India Taxation

11/02/2026

📊 TDS RATE CHART | FY 2025–26 (AY 2026–27)

Section | Nature of Payment | Threshold (₹) | TDS Rate (%) – Indiv/HUF | Others

📌 A) Frequently Applicable Sections

Section 192 – Salaries
Threshold: Not Applicable
TDS Rate: As per applicable Slab Rates

Section 194C – Contractor (Single Transaction)
Threshold: ₹30,000
TDS Rate: 1% (Ind/HUF), 2% (Others)

Section 194C – Contractor (Aggregate during F.Y.)
Threshold: ₹1,00,000
TDS Rate: 1% (Ind/HUF), 2% (Others)

Section 194H – Commission / Brokerage
Threshold: ₹20,000
TDS Rate: 2%

Section 194J(a) – Technical Services / Royalty / Call Centre / Film Distribution
Threshold: ₹50,000
TDS Rate: 2%

Section 194J(b) – Professional Services (Other than above)
Threshold: ₹50,000
TDS Rate: 10%

Section 194I(a) – Rent (Plant & Machinery)
Threshold: ₹50,000 per month
TDS Rate: 2%

Section 194I(b) – Rent (Land / Building / Furniture)
Threshold: ₹50,000 per month
TDS Rate: 10%

Section 194IA – Purchase of Immovable Property (Other than Agricultural Land) 🏢
Threshold: ₹50 Lakh
TDS Rate: 1%

Section 194IB – Rent by Individual / HUF (Not liable under 194I)
Threshold: ₹50,000 per month
TDS Rate: 2%

Section 194M – Payment by Individual / HUF for Contract / Professional Fees
Threshold: ₹50 Lakh
TDS Rate: 2%

Section 194N – Cash Withdrawal 💰
Threshold: ₹1 Crore (₹3 Crore for Co-operative Society)
TDS Rate: 2%

If ITR not filed for last 3 years:
Threshold: ₹20 Lakh
TDS Rate: 2% (₹20L–₹1Cr), 5% (Above ₹1Cr)

Section 194T – Payment by Partnership Firm to Partners
Threshold: ₹20,000
TDS Rate: 10%

Section 194P – Specified Senior Citizen (75+ years) 👤
TDS Rate: As per Slab (ITR filing not required subject to conditions)

Section 194Q – Purchase of Goods
Threshold: Amount exceeding ₹50 Lakh
TDS Rate: 0.1%

Section 193 – Interest on Securities
Threshold: ₹10,000
TDS Rate: 10%

Section 194 – Dividend 📈
Threshold: ₹10,000
TDS Rate: 10%

Section 194A – Interest (Banks)
Threshold: ₹50,000 (₹1 Lakh – Senior Citizen)
TDS Rate: 10%

Section 194A – Interest (Others)
Threshold: ₹10,000
TDS Rate: 10%

📌 Other Applicable Sections

Section 194B – Lottery Winnings 🎯
Threshold: ₹10,000
TDS Rate: 30%

Section 194BA – Online Game Winnings 🎮
Threshold: Nil
TDS Rate: 30%

Section 192A – Premature EPF Withdrawal
Threshold: ₹50,000
TDS Rate: 10%

Section 194BB – Horse Race Winnings 🏇
Threshold: ₹10,000
TDS Rate: 30%

Section 194D – Insurance Commission
Threshold: ₹20,000
TDS Rate: 2% (Ind/HUF), 10% (Others)

Section 194DA – Life Insurance Policy (Taxable Portion)
Threshold: ₹1 Lakh
TDS Rate: 2%

Section 194EE – National Savings Scheme (NSS)
Threshold: ₹2,500
TDS Rate: 10%

Section 194G – Lottery Commission
Threshold: ₹20,000
TDS Rate: 2%

Section 194IC – Joint Development Agreement
TDS Rate: 10%

Section 194K – Dividend from Mutual Funds
Threshold: ₹10,000
TDS Rate: 10%

Section 194LA – Compensation on Acquisition of Immovable Property
Threshold: ₹5 Lakh
TDS Rate: 10%

