Important Information & Documents for CA-CS & Tax Professions
What you think, ITR ki dates extend hogi????
Bhai ye dye date extend kyu bai ho rai he😅🥹🥲🤣
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📌 Filing the Return of a Deceased Person
To file the ITR on behalf of a deceased person, you need to:
1️⃣ Enter Name, PAN & Date of Death of the deceased.
2️⃣ Upload a ZIP file containing scanned copies of:
📄 (a) PAN card of the deceased
🪪 (b) Death certificate
📜 (c) Legal heir proof (as per norms)
📝 (d) Letter of Indemnity (optional)
✅ The Income Tax Department will verify your request.
👉 Once approved, the legal heir can carry out all e-filing related services on behalf of the deceased.
To file the ITR on behalf of a deceased person, you need to:
1️⃣ Enter Name, PAN & Date of Death of the deceased.
2️⃣ Upload a ZIP file containing scanned copies of:
📄 (a) PAN card of the deceased
🪪 (b) Death certificate
📜 (c) Legal heir proof (as per norms)
📝 (d) Letter of Indemnity (optional)
✅ The Income Tax Department will verify your request.
👉 Once approved, the legal heir can carry out all e-filing related services on behalf of the deceased.
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ICAI has released Income Tax Act, 2025 (Including Tabular Mapping of Sections vis-a-vis Income-tax Act, 1961)
Download 👇👇👇
https://resource.cdn.icai.org/88381dtc-aps2500.pdf
Download 👇👇👇
https://resource.cdn.icai.org/88381dtc-aps2500.pdf
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🚨 MUST READ: Complete Annual GST Filing Guide (GSTR-9 & GSTR-9C) 🧾
Every GST-registered taxpayer needs to file their Annual Return. Don't miss the due date! Here is your essential breakdown of what, when, and how 👇
1️⃣ GSTR-9: The Annual Return
* What is it? It's the consolidated Annual Return under GST.
* What does it do? Summarizes all details from your monthly/quarterly GSTR-1 and GSTR-3B.
* Key Details: Outward/Inward supplies, ITC claimed, tax paid, refunds, and demands.
* Who must file? Mandatory if aggregate turnover > ₹2 Crore. (Optional for others, but highly recommended for reconciliation!)
2️⃣ GSTR-9C: The Reconciliation Statement
* What is it? A statement that reconciles your data in GSTR-9 with your Audited Financial Statements (Books of Accounts).
* Who needs to file? Taxpayers with an aggregate turnover > ₹5 Crore in the financial year.
3️⃣ ⚠️ Who is Exempt from GSTR-9 Filing?
* Composition taxpayers (GSTR-9A is discontinued)
* Casual taxable persons
* Input Service Distributors (ISD)
* Non-resident taxable persons
* TDS/TCS deductors
4️⃣ BIG NEWS: CA Certification is NO MORE!
* Simplified Filing: From FY 2020–21 onwards, GSTR-9C is now a self-certified form.
* The requirement for a CA/CMA to certify GSTR-9C has been removed. ✅
5️⃣ 🗓️ Critical Due Date (Set a Reminder!)
* Both GSTR-9 & GSTR-9C are due by 31st December following the end of the financial year.
* Example: For FY 2024–25 → Due date is 31st December 2025 (unless extended).
6️⃣ Checklist Before You File (Avoid Scrutiny!)
Before submitting, ensure these are perfectly matched:
* GSTR-3B vs Books vs GSTR-1 (The golden triangle!)
* Verify all ITC reversals and ineligible ITC.
* Cross-check RCM (Reverse Charge Mechanism) entries and payments.
* Accurately report any refunds claimed and demands raised.
💡 Key Takeaways
* GSTR-9 = Annual Summary (Mandatory > ₹2 Cr)
* GSTR-9C = Reconciliation with Books (Mandatory > ₹5 Cr)
* Due Date = 31st December
* Action: File ON TIME to avoid hefty penalties! 💰
Every GST-registered taxpayer needs to file their Annual Return. Don't miss the due date! Here is your essential breakdown of what, when, and how 👇
1️⃣ GSTR-9: The Annual Return
* What is it? It's the consolidated Annual Return under GST.
* What does it do? Summarizes all details from your monthly/quarterly GSTR-1 and GSTR-3B.
* Key Details: Outward/Inward supplies, ITC claimed, tax paid, refunds, and demands.
* Who must file? Mandatory if aggregate turnover > ₹2 Crore. (Optional for others, but highly recommended for reconciliation!)
