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Hency R Shah & Associates Chartered Accountants, Anjar (2026)

24/05/2026

𝗪𝗿𝗼𝗻𝗴 𝘀𝗲𝗰𝘁𝗶𝗼𝗻. 𝗟𝗮𝘁𝗲 𝗱𝗲𝗽𝗼𝘀𝗶𝘁. 𝗠𝗶𝘀𝘀𝗶𝗻𝗴 𝗣𝗔𝗡. 𝗧𝗵𝗮𝘁’𝘀 𝗵𝗼𝘄 𝗧𝗗𝗦 𝗽𝗿𝗼𝗯𝗹𝗲𝗺𝘀 𝗯𝗲𝗴𝗶𝗻.
𝘛𝘩𝘦 𝘛𝘋𝘚 𝘮𝘪𝘴𝘵𝘢𝘬𝘦 𝘵𝘩𝘢𝘵 𝘬𝘦𝘦𝘱𝘴 𝘳𝘦𝘱𝘦𝘢𝘵𝘪𝘯𝘨

A business pays a vendor on time.
The invoice is booked correctly.
The amount looks right.

But a few weeks later, the team receives a TDS notice.

𝗪𝗵𝗮𝘁 𝘄𝗲𝗻𝘁 𝘄𝗿𝗼𝗻𝗴?
In many cases, the issue is not fraud or a complicated tax dispute. It is usually a small compliance gap -TDS may have been deducted under the wrong section, deposited after the due date, or not reconciled properly with the books and returns.

That is exactly why TDS compliance cannot be treated as a year-end activity.

A missed threshold check, a wrong PAN, or even a small delay in deposit can lead to interest, late fees, notices, and unnecessary follow-up from the tax department.

𝘛𝘩𝘦 𝘮𝘰𝘴𝘵 𝘤𝘰𝘮𝘮𝘰𝘯 𝘮𝘪𝘴𝘵𝘢𝘬𝘦 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴 𝘴𝘵𝘪𝘭𝘭 𝘮𝘢𝘬𝘦 𝘪𝘴 𝘴𝘪𝘮𝘱𝘭𝘦:
they treat TDS as just an accounting entry, when in reality it is a 𝘁𝗶𝗺𝗲𝗹𝘆 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗽𝗿𝗼𝗰𝗲𝘀𝘀.

𝗔 𝘀𝘁𝗿𝗼𝗻𝗴 𝗺𝗼𝗻𝘁𝗵𝗹𝘆 𝗿𝗼𝘂𝘁𝗶𝗻𝗲 𝗺𝗮𝗸𝗲𝘀 𝗮𝗹𝗹 𝘁𝗵𝗲 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲:
• Check the correct TDS section.
• Verify thresholds before deduction.
• Deposit TDS within due dates.
• Reconcile books, challans, and returns regularly.
• Review vendor PAN and master data.

Monthly review.Correct section. Timely deposit. Proper reconciliation.
That is what keeps a business notice-free.

17/05/2026

𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗦𝗮𝗹𝗮𝗿𝘆 𝗦𝗹𝗶𝗽 𝗔𝗳𝘁𝗲𝗿 𝘁𝗵𝗲 𝗡𝗲𝘄 𝗟𝗮𝗯𝗼𝘂𝗿 𝗟𝗮𝘄𝘀

The way your salary gets calculated has changed more than you think-especially after the new labour laws.

Yet, most corporate employees still don’t fully understand what’s actually being deducted from their salary every month.