Section 194LB / 194LD – Certain Interest Payments to Non-Residents
TDS Rate: 5%

Section 194LBA / 194LBB / 194LBC – Trust / Investment Fund Income
TDS Rate: As per applicable category (Resident / Non-resident)

Section 194O – E-commerce Participants 🛒
Threshold: ₹5 Lakh
TDS Rate: 0.1%

Section 194R – Benefits / Perquisites (Business / Profession)
Threshold: ₹20,000
TDS Rate: 10%

Section 194S / 194SP – Virtual Digital Assets (Crypto, etc.) 💻
Threshold: ₹10,000 / ₹50,000 (as applicable)
TDS Rate: 1%

⚠ Important Note

If PAN is not furnished, TDS shall be deducted @ 20% or applicable rate, whichever is higher.

🧾 TDS Compliance – Key Points

✔ Deduct TDS at the earlier of payment or credit.
✔ Deposit TDS on or before 7th of next month (March: 30th April).
✔ Interest @1% per month for non-deduction.
✔ Interest @1.5% per month for delayed payment.
✔ Part of month considered as full month.

📑 TDS Return Filing

✔ Quarterly TDS Statements are mandatory.
✔ Form 26QB for property transactions – within 30 days from end of month of deduction.
✔ Due Date: End of next month following quarter (Jan–March: 31st May).
✔ Penalty u/s 271H – ₹200 per day (subject to limits).

10/02/2026

🚨 IMPORTANT UPDATE FOR SALARIED EMPLOYEES – PERQUISITE RULES BEING UPDATED 🚨

The Income Tax Department has released draft perquisite valuation rules under the Income Tax Act, 2025, proposed to apply from 1 April 2026.

These rules revise perk (perquisite) values that had remained unchanged for decades, and are now being aligned with today’s cost realities.

Here’s a simple breakdown 👇

✅ THE POSITIVE CHANGES (Higher Tax-Free Limits)

🔹 Free / concessional meals at office
• Tax-free value per meal proposed to increase
• From ₹50 → ₹200 per meal
➡️ Better tax treatment for canteen facilities & meal vouchers 🍽️

🔹 Gifts from employer (annual aggregate)
• Tax-free limit proposed to increase
• From ₹5,000 → ₹15,000 per year 🎁
➡️ More flexibility for festive & performance-linked gifts

⚠️ THE IMPACT AREA (Higher Taxable Perquisites)

🔹 Company car provided by employer (with running & maintenance)
Proposed standard taxable values:

• Small car (≤ 1.6L engine)
→ From ~₹2,700/month to ₹8,000/month (incl. driver)

• Larger car (> 1.6L engine)
→ From ~₹3,300/month to ₹10,000/month

➡️ Employees enjoying car + driver benefits may see higher taxable salary from FY 2026-27 onward.

📌 WHY THIS CHANGE?

These limits were fixed in the 1990s / early 2000s and no longer reflected: • Current fuel costs
• Driver salaries
• Actual maintenance expenses

The revision aims to modernise valuation — though it does increase tax cost for some perks.

📝 IMPORTANT

✔️ These are draft rules
✔️ Public comments invited till 22 February 2026
✔️ Final rules may still see adjustments

💬 Your view?

