CS Gurminder Dhami

Are you a Director in a Company? 4 Basic things to check before signing ✍️any document 📄. A Thread 🧵 #cstwitter

If you're running a company, a lot will change in the days to come. The Corporate Laws (Amendment) Bill, 2026 isn’t just another update; it’s a shift that professionals and directors/stakeholders of the company cannot afford to ignore. Had the opportunity to take a session on this at the Raipur Chapter of ICSI with an insightful group of fellow professionals. We discussed not just what has changed, but more importantly, what it means in practice and how professionals can proactively adapt to the evolving regulatory landscape. Grateful to the Raipur Chapter of ICSI for the invitation and seamless organisation. Always a privilege to contribute to knowledge-sharing within the profession. #CorporateLaws #ICSI #ICAI #CompanySecretary

You still got some time for ADVANCE TAX payment now. Breaking it down here as a refresher for many. Some people will already be aware of it and if you are, you can skip this post. Else, you should chalk out 15 minutes this weekend and pay this, if you are liable to pay. WHO NEEDS TO PAY? If your net tax liability after TDS/TCS crosses ₹10,000. Total Tax Liability − TDS − TCS = Net Liability Sharing an example for easy understanding. If your total tax liability is Rs. 40,000 but Rs. 35,000 is already deducted as TDS, your net liability is only ₹5,000 after taking TDS into account. That's below the threshold of Rs. 10000 now. So, Rs. 10000 has to be seen after taking TDS/TCS into account & not the gross amount of tax. While a major portion of tax on your salary income (if you are salaried) is already covered through TDS, please ensure you pay the balance tax on any income from: • Rent • Business or Profession • Capital Gains • Interest / Dividends Further, if you fall under 31.2% tax bracket but happen to fall into 35.88% tax bracket due to capital gains, freelancing, rental income etc., you also need to pay the additional tax on your salary income which your employer might not have deducted/be aware of. Better, you can ask your employer to deduct more from the salary of march'2026. DUE DATES TO PAY 📅 15th June → 15% of tax liability 📅 15th September → 45% of tax liability 📅 15th December → 75% of tax liability Final installment of Advance Tax - Due by 📅 15th March → 100% of tax liability EXCEPTIONS TO PAY QUARTER BY QUARTER OR ENTIRELY 1. Senior citizens above 60 with no business income need not worry about advance tax 2. If you have presumptive business income, pay 100% in one shot by 15th March 3. If your advance tax liability after TDS/TCS is less than 10k. HOW TO PAY Log in to the e-filing portal Go to e-Pay Tax → Income Tax Select AY 2026-27 Payment type: Advance Tax (100) Enter the amount in "tax" column and pay That's it. WHAT HAPPENS IF YOU DON'T PAY? Section 234B and 234C kick in - 1% interest per month on the unpaid amount. The annualised interest cost is more than 1% on many occasions. #incometax

Respectfully, not having UDIN in the past year's financials highlights is a different issue altogether and needs to be read carefully. A) KEY-POINTS: A1) CCFS scheme reduces late filing fees by 90% for all pending annual filings. A2) ICAI UDIN became mandatory for statutory audits starting from FY 2018-19. B) ANALYSIS: B1) For FYs prior to 2018-19 - UDIN not required; so no issues here. B2) For 2018-19 onwards 🔹️Sections 96 & 136 of the Companies Act, 2013 require a company to conduct its AGM for a given FY by 30th September of the following year, with financials dispatched to shareholders before the AGM at least 21 days prior to the AGM date (days can be reduced if 95% shareholders give consent). 🔹️So if a company genuinely got its accounts for, say, FY 2021-22 audited and held its AGM by 30th Sept. 2022 — UDIN would have been generated within the 60-day window from financials signing at that time. In that case, CCFS is simply being used for delayed ROC filing, which is entirely legitimate. 🔹️However, if no UDIN exists, it signals that the audit itself was not completed within the statutory period — meaning the company is now seeking to backdate the signing of financials to avoid AGM default penalties under Section 96. C) CORRECT COURSE OF ACTION C1) If financials for past FYs (2018-19 onwards) are being prepared today, the auditor should sign with the current date and generate the UDIN accordingly. The company should then hold its AGM now in current times. Yes, this exposes the company to potential notice from ROC levying fines for holding AGM on a delayed basis — max. up to ₹1 lakh (flat) + max. upto ₹5,000 per day on the company and each defaulting director — but the company can get it reduced through a compounding application before the RD/NCLT. C2) As professionals, auditors must not become party to backdating the signing of financials. CCFS offers genuine amnesty for annual filing delays — it should not become a cover for misrepresenting when the audit itself was completed and when AGM was held.

