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Monday 10am - 9:30pm Tuesday 10am - 9:30pm Wednesday 10am - 9:30pm Thursday 10am - 9:30pm Friday 10am - 9:30pm Saturday 10am - 9:30pm

Ashif Islam & Associates, 11A, Topsia Road, KOLKATA (2026)

23/09/2026

TODAY'S ACCOUNTING UPDATE

Accounting 2.0: Financial Statements Need More Than Just Bookkeeping

Many business owners think accounting means simply recording sales, purchases and expenses.

But proper financial reporting goes much further.

From accounting periods beginning 1 April 2026, ICAI's Guidance Notes on Financial Statements of Non-Corporate Entities and LLPs apply to all such entities under the second phase.

What should businesses focus on?

✅ Proper classification of assets & liabilities
✅ Accurate revenue and expense recognition
✅ Receivables & payables reconciliation
✅ Inventory records and valuation
✅ Fixed assets & depreciation
✅ Bank and ledger reconciliation
✅ Proper disclosures in financial statements
✅ Consistent accounting policies

Learning Point

A Trial Balance can balance and the accounts can still be wrong.

Good accounting means your:

Books → Ledgers → Trial Balance → Financial Statements → Supporting Documents

should all tell the same financial story.

🎯 Professional Tip

Don't wait until year-end to discover accounting errors.

Monthly bookkeeping + regular reconciliation + proper documentation = better financial control.

At Ashif Islam & Associates, we assist businesses with:

📊 Accounting & Bookkeeping
GST Compliance
TDS/TCS Compliance
Income Tax & ITR
Financial Statement Preparation
Business Compliance

📞 6289189056
📧 [email protected]
🌐 www.aiaassociates.in⁠�
📍 Kolkata | Serving Clients Across India

Ashif Islam & Associates
Your Growth, Our Commitment.

11/09/2026

𝗧𝗗𝗦 𝟮.𝟬: 𝗖𝗼𝗿𝗿𝗲𝗰𝘁𝗶𝗼𝗻 𝗙𝗮𝗰𝗶𝗹𝗶𝘁𝘆 𝗳𝗼𝗿 𝗧𝗮𝘅 𝗬𝗲𝗮𝗿 𝟮𝟬𝟮𝟲–𝟮𝟳 𝗜𝘀 𝗡𝗼𝘄 𝗘𝗻𝗮𝗯𝗹𝗲𝗱

Made a TDS/TCS mistake?
Don't simply ignore it.

The Income Tax Department has now enabled TDS/TCS correction statements for Tax Year 2026–27 on the e-Filing portal.

𝗪𝗵𝗮𝘁 𝘀𝗵𝗼𝘂𝗹𝗱 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 𝗿𝗲𝘃𝗶𝗲𝘄?

✅ Deductee PAN/details
✅ TDS/TCS amount reported
✅ Challan details
✅ Date of deduction/payment
✅ Nature of payment
✅ Tax deposited with the Government
✅ TDS/TCS credit appearing correctly
✅ Errors or mismatches in previously filed statements

𝗣𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝗧𝗶𝗽

𝗧𝗗𝗦 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗱𝗼𝗲𝘀𝗻'𝘁 𝗲𝗻𝗱 𝗮𝗳𝘁𝗲𝗿 𝗳𝗶𝗹𝗶𝗻𝗴 𝘁𝗵𝗲 𝗿𝗲𝘁𝘂𝗿𝗻.

A good compliance system should follow:

𝗗𝗲𝗱𝘂𝗰𝘁 → 𝗗𝗲𝗽𝗼𝘀𝗶𝘁 → 𝗙𝗶𝗹𝗲 → 𝗥𝗲𝗰𝗼𝗻𝗰𝗶𝗹𝗲 → 𝗖𝗼𝗿𝗿𝗲𝗰𝘁, 𝗶𝗳 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗱

Regular reconciliation between your books, TDS returns, challans and tax credits can help identify errors before they become bigger compliance issues.

𝗬𝗼𝘂𝗿 𝗰𝗼𝗺𝗽𝗹𝗲𝘁𝗲 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗺𝗮𝘁𝘁𝗲𝗿𝘀

𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 + 𝗚𝗦𝗧 + 𝗧𝗗𝗦/𝗧𝗖𝗦 + 𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗮𝘅 = 𝗕𝗲𝘁𝘁𝗲𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲.