10/02/2026

🚨 IMPORTANT FOR GST RULE 14A (SIMPLIFIED REGISTRATION) TAXPAYERS

Many small businesses opted for Simplified GST Registration under Rule 14A (w.e.f. Nov 2025) —
✅ Aadhaar-based
✅ Faster approval
✅ Minimal verification
✅ Ideal for small B2B suppliers

⚠️ BUT WATCH THIS LIMIT CAREFULLY

If your monthly OUTPUT TAX LIABILITY
(CGST + SGST/UTGST + IGST + Cess)
on B2B supplies

➡️ EXCEEDS ₹2.5 LAKH in any month

❌ You cannot continue under Rule 14A
🔄 You must apply for withdrawal & convert to normal registration
📌 Conversion is NOT automatic

🔄 HOW TO CONVERT

✔️ Apply online in FORM GST REG-32
✔️ As per Rule 14A(5)–(12)

✅ CONDITIONS (MANDATORY)

1️⃣ All GST returns filed till application date
2️⃣ Minimum filing history:
• Before 1 Apr 2026 → 3 monthly returns
• On/after 1 Apr 2026 → 1 tax period
3️⃣ No cancellation proceedings u/s Section 29 or pending amendments

📄 AFTER APPROVAL

✔️ Officer issues FORM GST REG-33
✔️ Same GSTIN continues (no new GSTIN)

🚫 IF YOU DON’T WITHDRAW IN TIME

⚠️ GSTR-1 may be restricted
⚠️ Buyers’ ITC may get blocked
⚠️ Credibility & compliance risk

📌 PRO TIP:
Rule 14A is a fast-track entry, not a permanent status.
If your B2B business is growing — plan the exit early.

💬 Are you under Rule 14A? Has your tax crossed ₹2.5 lakh?
Comment or DM us — happy to guide.

04/01/2026

🚨GST Alert

CBIC Has issued impostant advisory for Specified Premises

1. What’s the update?: -
Specified Premises – Hotel Accommodation (FY 2026-27)
GSTN has enabled online filing of Opt-In Declarations for declaring hotel premises as “Specified Premises”
📅 Advisory dated 4 Jan 2026
📜 As per Notification 05/2025 – CT (Rate)

2. Who can file this declaration?: -
✅ Regular GST taxpayers (Active / Suspended) supplying hotel accommodation
✅ Applicants for new GST registration
❌ Not allowed for:
• Composition dealers
• TDS/TCS taxpayers
• SEZ units/developers
• Casual taxpayers
• Cancelled GSTINs

3. Types of declarations available: -
📄 Annexure VII – For existing registered taxpayers (for next FY)
📄 Annexure VIII – For new registration applicants
🚫 Opt-Out (Annexure IX) will be enabled later

4. Filing window – VERY IMPORTANT ⏰: -
👉 Existing taxpayers (Annexure VII)
🗓️ Window: 1 Jan – 31 Mar of preceding FY
📌 For FY 2026-27 → 01.01.2026 to 31.03.2026

5. New GST applicants (Annexure VIII): -
⏳ File within 15 days from ARN generation
✔️ Even if GSTIN not yet allotted
❌ If application rejected → declaration NOT allowed
After 15 days ➝ wait for Jan–Mar window

6. How to file on GST Portal?: -
🔐 Login →
Services → Registration →
Declaration for Specified Premises
✔️ Select premises
✔️ Submit via EVC
📌 ARN generated on success

7. Key compliance points 🚨: -
• Max 10 premises per declaration
• Multiple declarations allowed
• Separate reference number for each premise
• Suspended GSTINs can file
• Cancelled GSTINs cannot

8. One-time opt-in = future continuity: -
Once opted, the status continues for future years
👉 Unless you file Opt-Out (Annexure IX) within prescribed time

9. Special note for FY 2025-26 filers: -
⚠️ Those who filed manually last year MUST re-file online
📅 File Annexure VII again for FY 2026-27
🗓️ Between 1 Jan – 31 Mar 2026

10. Key Point: -
🏨 Hotel accommodation providers:
✔️ Review your premises
✔️ File Annexure VII on time
❌ Missing the window may impact GST rate applicability

