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FCA Amit Agrawal (LLB, DISA, MBA, CS-I) | Founder & Principal @ Amit Siddhi & Associates. Expert in AI-Powered Finance, GST, Income Tax, ROC & Bank Audit.

Helping businesses with Smart Compliance & Strategic Advisory.Dedicated to Expert-Led Implementation

07/10/2026

🚨 GSTAT Reply Filing SOP for Respondents: Complete Step-by-Step Process
GSTAT has made available an SOP explaining how respondents can electronically file replies against appeals through the GSTAT e-filing portal.
The process covers:
✅ Accessing Respondent Corner
✅ Searching and verifying the correct case
✅ Selecting the respondent
✅ Uploading reply, supporting documents & annexures
✅ Completing the applicable e-sign process
✅ Reviewing and submitting the reply
✅ Generating and preserving the filing receipt
📅 General statutory period: A respondent may file the reply within one month from receipt of the petition or application, subject to the applicable Rules and any direction issued by the Tribunal.
⚠️ Do not rely only on an upload or draft status. Complete final submission and preserve the filing receipt as evidence of electronic filing.
The SOP should be read along with the GSTAT (Procedure) Rules, 2025, the relevant case notice and Tribunal directions.
📍 GSTAT compliance assistance available in Delhi NCR, Ghaziabad, Noida, Vaishali & Indirapuram.
Need assistance with GSTAT reply filing? Contact now for professional assistance.
👉 More details: https://caamitaagrawal.com/blog/gst-at-sop-respondents-file-replies-against-appeals

06/10/2026

CBDT UPDATE: Registration Deadline Extended to 31 March 2027
CBDT has issued Notification No. 120/2026 dated 17 September 2026 under the Income-tax (Fourth Amendment) Rules, 2026.
Key updates:
✅ Registration deadlines under Rules 246 and 256 extended from 30 September 2026 to 31 March 2027
✅ Form 169 substituted for valuer registration
✅ Form 171 substituted for authorised income-tax practitioner registration
✅ Changes also introduced regarding electronic communication
This update is particularly relevant for valuers, authorised income-tax practitioners, CAs and eligible tax professionals.
The extension provides additional compliance time, but the underlying registration and eligibility requirements continue to apply.
📍 Available in Delhi NCR, Ghaziabad, Noida, Vaishali & Indirapuram.
Need assistance with registration, documentation or tax compliance? Contact now for assistance.
👉 More details: https://caamitaagrawal.com/blog/cbdt-income-tax-rules-2026-form-169-form-171-registration-deadline-31-march-2027

02/10/2026

Bombay High Court Clarifies Proportionate Land Rights of Housing Societies Under MOFA
The Bombay High Court’s September 2026 ruling provides important guidance on proportionate land rights in multi-building housing layouts under MOFA.
Key points:
• Conveyance cannot be postponed indefinitely.
• Proportionate land entitlement may crystallise when the statutory conveyance period expires.
• Later TDR or incentive FSI cannot automatically reduce accrued rights.
• Proper disclosure and written consent are important where later development affects existing rights.
• Deemed conveyance under Section 11 of MOFA remains relevant where voluntary conveyance is not completed.
The ruling is particularly relevant for housing societies and flat purchasers dealing with delayed conveyance, revised layouts, TDR and incentive FSI.
Available for professional assistance in Delhi NCR, Ghaziabad, Noida, Vaishali & Indirapuram.
Contact now for assistance.
👉 More details: https://caamitaagrawal.com/blog/bombay-high-court-proportionate-land-rights-housing-societies-mofa-tdr-fsi

