Your CA Guide📚📖

Buying Property from NRI: No TAN, TDS via Form 141 Buying Property from an NRI? No TAN Needed from 1 October 2026: Pay TDS on Your PAN By CA Manthan Gandhi | Manthan Gandhi & Co., Chartered Accountants | Updated 30 September 2026 If you are a resident Indian buying a flat, house or plot from an NRI, you know the drill: apply for a TAN just to deposit TDS on a one-time purchase. From 1 October 2026 , that hurdle goes away. The CBDT has notified the Income-tax (Fifth Amendment) Rules, 2026 through Notification No. 121/2026 (G.S.R. 830(E)) dated 22 September 2026 . It introduces a PAN-based challan-cum-statement in Form 141 (new Schedule E) for TDS on property bought from a non-resident. In this guide I explain what changed, who is covered, the step-by-step compliance, and the traps to avoid. Quick Summary Effective from: 1 October 2026 Buyer (deductor): Resident individual or HUF Seller (deductee): Non-resident, with or without PAN Asset: Land (other than ag...

CCFS-2026 MCA Amnesty Scheme | 90% ROC Penalty Reduction | Complete Compliance Guide Companies Compliance Facilitation Scheme 2026 (CCFS-2026): Complete Guide to MCA Amnesty Scheme The Ministry of Corporate Affairs (MCA) has introduced the Companies Compliance Facilitation Scheme, 2026 (CCFS-2026) through General Circular 01/2026. This is a major MCA Amnesty Scheme 2026 offering a one-time opportunity for defaulting companies to regularize long-pending ROC filings at significantly reduced additional fees. Under CCFS-2026, companies can file pending forms such as MGT-7, MGT-7A, AOC-4, ADT-1, FC-3, FC-4 and specified 1956 Act forms at just 10% of normal additional fees . 📅 Scheme Period 15 April 2026 to 15 July 2026 Post 15 July 2026, Registrars of Companies (RoCs) are expected to initiate strict enforcement actions including adjudication and prosecution. 🎯 Objective of CCFS-2026 Facilitate compliance by defaulting companies Reduc...

First Ever GSTAT Order (11 February 2026): Sterling & Wilson Wins Relief in GSTR-1 vs GSTR-3B Mismatch Case Date of Order: 11 February 2026 Case: M/s Sterling & Wilson Pvt. Ltd. v. Commissioner, Odisha (APL/1/PB/2026) Bench: GST Appellate Tribunal (GSTAT), Principal Bench, Delhi The GST Appellate Tribunal (Principal Bench, Delhi) has delivered its first landmark order , and it has immediately become one of the most important rulings in GST litigation. The decision provides major clarity on: GSTR-1 vs GSTR-3B mismatch disputes Section 74 vs Section 73 of CGST Act Scope of Section 75(2) Powers of Appellate Authorities Automated mismatch-based GST demands Quick Summary (For Fast Readers) Mere GSTR-1 vs GSTR-3B mismatch is not proof of tax evasion . If fraud/suppression is not established, Section 74 cannot survive. Under Section 75(2), notice is deemed to be under Section 73. Appellate Authority cannot itself re-qua...

Political Donation Deduction Allowed Without Assessee-Specific Evidence | ITAT Raipur Section 80GGC Political Donation Deduction under Section 80GGC Allowed in Absence of Assessee-Specific Evidence – ITAT Raipur Judgment Explained Political donations made by individuals have traditionally enjoyed tax benefits under Section 80GGC of the Income Tax Act, 1961 . However, in recent years, such donations—especially those made to Registered Unrecognized Political Parties (RUPPs) —have come under intense scrutiny by the Income Tax Department. In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Raipur Bench , in the case of ACIT, Circle-1(1), Bilaspur vs. Shri Anuj Prakash Gupta (AY 2019-20) , held that deduction under Section 80GGC cannot be denied merely on general investigation findings in the absence of assessee-specific evidence . Legal Background – Section 80GGC Section 80GGC allows individuals to claim deduction for donations made to political parties or ele...

Union Budget 2026 – Direct Tax Changes Explained | Your CA Guide Union Budget 2026 – Direct Tax Changes Explained What Taxpayers, Businesses & CFOs Should Actually Do Now Author: CA Manthan Gandhi | Your CA Guide Union Budget 2026 reinforces the Government’s long-term focus on tax certainty, simplified compliance, and reduced litigation . Instead of altering income tax slabs, the Budget introduces structural reforms impacting capital transactions, MAT, international taxation, penalties, and dispute resolution. A landmark proposal is the introduction of the New Income Tax Act, 2026 , expected to be implemented from 1 April 2026 , with the objective of simplifying tax law, reducing interpretational disputes, and improving administration. 1. Personal Taxation Reforms No Change in Income Tax Slabs Income tax slab rates remain unchanged, ensuring stability and predictability in personal tax planning. Sovereign Go...

Income Tax NUDGE Campaign 2026: Why You Received SMS/Email & What To Do | ITR Alert Guide Income Tax NUDGE Campaign 2026: Why You Received SMS/Email & What To Do The Income Tax Department has started sending SMS and email alerts under its data-driven NUDGE campaign to taxpayers across India. If you have received such a communication, it generally indicates that your Income Tax Return (ITR) has been flagged by risk analytics systems for potential mismatches or ineligible deduction claims. Why Was Your ITR Flagged Under NUDGE Campaign? The department uses advanced data analytics, AIS (Annual Information Statement), TIS, Form 26AS, and third-party reporting to identify high-risk claims. Common Reasons for Flagging: Suspicious donation claims under Section 80G or 80GGC Political donation deductions not matching reported data Incorrect PAN of donee quoted in ITR Mismatch between ITR and AIS/TIS data Excess or inflated deductions Claim...

Introduction Cryptocurrencies are digital assets that run on cryptographically secured distributed networks. They can be used as a medium of exchange and store of value. Stocks represent fractional ownership of shares in a company. While they are different asset classes, both crypto and stocks are tradeable and can be seen as investment vehicles. Crypto is a newer financial instrument that is prone to higher price volatility and risk.  Stocks are a long-established asset class that can yield both long and short-term returns.  While both instruments attract traders and investors, cryptocurrencies are often seen as an alternative to more traditional assets. There can be profitable strategies in both markets. This article breaks down the key differences between the two assets as well as their pros and cons. Crypto vs Stocks What is cryptocurrency? In simple terms, cryptocurrencies are digital currencies powered by blockchain technology. They rely on cryptographic techniques...

What is National Pension Scheme (NPS)? This is a voluntary and long-term investment plan for retirement. Like APY, the scheme is under the purview of the PFRDA. The NPS is open to employees from the public and private sectors. The scheme is self-funded pension system. NPS subscribers invest in the pension account at regular intervals. After retirement, the subscribers can take out a certain percentage of the corpus while the remaining amount will come to you as monthly pension. A portion of the NPS investment goes to equities/stocks. There is a cap on equity exposure for the National Pension System. The cap acts like a stabilizer for the risk-return equation. You can choose to invest your money in a wide range of options. The account maintenance costs under NPS are the lowest as compared to similar pension products available in India, like retirement plans offered by Insurance companies and mutual funds, according to PFRDA website. NPS subscribers have control on the choice of invest...