Nitin Bhatia & Associates

07/01/2026

Important TDS Compliance Reminder

Today is the due date for TDS payment for the month of December 2025. Deductors who have deducted tax during December are required to deposit the same with the Income Tax Department within the prescribed timeline. Timely payment of TDS helps avoid interest, late fees, and potential notices from the department.

It is important to ensure that the correct challan is used, the PAN of the deductee is accurately mentioned, and the section under which TDS is deducted is properly selected. Any delay or mismatch may lead to difficulties while filing quarterly TDS returns or while deductees claim credit in their Form 26AS.

03/04/2025

Filing of Annual Return for LLPs

1. Mandatory Annual Return Filing: Every Limited Liability Partnership (LLP) must file its annual return with the Registrar within 60 days from the end of the financial year. The return must be duly authenticated and submitted in the prescribed form along with the required fee.

2. Penalties for Late Filing:

- If an LLP fails to file the annual return within the given period, it will incur a penalty of ₹100 per day of delay.

- The maximum penalty is ₹1 lakh for the LLP and ₹50,000 for each designated partner.

10/03/2025

Incorporation Document for Limited Liability Partnership

For a Limited Liability Partnership (LLP) to be legally incorporated, the following steps must be followed:

1. Subscription to Incorporation Document: At least two individuals must associate for a lawful, profit-driven business and subscribe their names to the incorporation document.

2. Filing with Registrar: The incorporation document must be filed with the Registrar of the State where the LLP’s registered office is located, following prescribed fees and procedures.

3. Compliance Statement: Alongside the incorporation document, a declaration in the prescribed form must be filed by an advocate, Company Secretary, Chartered Accountant, or Cost Accountant involved in forming the LLP. One of the subscribers must also confirm compliance with the LLP Act and its regulations.

The incorporation document must include:

- The prescribed form
- The LLP’s name
- The proposed business of the LLP
- The registered office address
- Names and addresses of partners
- Names and addresses of designated partners
- Any other required details

Penalty for False Statements

A person making a false or misleading statement under this section shall face imprisonment up to two years and a fine between ten thousand and five lakh rupees.

05/03/2025

LLP Incorporation Document: Key Requirements 📜

To incorporate an LLP:
✅ At least two persons must subscribe to the incorporation document for a lawful business.
✅ File the incorporation document with the Registrar of the State along with the prescribed fee.
✅ Submit a statement of compliance by a CA, CS, CMA, or advocate, along with a subscriber.

The incorporation document must include:
📌 LLP Name & Business Activity
📌 Registered Office Address
📌 Details of Partners & Designated Partners
📌 Any other prescribed information

⚠️ False statements may lead to imprisonment (up to 2 years) and fines ranging from ₹10,000 to ₹5 lakh.

04/03/2025

Liabilities of Designated Partners in an LLP

Designated partners in a Limited Liability Partnership (LLP) play a crucial role in ensuring legal compliance. They are:

✅ Responsible for all actions required under the LLP Act, including filing documents, returns, statements, and reports as per legal provisions and the LLP agreement.

✅ Liable for penalties imposed on the LLP for any non-compliance.

04/03/2025

📢 Important Compliance Alert for LLPs! ✅

🔹 Every Limited Liability Partnership (LLP) must file the details of individuals consenting to act as Designated Partners within 30 days of appointment in the prescribed form. 📑

🔹 Before appointment, an individual must give prior consent in Form 9. ✍️

🔹 Only eligible individuals who meet the prescribed conditions can be Designated Partners. ⚖️

🔹 Every Designated Partner must obtain a DPIN (Designated Partner Identification Number) from the Central Government, as per the Companies Act, 2013. 🔢

28/02/2025

🚀 Who Can Be a Partner in an LLP? 🤝

In a Limited Liability Partnership (LLP), any individual or body corporate can become a partner. However, a person cannot be a partner if:

❌ Declared of unsound mind by a competent court & the order is still in force.
❌ Is an undischarged insolvent.
❌ Has applied for insolvency adjudication, and the application is pending.

Choose the right partners for a strong & compliant LLP! ✅

27/02/2025

ITAT Ahmedabad Rules that Severance Compensation on Loss of Employment is Capital Receipt, Not Profits in lieu of Salary

https://www.nbaoffice.com/itat-ahmedabad-rules-that-severance-compensation-on-loss-of-employment-is-capital-receipt-not-profits-in-lieu-of-salary/

Introduction In a crucial judgment, the Income Tax Appellate Tribunal (ITAT) Ahmedabad has ruled in favor of the assessee, Mr. Sudhakar Ratan Shanker

26/02/2025

महाशिवरात्रि की हार्दिक शुभकामनाएँ! 🕉️🙏

भोलेनाथ की कृपा से आपके जीवन में सुख, शांति, समृद्धि और सफलता बनी रहे।

महादेव आपके सभी कष्टों का नाश करें और आपको आनंद, प्रेम और भक्ति से भर दें।

हर हर महादेव! 🚩🔱

ः_शिवायः

20/02/2025

High Court Quashes GST Demand and Show Cause Notice U/s 73, Citing That Retrospective Extension Does Not Apply to Expired Limitation Period

https://www.nbaoffice.com/high-court-quashes-gst-demand-and-show-cause-notice-u-s-73-citing-that-retrospective-extension-does-not-apply-to-expired-limitation-period/

Nowadays, the GST department issues various notices and orders to GST registration holders for past years, often leading to demand notices. However, GST

19/02/2025

Unutilized ITC for FY 2017-18 to 2020-21 Can Be Claimed under GST Until Nov 30, 2021: Madras High Court Quashes ITC Reversal

https://www.nbaoffice.com/unutilized-itc-for-fy-2017-18-to-2020-21-can-be-claimed-under-gst-until-nov-30-2021-madras-high-court-quashes-itc-reversal/

Introduction The new section 16(5) of the CGST Act allows taxpayers to claim Input Tax Credit (ITC) for a certain period. This is a helpful step by the

18/02/2025

GST Refund Claims: Court Directs fresh Adjudication and Permits Filing Under 'Others'" Category for Export of Services.

https://www.nbaoffice.com/gst-refund-claims-court-directs-fresh-adjudication-and-permits-filing-under-others-category-for-export-of-services/

Introduction Getting GST refunds has been challenging for industries when dealing with the GST department, especially for exports. Exporters need to prove