Short, direct answers to common questions on income tax, GST, company law and NRI taxation. Each answer is general information and links to a fuller guide.
For individuals and others not liable to tax audit, the due date is generally 31 July after the end of the financial year. For taxpayers liable to tax audit, it is 31 October.
Taxpayers who must file a transfer pricing report have until 30 November. The CBDT can extend these dates by notification. A belated return can still be filed by 31 December, with a late fee.
Read the full guideIt depends on your deductions. For FY 2025-26, the new regime has no tax where taxable income does not exceed ₹12 lakh, which is ₹12.75 lakh of salary after the ₹75,000 standard deduction.
The old regime can work out lower if you claim large deductions, such as home loan interest, full Section 80C investments, health insurance and HRA. Salaried taxpayers can choose either regime every year when filing.
Read the full guide Try the calculatorAnyone whose tax liability for the year, after TDS, is ₹10,000 or more must pay advance tax in instalments: 15% by 15 June, 45% by 15 September, 75% by 15 December and 100% by 15 March.
Resident senior citizens with no income from business or profession are exempt. Shortfalls attract interest under Sections 234B and 234C.
Read the full guideA business needs a tax audit if turnover exceeds ₹1 crore, or ₹10 crore where cash receipts and payments are each within 5%. A professional needs one if gross receipts exceed ₹50 lakh, or ₹75 lakh where cash receipts are within 5%.
A tax audit can also apply where income is declared below the presumptive rate under certain conditions. The audit report is due by 30 September.
Read the full guideForm 26AS shows tax deducted or collected against your PAN. The Annual Information Statement (AIS) adds interest, dividends, securities transactions and other high-value transactions reported to the Income Tax Department.
Both are on the income tax portal. Matching your return with the AIS before filing avoids the most common mismatch notices.
Read the full guideIn Maharashtra, GST registration is required once aggregate turnover crosses ₹40 lakh for suppliers of goods, or ₹20 lakh for suppliers of services. Some persons must register regardless of turnover.
These include those making inter-state taxable supplies of goods, most sellers through e-commerce operators, casual taxable persons and persons liable under reverse charge.
Read the full guideFrom 22 September 2025, GST has two main rates, 5% and 18%, and a 40% rate for a small set of luxury and sin goods. Nil, 0.25% and 3% continue for specific items.
Most items earlier taxed at 12% moved to 5%, and most at 28% moved to 18%. Check the rate for the exact HSN or SAC code before invoicing.
Read the full guide Try the calculatorFor monthly filers, GSTR-1 is due by the 11th and GSTR-3B by the 20th of the following month. Under the QRMP scheme, quarterly GSTR-3B is due by the 22nd of the month after the quarter for taxpayers in Maharashtra.
Input tax credit can be claimed only when the supplier invoice appears in your GSTR-2B, so reconcile before filing GSTR-3B.
Read the full guideA private limited company must hold its AGM by 30 September, file AOC-4 within 30 days of the AGM and MGT-7 or MGT-7A within 60 days. Each director must complete DIR-3 KYC by 30 September.
ADT-1 for auditor appointment is due within 15 days of the AGM. DPT-3 and MSME-1 apply in certain cases. These filings are due even if the company had no business.
Read the full guideAn LLP files Form 11 (annual return) by 30 May and Form 8 (statement of account and solvency) by 30 October each year.
An LLP must have its accounts audited if turnover exceeds ₹40 lakh or partners’ contribution exceeds ₹25 lakh.
Read the full guideAn NRI must file a return in India if total income earned or received in India exceeds the basic exemption limit. Filing is also needed to claim a refund of excess TDS, for example on rent, interest or a property sale.
NRIs are taxed in India only on Indian income. Residential status depends on days present in India, not on citizenship.
Read the full guideThe buyer must deduct TDS under Section 195 on the capital gains, including surcharge and cess, and deposit it using a TAN. Without a lower deduction certificate, TDS is often deducted on the full sale value.
The NRI seller can apply under Section 197 for a lower or nil deduction certificate based on the actual gain.
Read the full guideUse the member and firm verification on the ICAI website with the CA’s membership number or the firm’s registration number (FRN). For this firm, these are 622387 and 162904W.
A practising Chartered Accountant must hold a certificate of practice from ICAI. You can also ask to see it.
Firm profile and key factsRahul R. Mohite & Co., Chartered Accountants is at Samadhan Bungalow, Plot No. 10, Abhay Aranya Society, Katraj-Kondhwa Road, Bibwewadi, Pune, Maharashtra 411046. Office hours are Monday to Saturday, 10:00 AM to 6:00 PM.
The office is convenient for Katraj, Kondhwa, Dhankawadi, Bibwewadi and Ambegaon. Phone: +91 86525 09298.
Firm profile and key facts