Taxation Updates (CA Mayur J Sondagar)

WhatsApp Community and Channel for Professional and Taxation Related Updates only To join the community or channel kindly send you name, city and qualification at wa.me/+919152062090 Currently Members in Community 5138 Members in Channel 2057 Thanks #TaxationUpdates

📢 New Information required in ITR Form of AY 2026-27 (FY 2025-26) This Year (AY 2026-27) in ITR-4 Reporting of "Balance with Banks" is Mandatory Earlier only Sundry Creditors, Inventories, Sundry Debtors and Cash-in-hand were Mandatorily required to be reported in ITR-4. #IncomeTax #TaxationUpdates @IncomeTaxIndia

Attention taxpayers! The Excel utility and Online filing for ITR-1 and ITR-4 for AY 2026-27 has been enabled and is now available for taxpayers on the e-Filing portal. @nsitharamanoffc @officeofPCM @FinMinIndia @PIB_India

GST was launched on 1st July 2017 with a ₹20L/10L threshold for goods/services in some states and w.e.f 1st April 2019, ₹40L for Goods in a few states It's 2026. That limit hasn't moved IMO, inflation should also be considered here @abhishekrajaram @TaxationUpdates @AbhasHalakhandi @DEEPKORADIA

@TaxationUpdates @IncomeTaxIndia Why can't we simply have cash ledger concept like GST? When section codes are going to be reported in TDS returns, what's the need to have bifurcation in Challan itself. Why complicate things @IncomeTaxIndia?

In TDS payment if two different tabs were made available like Pay TDS/TCS Resident Deductee & Pay TDS/TCS Non-Resident Deductee then so many users not required to select residential status of the deductee every time @IncomeTaxIndia Second thing on section code for short period give old section together with new section or on selection new section just small pop up that this section means so and so section of old income tax act. For New Payment system this enhancement will help many tax payers

INCOME TAX READY REFERENCER – 5th Edition BY CA HARSHIL SHETH @CA_HarshilSHETH Updated for AY 2026-27 / TY 2026-27 with all Important Amendments Key 35 Income Tax topics (List Attached Below) in tabular formats with Simplified Easy Language Price of PRINTED BOOK : ₹499 ONLY! Link to Order- rzp.io/rzp/itrrbook

New TDS/TCS Payment Process from 1st April 2026 E-Pay Tax Tab Shows 2 Option (Pic 1) Income-tax Act, 2025 - New Process Explained Here Income-tax Act, 1961 - Same Process No Change Pic 2 👉Select the appropriate deductee type (Corporate or Non-Corporate); separate challans are required for each type. 👉Select the correct status of the deductees (Resident or Non-Resident). Separate challans must be prepared based on the deductees’ status Pic 3 Multiple section codes can be selected for the chosen deductee type in a single challan, subject to a maximum of 20 codes. If more than 20 codes are required, an additional challan must be filed. Pic 4 Combine amount of all section code will appear and then same process flow like old payment process Benefits - Payment for multiple section codes (maximum 20) now possible using single challan Suggestions - For a short period provide old section reference in bracket so that easy to connect old section code with new section code @FinMinIndia @IncomeTaxIndia

@IncomeTaxIndia Acknowledgment for TAN application 88302951249026

@TaxationUpdates Dear @TaxationUpdates, Please share with us your application acknowledgement number to enable us to follow up on your issue with the team concerned.

So many TAN Application were pending for TAN Allotment @IncomeTaxIndia kindly help

Compliance Calendar May 2026 taxationupdates.com/Compliance_Cal…

If you handle TDS/TCS… SAVE THIS. This single tool covers: ✔ Smart search across all sections ✔ Filter by nature / type (TDS vs TCS) ✔ Old vs updated section mapping ✔ Rate + threshold + form visibility in one view ✔ Built-in calculator for quick working ✔ Dashboard insights for better understanding ✔ Clean, structured interface for instant lookup No need to open multiple tabs again. Link 🔗 taxationupdates.com/TDS-SECTION-CO…

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📢 RoDTEP Update | Notification No. 15/2026-27 DGFT has notified key amendments to RoDTEP Schedules (4R & 4RE) to align with changes in the Customs Tariff Act, effective 01.05.2026. 🔹 142 tariff lines added at 8-digit level 🔹 50 tariff lines deleted 🔹 Revised RoDTEP rates & caps notified 🔹 Certain product descriptions updated What this means: Exporters need to carefully revisit their product classification and RoDTEP eligibility. With addition and deletion of tariff lines, earlier claimed benefits may change or may no longer be available under the same HS code. It is advisable to update internal systems, validate mappings of HS codes with RoDTEP schedules, and ensure compliance before filing export documents post 01.05.2026. Link for document: dgft.gov.in/CP/ Happy reading! @dgftindia @CimGOI @DoC_GoI #RoDTEP #DGFT #Exports #Customs #TaxUpdates #TheGSTLedger

Some TAN Application were pending for processing @IncomeTaxIndia some TDS Payment were pending as application for TAN was not processed Kindly extend due date for payment by 7 days

Considering the New Portal and Sections TDS Payment due date required extention of 10 days Some TAN Allotment were pending #IncomeTax

TAX AMOUNT AS PER NEW (DEFAULT) TAX REGIME FOR F.Y.2025-26 FOR RESIDENT INDIVIDUAL (FOR NORMAL TAXABLE INCOME UP TO RS.1 CRORE) #TaxationUpdates Website taxationupdates.com

ITRR 5th Edition -Built for This Year, Next Year & Years Ahead It is not just for this season—it’s a long-term professional tool. For AY 2026–27 compliances : Fast revision, accurate guidance. For ITR FILING OF AY 2026-27 & Audit season For TY 2026–27: Cross-referencer for transition to the Income-tax Act, 2025. Section , forms , Due Dates, TDS TCS rates and limits. old Act vs New Act - Dedicated chapters And mainly - 1961 Act relevance continues in litigation-useful for upcoming years. Printed book gets out of stock quickly Link to order ​ rzp.io/rzp/itrrbook​ AVAIL BENEFIT OF LAUNCH PRICE OF RS 499 ORDER NOW