro or small enterprise for more than 45 days from acceptance or deemed acceptance are required to furnish MSME Form I. What is MSME Form I? MSME Form I is a half-yearly return filed with the Registrar of Companies. It gives prescribed information relating to payments made or remaining outstanding to micro and small enterprise suppliers. The reporting requirement arises under an order issued under Section 405 of the Companies Act, 2013. The form is presently available as a web-based form on the MCA V3 portal. April–September ...

INCOME TAX • OCTOBER 2026 Q2 TDS Return Due 31 October 2026: Do These 12 Checks Before You File A return can pass validation and still contain a wrong PAN, section, rate or challan mapping. A careful review now can reduce corrections and unwanted notices later. Important 2026 change: Under the Income-tax Rules, 2026, the current quarterly TDS forms are Form 138 for salary, Form 140 for non-salary payments to residents and Form 144 for non-salary payments to non-residents. These replace the familiar Form 24Q, Form 26Q and Form 27Q numbers. What is due on 31 October? The quarterly TDS statement for the period 1 July to 30 September 2026 is due on 31 October 2026 . This applies to deductors who must report TDS for Q2. Current form Earlier name Use Form 138 24Q Salary, and specified pension/interest reporting Form 140 26Q Non-salary payments to residents Form 144 27Q N...

GST E-INVOICE CONTROL ₹5 Crore+ Businesses: One Late E-Invoice Can Get Blocked After 30 Days Invoice prepared in your accounting software does not automatically mean a valid e-invoice exists. The IRN must be generated within the permitted reporting window. The rule businesses must remember From 1 April 2025 , taxpayers with annual aggregate turnover of ₹5 crore or more must report applicable e-invoices within 30 days from the document date . The restriction covers invoices, credit notes and debit notes. If the document is older than the permitted period, the Invoice Registration Portal restricts IRN generation. Why this is more than a billing issue A sales invoice may be entered in the books, shared with the customer and included in internal reports. But where e-invoicing applies, the document also needs a valid Invoice Reference Number and signed QR code generated through an authorised IRP. If the finance team discove...

LLP ANNUAL COMPLIANCE LLP Form 8 Due by 30 October 2026: Even a Nil-Business LLP Must Check This No sales, no bank movement or no profit does not automatically remove the annual MCA filing requirement. What is due? Every LLP must file its Statement of Account and Solvency in Form 8 within 30 days from the end of six months of the financial year. For an LLP whose financial year ended on 31 March 2026 , the normal filing date is 30 October 2026 . What does Form 8 contain? Form 8 is not only a turnover declaration. It records the LLP’s financial position and includes a statement relating to its solvency. It is filed under Section 34 of the LLP Act, 2008 read with Rule 24 of the LLP Rules, 2009. 01 Statement of solvency The designated partners make the prescribed declaration concerning the LLP’s ability to meet its liabilities. 02 Statement of accounts Assets, liabilities, income and expenditure must agree w...

STARTUP INDIA UPDATE Company Incorporated? Check Your DPIIT Startup Recognition Eligibility Incorporation creates your entity. DPIIT Startup recognition is a separate application. Important 2026 change The general turnover ceiling for DPIIT Startup recognition has increased from ₹100 crore to ₹200 crore . The revised framework also provides extended limits for qualifying DeepTech startups. Incorporation and DPIIT recognition are different Process What it means Entity incorporation Creates the company, LLP or registered partnership under the applicable law. DPIIT recognition Recognises an eligible entity as a startup under the Startup India framework. Income-tax benefit Requires separate eligibility and compli...

GST ITC CHECKLIST GST Input Tax Credit Missing or Mismatched? Match purchase invoices, books and GSTR-2B before filing GSTR-3B. An invoice in your books is not enough The purchase register may contain GST, but the credit should be claimed only after checking the legal conditions, GSTR-2B status and business purpose. What is GSTR-2B? GSTR-2B is an auto-drafted, read-only Input Tax Credit statement generated from details furnished through specified returns and statements by suppliers and other reporting persons. It helps a business identify the invoice-wise credit appearing on the GST portal. It should be compared with the purchase register before the ITC amount is reported in GSTR-3B. Important eye-opener An invoice appearing in GSTR-2B is not, by itself, final proof that ITC is eligible. Blocked credit, personal expenditure, no...

  STARTUP COMPLIANCE GUIDE New Company Incorporated? Complete INC-20A Before Starting Business The incorporation certificate creates the company. It does not complete all the legal steps needed to begin operations. The 180-day requirement A company having share capital must generally file Form INC-20A within 180 days from incorporation , declaring that every subscriber has paid the value of shares agreed to be taken. What is Form INC-20A? INC-20A is the declaration for commencement of business under Section 10A of the Companies Act, 2013. It is filed by a director and professionally verified in the prescribed manner. ₹ Share capital Subscribers deposit the value of shares agreed in the incorporation documents. ▤ Declaration A director makes the prescribed commencement-of-business declaration. ✓ ...