2️⃣ GSTR-9C: The Reconciliation Statement
* What is it? A statement that reconciles your data in GSTR-9 with your Audited Financial Statements (Books of Accounts).
* Who needs to file? Taxpayers with an aggregate turnover > ₹5 Crore in the financial year.
3️⃣ ⚠️ Who is Exempt from GSTR-9 Filing?
* Composition taxpayers (GSTR-9A is discontinued)
* Casual taxable persons
* Input Service Distributors (ISD)
* Non-resident taxable persons
* TDS/TCS deductors
4️⃣ BIG NEWS: CA Certification is NO MORE!
* Simplified Filing: From FY 2020–21 onwards, GSTR-9C is now a self-certified form.
* The requirement for a CA/CMA to certify GSTR-9C has been removed. ✅
5️⃣ 🗓️ Critical Due Date (Set a Reminder!)
* Both GSTR-9 & GSTR-9C are due by 31st December following the end of the financial year.
* Example: For FY 2024–25 → Due date is 31st December 2025 (unless extended).
6️⃣ Checklist Before You File (Avoid Scrutiny!)
Before submitting, ensure these are perfectly matched:
* GSTR-3B vs Books vs GSTR-1 (The golden triangle!)
* Verify all ITC reversals and ineligible ITC.
* Cross-check RCM (Reverse Charge Mechanism) entries and payments.
* Accurately report any refunds claimed and demands raised.
💡 Key Takeaways
* GSTR-9 = Annual Summary (Mandatory > ₹2 Cr)
* GSTR-9C = Reconciliation with Books (Mandatory > ₹5 Cr)
* Due Date = 31st December
* Action: File ON TIME to avoid hefty penalties! 💰
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Important Information & Documents for CA-CS & Tax Professions
🚨 MUST READ: Complete Annual GST Filing Guide (GSTR-9 & GSTR-9C) 🧾 Every GST-registered taxpayer needs to file their Annual Return. Don't miss the due date! Here is your essential breakdown of what, when, and how 👇 1️⃣ GSTR-9: The Annual Return * What is…
Share this in your groups to spread awareness — so that no one misses this important information and ends up attracting penalties if they fall under the limits for filing GSTR-9 and GSTR-9C.
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💼 GST ITC Reversal Rules – Explained Simply
Claiming Input Tax Credit (ITC) is easy 💸
But keeping it is tricky — wrong claim = reversal + interest!
Let’s decode when ITC needs to be reversed 🧵👇
1. 📘 What is ITC Reversal?
➡️ITC reversal means reducing or paying back the credit you earlier claimed —
either due to ineligibility, non-payment, or non-usage for taxable supplies.
2. ITC Reversal – Non-Business or Exempt Use (Rule 42 & 43)
➡️If inputs/services are used for both:
✅ taxable & ❌ exempt/non-business supplies —
then proportionate ITC must be reversed.
➡️Example:
If 20% of your turnover is exempt → reverse 20% ITC.
3. Non-Payment to Vendor within 180 Days (Rule 37)
➡️Didn’t pay your supplier within 180 days from invoice date?
🚫 Reverse the ITC + pay interest (18%).
✅ You can re-avail it once payment is made later.
4. Goods Lost, Stolen, or Destroyed (Sec 17(5)(h))
➡️ITC not allowed if goods are:
❌ Lost
❌ Stolen
❌ Destroyed or given as free samples/gifts
If already claimed → must reverse.
5. Change in Use of Capital Goods (Rule 43)
➡️If capital goods used for taxable supply are later used for:
• Exempt supply, or
• Personal purpose
→ Proportionate ITC reversal required based on remaining life (5 years).
6. Credit Notes / Purchase Returns
➡️If supplier issues a credit note or goods are returned,
ITC related to that value must be reversed from your books.
7. Composition Scheme Opt-In
➡️If you switch from regular GST to Composition Scheme,
all unutilized ITC on inputs, capital goods, and stock must be reversed on the date of switch.
8. Supply Becomes Exempt / GST Registration Cancelled
➡️If your outward supplies become exempt or your GST registration is cancelled →
You must reverse proportionate ITC on stock & capital goods held.
9. ITC Mismatch with GSTR-2B
➡️ITC not reflected in GSTR-2B = can’t be claimed.
➡️If wrongly availed → reverse immediately to avoid demand under Sec 73/74.
10. ⚖️ Interest & Penalty
➡️Interest @ 18% applies from the date of wrong availment till reversal.
