[{"id":"overview","kind":"overview","title":"Areas of practice","url":"/practice","text":"areas practice services offer provide work list chapters what does the firm do","answer":"The firm's published list of areas of practice is: direct tax; goods and services tax; accounting; compliance and HR administration; internal audit; advisory. It also includes audit and assurance, work reserved by law to chartered accountants. The list is being confirmed by the partners."},{"id":"direct-tax","kind":"practice","pull":false,"title":"Direct tax","url":"/practice/direct-tax","text":"Direct tax Income-tax compliance, assessments, withholding and transfer pricing. Income-tax work for companies, firms and individuals: returns, advance tax, withholding, assessments and appeals, and transfer pricing for transactions between related parties. Returns of income and advance tax computations Tax deduction and collection at source: rates, returns and certificates Assessments, reassessments and appeals before the tax authorities Transfer pricing documentation for international and specified domestic transactions Withholding and treaty questions on payments to non-residents Tax planning within the law, including the effect of the 2025 Act Income-tax Act, 2025 s. 263 Return of income (formerly s. 139) Income-tax Act, 2025 ss. 393–394 Tax deduction and collection at source, in tabular form Income-tax Act, 2025 ss. 403–408 Advance tax: liability, computation and instalments (formerly ss. 207–211) Income-tax Act, 2025 s. 536 Repeal and savings: pending 1961 Act proceedings continue under that Act","answer":"Direct tax: Income-tax compliance, assessments, withholding and transfer pricing. It covers returns of income and advance tax computations; tax deduction and collection at source: rates, returns and certificates; assessments, reassessments and appeals before the tax authorities; transfer pricing documentation for international and specified domestic transactions."},{"id":"gst","kind":"practice","pull":false,"title":"Goods and services tax","url":"/practice/gst","text":"Goods and services tax GST registration, returns, reconciliations, notices and appeals. GST compliance for businesses registered in one state or many: returns and annual returns, input tax credit reconciliations, and replies to scrutiny, audit and demand notices. Registration and amendments across states Monthly and quarterly returns; the annual return and reconciliation statement Input tax credit reconciliation against supplier filings Replies to scrutiny notices, pre-show-cause intimations and show-cause notices Appeals before the appellate authority and the Appellate Tribunal Classification, place-of-supply and valuation questions CGST Act, 2017 s. 61 Scrutiny of returns (notice in ASMT-10) CGST Act, 2017 s. 74A Demands for 2024-25 onwards: one time limit for fraud and non-fraud cases CGST Rules, 2017 r. 142(1A) Pre-show-cause intimation (DRC-01A) CGST Act, 2017 s. 107 Appeal to the appellate authority within three months","answer":"Goods and services tax: GST registration, returns, reconciliations, notices and appeals. It covers registration and amendments across states; monthly and quarterly returns; the annual return and reconciliation statement; input tax credit reconciliation against supplier filings; replies to scrutiny notices, pre-show-cause intimations and show-cause notices."},{"id":"accounting","kind":"practice","pull":false,"title":"Accounting","url":"/practice/accounting","text":"Accounting Bookkeeping, offshore accounting, family office accounts and TDS compliance. Accounting and reporting for businesses in India and overseas: books kept to a monthly close, statutory registers, family office accounts, and the TDS compliance that runs alongside them. Books of account kept to a fixed monthly close Accounting for overseas businesses (offshore accounting) Family office accounts and consolidated statements for families TDS compliance: deduction, deposit, returns and certificates Management accounts and schedules for the year-end audit Companies Act, 2013 s. 128 Books of account to be kept on accrual basis and double entry Companies (Accounts) Rules, 2014 r. 3 Electronic books: audit trail that cannot be disabled; daily back-up on servers in India Companies Act, 2013 s. 144 An auditor may not provide accounting services to the company it audits","answer":"Accounting: Bookkeeping, offshore accounting, family office accounts and TDS compliance. It covers books of account kept to a fixed monthly close; accounting for overseas businesses (offshore accounting); family office accounts and consolidated statements for families; tDS compliance: deduction, deposit, returns and certificates."},{"id":"compliance-hr","kind":"practice","pull":false,"title":"Compliance and HR administration","url":"/practice/compliance-hr","text":"Compliance and HR administration PF trust, gratuity and ESI administration under the labour codes. Administration of employee benefit obligations: accounts and compliance for exempted provident fund trusts, gratuity, and employees' state insurance, now under the Code on Social Security, 2020. Accounts, investments register and returns of exempted PF trusts Gratuity: liability schedules and payment compliance ESI registration, contributions and returns Compliance calendars for employee-benefit filings Code on Social Security, 2020 in force 21 Nov 2025 Consolidates the EPF, ESI, gratuity and other social security laws Code on Wages, 2019 s. 2(y) Common definition of wages used to compute benefits","answer":"Compliance and HR administration: PF trust, gratuity and ESI administration under the labour codes. It covers accounts, investments register and returns of exempted PF trusts; gratuity: liability schedules and payment compliance; eSI registration, contributions and returns; compliance calendars for employee-benefit filings."},{"id":"internal-audit","kind":"practice","pull":false,"title":"Internal audit","url":"/practice/internal-audit","text":"Internal audit Risk assessment, process audits and compliance calendar monitoring. Internal audit for boards and audit committees: a risk-based plan, audits of the processes that carry the most risk, and a running check that statutory filings are made on time. Risk assessment and a written internal audit plan Process audits: purchase to pay, order to cash, payroll, inventory Compliance calendar monitoring across statutes Reports to the audit committee with agreed actions and owners Companies Act, 2013 s. 138 Internal auditor for prescribed classes of companies Companies (Accounts) Rules, 2014 r. 13 Classes of companies that must appoint an internal auditor Standards on Internal Audit ICAI Professional standards for planning, conducting and reporting internal audits","answer":"Internal audit: Risk assessment, process audits and compliance calendar monitoring. It covers risk assessment and a written internal audit plan; process audits: purchase to pay, order to cash, payroll, inventory; compliance calendar monitoring across statutes; reports to the audit committee with agreed actions and owners."