What are the opening hours?

Monday 10am - 6pm Tuesday 10am - 6pm Wednesday 10am - 6pm Thursday 10am - 6pm Friday 10am - 6pm Saturday 10am - 6pm

G Joshi & Co., Tax Consultants, 12-8443/448 2nd Floor Kaveri Court, Above Canara Bank, Near Mettuguda metro station, Mettuguda, Secunderabad, Hyderabad (2026)

23/04/2026

Attention Stakeholders!

To ensure efficient handling and timely resolution of queries, all stakeholders are requested to adhere to the following:

🔹 Raise a single ticket for each issue to avoid duplication and ensure proper tracking.

🔹 Re-open the resolved ticket within the stipulated time period if the issue remains unresolved, instead of raising a new one. Re-opened tickets are accorded priority for faster resolution.

🔹 Provide complete and accurate details while raising a ticket, including a clear description of the issue along with relevant screenshots and/or error messages, to facilitate prompt action.

Stakeholders are further encouraged to provide their feedback on the MCA portal, as it contributes to improving overall response timelines.

17/04/2026

Deferred Tax – Complete Notes

1. Introduction

Deferred tax arises due to temporary differences between accounting income (reported in financial statements) and taxable income (reported to tax authorities).

It ensures that tax expense in the income statement reflects the true economic activity of a period rather than just the tax payable.

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2. Key Concepts

a. Accounting Profit vs Taxable Profit

Accounting Profit: Profit calculated as per accounting standards (IFRS/GAAP)

Taxable Profit: Profit calculated as per tax laws

Differences between these lead to deferred taxes.

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b. Types of Differences

1. Permanent Differences

Do NOT reverse in future

Example: Fines, penalties, tax-exempt income

No deferred tax arises

2. Temporary Differences

Reverse in future periods

Cause deferred tax

Types:

Taxable Temporary Differences → Deferred Tax Liability (DTL)

Deductible Temporary Differences → Deferred Tax Asset (DTA)

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3. Deferred Tax Liability (DTL)

Definition:

Future tax payable due to taxable temporary differences.

Example:

Depreciation (tax faster than accounting)

Lower taxable income today → higher tax later

Journal Entry:

Dr. Income Tax Expense
Cr. Deferred Tax Liability

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4. Deferred Tax Asset (DTA)

Definition:

Future tax benefit due to deductible temporary differences.

Example:

Provision expenses disallowed now but allowed later

Higher taxable income today → lower tax later

Journal Entry:

Dr. Deferred Tax Asset
Cr. Income Tax Expense

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5. Recognition Principles (IAS 12)

DTL:

Recognized for all taxable temporary differences (with few exceptions)

DTA:

Recognized only if probable that future taxable profit will be available

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6. Measurement of Deferred Tax

Based on tax rates expected to apply in the future

Uses enacted or substantively enacted tax rates

Formula: Deferred Tax = Temporary Difference × Tax Rate

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7. Common Causes of Deferred Tax

1. Depreciation differences

2. Revenue recognition timing

3. Provision and accruals

4. Inventory valuation differences

5. Unrealized gains/losses

6. Carry forward losses

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8. Carry Forward Losses

Losses can be carried forward to offset future profits

Creates Deferred Tax Asset

Recognized only when recovery is probable

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9. Presentation in Financial Statements

Shown in Non-current assets/liabilities

Offset allowed if:

Same tax authority

Legal right to offset

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10. Deferred Tax vs Current Tax

Basis Current Tax Deferred Tax

Meaning Tax payable now Tax payable in future
Basis Tax laws Temporary differences
Timing Current period Future periods

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11. Practical Example

Asset cost = 100,000
Accounting depreciation = 10,000/year
Tax depreciation = 20,000/year
Tax rate = 30%

Temporary difference = 10,000
Deferred Tax Liability = 10,000 × 30% = 3,000

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12. Reversal of Deferred Tax

Occurs when temporary differences reverse

DTL decreases over time

DTA utilized in future periods

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13. Advantages of Deferred Tax Accounting

Matches tax expense with income

Improves financial statement accuracy

Reflects future tax consequences

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14. Disadvantages / Limitations

Complex calculations

Requires judgment (especially DTA recognition)

Changes in tax rates affect balances

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15. Important Exam Points

Deferred tax arises ONLY from temporary differences

DTA requires probability of future profit

Permanent differences do NOT create deferred tax

Always apply correct future tax rate

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16. Summary

Deferred tax ensures proper matching of tax expenses with accounting income by accounting for timing differences between tax and accounting rules.