➡️Voluntary reversal before notice helps avoid penalty under Sec 73(5).
11. 💡 Key Takeaways:
✅ Claim only eligible ITC
✅ Reconcile with GSTR-2B monthly
✅ Pay suppliers within 180 days
✅ Reverse promptly to avoid demand
Claiming Input Tax Credit (ITC) is easy 💸
But keeping it is tricky — wrong claim = reversal + interest!
Let’s decode when ITC needs to be reversed 🧵👇
1. 📘 What is ITC Reversal?
➡️ITC reversal means reducing or paying back the credit you earlier claimed —
either due to ineligibility, non-payment, or non-usage for taxable supplies.
2. ITC Reversal – Non-Business or Exempt Use (Rule 42 & 43)
➡️If inputs/services are used for both:
✅ taxable & ❌ exempt/non-business supplies —
then proportionate ITC must be reversed.
➡️Example:
If 20% of your turnover is exempt → reverse 20% ITC.
3. Non-Payment to Vendor within 180 Days (Rule 37)
➡️Didn’t pay your supplier within 180 days from invoice date?
🚫 Reverse the ITC + pay interest (18%).
✅ You can re-avail it once payment is made later.
4. Goods Lost, Stolen, or Destroyed (Sec 17(5)(h))
➡️ITC not allowed if goods are:
❌ Lost
❌ Stolen
❌ Destroyed or given as free samples/gifts
If already claimed → must reverse.
5. Change in Use of Capital Goods (Rule 43)
➡️If capital goods used for taxable supply are later used for:
• Exempt supply, or
• Personal purpose
→ Proportionate ITC reversal required based on remaining life (5 years).
6. Credit Notes / Purchase Returns
➡️If supplier issues a credit note or goods are returned,
ITC related to that value must be reversed from your books.
7. Composition Scheme Opt-In
➡️If you switch from regular GST to Composition Scheme,
all unutilized ITC on inputs, capital goods, and stock must be reversed on the date of switch.
8. Supply Becomes Exempt / GST Registration Cancelled
➡️If your outward supplies become exempt or your GST registration is cancelled →
You must reverse proportionate ITC on stock & capital goods held.
9. ITC Mismatch with GSTR-2B
➡️ITC not reflected in GSTR-2B = can’t be claimed.
➡️If wrongly availed → reverse immediately to avoid demand under Sec 73/74.
10. ⚖️ Interest & Penalty
➡️Interest @ 18% applies from the date of wrong availment till reversal.
➡️Voluntary reversal before notice helps avoid penalty under Sec 73(5).
11. 💡 Key Takeaways:
✅ Claim only eligible ITC
✅ Reconcile with GSTR-2B monthly
✅ Pay suppliers within 180 days
✅ Reverse promptly to avoid demand
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🧠AI Tools For CA - Drafting & Notice Reply👇
1. Drafting & summarization: -
- ChatGPT (GPT-5)
- Claude
- Notion AI
- Copilot for Word
2. Case law summarization & comparison: -
- LawSikho AI
- JusCorpus AI
- Casetext (CoCounsel)
3. Legal research & case law analysis: -
- Manupatra AI (JusAI)
- SCC Online Copilot
- Casemine AI
- Harvey AI
- LexisNexis+ AI
1. Drafting & summarization: -
- ChatGPT (GPT-5)
- Claude
- Notion AI
- Copilot for Word
2. Case law summarization & comparison: -
- LawSikho AI
- JusCorpus AI
- Casetext (CoCounsel)
3. Legal research & case law analysis: -
- Manupatra AI (JusAI)
- SCC Online Copilot
- Casemine AI
- Harvey AI
- LexisNexis+ AI
👍3❤2
The Central Board of Direct Taxes (CBDT) has decided to extend the due date of furnishing of Return of Income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2025-26, which is 31st October 2025 in the case of assessees referred in clause (a) of Explanation 2 to sub-Section (1) of Section 139 of the Act, to 10th December 2025.
The 'specified date' of furnishing of the report of audit under the provisions of the Income-tax Act, 1961, for the Previous Year 2024-25 (Assessment Year 2025-26) is further extended to 10th November 2025.
The 'specified date' of furnishing of the report of audit under the provisions of the Income-tax Act, 1961, for the Previous Year 2024-25 (Assessment Year 2025-26) is further extended to 10th November 2025.
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Please Note that for TP CASES, Tax Audit Date is still 31st October, 2025
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BIG NEWS for Practicing CAs! 🌟
The ICAI Council has proposed a significant amendment to the definition of "Management Consultancy & Other Services," which will explicitly include services as a "Research Analyst recognised by a Regulator (SEBI)."