𝘓𝘦𝘵’𝘴 𝘣𝘳𝘦𝘢𝘬 𝘪𝘵 𝘥𝘰𝘸𝘯 𝘭𝘪𝘯𝘦-𝘣𝘺-𝘭𝘪𝘯𝘦 👇

💼 𝗣𝗿𝗼𝘃𝗶𝗱𝗲𝗻𝘁 𝗙𝘂𝗻𝗱 (𝗣𝗙)
• A mandatory retirement savings contribution.
• You contribute 12% of your basic salary
• Your employer matches it
After the new wage code, “basic salary” may be higher → which means higher PF deductions (and long-term savings)

💸 𝗣𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝗧𝗮𝘅 (𝗣𝗧)
• A small state-level tax deducted monthly.
• Varies by state (e.g., Gujarat has its own slab)
• Usually ranges between ₹200–₹2,500 annually
• Doesn’t depend heavily on your salary structure changes

📊 𝗧𝗗𝗦 (𝗧𝗮𝘅 𝗗𝗲𝗱𝘂𝗰𝘁𝗲𝗱 𝗮𝘁 𝗦𝗼𝘂𝗿𝗰𝗲)
• This is your income tax, deducted in advance.
• Based on your total annual income
• Adjusted using deductions (80C, HRA, etc.)
• New tax regime vs old regime choice plays a big role now

⚠️ 𝗪𝗵𝗮𝘁 𝗰𝗵𝗮𝗻𝗴𝗲𝗱 𝗮𝗳𝘁𝗲𝗿 𝘁𝗵𝗲 𝗻𝗲𝘄 𝗹𝗮𝗯𝗼𝘂𝗿 𝗹𝗮𝘄𝘀?
• Basic salary is now at least 50% of total CTC
• This increases PF contribution
• Reduces take-home salary (short-term impact)
• Improves retirement savings and gratuity (long-term benefit)

🤔 𝘘𝘶𝘪𝘤𝘬 𝘲𝘶𝘦𝘴𝘵𝘪𝘰𝘯 𝘧𝘰𝘳 𝘺𝘰𝘶:
Do you actually check your salary slip every month - or just your bank balance?

10/05/2026

𝗜𝗻𝗱𝗶𝗮’𝘀 𝗢𝗯𝘀𝗲𝘀𝘀𝗶𝗼𝗻 𝗪𝗶𝘁𝗵 𝗚𝗼𝗹𝗱 𝗝𝘂𝘀𝘁 𝗘𝗻𝘁𝗲𝗿𝗲𝗱 𝗜𝘁𝘀 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗘𝗿𝗮

Gold at home is legal in India…
But only if you can prove where it came from. 👀

Here’s what usually doesn’t get questioned in an Income Tax search:

▪ Married woman — 500g
▪ Unmarried woman — 250g
▪ Men — 100g

Sounds simple? Not really 👇

✔ Jewellery gets some relief
❌ Gold bars & coins don’t
❌ No bill = potential trouble

If you own more, your paperwork matters:
📄 Bills
📄 ITR
📄 Gift / inheritance proof

At today’s prices, a family of 4 can legally sit on ~₹80L worth of gold.

Now here’s the real shift…

Gold is no longer just sitting in lockers.

It’s going digital.

With Electronic Gold Receipts (EGRs) on NSE, gold is entering its demat era.

You can now trade gold like stocks.

No jeweller. No making charges. No guesswork.

Just:

Live prices
Assured purity
Easy liquidity
Bite-sized investing

For generations:
“Kitne tola hai?”

Now:
“What’s the price on NSE?”

Gold isn’t just tradition anymore.
It’s turning into a tracked, traded, financial asset.

India didn’t stop loving gold.
It just upgraded how it owns it.

03/05/2026

The Tax Decision That Changes More Than Just a Return

A few days ago, a client approached us with a familiar question: should they continue with the question:

“Should I continue with the old regime, or switch to the new one?”

On paper, the answer may seem simple. In practice, it rarely is.

What looked like a small tax query turned into a much bigger conversation about salary structure, investments, home loan benefits, deductions, and long-term planning.

And that is exactly why tax planning is never one-size-fits-all.

For some taxpayers, the new regime brings simplicity and lower tax rates.

For others, the old regime still offers better value because of the deductions they can claim.