},{"id":"advisory","kind":"practice","pull":false,"title":"Advisory","url":"/practice/advisory","text":"Advisory Financial advice on structure, transactions and reporting. Financial advice for owners and boards: choice of structure, the tax and regulatory effect of a transaction before it is signed, and changes in accounting and reporting. Choice of entity and group structure Tax and regulatory review of proposed transactions Accounting policy questions and changes in reporting framework Support to owners on succession and family arrangements Code of Ethics (ICAI) as in force (13th edition, from 1 April 2026) Independence limits on advice to audit clients","answer":"Advisory: Financial advice on structure, transactions and reporting. It covers choice of entity and group structure; tax and regulatory review of proposed transactions; accounting policy questions and changes in reporting framework; support to owners on succession and family arrangements."},{"id":"audit-assurance","kind":"practice","pull":true,"title":"Audit and assurance","url":"/practice/audit-assurance","text":"audit assurance statutory audit tax audit attest certificate certification caro auditor","answer":"Audit and assurance is work reserved by law to chartered accountants. As asked: it covers statutory audit of companies under the Companies Act, 2013; audit of limited liability partnerships where the LLP Rules require it; tax audit under the Income-tax Act, 2025; certificates and attest reports required under other statutes; audit of trusts and societies where the governing law requires one. The chapter page sets out the law it sits in."},{"id":"income-tax-act-2025-transition","kind":"note","title":"The Income-tax Act, 2025: what changes for companies in the first tax year","url":"/insights/income-tax-act-2025-transition","text":"Direct tax The Income-tax Act, 2025: what changes for companies in the first tax year Two Acts now run side by side. Income of 2025-26 stays under the 1961 Act; tax year 2026-27 is the first under the new one. How to keep the tracks apart. Two Acts, one calendar The tax year Where familiar sections went Withholding from 1 April 2026 Proceedings already under way A working checklist","answer":"There is a note on this: “The Income-tax Act, 2025: what changes for companies in the first tax year”. Two Acts now run side by side. Income of 2025-26 stays under the 1961 Act; tax year 2026-27 is the first under the new one. How to keep the tracks apart. It is general information dated 25 September 2026, not advice."},{"id":"gst-notices-reply-discipline","kind":"note","title":"GST notices: reading them correctly and replying on time","url":"/insights/gst-notices-reply-discipline","text":"GST GST notices: reading them correctly and replying on time Scrutiny, intimation, show-cause, order: each GST notice has its own form, provision and clock. Section 74A has changed the clock for 2024-25 onwards. Which notice is this? Section 74A in brief Reply discipline Hearing and order If the order goes against you","answer":"There is a note on this: “GST notices: reading them correctly and replying on time”. Scrutiny, intimation, show-cause, order: each GST notice has its own form, provision and clock. Section 74A has changed the clock for 2024-25 onwards. It is general information dated 25 September 2026, not advice."},{"id":"audit-readiness-caro","kind":"note","title":"Getting ready for the statutory audit: CARO 2020 from the company’s side","url":"/insights/audit-readiness-caro","text":"Company law Getting ready for the statutory audit: CARO 2020 from the company’s side What the auditor must report on under the Companies (Auditor’s Report) Order, 2020, and the records a company can keep in order through the year so that the answers are already on file. Who CARO applies to What the auditor reports on Records to keep through the year Audit trail and back-ups A year-end timeline","answer":"There is a note on this: “Getting ready for the statutory audit: CARO 2020 from the company’s side”. What the auditor must report on under the Companies (Auditor’s Report) Order, 2020, and the records a company can keep in order through the year so that the answers are already on file. It is general information dated 25 September 2026, not advice."},{"id":"llp-compliance-calendar","kind":"note","title":"An LLP’s compliance calendar: the dates that do not move","url":"/insights/llp-compliance-calendar","text":"LLP law An LLP’s compliance calendar: the dates that do not move Form 11 by 30 May, Form 8 by 30 October, the audit that turns on two thresholds, and the additional fees that keep rising the longer a filing is late. The two annual filings When an LLP must be audited The calendar Event-based filings The cost of lateness","answer":"There is a note on this: “An LLP’s compliance calendar: the dates that do not move”. Form 11 by 30 May, Form 8 by 30 October, the audit that turns on two thresholds, and the additional fees that keep rising the longer a filing is late. It is general information dated 25 September 2026, not advice."},{"id":"firm","kind":"about","title":"The firm","url":"/firm","text":"about firm who what history constitution llp limited liability partnership established establishment year chartered accountants icai rules","answer":"Ghosh Khanna & Co LLP is a firm of chartered accountants constituted as a limited liability partnership, with a head office in New Delhi and a branch in Kolkata. The year of establishment and registration particulars are published as they are matched with the Institute's records."},{"id":"offices","kind":"offices","title":"Offices","url":"/offices","text":"offices office address located where delhi new delhi kolkata calcutta branch head visit map","answer":"The firm has a head office in New Delhi and a branch office in Kolkata. Street addresses, telephone and hours are published on the offices page once they are matched with the Institute's records."},{"id":"people","kind":"people","title":"Partners and people","url":"/people","text":"people partners partner names team staff who qualified","answer":"The partners' table (name, year of qualification, other qualifications and area of work) is published once each partner has given written consent and the details match the Institute's records."},{"id":"careers","kind":"careers","title":"Careers and articleship","url":"/careers","text":"careers articleship articled assistant training jobs job roles vacancy vacancies hiring recruit stipend qualified semi-qualified apply cv","answer":"The careers page covers articleship under the Institute's scheme of practical training and roles for qualified and semi-qualified staff. Openings are listed there once confirmed. To apply, use the request form and choose Articleship or careers."