This fulfills a long-standing demand! Practicing Chartered Accountants will now be able to officially provide Research Analyst services, provided all SEBI conditions are met.
The ICAI Council has proposed a significant amendment to the definition of "Management Consultancy & Other Services," which will explicitly include services as a "Research Analyst recognised by a Regulator (SEBI)."
This fulfills a long-standing demand! Practicing Chartered Accountants will now be able to officially provide Research Analyst services, provided all SEBI conditions are met.
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🚨10 Transactions That Instantly Go to the Income Tax Dept 📡🤖”
1️⃣ PAN–Aadhaar mismatch
2️⃣ Property purchases
3️⃣ Mutual fund lumpsum 10L+
4️⃣ Large UPI transfers
5️⃣ Business cash sales
6️⃣ ATM withdrawals 10L+ (combined)
7️⃣ Foreign remittance under LRS
8️⃣ Car purchase 10L+
9️⃣ Insurance premium 5L+
🔟 Educational fee payment abroad
🕵️♂️ Everything is monitored. Nothing is “invisible” now.
1️⃣ PAN–Aadhaar mismatch
2️⃣ Property purchases
3️⃣ Mutual fund lumpsum 10L+
4️⃣ Large UPI transfers
5️⃣ Business cash sales
6️⃣ ATM withdrawals 10L+ (combined)
7️⃣ Foreign remittance under LRS
8️⃣ Car purchase 10L+
9️⃣ Insurance premium 5L+
🔟 Educational fee payment abroad
🕵️♂️ Everything is monitored. Nothing is “invisible” now.
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“When Income Tax Notices are Issued (All Sections Explained)” 🧵👇
1. Why Does the Income Tax Dept Issue Notices?: -
➡️Notices are issued for 3 reasons:
✔️ Mismatch in data
✔️ Non-filing / under-reporting
✔️ Verification or investigation
Now let’s break down each type of notice section-wise 👇
2. Section 139(9) – Defective Return Notice: -
Issued when your filed return is incomplete or incorrect.
Common reasons:
❌ Missing balance sheet for business
❌ ITR mismatch with Form 26AS/AIS
❌ TDS claimed but income not shown
Action: Correct the ITR & re-submit.
3. Section 142(1) – Inquiry Before Assessment: -
➡️This is a pre-assessment notice. Issued when AO needs:
📄 Bank statements
📄 Books of accounts
📄 Proof of expenses
📄 Source of cash or property purchase
Action: Submit documents on time to avoid best-judgement assessment.
4. Section 143(1) – Intimation Notice: -
➡️Auto-generated after filing ITR.
Shows:
✔️ Tax payable
✔️ Refund
✔️ Adjustments
No need to panic — just verify.
5. Section 143(2) – Scrutiny Notice: -
The most feared notice 💥
Issued when department suspects:
❗️ Mismatch in AIS/TIS
❗️ Cash deposits
❗️ High-value transactions
❗️ Undisclosed income
❗️ Suspicious deductions
Purpose: Detailed examination of your return.
6. Section 148 – Income Escaping Assessment: -
Issued when dept believes you hid income.
Triggers:
💰 Cash deposits
🏠 Property deals
🧾 Fake expenses
🏦 High foreign remittances
Consequences: Re-opening of past years (up to 10 years in some cases).
7. Section 131 – Powers of Summons: -
Similar to court summons.
Used when:
📌 You don’t respond to earlier notices
📌 Evidence required
📌 Investigation of cash, property, business
You must appear or submit documents.
8. Section 133(6) – Information Request: -
Used to collect info from:
✔️ Bank
✔️ Employer
✔️ Tenant
✔️ Buyer/Seller
✔️ CA/Auditor
✔️ Any third party
Not always issued to taxpayer; sometimes to others related to your transaction.
9. Section 156 – Demand Notice: -
Issued when:
❗️ Tax, interest or penalty is due
Must be paid within 30 days.
10. Section 245 – Adjustment of Refund: -
➡️Your refund is adjusted against old outstanding demands.
➡️You get an intimation before adjustment.
11. Section 271 / 270A – Penalty Notices: -
Issued when:
❌ Under-reporting
❌ Misreporting
❌ Bogus expenses
❌ Fake purchases
❌ Concealment of income
Penalties can be 50%–200% of tax.
12. Section 226(3) – Bank Account Attachment: -
Harsh step.