Because tax planning is never just about comparing slabs. It is about understanding the full financial picture — income structure, deductions, exemptions, investments, housing benefits, and the long-term impact of each choice.

For some, the new regime offers clarity, ease, and efficiency.

For others, the old regime still creates better value through carefully planned deductions and exemptions.

That is why a thoughtful comparison matters.

At our firm, we believe true tax advisory is not about following trends. It is about applying judgment, precision, and clarity to help clients make the right decision for their specific situation.

A well-chosen tax regime does more than reduce liability.

It reflects disciplined planning, informed choices, and financial maturity.

Because the best tax plan is not the one that looks simplest — it is the one that works best for you.

26/04/2026

🚀 𝗕𝗶𝗴 𝗥𝗲𝗹𝗶𝗲𝗳 𝗳𝗼𝗿 𝗦𝗮𝗹𝗮𝗿𝗶𝗲𝗱 𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗲𝘀! 𝗧𝗮𝘅-𝗙𝗿𝗲𝗲 𝗣𝗲𝗿𝗸𝘀 𝗝𝘂𝘀𝘁 𝗚𝗼𝘁 𝗝𝘂𝗶𝗰𝗶𝗲𝗿 𝗨𝗻𝗱𝗲𝗿 𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗮𝘅 𝗔𝗰𝘁 𝟮𝟬𝟮𝟱 🚀

The new Income Tax Act 2025 has rolled out major upgrades to perquisite and allowance rules—making your salary packages go further! No more outdated thresholds pinching your pocket.

How it impacts YOU:
✅ Cars & Drivers: Higher deemed values mean less taxable perquites-save thousands annually on company cars!
✅ Gifts & Vouchers: Triple the exemption -enjoy more without tax worry.
✅ Loans from Employer: 10x higher threshold before it hits your taxable income.
✅ Meals & More: Bigger exemptions for everyday office perks.
✅ Expanded HRA Metros (Bengaluru, Pune, Hyderabad, Ahmedabad now at 50% like Delhi/Mumbai)-bigger rent exemptions!

Bottom line: Lower tax on benefits = Higher take-home pay from FY 2026-27.
Employers, time to tweak payrolls!
Employees, celebrate! 🎉

What’s your biggest takeaway? Drop a comment! ⬇️

What perq are YOU most excited about? Drop a comment! 👇

19/04/2026

💸 𝗖𝗮𝘀𝗵 𝗿𝘂𝗹𝗲𝘀 𝗮𝗿𝗲 𝗻𝗼𝘄 𝘀𝘁𝗿𝗶𝗰𝘁𝗲𝗿 𝘂𝗻𝗱𝗲𝗿 𝘁𝗵𝗲 𝗻𝗲𝘄 𝗜𝗻𝗰𝗼𝗺𝗲‐𝘁𝗮𝘅 𝗔𝗰𝘁 𝟮𝟬𝟮𝟱 & 𝗥𝘂𝗹𝗲𝘀 𝟮𝟬𝟮𝟲.
From 1 April 2026, think “banking / e‑mode” for every big amount—else deductions vanish and penalties arrive! 🚨📉

📜 𝗞𝗲𝘆 𝗰𝗮𝘀𝗵‐𝗹𝗶𝗺𝗶𝘁 𝘀𝗲𝗰𝘁𝗶𝗼𝗻𝘀
🚫 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟴𝟲 – No cash receipt ₹2,00,000 or more from a person in a day / per transaction / per event (except govt, banks etc.). Violation → penalty up to 100% of cash received.

🚫 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟴𝟱 – Taking loans / deposits / specified sums ₹20,000 or more in cash is restricted; higher‑risk → again 100% penalty of cash amount.

🚫 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟴𝟴 – Repayment of such loans/deposits/advances ₹20,000+ in cash also hits the same red‑zone.