},{"id":"disclosures","kind":"legal","title":"ICAI disclosures","url":"/icai-disclosures","text":"icai disclosures registration frn firm registration number peer review aqmm network llpin particulars","answer":"The firm's particulars under the ICAI guidelines, including its registration number, peer review status and partners, are on the ICAI disclosures page. Particulars still being matched with the records are marked there."},{"id":"contact","kind":"contact","title":"Contact","url":"/contact","text":"contact write email phone telephone whatsapp reach request information form","answer":"Use the request form on the contact page and the firm will reply by email. Telephone, email and WhatsApp details are published once confirmed."},{"id":"privacy","kind":"legal","title":"Privacy policy","url":"/privacy","text":"privacy data personal dpdp consent grievance delete erase rights cookies","answer":"The privacy policy explains what the website collects (only what you send through the request form), how long it is kept, and your rights under the Digital Personal Data Protection Act, 2023. The website sets no tracking cookies."},{"id":"tools","kind":"tool","title":"Compliance calendar","url":"/tools","text":"compliance calendar due date dates deadline when file filing return gstr tds tcs advance tax aoc-4 mgt-7 form 8 form 11 llp company agm tax audit itr","answer":"The tools page has a compliance calendar of due dates for LLPs, companies, GST and income tax from September 2026 to March 2027, each with its law and sources, checked on 25 September 2026. It is general information, not advice."},{"id":"glossary","kind":"reference","title":"Glossary","url":"/glossary","text":"glossary term terms meaning define definition what is abbreviation","answer":"The glossary defines the tax, GST, company and LLP terms used on this website, from advance tax to UDIN."},{"id":"faq","kind":"reference","title":"Questions and answers","url":"/faq","text":"faq questions answers help common","answer":"The questions and answers page collects common questions about the firm, its areas of practice, the notes and this website."},{"id":"faq-what-is","kind":"faq","pull":false,"title":"What is Ghosh Khanna & Co LLP?","url":"/faq#q-what-is","text":"what is ghosh khanna & co llp? a firm of chartered accountants, constituted as a limited liability partnership under the limited liability partnership act, 2008, with a head office in new delhi and a branch office in kolkata.","answer":"A firm of chartered accountants, constituted as a limited liability partnership under the Limited Liability Partnership Act, 2008, with a head office in New Delhi and a branch office in Kolkata."},{"id":"faq-rules","kind":"faq","pull":false,"title":"Which rules does the firm work under?","url":"/faq#q-rules","text":"which rules does the firm work under? the chartered accountants act, 1949 and the institute’s code of ethics, which cover independence, confidentiality, communication with a previous auditor and the limits on advertising. company audits are also governed by the companies act, 2013 (ss. 139–144).","answer":"The Chartered Accountants Act, 1949 and the Institute’s Code of Ethics, which cover independence, confidentiality, communication with a previous auditor and the limits on advertising. Company audits are also governed by the Companies Act, 2013 (ss. 139–144)."},{"id":"faq-why-plain","kind":"faq","pull":false,"title":"Why does this website read so plainly?","url":"/faq#q-why-plain","text":"why does this website read so plainly? chartered accountants in india may not advertise or solicit work. the institute allows a firm’s website to give factual information about the firm, and this website keeps to that.","answer":"Chartered accountants in India may not advertise or solicit work. The Institute allows a firm’s website to give factual information about the firm, and this website keeps to that."},{"id":"faq-clients","kind":"faq","pull":false,"title":"Does the website name the firm’s clients?","url":"/faq#q-clients","text":"does the website name the firm’s clients? no. client information is confidential, and the website names no clients.","answer":"No. Client information is confidential, and the website names no clients."},{"id":"faq-direct-tax","kind":"faq","pull":false,"title":"What does the direct tax practice cover?","url":"/faq#q-direct-tax","text":"what does the direct tax practice cover? returns and advance tax, tax deduction and collection at source, assessments and appeals, transfer pricing documentation and withholding on payments to non-residents, under both the 1961 and 2025 income-tax acts during the transition.","answer":"Returns and advance tax, tax deduction and collection at source, assessments and appeals, transfer pricing documentation and withholding on payments to non-residents, under both the 1961 and 2025 Income-tax Acts during the transition."},{"id":"faq-gst","kind":"faq","pull":false,"title":"What does the GST practice cover?","url":"/faq#q-gst","text":"what does the gst practice cover? registration, monthly and annual returns, input tax credit reconciliation, replies to scrutiny and show-cause notices, and appeals.","answer":"Registration, monthly and annual returns, input tax credit reconciliation, replies to scrutiny and show-cause notices, and appeals."},{"id":"faq-accounting","kind":"faq","pull":false,"title":"What does the accounting practice cover?","url":"/faq#q-accounting","text":"what does the accounting practice cover? bookkeeping, offshore accounting, family office accounts and tds compliance.","answer":"Bookkeeping, offshore accounting, family office accounts and TDS compliance."},{"id":"faq-hr","kind":"faq","pull":false,"title":"What is compliance and HR administration?","url":"/faq#q-hr","text":"what is compliance and hr administration? administration of pf trusts, gratuity and esi under the labour codes.","answer":"Administration of PF trusts, gratuity and ESI under the labour codes."},{"id":"faq-ia","kind":"faq","pull":false,"title":"What does internal audit involve?","url":"/faq#q-ia","text":"what does internal audit involve? risk assessment, process audits and monitoring of the compliance calendar.","answer":"Risk assessment, process audits and monitoring of the compliance calendar."},{"id":"faq-audit","kind":"faq","pull":true,"title":"Does the firm carry out statutory audits?","url":"/faq#q-audit","text":"does the firm carry out statutory audits? audit and assurance (statutory audits, tax audits and certification required by law) is one of the areas on the firm’s published list. it is work reserved to chartered accountants in practice, and the institute’s rules on independence apply to it. the practice page sets out the law it sits in.","answer":"Audit and assurance (statutory audits, tax audits and certification required by law) is one of the areas on the firm’s published list. It is work reserved to chartered accountants in practice, and the Institute’s rules on independence apply to it. The practice page sets out the law it sits in."