01/10/2026

FAST-DS 2026: Foreign Asset Disclosure Scheme
Have you missed reporting a foreign bank account, shares, ESOPs/RSUs, insurance policy, securities or other eligible foreign asset in your income-tax return?
FAST-DS 2026 provides a one-time disclosure mechanism for eligible taxpayers, subject to prescribed conditions.
📌 Key points:
• Declaration deadline: 31 December 2026
• ₹1 crore category: 30% tax + 100% additional amount = 60% total
• Certain ₹5 crore category cases: ₹1 lakh fixed fee
• Valuation reference: 31 March 2026
• Payment process includes ITNS 289
• Immunity may apply subject to conditions and exclusions
Before making a declaration, review residential status, source of funds, previous returns, Schedule FA, valuation and prior proceedings.
📍 Available for professional assistance in Delhi NCR, Ghaziabad, Noida, Vaishali & Indirapuram.
Contact now for assistance.
👉 More details: https://caamitaagrawal.com/blog/fast-ds-2026-foreign-asset-disclosure-scheme-india

30/09/2026

TDS on Property Purchase From Non-Resident Seller: New Schedule E in Form 141 From 1 October 2026
A new TDS reporting requirement is coming into effect from 1 October 2026.
Resident Individuals and HUFs purchasing immovable property from a non-resident seller will need to report applicable TDS details through the newly introduced Schedule E of Form 141.
What will Schedule E capture?
✔ Property address and type
✔ Details of all buyers and sellers
✔ Non-resident seller's prescribed overseas identification details
✔ Agreement and registration details
✔ Stamp Duty Value and sale consideration
✔ Lump-sum or instalment payment details
✔ Applicable TDS rate and amount
✔ Date of payment/credit and deduction
✔ Relevant certificate details, where applicable
Important: Schedule B continues for applicable transactions involving resident sellers.
Buyers should identify the seller's residential status and collect the required information before the payment or credit event.
If you are purchasing property from a non-resident seller, plan your TDS compliance in advance.
Available in Delhi NCR, Ghaziabad, Noida, Vaishali & Indirapuram.
Contact now for assistance.
👉 More details: https://caamitaagrawal.com/blog/tds-property-purchase-non-resident-seller-schedule-e-form-141-2026

25/09/2026

CBDT Removes Arrest & Detention from Rule 225: What Taxpayers Need to Know
CBDT Notification No. 120/2026 dated 17 September 2026 amends Rule 225 of the Income-tax Rules, 2026.
The specified provisions relating to arrest and detention as a tax recovery mechanism have been removed, with the amendments under rules 2 to 4 deemed effective from 1 April 2026.
However, this does not mean outstanding tax arrears are cancelled.
Other recovery mechanisms, including attachment and sale of movable or immovable property, continue to apply.
If you have an outstanding income-tax demand, it is important to:
✔ Check the demand and assessment details
✔ Verify tax payments, TDS/TCS and records
✔ Identify whether the demand is disputed
✔ Respond to recovery communications
✔ Maintain proper documentation
Available in Delhi NCR, Ghaziabad, Noida, Vaishali & Indirapuram.
Looking for an Income Tax consultant near me? Contact now for assistance.
👉 More details: https://caamitaagrawal.com/blog/cbdt-rule-225-arrest-detention-tax-recovery-amendment-2026

24/09/2026

RBI Clarifies NBFC Principal Business Rules: What Companies and CICs Need to Know
The RBI’s principal-business framework is again in focus, especially for companies involved in lending, investments, group financing and holding-company activities.
Key points to understand:
✅ 50:50 Test:
Both conditions must be satisfied:
• Financial assets > 50% of total assets after netting off intangible assets
• Income from financial assets > 50% of gross income
✅ CIC Conditions:
Group-company investments, equity investment, minimum asset size, permitted activities and funding sources need to be reviewed.
✅ Public Funds:
Public funds are broader than public deposits and may include bank finance, inter-corporate deposits, commercial paper and debentures.
✅ Compliance Review:
Companies should assess their assets, income, investments, funding sources and RBI registration requirements.
The 50:50 test is not a newly introduced rule; RBI traces the principal-business test to April 8, 1999.
Available for professional compliance assistance in Delhi NCR, Ghaziabad, Noida, Vaishali & Indirapuram.
Contact now for assistance.
👉 More details: https://caamitaagrawal.com/blog/rbi-nbfc-principal-business-test-cic-rules