📉 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟯𝟲(𝟯)/(𝟰)/(𝟱) – Any business expense paid in cash > ₹10,000 per person per day is disallowed (unless covered by specific exemptions under Rules 26 / 48).

🩺 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟮𝟲 – Health‑insurance premium: only preventive check‑up is allowed in cash; all other insurance premia must be paid non‑cash to claim deduction.

🎗 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟯𝟯 – For eligible donations, non‑cash / prescribed modes are preferred; cash entries may be questioned or blocked.

🏭 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟯𝟳 – Profit‑linked deductions are linked to compliance with prescribed modes; improper cash‑based payments can nullify the benefit.

💳 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗼𝗳 𝗜𝗻𝗰𝗼𝗺𝗲‐𝘁𝗮𝘅, 𝗧𝗗𝗦 & 𝗚𝗦𝗧
Income‑tax, TDS & GST should be paid via banking / e‑modes (UPI, NEFT, RTGS, card, etc.).
Cash payments above ₹10,000 are discouraged and may be treated as non‑compliant for expense‑deduction or even as “income” under tracing rules.

✅ 𝗥𝘂𝗹𝗲 𝗼𝗳 𝘁𝗵𝘂𝗺𝗯:
Any amount ≥ ₹10,000 → avoid cash |
₹2,00,000+ receipts or ₹20,000+ loans/repayments → strictly non‑cash.

Use UPI / NEFT / RTGS / card / cheques and stay audit‑safe! 💻✅

12/04/2026

🚨 PAN Quoting is Now MANDATORY under the new Income-tax Rules, 2026!

🚨From 1st April 2026, Rule 159 makes PAN compulsory for high-value transactions to ensure full traceability and compliance.

No more excuses!

When is PAN REQUIRED?
✅ Cash deposits/withdrawals above thresholds
✅ Property deals (buy/sell/lease)
✅ Motor vehicle purchases
✅ Mutual funds, shares, securities
✅ High-value goods/services

Why it matters:
Missed PAN = Scrutiny + Penalties + Mismatch notices. Clean records start with proper quoting!

Pro Tip for CAs & Businesses:
Build PAN verification into your SOPs NOW. Save headaches during assessments.

Quick Question: Which transaction type worries you most? Comment below! 👇

05/04/2026

𝗡𝗲𝘄 𝗧𝗗𝗦 𝗥𝘂𝗹𝗲𝘀 𝗨𝗻𝗱𝗲𝗿 𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗮𝘅 𝗔𝗰𝘁 𝟮𝟬𝟮𝟱: 𝗤𝘂𝗶𝗰𝗸 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗚𝘂𝗶𝗱𝗲

The Income Tax Act 2025 has consolidated TDS provisions into Sections 392-394, replacing the fragmented old sections (192-194T). Effective 1 April 2026, this structural shift simplifies compliance while retaining core rates and thresholds.

Businesses must update software, SOPs, and training to align with the new framework.

𝗖𝗼𝗿𝗲 𝗖𝗵𝗮𝗻𝗴𝗲𝘀 𝗮𝘁 𝗮 𝗚𝗹𝗮𝗻𝗰𝗲

Old TDS rules spread across 30+ sections are now grouped logically:

Old Structure New Structure

Section 192 (Salary) Section 392 – Salaries & Pensions

Sections 193-194T (Payments) Section 393 – All Other Payments

Section 206C (TCS) Section 394 – TCS Collections

Rates and thresholds remain largely unchanged, but section references in returns, certificates, and contracts need revision.

𝗣𝗿𝗮𝗰𝘁𝗶𝗰𝗮𝗹 𝗔𝗰𝘁𝗶𝗼𝗻 𝗜𝘁𝗲𝗺𝘀

• Map payments to new sections in ERP/accounting software

• Update quarterly returns (Form 138 replaces 24Q/26Q/27Q)

• Revise vendor contracts with new section references

• Train teams on consolidated TDS table approach

• Validate PAN/Aadhaar data – 20% rate applies if missing

𝗪𝗵𝘆 𝗜𝘁 𝗠𝗮𝘁𝘁𝗲𝗿𝘀 𝗡𝗼𝘄

TDS isn't just deduction it's your primary tax data interface with the department. Mismatched section codes or payment classifications will trigger notices under the new regime.

