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Knowledge & Alerts

Tax and GST Updates

Our analysis of recent statutory notifications, official circulars from the tax departments, and imminent due dates.

Our advisory notes on recent changes

Authored by our partners for clients, trade associations, and businesses across Karnataka.

Income taxFirm Advisory

CBDT extends AY 2026-27 due dates for audit cases

For taxpayers whose accounts must be audited (other than transfer pricing cases), the tax audit report is now due on 21 October 2026 instead of 30 September. The ITR is due on 21 November 2026 instead of 31 October.

Source: Income Tax Department

TDSFirm Advisory

Q2 TDS and TCS returns are due on 31 October 2026, in the new forms

Returns for July to September 2026 go in Form 138 (salary, was 24Q), Form 140 (non-salary payments to residents, was 26Q) and Form 143 (TCS, was 27EQ). Report payments under the section 393 table entries and payment codes. Old section numbers such as 194C or 194J no longer apply.

Source: Income Tax Department

Income taxFirm Advisory

ITR due dates are now staggered

From AY 2026-27, ITR-1 and ITR-2 stay due on 31 July. Business and profession cases without an audit (ITR-3 and ITR-4) are due on 31 August. A belated return for AY 2026-27 can be filed until 31 December 2026.

Source: Income Tax Department

Income taxFirm Advisory

The Income-tax Act, 2025 is in force from 1 April 2026

It replaces the 1961 Act and uses a single 'tax year'. TDS rules sit in sections 392 and 393. Many forms have new numbers: Form 26 replaces the tax audit Forms 3CA, 3CB and 3CD, and Forms 130 and 131 replace Forms 16 and 16A. Income up to 31 March 2026 stays under the 1961 Act.

Source: Income Tax Department

Company lawFirm Advisory

DIR-3 KYC is now due once every three years

From 31 March 2026, the yearly director KYC is replaced by Form DIR-3 KYC Web, filed once every three financial years by 30 June. Directors who already did KYC are next due on 30 June 2028. A change in mobile number, email or address must be updated within 30 days.

Source: Ministry of Corporate Affairs

Latest from official tax portals

Collected directly from gst.gov.in and incometaxindia.gov.in.

Income tax

CBDT extends AY 2026-27 due dates for audit cases

For taxpayers whose accounts must be audited (other than transfer pricing cases), the tax audit report is now due on 21 October 2026 instead of 30 September. The ITR is due on 21 November 2026 instead of 31 October.

Source: Department Portal

TDS

Q2 TDS and TCS returns are due on 31 October 2026, in the new forms

Returns for July to September 2026 go in Form 138 (salary, was 24Q), Form 140 (non-salary payments to residents, was 26Q) and Form 143 (TCS, was 27EQ). Report payments under the section 393 table entries and payment codes. Old section numbers such as 194C or 194J no longer apply.

Source: Department Portal

Income tax

ITR due dates are now staggered

From AY 2026-27, ITR-1 and ITR-2 stay due on 31 July. Business and profession cases without an audit (ITR-3 and ITR-4) are due on 31 August. A belated return for AY 2026-27 can be filed until 31 December 2026.

Source: Department Portal

Income tax

The Income-tax Act, 2025 is in force from 1 April 2026

It replaces the 1961 Act and uses a single 'tax year'. TDS rules sit in sections 392 and 393. Many forms have new numbers: Form 26 replaces the tax audit Forms 3CA, 3CB and 3CD, and Forms 130 and 131 replace Forms 16 and 16A. Income up to 31 March 2026 stays under the 1961 Act.

Source: Department Portal

Company law

DIR-3 KYC is now due once every three years

From 31 March 2026, the yearly director KYC is replaced by Form DIR-3 KYC Web, filed once every three financial years by 30 June. Directors who already did KYC are next due on 30 June 2028. A change in mobile number, email or address must be updated within 30 days.

Source: Department Portal

GST

Annual Returns in the form of GSTR-9/9C for FY 2025-26

Annual Returns in the form of GSTR-9/9C for FY 2025-26 have been enabled on the GST portal from 8th October 2026. Please ensure that all returns (GSTR 1 and GSTR 3B) for FY 2025-26 are filed to enable the tile of GSTR-9/9C.

Source: Department Portal

GST

Recommendations of the 57th GST Council Meeting, Key Reforms

The GST Council, in its 57th meeting held on 8 October 2026, recommended a series of reforms to simplify GST compliance, streamline registration and return filing, expedite refunds, and improve the flow of Input Tax Credit (ITC).

Source: Department Portal

GST

Advisory on use of version 3.3 of emSigner

This is an advance information to the all users, Taxpayers and Tax Officers, of GST System who use Digital Certificate Signature on the GST Portal.

Source: Department Portal

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