At 𝗔𝘀𝗵𝗶𝗳 𝗜𝘀𝗹𝗮𝗺 & 𝗔𝘀𝘀𝗼𝗰𝗶𝗮𝘁𝗲𝘀, we help businesses manage their accounting and compliance requirements with a practical, organised approach.

📞 𝗖𝗮𝗹𝗹/𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽: 𝟲𝟮𝟴𝟵𝟭𝟴𝟵𝟬𝟱𝟲
📧 𝗮𝘀𝗵𝗶𝗳.𝗶𝘀𝗹𝗮𝗺𝟬𝟴@𝗴𝗺𝗮𝗶𝗹.𝗰𝗼𝗺
🌐 𝘄𝘄𝘄.𝗮𝗶𝗮𝗮𝘀𝘀𝗼𝗰𝗶𝗮𝘁𝗲𝘀.𝗶𝗻⁠�
📍 𝗞𝗼𝗹𝗸𝗮𝘁𝗮 | 𝗦𝗲𝗿𝘃𝗶𝗻𝗴 𝗖𝗹𝗶𝗲𝗻𝘁𝘀 𝗔𝗰𝗿𝗼𝘀𝘀 𝗜𝗻𝗱𝗶𝗮

𝗔𝘀𝗵𝗶𝗳 𝗜𝘀𝗹𝗮𝗺 & 𝗔𝘀𝘀𝗼𝗰𝗶𝗮𝘁𝗲𝘀
Your Growth, Our Commitment.

07/09/2026

**GST Compliance: Don't Rely Only on GSTR-2B**

Many businesses believe that whatever appears in GSTR-2B is automatically safe to claim as ITC. That's not the right approach.

GSTN's Invoice Management System (IMS) allows recipients to review supplier-reported invoices and take actions such as Accept, Reject or Pending. GSTN also introduced an IMS Offline Tool in April 2026 to make invoice review easier. �

**What should you actually reconcile?**

Purchase Register ↔ IMS ↔ GSTR-2B ↔ Books of Accounts

Before claiming ITC, check:

✅ Supplier GSTIN
✅ Invoice number & date
✅ Taxable value & GST amount
✅ Whether the invoice relates to your business
✅ Duplicate invoices
✅ Credit/Debit Notes
✅ ITC already claimed or reversed
✅ Missing invoices from suppliers

** Professional Tip**

GSTR-2B is an important source of information, but your accounting records and actual business transactions also matter.

Good GST compliance means your books, invoices, GST returns and ITC records tell the same story.

**Compliance is connected**

Accounting → GST → TDS → Income Tax → Business Compliance

Don't manage them separately. Build one properly reconciled financial record.

Ashif Islam & Associates
Your Growth, Our Commitment.

📞 6289189056
📧 [email protected]
🌐 www.aiaassociates.in⁠�
📍 Kolkata | Serving Clients Across India

28/08/2026

Latest Compliance Update: Tax Audit Format Is Changing

The Income Tax Department has clarified an important transition point:

For FY 2025–26 / AY 2026–27, tax audit reports continue to use Form 3CA / 3CB / 3CD under the Income-tax Act, 1961.

But for Tax Year 2026–27 onwards, the new Form No. 26 will replace and consolidate Forms 3CA, 3CB and 3CD into a single tax-audit report. The new form also introduces structured schedules and mandatory auditor details such as membership number, firm registration number and UDIN.

🧾 What should businesses do now?

✅ Keep books of accounts updated
✅ Reconcile GST turnover with books
✅ Reconcile TDS/TCS with accounting records
✅ Review depreciation and fixed assets
✅ Maintain proper supporting documents
✅ Start preparing for the new reporting structure

💡 Professional Tip

Don't wait until the audit season to organise your accounts.

Good accounting today makes GST, TDS, Income Tax and Tax Audit much easier tomorrow.

At Ashif Islam & Associates, we assist businesses with:

✔ Accounting & Bookkeeping
✔ GST Compliance
✔ TDS/TCS Compliance
✔ Income Tax & ITR Filing
✔ Tax Audit Support
✔ Business & ROC Compliance

📞 Call/WhatsApp: 6289189056
📧 [email protected]
🌐 www.aiaassociates.in
📍 Kolkata | Serving Clients Across India

Ashif Islam & Associates
Your Growth, Our Commitment.

