Baniya Associates

AIS vs Form 26AS: Complete Comparison (Income Tax Guide 2026)

Ais vs Form 26AS

If you file an Income Tax Return (ITR) or verify your tax details, you have likely come across AIS and Form 26AS. While both documents are available on the Income Tax portal and contain tax-related information, they are not the same. Understanding the difference between AIS vs Form 26AS is essential for accurate tax filing, … Read more

Assessment Year vs Tax Year vs Financial Year: What’s the Difference?

Assessment Year vs Tax Year vs Financial Year

Understanding the difference between Assessment Year, Tax Year, and Financial Year is essential for every taxpayer in India. Whether you are filing an Income Tax Return (ITR), calculating tax liability, or planning your finances, knowing these terms can help you avoid mistakes and ensure timely compliance. Many taxpayers often get confused between the assessment year … Read more

ASISSE Return: Meaning, Applicability, Filing Process, Due Dates & Penalties

Asisse Return

Businesses in India are increasingly required to comply with various regulatory and statistical reporting obligations. One such recent compliance requirement is the ASISSE Return, introduced by the Ministry of Statistics and Programme Implementation (MoSPI). Many companies have started receiving notices regarding this return, leading to questions about its purpose, applicability, and filing process. In this … Read more

How to File ITR Without Form 16 (Complete Step-by-Step Guide)

file itr without form 16

Filing your ITR (Income Tax Return) is an essential responsibility for every taxpayer in India. However, many salaried individuals often face confusion when they don’t have Form 16. If you’re wondering how to complete your ITR filing without this document, don’t worry, you can still file accurately with the right information. What is Form 16 … Read more

ITR Filing 2026: New Rules, Due Dates & Common Mistakes

itr filing

Filing your income tax return is an essential responsibility for every taxpayer, and ITR Filing in 2026 comes with a few important updates. Whether you are a salaried employee, freelancer, or business owner, understanding the latest rules and deadlines can help you avoid penalties and ensure smooth compliance. The financial year 2025-26 brings changes in … Read more

TDS Master Table 2026-27: Complete TDS Rates, Sections & Chart (Income Tax Act 2025)

The income tax act plays a crucial role in shaping how taxes are collected and managed in India, especially through mechanisms like TDS (Tax Deducted at Source). With the introduction of updated provisions, understanding TDS has become essential for both individuals and businesses dealing with regular financial transactions. The updated framework under the income tax … Read more

GSTN Advisory: Mandatory Confirmation of Tax Liability Breakup in GSTR-3B from Feb 2026

GSTN advisory 2026

The GSTN advisory 2026 introduces a significant update for taxpayers filing their GSTR-3B returns. Starting from the February 2026 tax period, businesses will be required to confirm the tax liability breakup before submitting their returns. This step has been added to improve the accuracy of tax reporting and reduce common filing errors. As GST compliance … Read more

How MSMEs Drive Economic Growth and Employment in India

msme

Micro, Small, and Medium Enterprises play a crucial role in strengthening India’s economic structure. The msme sector contributes significantly to production, exports, and grassroots innovation across industries. By supporting small businesses and local entrepreneurship, it ensures that economic development reaches both urban and rural regions. In a diverse and growing economy, small enterprises create opportunities … Read more

How to File GST Returns

GST Return Filling

Filing GST returns is a regular responsibility for registered taxpayers in India, and understanding the process helps avoid errors, penalties, and unnecessary stress. GST return filing involves reporting details of sales, purchases, tax collected, and tax paid to the government within specified timelines. When done correctly, it ensures smooth compliance and accurate tax records. This … Read more

Union Budget 2026-27: Key Takeaways, Tax Changes & Major Announcements Explained

budget 2026

What is Union Budget? The Union Budget is the annual financial statement of the Government of India, presented in Parliament every year on 1st February. It outlines the government’s estimated revenue and expenditure for the upcoming financial year, in this case FY 2026–27. Through the Union Budget, the government announces important decisions related to income … Read more