Used when:
❗️ Repeated non-cooperation
❗️ Failure to pay taxes
❗️ Investigation into unaccounted money
Bank may freeze funds.
13. Section 133A – Survey Action: -
➡️Department visits office premises to verify business operations, stock, cash & books.
14. 🔥 Final Takeaway: -
Income Tax notices are NOT always for wrongdoing.
Most are for:
✔️ Mismatch
✔️ Non-response
✔️ Clarification
But ignoring them = heavy consequences.
1. Why Does the Income Tax Dept Issue Notices?: -
➡️Notices are issued for 3 reasons:
✔️ Mismatch in data
✔️ Non-filing / under-reporting
✔️ Verification or investigation
Now let’s break down each type of notice section-wise 👇
2. Section 139(9) – Defective Return Notice: -
Issued when your filed return is incomplete or incorrect.
Common reasons:
❌ Missing balance sheet for business
❌ ITR mismatch with Form 26AS/AIS
❌ TDS claimed but income not shown
Action: Correct the ITR & re-submit.
3. Section 142(1) – Inquiry Before Assessment: -
➡️This is a pre-assessment notice. Issued when AO needs:
📄 Bank statements
📄 Books of accounts
📄 Proof of expenses
📄 Source of cash or property purchase
Action: Submit documents on time to avoid best-judgement assessment.
4. Section 143(1) – Intimation Notice: -
➡️Auto-generated after filing ITR.
Shows:
✔️ Tax payable
✔️ Refund
✔️ Adjustments
No need to panic — just verify.
5. Section 143(2) – Scrutiny Notice: -
The most feared notice 💥
Issued when department suspects:
❗️ Mismatch in AIS/TIS
❗️ Cash deposits
❗️ High-value transactions
❗️ Undisclosed income
❗️ Suspicious deductions
Purpose: Detailed examination of your return.
6. Section 148 – Income Escaping Assessment: -
Issued when dept believes you hid income.
Triggers:
💰 Cash deposits
🏠 Property deals
🧾 Fake expenses
🏦 High foreign remittances
Consequences: Re-opening of past years (up to 10 years in some cases).
7. Section 131 – Powers of Summons: -
Similar to court summons.
Used when:
📌 You don’t respond to earlier notices
📌 Evidence required
📌 Investigation of cash, property, business
You must appear or submit documents.
8. Section 133(6) – Information Request: -
Used to collect info from:
✔️ Bank
✔️ Employer
✔️ Tenant
✔️ Buyer/Seller
✔️ CA/Auditor
✔️ Any third party
Not always issued to taxpayer; sometimes to others related to your transaction.
9. Section 156 – Demand Notice: -
Issued when:
❗️ Tax, interest or penalty is due
Must be paid within 30 days.
10. Section 245 – Adjustment of Refund: -
➡️Your refund is adjusted against old outstanding demands.
➡️You get an intimation before adjustment.
11. Section 271 / 270A – Penalty Notices: -
Issued when:
❌ Under-reporting
❌ Misreporting
❌ Bogus expenses
❌ Fake purchases
❌ Concealment of income
Penalties can be 50%–200% of tax.
12. Section 226(3) – Bank Account Attachment: -
Harsh step.
Used when:
❗️ Repeated non-cooperation
❗️ Failure to pay taxes
❗️ Investigation into unaccounted money
Bank may freeze funds.
13. Section 133A – Survey Action: -
➡️Department visits office premises to verify business operations, stock, cash & books.
14. 🔥 Final Takeaway: -
Income Tax notices are NOT always for wrongdoing.
Most are for:
✔️ Mismatch
✔️ Non-response
✔️ Clarification
But ignoring them = heavy consequences.
❤7👍1
🧠AI Tools For CA (Part-1)
For Accounting & Bookkeeping
1. Automated bookkeeping & reconciliation: -
➡️Zoho Books AI
➡️TallyPrime with AI add-ons
➡️QuickBooks AI
➡️Xero
2. Invoice data extraction: -
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3. Bank statement analysis: -
➡️Perfios
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For Accounting & Bookkeeping
1. Automated bookkeeping & reconciliation: -
➡️Zoho Books AI
➡️TallyPrime with AI add-ons
➡️QuickBooks AI
➡️Xero
2. Invoice data extraction: -
➡️Docsumo
➡️Veryfi
➡️Klipboard
➡️Kofax
3. Bank statement analysis: -
➡️Perfios
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➡️Finly AI
❤4👏1