After the introduction of the Company Compliance Fresh Start Scheme (CCFS) by the MCA, many companies are planning to file long-pending financial statements. However, a practical issue has arisen with the UDIN) system of our ICAI. Since UDIN can be generated only within 60 days, many old financial statements cannot now be linked with UDIN. Considering the intent of the scheme, requesting ICAI to consider introducing a one-time UDIN relaxation/exemption window for past documents being filed under CCFS so that companies and professionals can genuinely benefit from the scheme. 🙏🏻 Otherwise, professionals may be forced to adopt workaround approaches like freshly signing financial statements only for UDIN generation, which may not always be the most technically appropriate solution. A small regulatory relaxation here could go a long way in ensuring that the objective of compliance regularisation under CCFS is achieved smoothly. Would be interesting to hear fellow professionals’ views as well. 🙏🏻

@aryanXmahajan AGENT

R.I.P. presentation teams. I just automated 100% of my presentation workflow. This AI Document Agent just disrupted the entire document creation process. And enterprise C-suites are already using it. KPMG, BDO, and Cisco replaced their entire deck workflow with one prompt. → No more designers → No more formatting issues → No more revision recycle Just brief in. Client-ready deck out. It prompts full presentations in minutes — inside PowerPoint. Brand rules, pricing data, legal disclaimers all auto-populated. Every output on-brand, compliant, and ready to send. BDO saved $1.65M in year one from document automation alone. This isn't a productivity hack. It's infrastructure. The same way email replaced fax — AI Document Agents are replacing manual deck building. C-suites who figured this out aren't going back. Yours is still formatting at midnight. I put together the exact blueprint these enterprise teams used — prompting framework, governance setup, and full implementation guide. Want it? Like + comment "AGENT" and I'll DM it directly. (must be following)

@chhddavid @claudeai SHIPPER

Big news, @claudeai just got a huge upgrade today and I'm very happy to be introducing it in shipper. From today on, Claude Code Opus 4.6 can build and run a business for you. We just launched Shipper 2.0, a tool that lets Claude: → Build web/mobile apps and Chrome extensions → Code, design, monetize, launch → Do email marketing for you → Continue to build out new features → Self-maintain in the long run Claude's most powerful models can now do all of that from a <10 word prompt, for as low as $0.12/app... And it takes minutes! Simply go to Shipper, then ask Claude to "build a talent hiring platform" or "build a complete saas that charges $29/mo"! To celebrate the launch, we're giving away free credits randomly to people who repost and comment "SHIPPER' :)

@aryanXmahajan LINKEDIN

Claude Cowork automated 100% of my LinkedIn content creation. Ideation → Draft → Review. All on autopilot. 46K followers + $876K revenue in 6 months. → No more staring at blank screens for 2 hours before posting → No more chasing followers while wondering why pipeline stays empty → No more ""engagement experts"" selling vanity metrics with zero revenue attached → No more disconnected tools killing your content velocity Just one automated system → followers and revenue generated simultaneously. Here's how it works: → Post Idea Generator (eliminates creative blocks completely) → Viral Momentum Engine (makes LinkedIn's algorithm work for you, not against you) → Follower Growth Stack (compound tactics most accounts never discover) → Sales & Fulfillment System (comment → qualified prospect → closed revenue) → Complete Tool Infrastructure (exact stack running my operation daily) Built with the same infrastructure engineering principles deployed for Fortune 500 consulting firms. Runs 24/7 without manual intervention. Zero vanity metric optimization. Want the complete LinkedIn Revenue Infrastructure? Like + comment ""LINKEDIN"" + repost, and I'll DM it to you. (must be following)"

BACKGROUND: Delayed Filing under Companies Act has dual consequences:- 1) Late Fee 2) Punishment in form of Fine / Penalty So, AOC-4, MGT-7, ADT-1 (or their parallel forms in the old 1956 Act) when filed late then in addition to late fee, penalty/fine is also attracted; Its a different story that its payable only when Penalty/Fine Notice is issued by ROC or you voluntary go for Adjudication/Compounding. MEANING OF POINT (V) in Circular: If a Company does filing of above forms under this scheme they will get immunity, and no penalty/fine proceedings can be initiated for these cases.

