Agrawal S R & Associates

04/04/2026

📢 ICAI Update

ICAI has announced the applicability of Guidance Notes for Financial Statements of Non-Corporate Entities & LLPs.

✨Effective:
🔹 From 1 April 2025 – Turnover above ₹5 Crore
🔹 From 1 April 2026 – Applicable to all entities

Businesses and professionals should prepare in advance for updated reporting and disclosure requirements.

03/04/2026

3 of New Series – Tax Year 2026-27 📘

AY & PY ka confusion finally khatam! 🙌
Income Tax Act 2025 introduces a simple concept — TAX YEAR.

✅ Earlier (1961 Act):
Income earned in Previous Year
Tax assessed in Assessment Year
➡️ Do alag terms = unnecessary confusion.

✨ Now (2025 Act):
✔ Only ONE term – Tax Year
✔ Income year = Tax reference year
✔ Easy understanding & simplified compliance.

📌 Example:
Income earned in 2026–27 👉 Tax Year 2026–27 (Bas itna simple)

👉 Save for future reference & follow for simplified tax updates.

02/04/2026

🚨 New Income Tax Act 2025 – Key Change Explained!

👉 of New Series : Tax Year 2026-27

Ab tak aap Form 16 use karte the, lekin 1 April 2026 se ek naya format introduce ho raha hai – Form 130 📄

🔍 Kya change ho raha hai?
➡️ Form 16 ka naam change hoke Form 130 ho jayega
➡️ Salary breakup ab aur detailed & component-wise milega
➡️ Deductions (80C, 80D etc.) ke liye ab Proof PIN / ID dena hoga
➡️ Form ka structure zyada organized & ITR-friendly banega
➡️ Employer details me ab Contact + PAN + TAN clearly mention hoga

💡 Kya same rahega?
✔️ Ye ab bhi TDS Certificate hi rahega
✔️ Salary tax rules me koi change nahi
✔️ Har saal ki tarah issue hoga

📌 Sabse important baat:
❌ Tax me koi change nahi hai
✅ Sirf transparency aur clarity badhayi gayi hai

📅 Effective from: 1 April 2026
👉 Applicable for Tax Year 2026-27

Agar aap salaried employee ho ya accounts/tax field me ho, ye update samajhna bahut important hai 👍

💬 Save karo, share karo aur follow karo for more easy tax updates!

01/04/2026

📢 BIG TAX UPDATE | 2026-27
👉 of New Series : Tax Year 2026-27

Form 15G & 15H ❌
Now replaced by ✅ Form 121 (Single Unified Form)

✔️ One form for all eligible taxpayers
✔️ Centralised system = less hassle
✔️ Same conditions (Nil tax liability & income within limit)

⏳ Applicable from Tax Year 2026-27

23/09/2025

📢 Big news! CBIC has launched an UPDATED GST Ready Reckoner for CGST rates on goods!

This comprehensive tool is essential for businesses and professionals to stay compliant. It consolidates all amendments and rate changes, making it easier than ever to find the correct GST rate for various goods.

Key highlights: ✔️ Up-to-date CGST rates on a wide range of goods. ✔️ A single reference point, superseding multiple notifications.

Simplify your GST compliance today!

👉 Want the complete list?
Follow our page & comment 'Reckoner'

19/09/2025

20/07/2025

🚨 GSTR-3A Notice Alert 🚨
Have you received a GSTR-3A notice for non-filing of GSTR-4 even though your GST registration was cancelled? Don’t panic!

🔹 Due to a system glitch, some notices were mistakenly issued to cancelled composition taxpayers.
🔹 If you’ve already filed GSTR-4 or your registration was cancelled before FY 2024–25, you can ignore the notice.
🔹 The issue is under technical review by the GSTN team.
🔹 For any concern, raise a grievance on the GST Portal

✅ Stay informed. Stay compliant.
📌 Follow for real-time GST updates

14/07/2025

🚨 Income Tax Department Cracks Down on Bogus Deductions & Exemptions 🧾

On 14th July 2025, the Income Tax Department launched a nationwide verification drive targeting fraudulent claims in ITRs, particularly fake deductions under sections like 10(13A), 80GGC, 80E, 80D, 80EE, 80EEB, 80G, 80GGA, and 80DDB.

🔍 What They Found:
▪️ Rackets operated by certain ITR preparers and intermediaries.
▪️ Fictitious claims filed to get inflated refunds, sometimes using fake TDS entries.
▪️ Fraudulent activity traced in states like Maharashtra, Tamil Nadu, Delhi, Gujarat, Punjab, and MP.
▪️ Around 40,000 taxpayers revised their returns, voluntarily withdrawing false claims worth ₹1,045 crore!

🧠 The department used AI tools, third-party data, and ground-level intelligence to track patterns. Many fraudulent filers were lured by promises of high refunds, in return for commissions.

⚠️ Key Advisory:
If you're filing ITR, don’t fall for agents promising high refunds. File with correct income and deduction details. Fake claims can lead to penalties, prosecution, and more.

📢 This is a reminder that the Income Tax Department is actively verifying returns. Be honest. Be compliant.

21/06/2025

Breathe in calm, breathe out stress 🧘‍♀️🌿
This Yoga Day, let's pause, stretch, and reconnect with our inner peace.

Happy International Yoga Day 🧘‍♀️

01/06/2025

🧠💡 WORD HUNT CHALLENGE! 💡🧠
Can you spot all the Tax related words in this grid? 👀💰
💬 Comment below the words you found — let’s see who gets all of them!
📌 Bonus: Tag a friend who’s a tax pro or finance nerd! 🧾📊

27/05/2025

Big Relief for Taxpayers!
CBDT extends the due date for filing ITRs for AY 2025-26 from 31st July to 15th September 2025.
This extension comes in light of major updates to ITR forms and utilities, ensuring smooth and accurate filing for all.

27/05/2025

We are happy to announce that our community is now 3,000 strong!
Each one of you plays a part in this journey, and we’re truly grateful for your trust and support.

Thank you for believing in our content, engaging with us, and helping us grow.
Here’s to sharing more knowledge, insights, and value — together!

Next stop? 5K – are you with us?