CA Devesh Thakur

Reconcile GSTR-2B with your Purchase Register using a free tool.
Watch here: https://youtu.be/1VTvNeweEMA

Skip the Carousel

1 2 3 4 5 6

57 minutes ago (edited) | [YT] | 5

CA Devesh Thakur

₹1 crore vs ₹10 crore—understand the Section 44AB Tax Audit limit for FY 2025-26. Watch now: https://youtu.be/ETsR2RzvtyY

🔔 Subscribe: ‪@cadeveshthakur‬

11 hours ago | [YT] | 20

CA Devesh Thakur

Should the Government extend the due date for Tax Audit Reports and audit-case ITRs? ‪@cadeveshthakur‬

1 day ago | [YT] | 6

CA Devesh Thakur

🚨 COMMENT “PROPERTY” BELOW TO GET THE FULL DETAILED PDF NOTES! 📩 ‪@cadeveshthakur‬

🏠 NEW TDS RULES ON PROPERTY PURCHASE FROM NON-RESIDENTS | NOTIFICATION NO. 121/2026

The CBDT has issued Notification No. 121/2026 dated 22 September 2026, introducing important amendments to the Income-tax Rules, 2026, effective 1 October 2026.

📌 WHAT YOU NEED TO KNOW:

✅ New Schedule E in Form 141 for reporting TDS on specified immovable property transactions.

✅ Additional reporting requirements for resident individuals and HUFs purchasing property from non-residents.

✅ Detailed buyer and seller information, including foreign tax identification details where applicable.

✅ Instalment-wise reporting of property payments and TDS particulars.

✅ Updated Forms 132 and 141 with revised reporting fields and instructions.

📚 WHY SHOULD YOU READ THIS?

Whether you are a CA, tax professional, property buyer or someone dealing with non-resident property transactions, understanding these amendments will help you prepare for the updated reporting requirements.

⚠️ IMPORTANT: This notification primarily changes the rules and forms for reporting. It does not itself announce a new TDS rate or threshold.

📩 WANT THE COMPLETE NOTES?

👇 COMMENT “PROPERTY” and get the detailed PDF notes covering:
🔹 All important amendments
🔹 New Schedule E explained
🔹 Reporting requirements
🔹 Practical compliance checklist
🔹 Illustrative example

📲 JOIN OUR WHATSAPP CHANNEL for regular updates on Income Tax, GST, ROC and other important compliance matters.

🔗 whatsapp.com/channel/0029Va6GOVE9MF92Ylmo7e0L

Follow CA Devesh Thakur for simplified tax and compliance updates.

#IncomeTax #TDS #TaxUpdates #PropertyPurchase #CADeveshThakur

1 day ago | [YT] | 25

CA Devesh Thakur

📊 New ICAI format: learn how to prepare a Balance Sheet directly from Trial Balance using Excel automation. Watch now: https://youtu.be/m6qVNSXr8sU

🔔 Subscribe: ‪@cadeveshthakur‬

1 day ago | [YT] | 33

CA Devesh Thakur

⚠️ Form 3CD का आखिरी साल—changes miss किए तो audit report गलत जा सकती है. Watch now: https://youtu.be/JxGRsqzumsU

🔔 Subscribe: ‪@cadeveshthakur‬

2 days ago | [YT] | 16

CA Devesh Thakur

New video is out: 55 common tax audit errors you must avoid before signing your report. Watch now: https://youtu.be/zrLJGeG8b7M

Subscribe for practical tax audit and compliance updates:‪@cadeveshthakur‬

3 days ago | [YT] | 23

CA Devesh Thakur

Check out New Video https://youtu.be/t3Erf2XD1yY

4 days ago | [YT] | 28

CA Devesh Thakur

Tax Audit Due-Date Extension Representation AY 2026-27

The Bhartiya Vaishya Global Foundation has submitted a representation to the CBDT seeking extension of the Tax Audit and audited ITR due dates.

What is being requested

• Tax Audit Reports under Section 44AB
30 September 2026 → 31 October 2026

• Other audit reports, including Forms 10B and 10BB
Extension from 30 September 2026

• Audited Income-tax Returns
31 October 2026 → 30 November 2026

The representation highlights genuine practical issues the new financial-statement format for non-corporate entities, late and repeatedly revised ITR utilities, a severely compressed audit window after the 31 August non-audit ITR deadline, MCA compliance work, festival disruptions, rain-related operational issues, portal errors, and overlapping GST, TDSTCS and advance-tax deadlines.

The request is not for waiver of taxes. It is for sufficient time to complete audits correctly and avoid rushed reporting, mismatches, notices and unnecessary litigation.

Important note disclaimer This is only a representation submitted to CBDT. No official extension has been announced yet. Taxpayers and professionals should continue preparing and filing compliances as per the currently applicable due dates unless an official order is issued.

Do you believe an extension is genuinely required this year Share your view in the comments.

#TaxAudit #TaxAuditExtension #IncomeTax #IncomeTaxReturn #TaxCompliance #Section44AB #Form3CD #CharteredAccountant #CAIndia #CBDT #ITRDeadline #TaxUpdates #CADeveshThakur

4 days ago | [YT] | 15

CA Devesh Thakur

**ITC vs Electronic Cash Ledger: why do you still need to pay cash when you have input tax credit?** ‪@cadeveshthakur‬

Think of GST as two pockets:

**Electronic Credit Ledger (ITC)** holds eligible input tax credit from purchases. You can use it to pay **output GST**, subject to the GST set-off rules. You cannot use ITC to pay interest, late fees or penalties.

**Electronic Cash Ledger** holds money deposited through a GST challan and GST TDS/TCS credits. Its balance can be used to pay GST, interest, late fees and penalties.

**Example:** Your output GST is ₹10,000 and you have ₹7,000 of usable ITC. You can pay ₹7,000 through the credit ledger and the remaining ₹3,000 through the cash ledger. If a ₹500 late fee is also due, that ₹500 must be paid through the **cash ledger**.

The rule to remember: **ITC pays output tax. Late fees, interest and penalties need cash ledger balance.**

Save this post for your next GSTR-3B filing, and tell me in the comments: which GST ledger causes more confusion for you?

— CA Devesh Thakur

#GST #InputTaxCredit #ElectronicCreditLedger #ElectronicCashLedger #GSTIndia #GSTR3B #GSTReturn #GSTCompliance #CADeveshThakur

4 days ago | [YT] | 48