Posts

ITR Filing Due Date Extended for AY 2026-27: New Last Date, CBDT Notification & Eligibility

-
Image
Sharda Associates is a Chartered Accountant-led business and financial consultancy firm that has prepared over 45,500 CA-certified project reports . Along with project report preparation, the firm assists businesses, companies, professionals and individual taxpayers with Income Tax Return filing, tax audit compliance, financial documentation and income tax notices. With professional guidance from Sharda Associates, taxpayers can understand the latest CBDT updates, identify their applicable filing deadlines and complete their income tax compliance accurately and on time. Quick Answer: The Central Board of Direct Taxes (CBDT) has extended the Income Tax Return (ITR) filing due date for Assessment Year 2026-27 from 31 October 2026 to 21 November 2026 for specified taxpayers subject to audit under the Income-tax Act, 1961. The related tax audit report deadline was also extended from 30 September 2026 to 21 October 2026 through Circular No. 07/2026 dated 28 September 2026. This extensio...
Post a Comment
Read more

AIS Mismatch Email & SMS: CA Guide for ITR & Tax Compliance

-
Image
Short answer: An AIS mismatch email or SMS is a system-generated advisory from the Income Tax Department. It says the information in your Annual Information Statement (AIS) differs from your filed ITR, or that you have not filed despite reported transactions. The department has described such messages as an opportunity for voluntary correction, not a penalty. Review your AIS, give feedback on the Compliance Portal if an entry is wrong, and revise or file your return if the entry is right and you missed it. The message usually arrives without warning, often after you thought your ITR was done. The wording sounds serious, a few lines about a "variance", and many people either panic or ignore it. Both reactions can cost you. Sharda Associates is a CA-led firm that has prepared over 45,500 CA-certified reports , including project reports and loan documentation where banks look closely at your ITR. A mismatch between AIS and ITR can surface at exactly that point, so we treat it a...
Post a Comment
Location: India
Read more

What Happens If a Supplier Does Not Pay GST After You Claim ITC?

-
Image
  Quick answer: If your supplier does not deposit GST after you claim Input Tax Credit (ITC), the GST department can deny or reverse that credit from you, charge interest at 18% a year and issue a notice under Section 73, 74, or 74A of the CGST Act. At Sharda Associates , our GST and project report consultants help businesses with ITC reconciliation, notice replies and bank-ready project reports, and this guide explains the law, the risks and the steps that protect your credit. You bought goods or services, received a valid tax invoice, paid your supplier in full and claimed Input Tax Credit (ITC) in your GSTR-3B. Everything looks compliant. Then a notice arrives: your supplier never deposited the GST with the government, and the department wants the credit back from you. This is one of the most common and most frustrating GST disputes faced by Indian businesses. Here is what the law says, what the risks are and how you can protect yourself. The Legal Position: ITC Is a Conditiona...
Post a Comment
Location: India
Read more