@sambhavdaga @Kothari2020 Unable to understand point no (v) of circular. Can u help

🚨 If your company has pending ROC filings… please read this carefully. For years, many companies didn't file their Annual Return (MGT-7) or Financials (AOC-4) on time. And after 2018, the late fee became very stringent i.e. ₹100 per day. I’ve seen companies where the additional fees became bigger than their actual turnover. Now, finally, MCA has given some relief by bringing the CCFS scheme - Companies Compliance Facilitation Scheme (CCFS 2026) 🗓 The company needs to do these filings between 15 April 2026 to 15 July 2026 THIS IS A ONE-TIME WINDOW, AND THIS DOES NOT COME OFTEN. You now have 3 choices: 1️⃣ COMPLETE ALL PENDING FILINGS Pay normal fees + only 10% of additional fees Yes, effectively a 90% relief on additional fees. If you were postponing filings because of heavy penalties, this is your moment. Any filing where the late fee ran into a lakh can now be settled in 10k. 2️⃣ MAKE THE COMPANY DORMANT If business isn’t active but you don’t want to close it — File MSC-1 Pay only 50% of normal fees Lower compliance burden going ahead. 3️⃣ CLOSE THE COMPANY PROPERLY File STK-2 Pay only 25% of filing fees Clean exit. No baggage. IMPORTANT POINT ON PENAL CONSEQUENCE If you file before notice, or within 30 days of notice 👉 No penalty under Sections 92 & 137. But if a penalty order is already passed, only the relief of the fee is possible. If you don't take any action till 15 July 2026 👉 ROC will take strict action against non-compliant companies. This doesn't come very often. The last time it came was in 2020 during COVID. #MCA

Yes, subject to the condition that non-filing till the year no business was there would be acceptable. Example: XYZ Pvt Ltd has not done filings since 2021-22; Co. did business in 2021-22, and after that no business in 2022-23 to 2024-25. Complete 21-22's filing and then go for STK-2.

@sambhavdaga STK -2 filing means that without annual filings close the company?

Want to pool all your financial investments in a corporate entity? It just got a lot easier to do so with the latest proposed RBI relaxation, exempting investment companies from the requirement of obtaining an NBFC license. 🚨 RBI Governor, Mr Sanjay Malhotra, in his 06/02/2026 #rbimonetarypolicy meeting, announced - NBFCs with: ❌️ No Public Funds ❌️ No Customer Interface 💰💵 Assets <= ₹ 1000 Crore are no longer required to take an NBFC license. PROBLEM POINT Mr. X invests in stocks & other financial assets. From tax optimisation & other benefits POV, he wants to do this in corporate setup, via a private company. But, as per RBI, this ends up landing in NBFC regulatory territory due to "RBI's 50:50 test" RBI's 50:50 test: Test 1 - Financial Assets > Total Assets Test 2 - Financial Income > Total Income If both tests are met, then the company needs to obtain an NBFC license and follow compliances of an NBFC. To mitigate these issues, in 2016, RBI brought the concept of Type 1 NBFC. Type 1 NBFC is basically a type of NBFC which cannot take Public Funds and has no Customer Interface This was brought to simplify the registration process and reduced compliances but it still required NBFC license. But, Even Type 1 NBFC was not a full proof solution. So, WHAT CHANGED NOW? NBFC license is not required at all for pooling self/family/friends investments in a Co., if - A) Total Asset size <= 1000 crore B) No public fund access - Promoters can fund, but bank/external debt is not allowed C) No customer interface - i.e. no customer OTHER ADVANTAGES 🔹️Reduced / No RBI compliances; 🔹️No requirement of minimum 2 crore net-worth (could be reduced or entirely removed) 🔹️Better management of investments a) Single portfolio for entire family; Does away with tedious task of monitoring overlap across multiple family portfolios. b) Can hire professional management in the entity. 🔹️Easier internal re-structuring: a) Upon restructuring the investment company's shareholding, all pooled investment benefits can be re-allocated amongst family members at once. b) Similarly, succession planning becomes easier via an investment entity. PS: This is a proposal; the formal notification is yet to come, which may have a few additional conditions to be complied with for availing the exemption from NBFC regulations. Will write more once the full notification comes on how you can structure it for your benefit.