𝗣𝗿𝗼 𝘁𝗶𝗽: Start with a payment-wise audit of last 3 quarters to benchmark against the new structure.

𝗧𝗵𝗲 𝗕𝗼𝘁𝘁𝗼𝗺 𝗟𝗶𝗻𝗲

The 2025 Act simplifies TDS reading but demands system readiness. Deductors who update early avoid FY 2026-27 surprises.

Save this table. Share with your tax team. Compliance starts with the right section numbers.

01/04/2026

🗓️ 𝗔𝗽𝗿𝗶𝗹 𝟭, 𝟮𝟬𝟮𝟲 - 𝗧𝗵𝗲 𝗗𝗮𝘆 𝗜𝗻𝗱𝗶𝗮’𝘀 𝗧𝗮𝘅 𝗗𝗡𝗔 𝗖𝗵𝗮𝗻𝗴𝗲𝗱 𝗙𝗼𝗿𝗲𝘃𝗲𝗿

Today marks the official retirement of the Income Tax Act, 1961.
After 63 years, it passes the torch to a new digital-first era.

For decades, we spoke in Form Numbers and Section Codes
a language only Chartered Accountants truly understood.

“Send me the 26AS.”
“Is the 3CD finalized?”
“File the 15CB.”

Starting today, that vocabulary is history.

⚖️ R.I.P. Income Tax Act 1961 (1961–2026)
The great renumbering begins:

🔹 Tax Audit → Form 26 (was 3CD)
🔹 TDS Return → Form 140 (was 26Q)
🔹 Salary Certificate → Form 130 (was 16)
🔹 Transfer Pricing → Form 48 (was 3CEB)
🔹 Tax Credit Statement → Form 168 (was 26AS)
🔹 Foreign Remittance → Form 145/146 (was 15CA/15CB)

Cleaner structure.
Simpler indexing.
But our muscle memory won’t change overnight.

For months, conversations will sound like
“File the 3CD… oh, I mean 26.”
“Check 26AS… I mean 168.”

The law may have changed. But relearning the language that’s the real transition.

💡 What’s New From Today

1️⃣ Assessment Year & Previous Year → Now “Tax Year.”
One unified concept: Tax Year 2026–27 = income & filing for the same period.

2️⃣ All TDS under Section 393.
20+ sections combined into one → streamlined but stricter.

3️⃣ “Virtual Digital Space” legally defined.
Emails. Clouds. Social media. Trading accounts. Websites.
All officially recognized as part of your assessable footprint.

4️⃣ Faceless Assessment = Default.
AI-driven scrutiny, little human interaction → efficiency meets accountability.

5️⃣ Compliance Simplified, Not Reduced.
Everything grouped logically, but there’s no hiding now.
Miss one form, one mapping → get a notice.

🧭 If You’re a Business Owner or CA Today

✅ Update automations referencing AY / PY.
✅ Review TDS workflow under Section 393.
✅ Separate business & personal digital spaces.
✅ Train your team on new terminology.

Because this isn’t just another amendment it’s the beginning of a brand-new tax framework.

🌅 𝗚𝗼𝗼𝗱𝗯𝘆𝗲, 𝟭𝟵𝟲𝟭. 𝗛𝗲𝗹𝗹𝗼, 𝟮𝟬𝟮𝟲.
We’re not just learning new law
we’re entering an era where compliance goes digital,
assessments go faceless,
and accountability goes algorithmic.

To make this shift seamless, we’ve built a transition tool that maps every old form, section, and process under the Income Tax Act, 1961 to its 2026 equivalent.

