What changed in 2025-26
- Income-tax Act 2025 replaced the 1961 Act from 1 April 2026. TDS moved to s.392 (salary), s.393 (everything else) and s.394 (TCS), reported with four-digit payment codes. Forms were renumbered. FY 2025-26 returns, the tax audit and SFT still use the old Act and forms.
- Higher TDS for non-filers (old 206AB and 206CCA) was omitted by the Finance Act 2025. The no-PAN higher rate continues.
- GST: GSTR-3B outward liability tables are locked and corrected only through GSTR-1A; IMS feeds input tax credit into GSTR-3B; returns become time-barred three years after their due date; e-invoices must reach the IRP within 30 days for AATO of ₹10 crore or more.
- FEMA Export and Import Regulations 2026 took effect on 1 October 2026: export realisation is nine months (twelve if invoiced in rupees), and import payments follow the contract. Read the full note.
- SEBI: Reg 23 related party rules now apply to SME companies with paid-up capital above ₹10 crore or net worth above ₹25 crore. Governance and financial filings moved to Integrated Filing.
- Companies Act: DIR-3 KYC is triennial from 31 March 2026 (next due 30 June 2028 for compliant directors); revised AOC-4 forms apply from FY 2024-25 filings.
- Labour Codes came into force on 21 November 2025.
Income-tax forms: new and old numbers
| Purpose | 2025 Act form | 1961 Act form |
|---|---|---|
| Tax audit report | Form 26 | 3CA / 3CB + 3CD |
| Transfer pricing report | Form 48 | 3CEB |
| MAT report | Form 66 | 29B |
| Salary TDS certificate | Form 130 | 16 |
| Non-salary TDS certificate | Form 131 | 16A |
| TCS certificate | Form 133 | 27D |
| TDS statement — salary | Form 138 | 24Q |
| TDS statement — residents | Form 140 | 26Q |
| TCS statement | Form 143 | 27EQ |
| TDS statement — non-residents | Form 144 | 27Q |
| Foreign remittance declaration | Form 145 | 15CA |
| CA certificate for remittance | Form 146 | 15CB |
| Statement of financial transactions | Form 165 | 61A |
Use the new number for tax year 2026-27 onwards. The tax audit for FY 2025-26 is still filed on 3CA/3CD.
TDS quick reference
- Deposit by the 7th of the next month; March deductions by 30 April. One challan can cover several payment codes.
- Statements on Forms 138, 140, 143 and 144 are due 31 July, 31 October, 31 January and 31 May. TCS statements now share these dates.
- Interest: 1% a month for late deduction, 1.5% a month for late deposit, each part month counted in full. Late filing fee ₹200 a day, capped at the tax.
- Full code list with rates and thresholds: TDS code finder.
GST quick reference
| Return | Due | Late fee per day | Cap |
|---|---|---|---|
| GSTR-1 | 11th | ₹50 (₹20 nil) | ₹2,000 / ₹5,000 / ₹10,000 by turnover; ₹500 nil |
| GSTR-3B | 20th | ₹50 (₹20 nil) | Same as GSTR-1 |
| GSTR-9 | 31 December | ₹50 / ₹100 / ₹200 by turnover | 0.04% of state turnover (0.5% above ₹20 cr) |
| ITC-04 | 25 Oct, 25 Apr | — | General penalty |
Interest is 18% a year on tax paid in cash after the due date. Tax set off from credit carries no interest. Calculator.
SEBI rules for SME-listed companies
| Item | SME position |
|---|---|
| Financial results (Reg 33) | Half-yearly within 45 days; annual within 60 days. Quarterly is optional. |
| Shareholding pattern (Reg 31) | Half-yearly within 21 days. |
| Related party transactions (Reg 23) | Applies above ₹10 cr paid-up or ₹25 cr net worth; material above ₹50 cr or 10% of turnover, whichever is lower. |
| Corporate governance (Regs 17–22, 24, 24A, 25–27) | Exempt under Reg 15(2). |
| Newspaper ads (Reg 47), BRSR | Exempt. |
| Board meeting intimation (Reg 29) | 2 working days. Outcome within 30 minutes (Reg 30). |
| SDD certificate (PIT) | Annual, within 60 days of FY end, from a practising CS. |
ROC calendar after the AGM
With an AGM on 30 September: ADT-1 by 15 October (if an auditor is appointed), AOC-4 with CSR-2 by 30 October, MGT-15 by 30 October (listed), MSME-1 by 31 October, MGT-7 with MGT-8 by 29 November, PAS-6 by 29 November for an unlisted public company.
FEMA trade timelines
| Transaction date | Export | INR-invoiced export | Import payment |
|---|---|---|---|
| 13 Nov 2025 – 4 Jun 2026 | 15 months | 15 months | 6 months from shipment |
| 5 Jun – 30 Sep 2026 | 9 months | 9 months | 6 months from shipment |
| From 1 Oct 2026 | 9 months | 12 months | As per contract |
Other FEMA filings: FLA return by 15 July, ECB-2 within 7 working days of month end, ODI APR by 31 December, FC-GPR within 30 days of allotment. Due-date calculator and batch tracker.
Labour Codes
The four Labour Codes came into force on 21 November 2025. PF and ESI still fall due on the 15th. The main finance impact is the wage definition: wages must be at least half of total remuneration, which raises the base for PF, ESI and gratuity. State rules and registers are still being rolled out, so confirm state filings with your payroll provider.
Official texts
The authoritative versions of every Act, rule and circular are free on the regulators' own sites.
| Material | Publisher |
|---|---|
| Income-tax Act 2025, Rules 2026, forms and FAQs | Income Tax Department |
| E-filing portal: returns, statements, challans | Income Tax Department |
| GST Acts, rules, notifications and circulars | CBIC |
| GST portal news, advisories and user manuals | GSTN |
| Companies Act, rules, e-forms and circulars | Ministry of Corporate Affairs |
| LODR, PIT, SAST regulations and master circulars | SEBI |
| Master Directions (FEMA, trade, ECB, ODI) | Reserve Bank of India |
| SME platform circulars and compliance calendar | NSE Emerge |
| PF: ECR, circulars and employer manuals | EPFO |
| ESI: contributions and employer portal | ESIC |