24/08/2026

🚨 LATEST TDS UPDATE 2026 | Don't Use the Wrong TDS Rules

With the new Income-tax Act, 2025 now applicable, businesses need to be careful when handling TDS for transactions around the transition period.

💡 The key rule:

The TDS provisions applicable to a transaction depend on the earlier of the date of credit or payment:

🔹 If the earlier event happened on or before 31 March 2026 → Income-tax Act, 1961 applies.

🔹 If the earlier event happened on or after 1 April 2026 → Income-tax Act, 2025 applies.

This is especially important when dealing with old transactions, corrections, outstanding payments and TDS returns.

✅ What should businesses do?

✔ Review old & current TDS transactions
✔ Check the actual credit/payment date
✔ Use the correct applicable provisions
✔ Reconcile TDS with books and challans
✔ Verify TDS returns and tax credits
✔ Keep proper supporting records

Professional Tip: Don't decide the applicable TDS provision only by the date you are filing the return. First check when the credit or payment actually occurred.

At Ashif Islam & Associates, we assist businesses with TDS/TCS, GST, Accounting, Income Tax and overall Business Compliance.

📞 Call/WhatsApp: 6289189056
📧 [email protected]
🌐 www.aiaassociates.in
📍 Kolkata | Serving Clients Across India

Ashif Islam & Associates
Your Growth, Our Commitment.

21/08/2026

🚨 LATEST TAX UPDATE | ITR-6 AY 2026-27

A new update is now available for companies filing Income Tax Return – ITR-6.

The Income Tax Department has made the offline utility of ITR-6 for AY 2026-27 available from 20 August 2026. The online filing facility was already enabled from 18 August 2026.

💡 What should companies do now?

Before filing, don't simply upload the return. Review your complete accounts and tax data:

✅ Finalise Books of Accounts
✅ Reconcile Bank & Ledger balances
✅ Verify TDS/TCS credits
✅ Check AIS & Form 26AS
✅ Review GST turnover with books
✅ Reconcile ITC and GST records
✅ Verify depreciation & fixed assets
✅ Review related-party transactions
✅ Check tax computation before filing

📌 Remember

Income Tax compliance doesn't work in isolation.

Your Accounting + GST + TDS + Income Tax records should tell the same story.

A proper reconciliation before filing can help identify mismatches early and reduce unnecessary compliance issues.

Need professional support?

✔ Income Tax & ITR Filing
✔ GST Compliance
✔ TDS/TCS Compliance
✔ Accounting & Bookkeeping
✔ Business & ROC Compliance

📞 Call/WhatsApp: 6289189056
📧 [email protected]
🌐 www.aiaassociates.in
📍 Kolkata | Serving Clients Across India

Ashif Islam & Associates
Your Growth, Our Commitment.

19/08/2026

🚨 TDS 2.0 — BIG COMPLIANCE UPDATE

TRACES 2.0 + New Income-Tax Act Framework

From 1 April 2026, the TDS framework has moved into the new Income-tax Act, 2025.

But what does this mean for businesses?

🔹 WHAT'S NEW?

✅ TDS provisions reorganised
Salary TDS is covered under Section 392, while TDS on other specified payments is covered under Section 393.

✅ TRACES upgraded
The new TRACES 2.0 platform provides an updated environment for TDS/TCS compliance.

✅ Old + New TDS formats during transition
Returns relating to periods up to March 2026 continue under the old framework, while periods from April 2026 follow the new framework.

✅ TDS reconciliation remains critical
Deduction → Payment → Return → TDS Certificate → Form 26AS/TDS credit should all match.

💡 BUSINESS TIP

Don't simply change the section number in your accounting software.

Before processing TDS, businesses should review:

Nature of Payment → Applicable Provision → Threshold → Rate → Deduction → Deposit → Return → Reconciliation

⚠️ Important: A correction relating to a pre-April 2026 TDS period continues to be governed by the old Act/framework, even when the correction is filed after 1 April 2026.

📌 WHAT SHOULD BUSINESSES DO NOW?

✔ Update accounting/payroll software
✔ Review TDS applicability for each payment type
✔ Reconcile TDS ledgers with challans
✔ Verify deductee PAN/details
✔ Check TDS credits and certificates
✔ Review TDS returns before submission

NEED PROFESSIONAL TDS & TAX COMPLIANCE SUPPORT?