05/09/2026

Form ADT-1 for First Auditor – Mandatory Compliance or a Matter of Prudence?
Is Form ADT-1 mandatory when the first auditor is appointed by the Board?
Section 139(6) separately governs the first auditor of a non-Government company. The verified position discussed in this article does not expressly prescribe ADT-1 filing for such Board appointments.
However, from 14 July 2025, the revised ADT-1 specifically includes an option for reporting the “First Auditor by Board/Members”. Therefore, for appointments made on or after 14 July 2025, filing ADT-1 is considered the safer and prudent compliance approach, pending MCA clarification.
Key points:
• First auditor: Board appointment within 30 days of incorporation
• Revised ADT-1 effective: 14 July 2025
• Section 139(6): governs first auditor appointment
• Maintain Board resolution, consent and eligibility records
• Monitor future MCA clarification
Available in Delhi NCR, Ghaziabad, Noida, Vaishali & Indirapuram.
Looking for a Company registration consultant near me or professional compliance support? Contact now for assistance.
👉 More details: https://caamitaagrawal.com/blog/form-adt-1-first-auditor-mandatory-prudence-2026

31/08/2026

Beneficiary’s Share of Trust Loss: ITAT Says “Compute Trust Income First”
Can a beneficiary directly claim a share of trust loss in an individual ITR?
The Hyderabad ITAT, in Dy. CIT, Circle 3(1), Hyderabad vs. Indira Kamineni, ITA No. 2445/Hyd/2025, order dated 3 July 2026, held that a beneficiary cannot automatically claim a self-computed share of trust loss.
The trust’s income or loss must first be computed and determined under the Income-tax Act. Only then can the beneficiary’s corresponding share be considered.
Key takeaway:
✔ Determine the trust’s income/loss first
✔ Apply applicable tax provisions and restrictions
✔ Then consider the beneficiary’s share
✔ Keep trust and beneficiary ITR positions consistent
The matter was restored to the Assessing Officer for fresh examination.
If you are dealing with a determinate trust, beneficiary ITR or trust-loss claim, professional tax review can help avoid compliance issues.
Available in Delhi NCR, Ghaziabad, Noida, Vaishali, Indirapuram & Vasundhra.
Contact now for assistance.
👉 More details: https://caamitaagrawal.com/blog/beneficiary-share-trust-loss-itat-indira-kamineni

26/08/2026

🚨 GSTAT Ruling: ITC Mismatch or Excess ITC ≠ Automatic Fraud
A GST ITC mismatch between GSTR-2A and GSTR-3B does not, by itself, establish fraud, wilful misstatement or suppression under Section 74 of the CGST Act.
In M/s. Santhome Latex Enterprises v. The Commissioner of CGST, GSTAT, Thiruvananthapuram Bench, held that Section 74 cannot be invoked mechanically. The Department must establish tangible evidence of fraud, wilful misstatement or deliberate suppression with intent to evade tax.
Key takeaways:
• ITC mismatch alone is not proof of fraud
• Excess self-assessed ITC does not automatically mean suppression
• Portal disclosures and reconciliations can support the taxpayer's position
• Non-response to audit cannot automatically be treated as suppression
• New grounds at the appellate stage can raise natural justice concerns
If you receive a Section 74 SCN, carefully examine the allegations, ITC reconciliation, disclosures and legal basis.
Available in Delhi NCR, Ghaziabad, Noida, Vaishali & Indirapuram.
Contact now for assistance with GST notices and compliance matters.
👉 More details: https://caamitaagrawal.com/blog/gstat-ruling-itc-mismatch-section-74-suppression-fraud

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Ghaziabad
201014

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Monday	10:30am - 7:30pm
Tuesday	10:30am - 7:30pm
Wednesday	10:30am - 7:30pm
Thursday	10:30am - 7:30pm
Friday	10:30am - 7:30pm
Saturday	10:30am - 7:30pm

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