},{"id":"faq-notes-what","kind":"faq","pull":false,"title":"What are the notes on this website?","url":"/faq#q-notes-what","text":"what are the notes on this website? dated educational notes on current indian tax and company law: the income-tax act, 2025 transition, gst notices, caro 2020 audit readiness and the llp calendar. each cites its sources.","answer":"Dated educational notes on current Indian tax and company law: the Income-tax Act, 2025 transition, GST notices, CARO 2020 audit readiness and the LLP calendar. Each cites its sources."},{"id":"faq-notes-advice","kind":"faq","pull":false,"title":"Can I rely on a note for my own situation?","url":"/faq#q-notes-advice","text":"can i rely on a note for my own situation? no. the notes are general information on the law as it stood on their date. they are not advice on particular facts, and due dates can be extended by the government.","answer":"No. The notes are general information on the law as it stood on their date. They are not advice on particular facts, and due dates can be extended by the government."},{"id":"faq-calendar","kind":"faq","pull":false,"title":"Is there a compliance calendar on the website?","url":"/faq#q-calendar","text":"is there a compliance calendar on the website? yes. the tools page has a calendar of due dates for llps, companies, gst and income tax from september 2026 to march 2027, with the law and sources for each date. it is general information, not advice.","answer":"Yes. The tools page has a calendar of due dates for LLPs, companies, GST and income tax from September 2026 to March 2027, with the law and sources for each date. It is general information, not advice."},{"id":"faq-ita2025","kind":"faq","pull":false,"title":"Which Income-tax Act applies now?","url":"/faq#q-ita2025","text":"which income-tax act applies now? both, for a while. income up to 31 march 2026 belongs to the income-tax act, 1961; income from 1 april 2026 is taxed under the income-tax act, 2025, whose first tax year is 2026-27. proceedings already under way continue under the 1961 act.","answer":"Both, for a while. Income up to 31 March 2026 belongs to the Income-tax Act, 1961; income from 1 April 2026 is taxed under the Income-tax Act, 2025, whose first tax year is 2026-27. Proceedings already under way continue under the 1961 Act."},{"id":"faq-tds-forms","kind":"faq","pull":false,"title":"Which forms are used for TDS returns from 2026-27?","url":"/faq#q-tds-forms","text":"which forms are used for tds returns from 2026-27? under the income-tax rules, 2026, forms 138 (salary), 140 (other payments to residents), 144 (payments to non-residents) and 143 (tax collected) replace forms 24q, 26q, 27q and 27eq.","answer":"Under the Income-tax Rules, 2026, Forms 138 (salary), 140 (other payments to residents), 144 (payments to non-residents) and 143 (tax collected) replace Forms 24Q, 26Q, 27Q and 27EQ."},{"id":"faq-llp-dates","kind":"faq","pull":false,"title":"When are an LLP’s annual filings due?","url":"/faq#q-llp-dates","text":"when are an llp’s annual filings due? form 11, the annual return, by 30 may; form 8, the statement of account and solvency, by 30 october.","answer":"Form 11, the annual return, by 30 May; Form 8, the statement of account and solvency, by 30 October."},{"id":"faq-gst9","kind":"faq","pull":false,"title":"When is the GST annual return for 2025-26 due?","url":"/faq#q-gst9","text":"when is the gst annual return for 2025-26 due? gstr-9 and, where it applies, gstr-9c are due by 31 december 2026.","answer":"GSTR-9 and, where it applies, GSTR-9C are due by 31 December 2026."},{"id":"faq-apply","kind":"faq","pull":false,"title":"How do I apply for a role or articleship?","url":"/faq#q-apply","text":"how do i apply for a role or articleship? use the request form and choose “articleship or careers”. please do not attach a cv to the form; the firm will reply with how to send one.","answer":"Use the request form and choose “Articleship or careers”. Please do not attach a CV to the form; the firm will reply with how to send one."},{"id":"faq-write","kind":"faq","pull":false,"title":"How do I ask the firm for information?","url":"/faq#q-write","text":"how do i ask the firm for information? use the request form on the contact page. the firm replies by email. nothing sent through the form creates an engagement, and it should not contain documents or details of a matter.","answer":"Use the request form on the contact page. The firm replies by email. Nothing sent through the form creates an engagement, and it should not contain documents or details of a matter."},{"id":"faq-advice-form","kind":"faq","pull":false,"title":"Will I get advice through the form?","url":"/faq#q-advice-form","text":"will i get advice through the form? no. the firm does not give advice through the form. replies are general until an engagement is agreed in writing.","answer":"No. The firm does not give advice through the form. Replies are general until an engagement is agreed in writing."},{"id":"faq-search","kind":"faq","pull":false,"title":"What is the “Search the site” tool?","url":"/faq#q-search","text":"what is the “search the site” tool? a search over this website’s own pages that answers in your browser. it quotes published text only, gives no advice and does not name clients.","answer":"A search over this website’s own pages that answers in your browser. It quotes published text only, gives no advice and does not name clients."},{"id":"faq-data","kind":"faq","pull":false,"title":"What personal data does the website collect?","url":"/faq#q-data","text":"what personal data does the website collect? only what you send through the request form (name, email, optionally organisation and telephone, and your message), plus, if you arrived from a campaign link, the campaign tags in that link. the page-usefulness buttons send no personal data.","answer":"Only what you send through the request form (name, email, optionally organisation and telephone, and your message), plus, if you arrived from a campaign link, the campaign tags in that link. The page-usefulness buttons send no personal data."},{"id":"faq-cookies","kind":"faq","pull":false,"title":"Does the website use cookies?","url":"/faq#q-cookies","text":"does the website use cookies? it sets no advertising or tracking cookies. display settings you choose are kept in your own browser only.","answer":"It sets no advertising or tracking cookies. Display settings you choose are kept in your own browser only."},{"id":"faq-display","kind":"faq","pull":false,"title":"Can I make the text larger or the contrast higher?","url":"/faq#q-display","text":"can i make the text larger or the contrast higher? yes. the “display” button at the top of every page sets text size, high contrast and reduced motion. the choice is remembered in your browser.","answer":"Yes. The “Display” button at the top of every page sets text size, high contrast and reduced motion. The choice is remembered in your browser."},{"id":"faq-print","kind":"faq","pull":false,"title":"Can I print a note?","url":"/faq#q-print","text":"can i print a note? yes. printing leaves out the menus, buttons and forms, so a note prints as plain text with its sources.","answer":"Yes. Printing leaves out the menus, buttons and forms, so a note prints as plain text with its sources."