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Mavensmark

Mavensmark is a consulting company providing end-to-end management consulting services.

Mavensmark is a consulting company providing end-to-end management consulting services starting from business registration, regular legal and tax compliance, accounting, bookkeeping, assurance, secretarial and advisory services.

15/04/2026

#2026

01/04/2026

The new financial year brings with it one of the most significant shifts in India's tax and compliance landscape in over six decades.

The Income Tax Act, 1961 — the law that governed every taxpayer, every business, and every professional in this country — has been officially replaced by the Income Tax Act, 2025, effective 1 April 2026. Along with it come revised TDS and TCS structures, expanded HRA eligibility, tighter PAN norms, restructured salary frameworks under the Code on Wages, and a fundamentally simplified filing system that does away with the long-standing confusion between Assessment Year and Previous Year.

For businesses, this is not just a regulatory update. It is an opportunity to start fresh — with cleaner books, smarter tax planning, and a compliance framework that is finally designed to be understood, not just followed.

At Mavensmark, we have been working closely with businesses across India to ensure this transition is smooth, informed, and well ahead of deadlines. Whether you are a startup navigating your first full financial year, an established company recalibrating payroll and GST systems, or a professional looking to optimise under the new regime — we are here to make complexity simple.

This carousel breaks down the 8 most important changes taking effect from April 1. We encourage you to save it, share it with your finance teams, and reach out to us if you need clarity on any provision.

New satisfactory year begins. Let us help you make it satisfactory.

Mavensmark — Channelizing Expertise. Optimizing Business. mavensmark.com

31/03/2026

FY 2025–26 ends today.

Here are 10 critical compliance tasks every Indian business must close before midnight — covering Income Tax, GST, Labour Laws, and Corporate filings.From advance tax and tax-saving investments to MSME payment rules under Section 43B(h), GST reconciliation, PF/ESI deposits, and preparing for the new Income Tax Act 2026 — this checklist has you covered.

Don't let missed deadlines cost you penalties, lost deductions, or compliance notices.

Save this. Share it with your CA. Act now.

Need help closing your books? Mavensmark is here.
🌐 mavensmark.com

26/01/2026

#2026

31/12/2025

#2025 #2026

25/12/2025

#2025

19/06/2025

We thank each and every one of our team members, clients and associates for being a part of our incredible 10 years of Journey since inception on 19-06-2015.

01/05/2025

🗓️ Important Tax Compliance Deadlines – May 2025

Missing a deadline can cost you penalties. Here’s a quick and clear guide to help you stay compliant this month:

🔹 7 May – Pay TDS/TCS for April 2025
🔹 7 May – Upload Form 27C for April declarations
🔹 15 May – Issue TDS certificates:
• Section 194-IA – Property deals
• Section 194M – Payments by non-audit individuals/HUF
• Section 194S – Crypto/digital assets
🔹 30 May – File challan-cum-statements for April under:
• 194-IA (Property)
• 194M (Non-audit individuals)
• 194-IB (Rent)
• 194S (Crypto/digital assets)
🔹 30 May – Issue TCS certificates for Jan–Mar 2025
🔹 31 May – File TDS return for Jan–Mar 2025
🔹 31 May – File return for TDS on superannuation contributions
🔹 31 May – Submit Form 61A – Specified Financial Transactions

✅ Need help keeping your tax filings on track?
Contact MavensMark for expert guidance and hassle-free tax compliance services.

🌐 www.mavensmark.com
📞 +91 97448 47361

30/04/2025

GST Composition Scheme: Is It Right for Your Small Business? 💡

Small businesses often struggle with complex GST compliance — but there’s a simpler route.

Enter the GST Composition Scheme — a flat-rate, hassle-free option for eligible businesses.
Here’s a quick breakdown 👇

🔹 Who Can Opt-In?
• Turnover up to ₹1.5 Cr (₹75L for special states) — manufacturers/traders
• Turnover up to ₹50L — service providers
❌ Not eligible if you:
– Sell inter-state
– Sell via e-commerce platforms
– Deal in notified goods (like ice cream, to***co, etc.)

🔹 Key Features:
• Flat tax rates:
– 1% for manufacturers/traders
– 5% for restaurants (non-alcohol)
– 6% for service providers
• No Input Tax Credit (ITC)
• File CMP-08 quarterly + GSTR-4 annually
• Simple compliance, minimal paperwork

🔹 Benefits:
✅ Lower tax liability
✅ Easier filing
✅ Ideal for local, B2C businesses

🔹 Points to Remember:
• Can’t collect GST from customers
• Must display “Composition taxable person” on invoices/signboard
• Switching back to regular GST needs extra steps

If you’re a small business focused on local, B2C sales — this could be a time + cost saver.
But for B2B or inter-state ambitions, the regular GST scheme might suit you better.