DTL → Future tax payment

DTA → Future tax benefit

Understanding deferred tax is essential for accurate financial reporting and analysis.

Accounting and Finance Financial Accounting Mastering Financial Accounting Financial accounting & commerce Financial accounting master Financial Accounting ways

17/04/2026

Attention Stakeholders!

If you are facing the error “DSC is not registered with the Director DIN” while filing DIR-3 KYC Web, you are advised to ensure the following:

🔹The Digital Signature Certificate (DSC) is duly registered on the MCA portal against the Director’s business user account with the Director role and DIN. The same DSC is being used while filing the DIR-3 KYC Web form.
🔹 If business user account is created but DSC is not registered, you are required to register the DSC against the business user account on the MCA Portal.
🔹If business user account exists but registered email ID needs to be changed, you may log in using Mobile OTP on the MCA portal and proceed with DSC registration (or vice versa).
🔹 If both registered email ID and mobile number are inactive, or if you are unable to associate DSC due to any other issue, you are requested to raise a service-related complaint on the MCA Portal. Kindly mention the SRN of DIR-3 KYC Web which is pending for DSC upload and payment.

Note:
DIN holder’s DSC will not be validated if the DIN is deactivated due to non-filing of DIR-3 KYC, and the purpose selected is “Reactivation of DIN”, and DIN holder has not filed DIR-3 KYC eForm at least once where the DIN allotment date is on or before 31 March 2025.

10/04/2026

📘 UNDERSTANDING THE CHART OF ACCOUNTS

The Chart of Accounts is a foundational tool in accounting. It organizes all the financial transactions of a business into categories, making it easier to track performance, prepare reports and make informed decisions.

🖋 The Clear Explanation Of Each Category: -

1️⃣ ASSETS
These are resources owned by the business that have value. They include items like office equipment, computer equipment, buildings, machinery, stock, bank accounts, petty cash, accounts receivable and goodwill.

2️⃣ INCOME
This is the money the business earns from its operations. Common income accounts include sales, consultancy services and other income sources.

3️⃣ LIABILITIES
These are obligations the business owes to others. Examples include credit card balances, accounts payable, income tax payable, payroll taxes, bank loans and overdrafts.

4️⃣ EQUITY
This represents the owner's interest in the business. It includes capital invested by the owner, drawings taken out, retained earnings from past profits and current year earnings.

5️⃣ EXPENSES
These are costs incurred in running the business. They include advertising, bank fees, consultancy fees, depreciation, entertainment, insurance, payroll expenses, professional fees, rent, subscriptions, travel, utilities and shipping.

♂️ KEY TAKEAWAY
A well-structured Chart of Accounts gives businesses clarity and control over their finances. It supports accurate bookkeeping and reliable financial reporting.

10/04/2026

The Ministry of Corporate Affairs (MCA) has issued a public notice and explanatory note dated 8th April, 2026 regarding a draft notification titled “Companies (Incorporation) Amendment Rules, 2026”, proposing amendments to the existing Companies (Incorporation) Rules, 2014.

The proposed amendments are aimed at streamlining the company incorporation process, reducing compliance burden on stakeholders and further strengthening the Ease of Doing Business framework.

The draft notification has been placed on the official website of the Ministry inviting suggestions and comments from the stakeholders.

📝 Stakeholders are requested to submit their suggestions/comments, along with brief justification, through the e-Consultation Module available on mca.gov.in. by 9th May, 2026.

🔗 For detailed information, please refer to the official communication issued by MCA:

mca.gov.in/bin/dms/getdoc…

07/04/2026

Pan Card Correction Alert
As per new changes from 1st April 2026 onwards there are two forms for changes or correction in the pan card.