✔ TDS/TCS Compliance
✔ TDS Return Filing & Reconciliation
✔ Accounting & Bookkeeping
✔ GST Compliance
✔ Income Tax Services
✔ Business Compliance

📞 Call / WhatsApp: 6289189056
📧 [email protected]
🌐 www.aiaassociates.in
📍 Kolkata | Serving Clients Across India

Ashif Islam & Associates
Your Growth, Our Commitment.

12/08/2026

🚨 GST COMPLIANCE 2.0

New e-Invoice & e-Way Bill System Changes Are Now Live

From 1 August 2026, GSTN has introduced important changes in the e-Invoice and e-Way Bill ecosystem.

🔹 What has changed?

✅ Ship-to GSTIN validation has been strengthened where ship-to details are provided.

✅ Additional GSTIN, State Code & PIN Code validations apply in relevant transactions.

✅ New functionality for voluntary closure of an e-Way Bill has been introduced after delivery.

✅ Businesses using ERP / accounting software should ensure their systems are updated and properly tested.

💡 BUSINESS TIP

Don't treat GST compliance as just return filing.

Your complete GST process should connect:

Sales → Invoice → e-Invoice → E-Way Bill → GSTR-1 → GSTR-3B → ITC Reconciliation

A mismatch at any stage can create unnecessary compliance issues.

📌 What should businesses do now?

Review your GST billing process.
Check your ERP/software configuration.
Verify Ship-to details.
Reconcile GST data regularly.

Need help with GST & Business Compliance?

✔ GST Registration & Return Filing
✔ GST Reconciliation & ITC Review
✔ e-Invoice & E-Way Bill Compliance
✔ TDS/TCS Compliance
✔ Accounting & Bookkeeping
✔ Income Tax & Business Compliance

📞 Call / WhatsApp: 6289189056
📧 [email protected]
🌐 www.aiaassociates.in
📍 Kolkata | Serving Clients Across India

Ashif Islam & Associates
Your Growth, Our Commitment.

27/07/2026

📊 Is Your Business Really Making a Profit?

Many business owners assume that a healthy bank balance means a profitable business. In reality, cash in the bank and actual profit are not the same.

Your true business profit depends on several factors, including:
✅ Sales & Revenue
✅ Business Expenses
✅ Outstanding Receivables & Payables
✅ Inventory Management
✅ Depreciation
✅ Tax Adjustments

Maintaining accurate books of accounts helps you understand your business performance, improve cash flow, make informed decisions, and stay compliant with tax regulations.

💡 Expert Tip:
Good accounting is not just about compliance—it's the foundation of better business decisions and sustainable growth.

If you need professional assistance with: ✔ Accounting & Bookkeeping

✔ GST Compliance
✔ Income Tax Return Filing
✔ TDS Compliance
✔ ROC & Business Compliance
✔ Business Advisory
We're here to help.
📞 Call/WhatsApp: 6289189056
📧 [email protected]
🌐 www.aiaassociates.in⁠�
📍 Kolkata | Serving Clients Across India
Ashif Islam & Associates
Your Growth, Our Commitment.

24/07/2026

📢 ITR Season is On – Is Your Business Compliance Up to Date?

Running a business isn't just about earning profits—it's also about staying compliant.

Complete Your Business Compliance Checklist:

✅ File your Income Tax Return (ITR) on time
✅ File GST Returns without delay
✅ Reconcile Purchase & Sales Records
✅ Maintain Proper Books of Accounts
✅ Deposit TDS & File TDS Returns on time
✅ Keep all business documents organised

💡 Smart Tip: Timely compliance helps you avoid penalties, notices, and last-minute stress while building a trustworthy business.

Need Professional Assistance?

✔ Income Tax Return Filing
✔ GST Registration & Return Filing
✔ Accounting & Bookkeeping
✔ TDS/TCS Compliance
✔ ROC & Business Compliance

📞 Call/WhatsApp: 6289189056
📧 [email protected]
🌐 www.aiaassociates.in⁠�
📍 Kolkata | Serving Clients Across India

Ashif Islam & Associates
Your Growth, Our Commitment.

Ashif Islam & Associates

23/09/2026

11/09/2026

07/09/2026

28/08/2026

24/08/2026

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