Kanika Nitish and Associates

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Kanika Nitish & Associates is a firm of Chartered Accountants providing professional services in taxation, audit & assurance, regulatory compliance, and financial advisory, in accordance with applicable laws and professional standards.

29/03/2026

As the financial year closes on 31st March, it is crucial for businesses to review and complete key GST compliances to avoid disruptions in the upcoming year.

🔍 Key Actions Required Before 31st March:

• CMP-02 Filing
Opt for Composition Scheme for FY 2026–27 (if applicable)

• LUT (Form RFD-11)
Mandatory for exporters intending to supply without payment of GST

• Annexure V (GTA Declaration)
Required for opting Forward Charge mechanism in GTA services

⚠️ Please note:
The options exercised will remain applicable for the entire financial year, hence should be evaluated carefully.

Regards
Kanika Nitish AND Associates

15/03/2026

The Income Tax Department has recently issued a clarification regarding the E-Campaign messages being sent to taxpayers.

These messages are generally triggered where certain financial transactions or information reported in AIS require verification. Taxpayers are advised not to panic and to review the details carefully through the Compliance Portal.

In this video, we briefly explain the clarification issued by the Income Tax Department and what taxpayers should understand if they receive such a message.

14/03/2026

Income Tax Department – e-Campaign Communication

The Income Tax Department has recently sent bulk SMS and email communications to several taxpayers under its e-Campaign initiative. Many taxpayers are interpreting this communication as a notice, which has led to unnecessary concern.

In most cases, the communication is not a notice but an informational alert intended to remind taxpayers to review the information reflected in their AIS (Annual Information Statement) and to evaluate their advance tax liability before the due date of 15 March.

We have prepared a short video explaining the purpose of this communication and the steps taxpayers may consider taking.

We hope this information helps in clarifying the matter and reducing unnecessary confusion among taxpayers.

⏰ Advance Tax Deadline ReminderThe last instalment of Advance Tax for FY 2025–26 is due on 15th March 2026.Taxpayers who...
13/03/2026

⏰ Advance Tax Deadline Reminder

The last instalment of Advance Tax for FY 2025–26 is due on 15th March 2026.

Taxpayers whose total tax liability exceeds ₹10,000 in a financial year are required to pay 100% of their advance tax liability by this date.

✅ Ensure timely payment to avoid unnecessary interest and remain fully compliant.

The Ministry of Corporate Affairs has introduced a one-time opportunity for companies to complete pending ROC compliance...
25/02/2026

The Ministry of Corporate Affairs has introduced a one-time opportunity for companies to complete pending ROC compliances at significantly reduced additional fees.

✔ Pay only 10% of additional fees
✔ Option for Dormant Status / Strike Off
✔ Immunity from penalty in eligible cases

📅 Scheme Period: 15 April 2026 to 15 July 2026

If your company has pending filings, this is the right time to regularize compliance and avoid future litigation.

The Union Budget 2026–27 continues the existing structure of income-tax slabs for individuals under the Old and New Regi...
02/02/2026

The Union Budget 2026–27 continues the existing structure of income-tax slabs for individuals under the Old and New Regimes for Financial Year 2026–27.

The applicable slab-wise rates are summarised in the image above.

📌 We will continue to share important Budget highlights.

—
Kanika Nitish and Associates
Chartered Accountants

The Union Budget 2026–27 proposes revised timelines for filing Income-tax Returns.Individuals filing ITR-1 and ITR-2 may...
01/02/2026

The Union Budget 2026–27 proposes revised timelines for filing Income-tax Returns.

Individuals filing ITR-1 and ITR-2 may continue to file their returns till 31 July.

Non-audit business cases and trusts are proposed to be allowed time till 31 August.

📌 We will continue to share important Budget highlights.

—
Kanika Nitish and Associates
Chartered Accountants

The Union Budget 2026–27 proposes reductions in TCS rates under the Liberalised Remittance Scheme (LRS) for education an...
01/02/2026

The Union Budget 2026–27 proposes reductions in TCS rates under the Liberalised Remittance Scheme (LRS) for education and medical purposes.

Further, the TCS rate on overseas tour programme packages is proposed to be reduced to 2%, without any stipulation of amount.

📌 We will continue to share important Budget highlights.

—
Kanika Nitish and Associates
Chartered Accountants

The Union Budget 2026–27 proposes an extension of the time limit for filing revised returns.The due date is proposed to ...
01/02/2026

The Union Budget 2026–27 proposes an extension of the time limit for filing revised returns.

The due date is proposed to be extended from 31 December to 31 March, subject to payment of a nominal fee.

📌 We will continue to share important Budget highlights.

—
Kanika Nitish and Associates
Chartered Accountants

The Union Budget 2026–27 proposes a change in the procedure for deduction and deposit of TDS on sale of immovable proper...
01/02/2026

The Union Budget 2026–27 proposes a change in the procedure for deduction and deposit of TDS on sale of immovable property by non-residents.

TDS is proposed to be deducted and deposited through the resident buyer’s PAN-based challan, instead of requiring the buyer to obtain a TAN.

📌 We will continue to share important Budget highlights.

—
Kanika Nitish and Associates
Chartered Accountants

Address

SCO3, FF, ADJOINING LUCKY DHABA
Rupnagar
140603

Telephone

+91 97808 55945

Website

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