},{"id":"faq-advertisement","kind":"faq","pull":false,"title":"Is this website an advertisement?","url":"/faq#q-advertisement","text":"is this website an advertisement? no. it gives information about the firm in line with the institute’s guidelines on websites of members and firms. it is not a solicitation of work, and nothing on it is professional advice.","answer":"No. It gives information about the firm in line with the Institute’s guidelines on websites of members and firms. It is not a solicitation of work, and nothing on it is professional advice."},{"id":"term-advance-tax","kind":"term","title":"Advance tax","url":"/glossary#advance-tax","text":"advance tax meaning definition income tax paid during the year in which the income is earned, in instalments, rather than after the year ends. a taxpayer whose tax for the year, after tax deducted at source, is ₹10,000 or more pays 15, 45, 75 and 100 per cent by 15 june, 15 september, 15 december and 15 march. income-tax act, 2025, ss. 403–408","answer":"Advance tax: Income tax paid during the year in which the income is earned, in instalments, rather than after the year ends. A taxpayer whose tax for the year, after tax deducted at source, is ₹10,000 or more pays 15, 45, 75 and 100 per cent by 15 June, 15 September, 15 December and 15 March. (Income-tax Act, 2025, ss. 403–408) General information, not advice."},{"id":"term-annual-general-meeting-agm","kind":"term","title":"Annual general meeting (AGM)","url":"/glossary#annual-general-meeting-agm","text":"annual general meeting (agm) meaning definition the yearly meeting of a company’s members at which the financial statements are laid and, where due, the auditor is appointed. it must be held within six months of the end of the financial year, and the first within nine months. companies act, 2013, s. 96","answer":"Annual general meeting (AGM): The yearly meeting of a company’s members at which the financial statements are laid and, where due, the auditor is appointed. It must be held within six months of the end of the financial year, and the first within nine months. (Companies Act, 2013, s. 96) General information, not advice."},{"id":"term-aoc-4","kind":"term","title":"AOC-4","url":"/glossary#aoc-4","text":"aoc-4 meaning definition the form in which a company files its financial statements with the registrar of companies, within 30 days of the annual general meeting. companies act, 2013, s. 137","answer":"AOC-4: The form in which a company files its financial statements with the Registrar of Companies, within 30 days of the annual general meeting. (Companies Act, 2013, s. 137) General information, not advice."},{"id":"term-arm-s-length-price","kind":"term","title":"Arm’s length price","url":"/glossary#arm-s-length-price","text":"arm’s length price meaning definition the price that unrelated parties would agree for the same transaction in comparable conditions. transactions between associated enterprises are tested against it for transfer pricing. income-tax act, 2025 (transfer pricing provisions)","answer":"Arm’s length price: The price that unrelated parties would agree for the same transaction in comparable conditions. Transactions between associated enterprises are tested against it for transfer pricing. (Income-tax Act, 2025 (transfer pricing provisions)) General information, not advice."},{"id":"term-articleship","kind":"term","title":"Articleship","url":"/glossary#articleship","text":"articleship meaning definition the practical training a student of the institute of chartered accountants of india serves under a principal, a member in practice, before qualifying. its length, eligibility and stipend are set by the institute’s regulations. ","answer":"Articleship: The practical training a student of the Institute of Chartered Accountants of India serves under a principal, a member in practice, before qualifying. Its length, eligibility and stipend are set by the Institute’s regulations. General information, not advice."},{"id":"term-assessment","kind":"term","title":"Assessment","url":"/glossary#assessment","text":"assessment meaning definition the tax department’s examination of a return to determine the income and tax. a scrutiny assessment involves notices and questions; a reassessment reopens a completed year within the time limits the act allows. ","answer":"Assessment: The tax department’s examination of a return to determine the income and tax. A scrutiny assessment involves notices and questions; a reassessment reopens a completed year within the time limits the Act allows. General information, not advice."},{"id":"term-audit-quality-maturity-model-aqmm","kind":"term","title":"Audit Quality Maturity Model (AQMM)","url":"/glossary#audit-quality-maturity-model-aqmm","text":"audit quality maturity model (aqmm) meaning definition a framework of the institute of chartered accountants of india under which an audit firm assesses the maturity of its practice. a firm’s aqmm level is one of the particulars it may publish. ","answer":"Audit Quality Maturity Model (AQMM): A framework of the Institute of Chartered Accountants of India under which an audit firm assesses the maturity of its practice. A firm’s AQMM level is one of the particulars it may publish. General information, not advice."},{"id":"term-audit-trail","kind":"term","title":"Audit trail","url":"/glossary#audit-trail","text":"audit trail meaning definition a record, kept by accounting software, of every change made in the books: what changed, when and by whom. companies must use software with this feature switched on, and the auditor reports on it. companies (accounts) rules, 2014, r. 3(1)","answer":"Audit trail: A record, kept by accounting software, of every change made in the books: what changed, when and by whom. Companies must use software with this feature switched on, and the auditor reports on it. (Companies (Accounts) Rules, 2014, r. 3(1)) General information, not advice."},{"id":"term-caro-2020","kind":"term","title":"CARO 2020","url":"/glossary#caro-2020","text":"caro 2020 meaning definition the companies (auditor’s report) order, 2020. it lists matters, such as fixed assets, inventory, loans and statutory dues, on which the auditor of most companies must report in addition to the opinion on the accounts. ","answer":"CARO 2020: The Companies (Auditor’s Report) Order, 2020. It lists matters, such as fixed assets, inventory, loans and statutory dues, on which the auditor of most companies must report in addition to the opinion on the accounts. General information, not advice."},{"id":"term-chartered-accountant","kind":"term","title":"Chartered accountant","url":"/glossary#chartered-accountant","text":"chartered accountant meaning definition a member of the institute of chartered accountants of india. only a chartered accountant in practice, or a firm of them, may sign a company’s statutory audit report or a tax audit report. chartered accountants act, 1949","answer":"Chartered accountant: A member of the Institute of Chartered Accountants of India. Only a chartered accountant in practice, or a firm of them, may sign a company’s statutory audit report or a tax audit report. (Chartered Accountants Act, 1949) General information, not advice."