👍 Pan Cr -01 : Request for changes or correction in Pan Data ( For an Individual)
👍 Pan Cr -02 : Request for Changes or correction in Pan Data ( For Non-Individual)

06/04/2026

TRUE LEADERS GROW OTHERS, NOT POWER

1. Leadership Begins with Followership
True leaders are always first great followers. If you cannot follow, you are not yet ready to lead. Followership is the testing ground of humility, the training field for service, and the measure of your readiness. Leadership is not merely about vision—it’s about where you have served, what you have built in others, and how you have lifted those around you.

No human was meant to dominate alone. The dominion mandate was given to all mankind—not as a license for power, but as a call to stewardship. Leadership is a privilege, not a right. You test your capacity in service, not in command. Beware the one who has only sought power; the heart of true leadership is forged in service, not ambition.

2. Identity Shapes Influence, Not Vision Alone.
The most difficult thing to change is not your vision—it is your identity. Who you are defines how you lead. Work on your identity first: your values, your standards, and your character. Ask yourself: do I fight for power, or has power been entrusted to me through service and recognition? People don’t follow titles, positions, or even your vision alone—they follow your integrity, your gift, and the example you set.

Leadership teaches humility. It reminds you that all lions are equal in the jungle; it is not a battlefield to conquer but a place to nurture kings. Your role is not to kill, but to empower. Raise others to be lion-like, to walk in their strength, to take up their own mantle of influence.

3. Vision Without Empowerment Is Empty.
A leader’s vision is only as strong as the people they cultivate. Your job is to make others powerful, capable, and courageous—so they too can lead. The legacy of leadership is not how high you rise alone, but how many you lift along the way.

Great leaders fight for impact, not recognition. They plant seeds, invest time, and mentor relentlessly. In doing so, they create a network of leaders who carry forward the same principles of service, humility, and courage.

Leadership is a journey of identity, service, and empowerment. Serve first. Lead second. And in doing so, leave a trail others will want to follow.

© Ayobami Francis

06/04/2026

GSTN Advisory for taxpayers who are facing difficulty in filing appeals, where adjudication orders was passed with NIL demand based on voluntary payment made by taxpayers without actually admitting the demand.

06/04/2026

Working capital is the cash engine behind your business.
When it breaks down, everything else follows. Even if sales look strong.

Here are 7 red flags that signal your working capital is under stress
and what to do about each one:

🚩 1. Customers Are Paying Late
Every unpaid invoice is cash you've earned but can't use.
↳ Set clear payment deadlines and assign someone to enforce them.
↳ A collections system beats a polite follow-up every time.

🚩 2. Inventory Isn't Moving
Product sitting in a warehouse is money you can't spend.
↳ Set sales targets by product category. Review monthly.
↳ If it's not turning, it's burning your cash.

🚩 3. The Cash Cycle Is Stretching
You're paying out faster than cash is coming in.
↳ Track how long it takes to convert operations into cash.
↳ If that gap is growing, your liquidity is shrinking.

🚩 4. Suppliers Are Getting Paid Too Fast
Paying early when you don't have to costs you money.
↳ Know your payment terms and use them fully.
↳ Early payment only makes sense if the discount outweighs the cost.

🚩 5. The Short-Term Cushion Is Too Thin
If your short-term debts are close to your short-term assets, you have no buffer.
↳ Set a minimum cash threshold your business won't go below.
↳ Check every major decision against it before you say yes.

🚩 6. Long-Term Debt Is Covering Day-to-Day Costs
Using long-term loans to pay short-term bills is a warning sign.
↳ The right tool for daily operations is a revolving credit line.
↳ Long-term debt is for long-term investments—not payroll.

🚩 7. You Only See Cash Problems After They Hit
No forecast means no early warning system.
↳ Build a 13-week cash forecast so you see problems coming.
↳ Know your minimum cash floor and protect it.

Bottom line?

Most CEOs find out their working capital is broken when the bank account drops.
Not because the signs weren't there.
Because no one was tracking them.

These 7 flags show up weeks — sometimes months — before a crisis hits.
The question is whether you're watching for them.

