Kumar Akash & Associates

GST PORTAL MAJOR UPDATE: Additional Notices & Orders Tab has now been merged with Notices and orders Tab on GST Portal.

Also, Hyperlink to view Notices has been provided in Dashboard.

GSTN has operationalised the “Application for Unbarring Returns” module on the GST portal, providing an online mechanism to seek unblocking of barred GST returns.

Highlights

- New Income Tax Act, 2025 effective from 1 April 2026
- Simpler income tax forms to be notified soon

Revised ITR Filing Timelines

- ITR-1 & ITR-2: Due date 31 July
- Non-audit business & trusts: Due date 31 August
- Revised return filing allowed up to 31 March with nominal fee

Foreign Income & Asset Disclosure

- One-time 6-month foreign asset disclosure scheme
- Applicable to small taxpayers, students & NRIs
- Disclosure with immunity, subject to conditions

TCS Rationalisation

- TCS on overseas tour packages reduced from 5%/20% to 2%, no limit
- TCS on medical & education remittances reduced from 5% to 2%

TDS & Withholding Tax Changes

- TDS on property purchase from NRIs using PAN instead of TAN
- Supply of manpower services under Section 194C

- 🧾 Late Tax Audit Report submission treated as Late Fees ( 75,000 upto one month delay and 1,50,000 afterwards.)

Capital Markets

- STT on Futures: 0.02% → 0.05%
- STT on Option Premiums: 0.10% → 0.15%
- STT on Option Exercise: 0.125% → 0.15%

Kumar Akash & Associates is a well established firm of Chartered Accountants engaged in the field of Accounts, Audits, taxation, investment, Legal & Secretarial Services, Business Processing, Project Financing and other related fields.

We have a team of well experienced and motivated professionals. We not only provide our clients with business solutions under one roof but also regularly and timely upgrade their knowledge. We believe to stay ahead in the changing economy to provide our clients with the most consistent and prompt quality services such as outsource accounting services, payroll processing, tax consultancy and other accounting services.

We are dedicated to achieve the best possible solutions in the shortest period of time while handling each client's problem with perspective, integrity and dedication. The essence of our style of working is that we do not stop only with observations and inferences, but give solid recommendations. We ensure 100% Quality in each and every consultation to provide the full satisfaction by merging knowledge, experience and creativity.

We offer following chartered accountant services:

» Auditing
» Company and LLP
» Income Tax
» GST
» Import - Export Consultancy
» Financials Consultancy

Kumar Akash & Associates is a well established firm of Chartered Accountants engaged in the field of Accounts, Audits, taxation, investment, Legal & Secretarial Services, Business Processing, Project Financing and other related fields.

We have a team of well experienced and motivated professionals. We not only provide our clients with business solutions under one roof but also regularly and timely upgrade their knowledge. We believe to stay ahead in the changing economy to provide our clients with the most consistent and prompt quality services such as outsource accounting services, payroll processing, tax consultancy and other accounting services.

We are dedicated to achieve the best possible solutions in the shortest period of time while handling each client's problem with perspective, integrity and dedication. The essence of our style of working is that we do not stop only with observations and inferences, but give solid recommendations. We ensure 100% Quality in each and every consultation to provide the full satisfaction by merging knowledge, experience and creativity.

We offer following chartered accountant services:

» Auditing Services
» Corporate and LLP Services
» Income Tax Services
» Financial Services
» Import - Export Consultancy
» Sales Tax matters Consultancy
» Service tax matters Consultancy