},{"id":"term-cmp-08","kind":"term","title":"CMP-08","url":"/glossary#cmp-08","text":"cmp-08 meaning definition the quarterly statement in which a gst composition taxpayer declares and pays tax, by the 18th of the month after the quarter. cgst rules, 2017, r. 62","answer":"CMP-08: The quarterly statement in which a GST composition taxpayer declares and pays tax, by the 18th of the month after the quarter. (CGST Rules, 2017, r. 62) General information, not advice."},{"id":"term-composition-scheme","kind":"term","title":"Composition scheme","url":"/glossary#composition-scheme","text":"composition scheme meaning definition an optional gst scheme for smaller businesses under which tax is paid at a fixed rate on turnover, without input tax credit and with quarterly payment and an annual return. cgst act, 2017, s. 10","answer":"Composition scheme: An optional GST scheme for smaller businesses under which tax is paid at a fixed rate on turnover, without input tax credit and with quarterly payment and an annual return. (CGST Act, 2017, s. 10) General information, not advice."},{"id":"term-designated-partner","kind":"term","title":"Designated partner","url":"/glossary#designated-partner","text":"designated partner meaning definition a partner of an llp who is responsible for its compliance under the llp act. every llp needs at least two, one of whom is resident in india, and each needs a designated partner identification number. llp act, 2008, s. 7","answer":"Designated partner: A partner of an LLP who is responsible for its compliance under the LLP Act. Every LLP needs at least two, one of whom is resident in India, and each needs a designated partner identification number. (LLP Act, 2008, s. 7) General information, not advice."},{"id":"term-digital-personal-data-protection-act-2023","kind":"term","title":"Digital Personal Data Protection Act, 2023","url":"/glossary#digital-personal-data-protection-act-2023","text":"digital personal data protection act, 2023 meaning definition the indian law on personal data in digital form. it requires notice and consent, limits use to the stated purpose and gives people rights to access, correction and erasure. its rules were notified in 2025. ","answer":"Digital Personal Data Protection Act, 2023: The Indian law on personal data in digital form. It requires notice and consent, limits use to the stated purpose and gives people rights to access, correction and erasure. Its Rules were notified in 2025. General information, not advice."},{"id":"term-din-and-dir-3-kyc","kind":"term","title":"DIN and DIR-3 KYC","url":"/glossary#din-and-dir-3-kyc","text":"din and dir-3 kyc meaning definition a director identification number is issued to every company director. its holder confirms their details in dir-3 kyc once every three financial years, by 30 june, and within 30 days of a change in mobile number, email or address. g.s.r. 943(e), in force 31 march 2026","answer":"DIN and DIR-3 KYC: A director identification number is issued to every company director. Its holder confirms their details in DIR-3 KYC once every three financial years, by 30 June, and within 30 days of a change in mobile number, email or address. (G.S.R. 943(E), in force 31 March 2026) General information, not advice."},{"id":"term-dpt-3","kind":"term","title":"DPT-3","url":"/glossary#dpt-3","text":"dpt-3 meaning definition the annual return in which a company reports deposits and outstanding money or loans that are not deposits, due by 30 june (for 2026, accepted without additional fee to 31 july). companies (acceptance of deposits) rules, 2014, r. 16","answer":"DPT-3: The annual return in which a company reports deposits and outstanding money or loans that are not deposits, due by 30 June (for 2026, accepted without additional fee to 31 July). (Companies (Acceptance of Deposits) Rules, 2014, r. 16) General information, not advice."},{"id":"term-drc-01a","kind":"term","title":"DRC-01A","url":"/glossary#drc-01a","text":"drc-01a meaning definition the gst form for an intimation before a show-cause notice. it tells the taxpayer the amount the officer proposes to demand and allows payment or a reply before a formal notice issues. cgst rules, 2017, r. 142(1a)","answer":"DRC-01A: The GST form for an intimation before a show-cause notice. It tells the taxpayer the amount the officer proposes to demand and allows payment or a reply before a formal notice issues. (CGST Rules, 2017, r. 142(1A)) General information, not advice."},{"id":"term-form-11-llp","kind":"term","title":"Form 11 (LLP)","url":"/glossary#form-11-llp","text":"form 11 (llp) meaning definition an llp’s annual return, filed by 30 may each year. it records the partners, their contributions and changes during the year. llp act, 2008, s. 35; llp rules, 2009, r. 25","answer":"Form 11 (LLP): An LLP’s annual return, filed by 30 May each year. It records the partners, their contributions and changes during the year. (LLP Act, 2008, s. 35; LLP Rules, 2009, r. 25) General information, not advice."},{"id":"term-form-8-llp","kind":"term","title":"Form 8 (LLP)","url":"/glossary#form-8-llp","text":"form 8 (llp) meaning definition an llp’s statement of account and solvency, filed with the registrar by 30 october each year and signed by two designated partners. it is certified by an auditor where the llp’s accounts must be audited. llp act, 2008, s. 34; llp rules, 2009, r. 24","answer":"Form 8 (LLP): An LLP’s statement of account and solvency, filed with the Registrar by 30 October each year and signed by two designated partners. It is certified by an auditor where the LLP’s accounts must be audited. (LLP Act, 2008, s. 34; LLP Rules, 2009, r. 24) General information, not advice."},{"id":"term-form-no-26","kind":"term","title":"Form No. 26","url":"/glossary#form-no-26","text":"form no. 26 meaning definition the single tax audit report form under the income-tax rules, 2026, replacing forms 3ca, 3cb and 3cd for audits of tax year 2026-27 onwards. audits of 2025-26 are still reported in the old forms. ","answer":"Form No. 26: The single tax audit report form under the Income-tax Rules, 2026, replacing Forms 3CA, 3CB and 3CD for audits of tax year 2026-27 onwards. Audits of 2025-26 are still reported in the old forms. General information, not advice."},{"id":"term-forms-130-and-131","kind":"term","title":"Forms 130 and 131","url":"/glossary#forms-130-and-131","text":"forms 130 and 131 meaning definition certificates of tax deducted at source under the income-tax act, 2025, replacing form 16 (salary) and form 16a (other payments). income-tax rules, 2026","answer":"Forms 130 and 131: Certificates of tax deducted at source under the Income-tax Act, 2025, replacing Form 16 (salary) and Form 16A (other payments). (Income-tax Rules, 2026) General information, not advice."