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The Central Board of Direct Taxes (CBDT) has extended the tax audit report deadline for Assessment Year (AY) 2026-27 to ...
28/09/2026

The Central Board of Direct Taxes (CBDT) has extended the tax audit report deadline for Assessment Year (AY) 2026-27 to October 21, 2026, and the corresponding ITR filing deadline to November 21, 2026.

Revised Deadlines for AY 2026-27

Tax Audit Report Due Date: Extended from September 30, 2026, to October 21, 2026.

Income Tax Return (ITR) Due Date: Extended from October 31, 2026, to November 21, 2026 (for corporates and applicable audit cases).

Key Details

Compliance Action: Chartered Accountants must upload the tax audit reports on behalf of their clients through the official Income Tax e-Filing Portal.

Reason for Relief: The 21-day extension provides much-needed relief to taxpayers, businesses, and tax professionals following representations regarding compressed timelines and compliance pressures.

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NS Tax Consultancy- Undri

28/09/2026

🚨 BIG TAX AUDIT UPDATE!

📢 TAX AUDIT & ITR DUE DATE EXTENDED

For FY 2025-26 / AY 2026-27, CBDT has extended the due dates for specified taxpayers subject to tax audit.

📌 TAX AUDIT REPORT
❌ Earlier: 30 September 2026
✅ Extended: 21 October 2026

📌 INCOME TAX RETURN (ITR)
❌ Earlier: 31 October 2026
✅ Extended: 21 November 2026

💡 Important:
👉 21 October 2026 = Tax Audit Report Due Date
👉 21 November 2026 = ITR Due Date

⚠️ Don't confuse the two dates!

Use the additional time to complete:
✔️ Books reconciliation
✔️ GST & TDS reconciliation
✔️ AIS / TIS / 26AS verification
✔️ Form 3CD disclosures
✔️ Tax Audit Report
✔️ ITR filing

📲 Follow NS Tax Consultancy- Undri for Tax & Compliance Updates.

NS Tax Consultancy – Undri

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28/09/2026

🚨 TAX AUDIT MISSED? ₹75,000 PENALTY?

FY 2025–26 | AY 2026–27

Many taxpayers believe that missing the tax-audit deadline automatically means a ₹75,000 penalty.

👉 But what is the actual law?

📌 Section 271B – Penalty for failure to get accounts audited

Penalty = 0.5% of Total Turnover / Gross Receipts
OR
₹1,50,000
➡️ Whichever is LOWER

🔹 Example:
Turnover = ₹1.50 Crore
0.5% × ₹1.50 Crore = ₹75,000

⚠️ But ₹75,000 is NOT an automatic fixed penalty!

The Assessing Officer may direct levy of penalty under Section 271B.

✅ Section 273B – Reasonable Cause

If the assessee proves that there was a reasonable cause for the failure, penalty under Section 271B may not be imposed.

📢 REALITY CHECK:
❌ “Audit missed = automatic ₹75,000 penalty” → Not correct
✅ Penalty is calculated under Section 271B based on turnover/gross receipts, subject to the statutory ceiling.
✅ Reasonable cause under Section 273B can be an important defence.

📅 Tax Audit Due Date for FY 2025–26:
30 September 2026 for regular audit cases.

📌 Don't wait for a penalty notice. Complete the audit and compliance at the earliest.

NS Tax Consultancy – Undri
📲 NS Tax Consultancy- Undri

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28/09/2026

📌 AOC-4 Filing for One Person Company (OPC)

Is your OPC required to file AOC-4 with ROC? Don’t miss the deadline! ⚠️

🗓️ Due Date:
AOC-4 must generally be filed within 30 days from the date of adoption of financial statements.

💰 Late Filing Consequences:
🔹 Additional ROC filing fees may apply
🔹 Penalty under Section 137(3): ₹1,000 per day for continuing default
🔹 Maximum penalty can go up to ₹10 lakh

👉 Timely ROC compliance helps avoid unnecessary additional costs and penalties.

📲 For Company & Tax Compliance Assistance
NS Tax Consultancy – Undri
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26/09/2026

🏦 BANKS MAY FACE DISRUPTION IN SEPTEMBER 2026! 🚨

Bank employees’ unions have called a 3-day nationwide strike from 28th to 30th September 2026. This comes after the earlier strike on 11th September.

📅 Important Dates
• 26 Sept – Saturday holiday
• 27 Sept – Sunday — PSBs & RRBs are being kept open as a special arrangement
• 28–30 Sept – Nationwide Bank Strike

⚠️ Services that may be affected
• Branch-based cash transactions
• Cheque clearing & settlements
• Other physical banking services

📱 Digital banking, UPI and online services are expected to continue, although customers should plan important branch transactions in advance. Private-sector banks are expected to be less affected.

💡 Tip: If you have any important banking work, cheque deposit, cash transaction or account-related work, complete it before the strike dates.

📌 Follow NS Tax Consultancy- Undri for Tax, GST, Banking & Finance Updates.

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24/09/2026

🚨 NEW FD RULES FROM 1 OCTOBER 2026! 🏦

The RBI has introduced changes relating to bulk term deposits of ₹3 crore and above, effective from 1 October 2026.

🔹 ₹3 Cr+ term deposits will be treated as bulk deposits
🔹 Banks will disclose bulk-deposit interest rates daily
🔹 Rates for similar deposits accepted on the same date will be uniform across branches
🔹 Banks may offer differential rates based on applicable liquidity requirements
🔹 Retail FDs below ₹3 crore have limited direct impact from these particular changes

📌 Effective: 1 October 2026
📌 Issued by RBI on 30 July 2026

💡 If you have a large FD or are planning one, check the applicable rate and terms before investing.

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📲 NS Tax Consultancy- Undri

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23/09/2026

💰 HOW HUF CAN HELP IN TAX PLANNING?

Creating a Hindu Undivided Family (HUF) can create a separate tax identity and may help in legally structuring family income.

1️⃣ Separate Tax Identity

An HUF is treated as a separate assessee for income-tax purposes.

👉 Income genuinely belonging to the HUF can be assessed in the HUF’s PAN/ITR, separate from the individual member’s income.

2️⃣ Additional Deduction Opportunity

An eligible HUF can claim deductions such as Section 80C up to ₹1,50,000 under the applicable tax regime.

👉 This is separate from the eligible 80C deduction available to an individual.

⚠️ The benefit depends on the applicable tax regime and the nature/source of the HUF’s income.

3️⃣ Build a Separate Investment & Property Portfolio

Subject to proper ownership and HUF-law requirements, HUF assets can generate income such as:

🏠 Rental income from HUF-owned property
📈 Capital gains from HUF investments
💰 Interest / other income belonging to the HUF

This can help in legally separating family/HUF income from an individual’s personal income.

⚠️ IMPORTANT

You cannot simply transfer your personal salary, rental income or investments to an HUF to avoid tax.

Salary earned by a member from employment remains the member’s income. Similarly, transfer of personal assets to HUF can have clubbing and tax implications.

📌 Create HUF with proper documentation + genuine HUF assets + proper books & ITR filing.

Save this post & share it with someone planning their tax structure.

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Address

Office No: 233, 2nd Floor, Above Pune Electronics, Opp To Star Bazaar, VTP Tradepark, Undri-Pisoli Road, Near Undri Chowk, Undri, Pune/411060
Pune
411060

Opening Hours

Monday 11am - 6pm
Tuesday 11am - 6pm
Wednesday 11am - 6pm
Thursday 11am - 6pm
Friday 11am - 6pm
Saturday 11am - 6pm

Telephone

+919913954249

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