02/01/2026

🚨Compliance Calendar – January 2026

1⃣ 07th January - Income Tax TDS & TCS
2⃣10th January – GST TDS & TCS
3⃣11th January - GSTR-1 (Monthly)
4⃣13th January - GSTR-1 (IFF), GSTR-5, GSTR-6
5⃣14th January - Form 16B/16C/16D
6⃣15th January - PF & ECR, ESI, TCS (Form 27EQ)
7⃣18th January - CMP-08
8⃣20th January - GSTR-5A, GSTR-3B (Monthly)
9⃣22th January - GSTR-3B (QRMP)
🔟24th January - GSTR-3B (QRMP)
1⃣1⃣28th January - GSTR 11
1⃣2⃣30th January - Challan-cum-Statement u/s 194-IA/IB/IM/S
1⃣3⃣31st January - Form 24Q, 26Q, 27Q, 26QAA
1⃣4⃣31st January - MGT-7/MGT-7A & AOC-4

01/01/2026

🚨The Companies (Appointment and Qualification of Directors) Amendment Rules, 2025, effective 31 March 2026, significantly alter KYC durations.

Under the revised Rule 12A, directors holding a DIN as of 31 March must now file KYC intimation via Form DIR-3 KYC Web by 30 June every 3rd consecutive financial year. This 3 year requirement replaces the existing annual cycle.

However, any changes to a director's mobile number, email, or residential address must be reported within 30 days of the change.

Furthermore, the unified web form replaces all previous separate filing methods.

31/12/2025

30/12/2025

File your GSTR-9 before due date 31st December, 2025.

30/12/2025

Big Relief for Companies!

Attention all Company Secretaries, CAs, Directors, and compliance teams!

The Ministry of Corporate Affairs has just issued General Circular No. 08/2025 dated 30th December 2025, extending the deadline for filing Financial Statements (AOC-4) and Annual Returns (MGT-7/MGT-7A) for FY 2024-25. New Deadline: 31st January 2026
No additional fees if filed by this date!

This comes as a much-needed relaxation amid the ongoing technical challenges with the MCA-21 V3 portal.

Thank you, MCA, for listening to stakeholder concerns and providing this timely extension!

Always refer to the official MCA website for the circular and updates: www.mca.gov.in Plan your filings accordingly and avoid last-minute rush.

Home page of Ministry of Corporate Affairs

25/12/2025

In 2025 accounting and auditing saw big changes.

1. The NFRA placed revised auditing standards before the government to improve audit planning, risk assessment and documentation, though they are not yet in force.

2. The MCA notified amendments to several Indian Accounting Standards and ICAI issued an exposure draft of Ind AS 118 to replace Ind AS 1.

3. The IFRS Foundation released the third edition of IFRS for SMEs.

4. ICAI approved an updated Code of Ethics effective April 1 2026.

5. Firms expanded use of AI and analytics in audits.

6. NFRA continued to highlight quality issues, and a PMO panel explored strengthening domestic audit firms.

23/12/2025

*Staggered filing of GST appeals on GSTAT Portal withdrawn!*

*Date of Order:* 16-12-2025

🧾 GSTAT has revoked its earlier order dated 24-09-2025 which mandated staggered filing of appeals due to portal limitations.

*Key Highlights:*
• Staggered filing protocol dispensed with
• Free & unhindered filing of appeals now allowed
• Revocation effective from 18-12-2025
• Appeals already filed remain valid

Appeals under Section 112 of CGST Act, 2017 can now be filed without staggered restrictions, ensuring smoother access to justice.

Order issued by President, GST Appellate Tribunal.

22/12/2025

CFOs in India are preparing for a compliance-intensive 2026 after a heavy regulatory year in 2025.

Key new requirements include full implementation of the Digital Personal Data Protection (DPDP) Act, the three consolidated labour codes, expanded ESG assurance under SEBI’s BRSR Core framework, and the New Income Tax Bill from April 1, 2026.

Companies are planning bigger budgets for automation and external advisory support to handle rising compliance costs. Labour law changes require process re-engineering, DPDP affects data and AI strategies, and mandatory ESG assurance will need stronger audit trails and system upgrades. Finance teams are focusing on readiness and clarity as rules evolve.