},{"id":"term-forms-138-140-143-and-144","kind":"term","title":"Forms 138, 140, 143 and 144","url":"/glossary#forms-138-140-143-and-144","text":"forms 138, 140, 143 and 144 meaning definition the quarterly tds and tcs statements under the income-tax act, 2025, replacing forms 24q (salary), 26q (other payments to residents), 27eq (tax collected) and 27q (payments to non-residents). they are due by 31 july, 31 october, 31 january and 31 may. income-tax rules, 2026, r. 219","answer":"Forms 138, 140, 143 and 144: The quarterly TDS and TCS statements under the Income-tax Act, 2025, replacing Forms 24Q (salary), 26Q (other payments to residents), 27EQ (tax collected) and 27Q (payments to non-residents). They are due by 31 July, 31 October, 31 January and 31 May. (Income-tax Rules, 2026, r. 219) General information, not advice."},{"id":"term-gstr-1","kind":"term","title":"GSTR-1","url":"/glossary#gstr-1","text":"gstr-1 meaning definition the gst statement of outward supplies, filed by the 11th of the following month, or quarterly by the 13th by taxpayers in the qrmp scheme. cgst act, 2017, s. 37","answer":"GSTR-1: The GST statement of outward supplies, filed by the 11th of the following month, or quarterly by the 13th by taxpayers in the QRMP scheme. (CGST Act, 2017, s. 37) General information, not advice."},{"id":"term-gstr-3b","kind":"term","title":"GSTR-3B","url":"/glossary#gstr-3b","text":"gstr-3b meaning definition the gst summary return through which tax is paid, filed by the 20th of the following month, or quarterly by the 22nd or 24th (by state) in the qrmp scheme. cgst act, 2017, s. 39","answer":"GSTR-3B: The GST summary return through which tax is paid, filed by the 20th of the following month, or quarterly by the 22nd or 24th (by state) in the QRMP scheme. (CGST Act, 2017, s. 39) General information, not advice."},{"id":"term-gstr-9-and-gstr-9c","kind":"term","title":"GSTR-9 and GSTR-9C","url":"/glossary#gstr-9-and-gstr-9c","text":"gstr-9 and gstr-9c meaning definition the gst annual return and the reconciliation statement between the annual return and the audited accounts, due by 31 december after the year. each applies above a turnover threshold. cgst act, 2017, s. 44","answer":"GSTR-9 and GSTR-9C: The GST annual return and the reconciliation statement between the annual return and the audited accounts, due by 31 December after the year. Each applies above a turnover threshold. (CGST Act, 2017, s. 44) General information, not advice."},{"id":"term-input-tax-credit","kind":"term","title":"Input tax credit","url":"/glossary#input-tax-credit","text":"input tax credit meaning definition gst paid on purchases that a registered business may set off against the gst it owes on its sales, subject to conditions, including that the supplier has reported the invoice. cgst act, 2017, s. 16","answer":"Input tax credit: GST paid on purchases that a registered business may set off against the GST it owes on its sales, subject to conditions, including that the supplier has reported the invoice. (CGST Act, 2017, s. 16) General information, not advice."},{"id":"term-invoice-furnishing-facility-iff","kind":"term","title":"Invoice Furnishing Facility (IFF)","url":"/glossary#invoice-furnishing-facility-iff","text":"invoice furnishing facility (iff) meaning definition an optional facility for taxpayers in the qrmp scheme to upload business-to-business invoices for the first two months of a quarter, by the 13th of the following month, so that buyers can take credit. ","answer":"Invoice Furnishing Facility (IFF): An optional facility for taxpayers in the QRMP scheme to upload business-to-business invoices for the first two months of a quarter, by the 13th of the following month, so that buyers can take credit. General information, not advice."},{"id":"term-limited-liability-partnership-llp","kind":"term","title":"Limited liability partnership (LLP)","url":"/glossary#limited-liability-partnership-llp","text":"limited liability partnership (llp) meaning definition a body corporate formed under the llp act, 2008, separate from its partners, in which a partner is not liable for another partner’s wrongful acts. a firm of chartered accountants may be constituted as one. ","answer":"Limited liability partnership (LLP): A body corporate formed under the LLP Act, 2008, separate from its partners, in which a partner is not liable for another partner’s wrongful acts. A firm of chartered accountants may be constituted as one. General information, not advice."},{"id":"term-llpin","kind":"term","title":"LLPIN","url":"/glossary#llpin","text":"llpin meaning definition the llp identification number the registrar assigns on incorporation. it appears on the llp’s documents and filings. ","answer":"LLPIN: The LLP identification number the Registrar assigns on incorporation. It appears on the LLP’s documents and filings. General information, not advice."},{"id":"term-mgt-7-and-mgt-7a","kind":"term","title":"MGT-7 and MGT-7A","url":"/glossary#mgt-7-and-mgt-7a","text":"mgt-7 and mgt-7a meaning definition the company annual return, filed within 60 days of the annual general meeting. small companies and one person companies use the shorter mgt-7a. companies act, 2013, s. 92","answer":"MGT-7 and MGT-7A: The company annual return, filed within 60 days of the annual general meeting. Small companies and one person companies use the shorter MGT-7A. (Companies Act, 2013, s. 92) General information, not advice."},{"id":"term-msme-1","kind":"term","title":"MSME-1","url":"/glossary#msme-1","text":"msme-1 meaning definition a half-yearly return, by 30 april and 31 october, of amounts a company owes to micro and small enterprises that have been outstanding for more than 45 days. ","answer":"MSME-1: A half-yearly return, by 30 April and 31 October, of amounts a company owes to micro and small enterprises that have been outstanding for more than 45 days. General information, not advice."},{"id":"term-peer-review","kind":"term","title":"Peer review","url":"/glossary#peer-review","text":"peer review meaning definition the review, under the institute of chartered accountants of india, of a practice unit’s audit work against the technical, professional and ethical standards. a firm’s peer review status is one of the particulars it may publish. ","answer":"Peer review: The review, under the Institute of Chartered Accountants of India, of a practice unit’s audit work against the technical, professional and ethical standards. A firm’s peer review status is one of the particulars it may publish. General information, not advice."},{"id":"term-pmt-06","kind":"term","title":"PMT-06","url":"/glossary#pmt-06","text":"pmt-06 meaning definition the gst challan through which taxpayers in the qrmp scheme pay tax for the first two months of a quarter, by the 25th of the following month. cgst act, 2017, s. 39(7)","answer":"PMT-06: The GST challan through which taxpayers in the QRMP scheme pay tax for the first two months of a quarter, by the 25th of the following month. (CGST Act, 2017, s. 39(7)) General information, not advice."