Credit: Oana Labes, MBA, CPA

05/04/2026

BIG UPDATE – ITR FORMS AY 2026-27

The Income Tax Department has introduced important changes in ITR forms and compliance timelines. Every taxpayer must take note of these updates 👇

🔑 Key Changes in ITR Forms

✅ 🏠 Now claim up to 2 House Properties in ITR-1 & ITR-4
Earlier restricted to 1 property — major relief for salaried & small taxpayers

✅ 💰 New Fee for Revised Return (Sec 234-I)
• ₹1,000 → Income up to ₹5 lakh
• ₹5,000 → Other cases

✅ 📊 F&O Reporting Made Clear (ITR-3)
Separate disclosure added for:
• Turnover from F&O
• Income from F&O

📅 ITR Due Dates (AY 2026-27)

🗓️ 31 July 2026 → ITR-1 & ITR-2 (Non-Audit)
🗓️ 31 Aug 2026 → ITR-3 & ITR-4 (Non-Audit)
🗓️ 31 Oct 2026 → Audit Cases
🗓️ 30 Nov 2026 → Transfer Pricing Cases
🗓️ 31 Dec 2026 → Belated Return
🗓️ 31 Mar 2027 → Revised Return
🗓️ 31 Mar 2031 → Updated Return (ITR-U)

📄 Which ITR Form is Applicable?

✔️ ITR-1 (Sahaj) → Salary + up to 2 house properties
✔️ ITR-2 → Capital gains / multiple properties
✔️ ITR-3 → Business & professional income
✔️ ITR-4 (Sugam) → Presumptive taxation
✔️ ITR-5/6/7 → Firms, Companies, Trusts

⸻

⚠️ Important Note:
ITR for AY 2026-27 will still be filed under the old Income Tax Act, 1961

🎯 Action Point:
Start preparing documents early to avoid last-minute errors & penalties

05/04/2026

Your financial habits can keep you in the rat race forever.

Or they can start building wealth that outlasts you.

The way you handle money shapes everything else:

Your allocation decisions
Your exposure to risk
Your ability to grow assets while protecting your wealth

And most people have financial habits that limit their actual potential.

But those who reach real financial independence are most often the wealthiest ones in the room.

They also have the highest standards around how they move their money.

These are the 10 habits that separate wealth builders from high earners:

1️⃣ Build systems around your money
↳ Map every financial flow you have (your income, expenses, and investments).
↳ Review all the numbers at the end of the month without getting emotional.

2️⃣ Protect downside before chasing upside
↳ Build a cash reserve that covers 6 months of operating costs.
↳ Analyze the worst-case outcome of every investment before committing.

3️⃣ Treat income as capital to allocate
↳ Decide your allocation percentages before you spend a single dollar.
↳ Invest first and adjust your lifestyle around what you have left.

4️⃣ Invest on a schedule
↳ Deploy capital on a fixed timeline regardless of how the market feels that week.
↳ Don't make any decisions when you're in a panic state.

5️⃣ Separate active from passive strategies
↳ Keep the core of your wealth in long-term, lower-risk assets.
↳ Reserve a smaller % for active opportunities with higher risk.

6️⃣ Use debt only for income-producing assets
↳ Clear consumption debt as a first priority.
↳ Leverage belongs on assets that generate returns.

7️⃣ Build multiple controlled income streams
↳ Secure one reliable cash-flow source before expanding.
↳ Add streams deliberately, not reactively.

8️⃣ Track performance every single month
↳ Review your cash flow and return on investment on a fixed date each month.
↳ Do not ever skip a review session to avoid mistakes.

9️⃣ Invest in the right rooms
↳ Spend time with people who have capital conversations daily.
↳ Your financial standards will rise to match the room you're in.

🔟 Define wealth as control, not just accumulation
↳ Make decisions that increase your options and flexibility over time.
↳ Avoid purchases that increase obligation without increasing equity.

The change from focusing on income to focusing on assets is the single most important financial decision a founder can make.

Income stops when you stop working.
Assets keep building whether you're in the room or not.

That should be the standard that you are always building toward.

G Joshi & Co., Tax Consultants

23/04/2026

17/04/2026

17/04/2026

10/04/2026

10/04/2026

07/04/2026

06/04/2026

06/04/2026

06/04/2026

05/04/2026

05/04/2026

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