AGM Not Ready by 30 September? The Routes Still Open This Week, and What a Missed AGM Actually Costs

Jasmila Jawale · 18h

Corporate Law

No general AGM extension has been announced for FY 2025-26. If your meeting is due on 30 September and the accounts are not ready, three routes are still open for a few days, one is riskier than it looks, and a missed AGM brings an uncapped section 99 fine and separate filing defaults.

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The Tax Audit Mistakes ICAI's Review Board Keeps Finding: Ten Form 3CD Clauses, and What Each One Actually Asks For

Harsh Vyas CA · 23h

Income Tax

The "mistakes identified by TAQRB" list doing the rounds is genuine: ICAI printed it clause by clause in its Revised 2026 Guidance Note on tax audit. What the list leaves out is the rule behind each point. Clauses 13, 14, 18, 20, 21, 23, 25 and 40, and how to report each one right.

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No TAN to Buy Property From an NRI: What Actually Changes on 1 October, and What Does Not

Deep Jasani · 4d

Income Tax

From 1 October 2026 a resident individual or HUF buying immovable property from a non-resident does not need a TAN. The reporting moves to Form 141 and a new Schedule E, the deposit clock goes from 7 days to 30, and the accountant's certificate under rule 220 does not go anywhere.

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The 120-Day Rule Is Not a 120-Day Rule: Nine Ways an NRI Gets Residential Status Wrong After Reading Section 6

Deep Jasani · 4d

Income Tax

Section 6 of the Income-tax Act, 2025 is short and looks simple. The errors that survive reading it are the expensive ones: a 120-day rule that is really a two-limb test, an undefined "day" the tribunals disagree about, and a Rs 15 lakh threshold that does not measure Indian income.

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REG-01 Will Now Fill Itself From Your Existing GSTIN — What Auto-Population Actually Carries Across, Who Holds the OTP, and the Rule 14A Bar Nobody Mentions

Najma K · Sep 19

GST

From 1 September 2026 an applicant with an active GSTIN under the same PAN can pre-fill REG-01 from it, on OTP consent of the existing registration's Primary Authorised Signatory. What is actually carried, what stays editable, and the Rule 14A(3) bar that the screen will not show you.

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No More Arrest for Tax Arrears: What the 17 September Notification Actually Did — and Why Parliament Had Already Done It in March

Vijay R S · Sep 19

Income Tax

CBDT Notification 120/2026 strips arrest and detention out of Rule 225. But the power itself went in the Finance Act 2026, six months earlier. What the notification really did, what the Tax Recovery Officer still has, and the jail exposure that did not go anywhere.

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Five Cash Mistakes the Tax Audit Will Find — and Why Each One Is Measured Against the Transaction, Not the Tax

Harsh Vyas CA · Sep 18

Income Tax

A cash penalty is not a percentage of the tax. Under Sections 271DA, 271D and 271E it is a sum equal to the whole transaction — on a receipt that may have produced no income at all. Five places the audit finds them.

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Five Ways Turnover Gets Computed Wrong for Tax Audit — and Why This Is the One Mistake You Cannot Fix in Form 3CD

Sachin Mohite · Sep 18

Income Tax

Every tax audit question starts with one number, and it is the number most likely to be wrong. Get the turnover figure wrong and you do not make a reporting error — you conclude that no audit was needed at all. Five ways it happens, from the statute.

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Five Form 3CD Entries That Come Back as a Notice — and Why the Dangerous Mismatch Is With Your Own Return

Vijay R S · Sep 18

Income Tax

Most people worry that Form 3CD will not match the department's data. The provision that actually bites is Section 143(1)(a)(iv), which lets a disallowance your own auditor reported be added back because your computation never picked it up.

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Does Your Client's Investment Company Need RBI Registration? The 50-50 Test, the New Unregistered Type I Exemption, and the 31 December Window

Jasmila Jawale · Sep 17

Company Law

The RBI updated its NBFC FAQs on 15 September 2026 with a new section on companies that use no public funds and have no customers. For the family holding company that was technically an unregistered NBFC all along, it is the most useful thing the RBI has published in years.

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UPI MDR From 15 October 2026: What a Merchant Actually Pays, the GST and TDS on It, and the Three Traps in the Fine Print

Sachin Mohite · Sep 17

GST

A 0.4% MDR starts on UPI merchant payments above Rs 2,000 on 15 October 2026. What it costs once 18% GST is added, when input tax credit is available, whether TDS applies, the monthly limit that quietly reclassifies a small merchant, and why steering the sale to cash is the expensive answer.

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Bringing an iPhone 18 Pro or iPhone 17 From Dubai or the US: What Indian Customs Charges Under the Baggage Rules 2026 (Rs 75,000 Allowance, 35% on the Rest, Worked Examples)

Sachin Mohite · Sep 17

Customs

A resident flying into India gets Rs 75,000 of articles duty-free; a new iPhone above that pays 35% basic customs duty on the excess, with no surcharge and no IGST. The "10% from April" rate is for post and courier, not airports. Worked figures for the iPhone 18 Pro from Dubai and the US, and the iPhone 17.

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Income Tax Refund Delayed for AY 2026-27? How Many Days a Refund Takes, How to Check the Status, the Eight Reasons It Is Stuck, and the Interest You Are Owed

Najma K · Sep 17

Income Tax

A refund for AY 2026-27 usually lands four to five weeks after e-verification; the legal outer limit is nine months from the end of the financial year the return was filed in. How to read the portal status, the eight reasons a refund stalls, and the 0.5% a month interest under Section 244A.

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Severance Pay Tax in India (2026): Is Your Layoff Package Taxable? Notice Pay, Ex Gratia, Retrenchment Compensation, Gratuity and Leave Encashment Under the Income-tax Act, 2025

Deep Jasani · Sep 17

Income Tax

Laid off in 2026? Your settlement is taxed line by line under the Income-tax Act, 2025: notice pay in full; severance as profits in lieu of salary unless it is retrenchment compensation to a worker (up to Rs 5 lakh deductible); gratuity up to Rs 20 lakh; leave encashment up to Rs 25 lakh.

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UPI Charges Above Rs 2,000: What the 14 September 2026 Notification Says, and the 0.4% MDR Announced the Next Day

Mrunmai Madaye · Sep 17

Personal Finance

S.O. 5067(E) of 14 September 2026 bars any charge on UPI up to Rs 2,000 and on RuPay debit cards. The next evening the government and NPCI announced a 0.4% MDR above that line, from 15 October. What the notification says, what the framework added, and why the customer pays nothing.

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