},{"id":"term-qrmp-scheme","kind":"term","title":"QRMP scheme","url":"/glossary#qrmp-scheme","text":"qrmp scheme meaning definition quarterly return monthly payment: an option for gst taxpayers with aggregate turnover up to ₹5 crore to file returns quarterly while paying tax monthly. ","answer":"QRMP scheme: Quarterly Return Monthly Payment: an option for GST taxpayers with aggregate turnover up to ₹5 crore to file returns quarterly while paying tax monthly. General information, not advice."},{"id":"term-section-74a-gst","kind":"term","title":"Section 74A (GST)","url":"/glossary#section-74a-gst","text":"section 74a (gst) meaning definition the provision for gst demands relating to 2024-25 and later years. it has one time limit for all cases; whether fraud is involved now affects the penalty rather than the period. cgst act, 2017, s. 74a","answer":"Section 74A (GST): The provision for GST demands relating to 2024-25 and later years. It has one time limit for all cases; whether fraud is involved now affects the penalty rather than the period. (CGST Act, 2017, s. 74A) General information, not advice."},{"id":"term-show-cause-notice","kind":"term","title":"Show-cause notice","url":"/glossary#show-cause-notice","text":"show-cause notice meaning definition a formal notice asking a taxpayer to explain why a demand, penalty or other order should not be made. it states the provision, the amount, the period and the date by which to reply. ","answer":"Show-cause notice: A formal notice asking a taxpayer to explain why a demand, penalty or other order should not be made. It states the provision, the amount, the period and the date by which to reply. General information, not advice."},{"id":"term-statutory-audit","kind":"term","title":"Statutory audit","url":"/glossary#statutory-audit","text":"statutory audit meaning definition the audit of financial statements required by law, such as a company audit under the companies act, 2013 or an llp audit under rule 24(8) of the llp rules. it is work reserved to chartered accountants in practice. ","answer":"Statutory audit: The audit of financial statements required by law, such as a company audit under the Companies Act, 2013 or an LLP audit under rule 24(8) of the LLP Rules. It is work reserved to chartered accountants in practice. General information, not advice."},{"id":"term-tax-audit","kind":"term","title":"Tax audit","url":"/glossary#tax-audit","text":"tax audit meaning definition the audit of accounts required by income-tax law where turnover or receipts exceed prescribed limits. for 2025-26 it is reported under s. 44ab of the 1961 act by 30 september 2026; from tax year 2026-27 under s. 63 of the 2025 act in form no. 26. income-tax act, 2025, s. 63","answer":"Tax audit: The audit of accounts required by income-tax law where turnover or receipts exceed prescribed limits. For 2025-26 it is reported under s. 44AB of the 1961 Act by 30 September 2026; from tax year 2026-27 under s. 63 of the 2025 Act in Form No. 26. (Income-tax Act, 2025, s. 63) General information, not advice."},{"id":"term-tax-collected-at-source-tcs","kind":"term","title":"Tax collected at source (TCS)","url":"/glossary#tax-collected-at-source-tcs","text":"tax collected at source (tcs) meaning definition tax that a seller collects from a buyer on specified transactions and pays to the government. under the 2025 act it sits in s. 394. income-tax act, 2025, s. 394","answer":"Tax collected at source (TCS): Tax that a seller collects from a buyer on specified transactions and pays to the government. Under the 2025 Act it sits in s. 394. (Income-tax Act, 2025, s. 394) General information, not advice."},{"id":"term-tax-deducted-at-source-tds","kind":"term","title":"Tax deducted at source (TDS)","url":"/glossary#tax-deducted-at-source-tds","text":"tax deducted at source (tds) meaning definition tax that a payer deducts from a payment and pays to the government on the payee’s behalf. under the 2025 act non-salary deductions sit in tables in s. 393, and deposit is due by the 7th of the following month (30 april for march). income-tax act, 2025, s. 393","answer":"Tax deducted at source (TDS): Tax that a payer deducts from a payment and pays to the government on the payee’s behalf. Under the 2025 Act non-salary deductions sit in tables in s. 393, and deposit is due by the 7th of the following month (30 April for March). (Income-tax Act, 2025, s. 393) General information, not advice."},{"id":"term-tax-year","kind":"term","title":"Tax year","url":"/glossary#tax-year","text":"tax year meaning definition the twelve-month financial year used by the income-tax act, 2025, replacing the “previous year” and “assessment year” of the 1961 act. income from 1 april 2026 to 31 march 2027 is that of tax year 2026-27. income-tax act, 2025, s. 3","answer":"Tax year: The twelve-month financial year used by the Income-tax Act, 2025, replacing the “previous year” and “assessment year” of the 1961 Act. Income from 1 April 2026 to 31 March 2027 is that of tax year 2026-27. (Income-tax Act, 2025, s. 3) General information, not advice."},{"id":"term-transfer-pricing","kind":"term","title":"Transfer pricing","url":"/glossary#transfer-pricing","text":"transfer pricing meaning definition the rules requiring transactions between associated enterprises, cross-border and some domestic, to be priced at arm’s length and documented, with an accountant’s report filed before the return. ","answer":"Transfer pricing: The rules requiring transactions between associated enterprises, cross-border and some domestic, to be priced at arm’s length and documented, with an accountant’s report filed before the return. General information, not advice."},{"id":"term-udin","kind":"term","title":"UDIN","url":"/glossary#udin","text":"udin meaning definition unique document identification number: a number a chartered accountant generates on the institute’s portal for each report or certificate signed, so that its authenticity can be checked. ","answer":"UDIN: Unique Document Identification Number: a number a chartered accountant generates on the Institute’s portal for each report or certificate signed, so that its authenticity can be checked. General information, not advice."},{"id":"term-updated-return","kind":"term","title":"Updated return","url":"/glossary#updated-return","text":"updated return meaning definition a return filed after the belated and revised return windows, on payment of additional tax, to report income that was left out. it cannot reduce income or claim a refund. ","answer":"Updated return: A return filed after the belated and revised return windows, on payment of additional tax, to report income that was left out. It cannot reduce income or claim a refund. General information, not advice."},{"id":"disclaimer","kind":"legal","title":"Disclaimer","url":"/disclaimer","text":"disclaimer advice solicitation advertisement relationship","answer":"The website is information only. It is not an advertisement or a solicitation of work, and nothing on it is professional advice."}]