@Zephyr_hg News

I never run out of content to post anymore. Built an automation that monitors 50+ news sources, scores articles for relevance, and writes social posts automatically. It finds trending topics in my niche before they explode everywhere else. Saves me 15-20 hours monthly and keeps me ahead of every trend. Comment "NEWS" and I'll DM it to you (must be following)

@heynavtoor AI

Everyone is hyped about Claude… but barely anyone knows how to actually use it to replace real work. I collected 700+ mega prompts that turn Claude into a full-blown productivity engine. Comment "AI" and I’ll DM you everything.

@MCA21India Enable visibility of annual filing status for the last 3 years. This is of a company who reached out to me & @gsd5192 for due diligence and when we pointed out that no annual filing was done in the last 3 years, their previous consultant filed only for financial year ending March 2025 but did not file for FY ending March 2023 and March 2024 because ofcourse, this attracts late fee in lakhs now. So, on the face, it looks like all filings are completed but in reality, filings of 2023 and 2024 are pending which attracts late fee on a daily basis of which many promoter/directors are completely unaware of and may get a shock once ROC sends a notice. If you are running a business in a company/LLP structure, always ensure that these filings are done timely and in all completeness else the daily accrual of late fees can eat up a lot of your money.

A lot of people think that if they are opting for presumptive scheme of taxation and show professional income under 44AD with 8% profit, they will not be subjected to scrutiny but this is not always true. Handling one such case relating to section 44AD vs 44ADA & I have thoroughly enjoyed the research around it. #incometax

Given how the portal is working, this extension was much needed. Although, I do not understand why it always has to come at the last minute. #CSTwitter #mcaextension

If extension is to be granted, please do it before the holiday seasons starts else don't give extension at all. It's so frustrating to ask team to work day and night because site is not working in normal business hours. #CSTwitter

Recently, Income Tax Department issued notices/sent emails to a lot of people regarding the disclosure of foreign assets in their income tax returns. I am sharing this checklist related to schedule FA that we share with our clients while filing their ITRs. If you feel you have not adequately reported the details, you can take a cue from this checklist, report whatever is not reported and revise by 31st December 2025 for AY 2025-2026. You can also file an updated return for your old ITRs if you think you have missed reporting it. #IncomeTax #ScheduleFA #ForeignAssets

🚨 Big reform in insurance! GST on insurance is slashed from 18% → 0% from 22nd September, 2025 Here’s what it really means for you 👇 Till now, if you paid ₹1,00,000 premium, you actually paid ₹1,18,000 (extra 18% GST). From now, you’ll just pay ₹1,00,000 for the same cover. But it comes as a cost to these Insurance companies. How? Insurance companies used to claim input tax credit on their office expenses, IT systems, advertising, etc. With 0% GST, they lose this benefit. That’s extra cost for them. They cannot claim any input tax credit. So, will insurers hike premiums? ➡️ They might try to recover some costs. ➡️ But they can’t arbitrarily increase rates – because of anti-profiteering rules & IRDAI oversight. My view Short term = Great for policyholders who wish to buy insurance soon (direct GST saving) before any hikes come later. Medium term = Insurers may load a small portion into base premium, but increases will be gradual & monitored. Net-net: Positive move for insurance penetration in India. Insurance is now more affordable ✅ If you don’t have it, don’t find another excuse to delay it. #lifeinsurance #healthinsurance

@MCA21India Great! Now, viewing Annual Filing Challans is also a post login service. Thanks for making life of professionals easier. Just have to ask multiple OTPs to do things which otherwise took seconds or minutes.

🚨 Attention Stakeholders! 🚨 To obtain the SRN of Annual Filing forms approved on the V2 portal, you may follow either of the below options: ✅ Visit mca.gov.in Navigate to: MCA Services → FO Services → Check Annual Filing Status, or ✅ Login with your Company User ID → My Application → Approved Section 📌 Stay informed. Stay compliant #MCA #MCAUpdate #V3Portal