CA Nima Gopan

LLP filing due date is 30th May 2026

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My attempt to explain Income Tax Act 2025.. 🙏

Relief under Sec 89(1) - Arrear salary etc - Old form 10E replaced to Form 39

MSME Form

Centre to amend the Foreign Contribution (Regulation) Act

Designated authority to manage, dispose assets created out of foreign funds; key functionaries of NGOs to be liable for offences under the FCRA

The Union government is likely to amend the Foreign Contribution (Regulation) Act in the ongoing session of Parliament session. One of the key changes proposed is the appointment of a “designated authority” to take over, manage or dispose of assets created out of foreign funds by an NGO or association, which has had its FCRA registration suspended, cancelled, or not renewed
Another proposed amendment is expanding the definition of “key functionary” of an NGO beyond an “office bearer/director” to include directors; partners; trustees; the karta (head) of a Hindu Undivided Family; office‑bearers or members of the governing body or managing committee of a society, trust, trade union or association; and any other person who has control over or responsibility for the management or affairs of such an organisation.
The amendment also proposes to make key functionaries liable for offences under the FCRA, unless they can provide evidence of lack of knowledge, or due diligence.

Registration under the FCRA is mandatory for a non-government organisation to receive foreign funds. Till now, the 2010 parent Act only had the provision to regulate the flow of foreign funds, and not the statutory framework to manage the assets created out of such funds.

The Foreign Contribution (Regulation) Amendment Bill, 2026 also proposes to amend Section 43 of the parent Act, which will require any law enforcement agency or State government to seek prior approval of the Central government for initiation of investigation into FCRA-related complaints.

The Statement of Objects and Reasons of the Bill circulated among members of Lok Sabha by Union Home Minister Amit Shah said that, at present, approximately 16,000 associations are registered under the FCRA and they receive around ₹22,000 crore annually.

(Copies from thehindu news)

*Big Relief from Ministry of Corporate Affairs !!!*

The Ministry of Corporate Affairs has launched a one-time amnesty scheme — Companies Compliance Facilitation Scheme, 2026 (CCFS-2026).
📅 Validity: 15 April 2026 to 15 July 2026
Key Highlights:
✅ File pending Annual Returns & Financial Statements by paying only 10% of additional fees
✅ Apply for Dormant Status (MSC-1) at 50% of normal fees
✅ Apply for Strike-off (STK-2) at 25% of filing fees
✅ Possible immunity from penalties under Sections 92 & 137 of the Companies Act, 2013 (subject to conditions)
❗ Not applicable to companies already under final strike-off proceedings, dissolved, amalgamated, or vanishing companies.
This is a great opportunity for defaulting companies to regularise compliance and avoid future litigation.
Review your compliance status on the MCA21 portal before the window opens.