💬 Comment “2026” to get it.

Because from today, “3CD” isn’t just outdated it’s history.

01/04/2026

𝗚𝗿𝗮𝘁𝗲𝗳𝘂𝗹 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗝𝗼𝘂𝗿𝗻𝗲𝘆, 𝗘𝘅𝗰𝗶𝘁𝗲𝗱 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗙𝘂𝘁𝘂𝗿𝗲! 🚀
As we close the books on FY 2025–26, we want to take a moment to reflect on the incredible partnerships that made this year a success. 💼✨

To our valued clients and partners: 𝗧𝗵𝗮𝗻𝗸 𝘆𝗼𝘂 𝗳𝗼𝗿 𝘆𝗼𝘂𝗿 𝘂𝗻𝘄𝗮𝘃𝗲𝗿𝗶𝗻𝗴 𝘁𝗿𝘂𝘀𝘁. Your confidence in Hency R Shah & Associates drives us to push the boundaries of excellence in accounting, taxation, and financial advisory every single day.

As we step into 𝗙𝗬 𝟮𝟬𝟮𝟲–𝟮𝟳, we remain committed to:
✅ Navigating complex regulations with ease.
✅ Empowering your business with strategic financial insights.
✅ Strengthening our relationship through transparency and results.

Here’s to a prosperous and growth-filled New Financial Year! 📈🥂

29/03/2026

𝗔𝗽𝗿𝗶𝗹 𝟭, 𝟮𝟬𝟮𝟲: 𝗧𝗵𝗲 𝗗𝗮𝘆 𝗜𝗻𝗱𝗶𝗮’𝘀 𝗧𝗮𝘅 𝗟𝗮𝗻𝗴𝘂𝗮𝗴𝗲 𝗖𝗵𝗮𝗻𝗴𝗲𝘀 𝗙𝗼𝗿𝗲𝘃𝗲𝗿 📊

From this year, your CA’s favourite terms “Assessment Year” and “Previous Year” are officially retiring. They’re all being replaced by one term: 𝗧𝗮𝘅 𝗬𝗲𝗮𝗿 – a 12‑month period starting 1 April, used for both earning and filing.

Behind this simple change is India’s biggest direct tax reset in 60+ years:

• 𝗢𝗻𝗲 𝘁𝗲𝗿𝗺, 𝗰𝗹𝗲𝗮𝗻𝗲𝗿 𝗿𝘂𝗹𝗲𝘀: No more AY vs PY confusion – everything aligned to the Tax Year.

• 𝗧𝗗𝗦 𝘂𝗻𝗱𝗲𝗿 𝗼𝗻𝗲 𝗿𝗼𝗼𝗳: All TDS provisions move into a single Section 393, demanding urgent software and ERP updates.

• 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗹𝗶𝗳𝗲 𝗼𝗻 𝗿𝗲𝗰𝗼𝗿𝗱: Email, cloud, platforms and digital assets are now clearly within the tax department’s view.

• 𝗙𝗮𝗰𝗲𝗹𝗲𝘀𝘀 𝗯𝘆 𝗱𝗲𝗳𝗮𝘂𝗹𝘁: Tech‑driven, AI‑assisted assessments will become the norm, not the exception.

𝘉𝘦𝘧𝘰𝘳𝘦 1 𝘈𝘱𝘳𝘪𝘭 2026:

• Audit all digital platforms where business transactions occur

• Separate personal and business digital infrastructure

• Map TDS obligations under Section 393

• Update software and automated filing systems

• Train the accounts team on new terminology and reporting structure

• Clean historical compliance records because AI-based systems will analyse past data

April 1, 2026 is not just the start of another financial year.

It is the moment India’s tax administration fully enters the digital era. 🚀

Hency R Shah & Associates Chartered Accountants

24/05/2026

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10/05/2026

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26/04/2026

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29/03/2026

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