1.Penalty for Late Filing of Income Tax Return for FY 2024-25 – Section 234F of Income Tax Act
What is the Penalty for Late Filing of ITR?
| Particulars | Details |
| Applicable Section | Section 234F of the Income Tax Act |
| Maximum Penalty | ₹ 5,000 |
| Due Date (Non-Audit Cases) | On or before 16 September 2025 |
| Due Date (Audit Cases) | On or before 31 October 2025 |
| Due Date (Transfer Pricing Cases) | On or before 30 November 2025 |
| Penalty if Filed After Due Date | Up to ₹5,000 |
| Relief for Small Taxpayers | If total income ≤ ₹5 lakh, penalty restricted to ₹1,000 |
| Penalty if Filed Within Due Date | No penalty levied |
2.MSME Tech Extension Centres Initiative :
The MSME Ministry is setting up 3 Tech Extension Centres (ECs) in Maharashtra (Pune, Nagpur, Sindhudurg) under a national plan of 20 Technology Centres (TCs) and 100 ECs. Using a hub-and-spoke model, TCs will act as advanced technology hubs, while ECs will provide localized, low-cost support through existing government infrastructure.
Key focus areas include technology adoption (AI, IoT, AR/VR), Udyam registration & formalization, better access to collateral-free credit, and skilling & business advisory services.
For Maharashtra, these centres will support local industry clusters, improve MSME competitiveness, and expand grassroots access to technology, finance, and skills, benefiting especially women-led and smaller enterprises.
3. Got income tax refund email? Govt warns it could be a scam, tells taxpayers what to do immediately :
The Income Tax Department has warned taxpayers about a new surge of fake refund emails and messages aimed at stealing personal and financial information, advising people to ignore such communications and rely only on the official income-tax portal.
4.India’s RBI returns with decisive hand to halt rupee’s one-way slide : India’s RBI returns with decisive hand to halt rupee’s one-way slide. MUMBAI, Dec 17 (Reuters) – India’s central bank intervened aggressively in currency markets on Wednesday, selling dollars to prop up the rupee, bankers said, echoing its earlier heavy-handed efforts to stem a one-way decline in the currency.
5.RBI’s draft rule for weekly credit score updates will make your credit profile faster, more accurate, and fairer. Timely repayments will reflect sooner, enabling quicker loan/credit card approvals, better interest rates, and easier credit rebuilding, while also reducing fraud by limiting misuse of delayed reporting.
6. ICSI Launches Fast-Track Support for MCA21 V3 Filing Issues :
The Institute of Company Secretaries of India (ICSI) has introduced a fast-track grievance mechanism to help resolve MCA21 V3 e-filing problems that have been pending for more than 7 days. This aims to give professionals quicker support on technical or portal issues.
7. New Registrar of Companies (ROC) Jurisdictions Effective Jan 1, 2026 :
From 1 January 2026, the MCA is revamping RoC jurisdictions, creating more localized RoC offices (multiple RoCs in Delhi, UP, Maharashtra, Kolkata; new offices in Haryana and Nagpur) and expanding Regional Directorates from 7 to 10. The move aims to reduce compliance bottlenecks, speed up filings, and improve ease of doing business, requiring companies and LLPs to update their RoC jurisdiction mapping for future filings.
8. Compliance due dates from 20th December to 31st December :
| Date | Compliance / Return | Applicable To |
| 20 Dec | GSTR-3B (Monthly) | Regular GST taxpayers (Nov 2025) |
| GSTR-5A | OIDAR service providers | |
| Professional Tax payment | Applicable states | |
| 22 Dec | GSTR-3B (QRMP) | Quarterly taxpayers – Category X States |
| 24 Dec | GSTR-3B (QRMP) | Quarterly taxpayers – Category Y States |
| 30 Dec | TDS Return filing | Applicable deductors |
| 31 Dec | Belated / Revised ITR (AY 2025-26) | All taxpayers |
| GST Annual Return – GSTR-9 | Registered GST taxpayers | |
| GST Audit – GSTR-9C | Applicable taxpayers | |
| AOC-4 / AOC-4 XBRL | Companies (Financial Statements) | |
| MGT-7 / MGT-7A | Companies (Annual Return) | |
| PAN–Aadhaar Linking | Individuals & entities |