29/04/2025

Now Pay Taxes Without Logging In! 🚨
The Income Tax Department just made life easier for taxpayers with a new update 💼👇
Introducing the ‘e-Pay Tax’ feature —
You can now pay your taxes online without logging in to the IT portal.
No more remembering passwords. No more long steps.
🧾 What You Can Pay:
✔️ Income Tax
✔️ Advance Tax
✔️ Self-Assessment Tax
✔️ TDS / TCS
✔️ Other tax-related payments

💳 Payment Options:
✔️ Net Banking
✔️ Debit/Credit Cards
✔️ UPI
✔️ NEFT/RTGS

✅ How It Works:
1. Go to 👉 incometax.gov.in
2. Click on ‘e-Pay Tax’
3. Enter your PAN & mobile number
4. Verify OTP
5. Select tax type & payment method
6. Complete the transaction
📩 You’ll receive instant confirmation + a downloadable receipt.

💡 This is a great step towards simplifying tax compliance and making payments more user-friendly — especially for individuals and small business owners.
Know someone who struggles with online tax payments?
👉 Share this update with them!

28/04/2025

CBDT Introduces 1% TCS on Luxury Goods Above ₹10 Lakh: Key Update for Buyers and Sellers
The Central Board of Direct Taxes (CBDT) has announced a new rule:
A 1% Tax Collected at Source (TCS) will now apply to certain luxury goods sold for more than ₹10 lakh.
This rule is effective from April 22, 2025.

What’s New?
Sellers are now required to collect 1% TCS at the time of sale on specified luxury goods exceeding ₹10 lakh.

The collected tax will be linked to the buyer’s PAN and reflected in Form 26AS, allowing buyers to claim it as a credit while filing their Income Tax Return (ITR).

Luxury Goods Covered
TCS will apply if the value of the following goods exceeds ₹10 lakh:
• Luxury wristwatches
• Artworks (antiques, paintings, sculptures)
• Collectibles (coins, stamps)
• Yachts, boats, canoes, helicopters
• Designer sunglasses
• Premium handbags and purses
• Luxury shoes
• High-end sportswear and equipment (golf kits, ski wear)
• Home theatre systems
• Racehorses and polo horses

TCS Rate and Threshold
• TCS Rate: 1% of the sale value
• Threshold: Applicable for individual items priced above ₹10 lakh

Compliance Requirements for Sellers
• Collect 1% TCS on sales exceeding ₹10 lakh.
• Deposit TCS within the due dates.
• Report transactions through the updated Form 27EQ.
• Issue a TCS certificate to the buyer for ITR credit.

Important Points for Buyers
• 1% TCS will be collected on luxury purchases exceeding ₹10 lakh.
• The TCS amount will appear in Form 26AS.
• Buyers can claim the TCS amount as credit while filing their ITR.
• Refunds are possible if the final tax liability is lower than the TCS amount collected.

Stay Compliant with Ease
Contact Mavensmark for expert guidance on tax compliance!
🌐 Visit: www.mavensmark.com
📞 Call/WhatsApp: +91 97448 47361
Our team can assist you with TCS compliance, ITR filing, and refunds related to luxury goods transactions.

26/04/2025

Sajjan India Ltd fined ₹3.57 lakh for delay in appointing a woman director

Another strong reminder that compliance isn’t optional — even for the big players.
Here's what happened:

🔹 The Law
Under Section 149(1) of the Companies Act, 2013 — public companies with a certain capital/turnover must have at least one woman director on their board.

🔹 The Case
Sajjan India Ltd initially complied by appointing a woman director in Jan 2020.
She resigned in May 2022.
But the company failed to appoint a replacement for 215 days — far beyond the legal limit.

🔹 The Result
The MCA fined:
▪️ Sajjan India Ltd – ₹1,57,500
▪️ CEO – ₹1,00,000
▪️ CFO – ₹1,00,000
Total penalty: ₹3,57,500

🔹 The Lesson
Whether you're a startup or an industry giant — staying compliant with corporate governance laws isn’t just good practice, it’s a legal responsibility.
And gender diversity is not a box to tick. It's a mandate. 💼
Let’s not wait for fines to do what’s right.
Let’s build better boards and better businesses. 💡

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PC Lane, Kowdiar P. O.
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Monday	9am - 6pm
Tuesday	9am - 6pm
Wednesday	9am - 6pm
Thursday	9am - 6pm
Friday	9am - 6pm

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088930 52588

Website

http://www.mavensmark.com/

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