- info@openmac.co.in
- Level 1 GP Building, Kottayam, Kerala
Empowering Global Business with Expert Financial Solutions
We, OPENMAC, a highly experienced international accounting and management consultants based in India, continuously serving since two decades, dedicated to providing world-class financial solutions to businesses across the globe. With a deep understanding of international accounting standards, tax regulations, and compliance requirements, team OPENMAC help organizations navigate complex financial landscapes with precision and efficiency. Our team comprises seasoned professionals, including chartered accountants, tax advisors, and financial consultants, who bring extensive expertise to every client engagement.
Years of Global Expertise
Clients Served Worldwide
Client Retention Rate
World-Class Financial Solutions for Global Businesses
Benefits of Outsourcing
Outsourcing helps businesses work smarter and grow faster. It allows companies to save money, get expert help, and focus on their main goals. By outsourcing certain tasks, businesses can improve accuracy, stay flexible, and keep their data safe — all while getting more done with less effort.
Our Partnerships
Events & Updates
- Jun 23
INCOME TAX RELATED
Return of income for the Assessment Year 2026-27 for all assessee other than (a) corporate assessee or (b) non-corporate assessee (having income from business or profession and whose books of account are required to be audited under Income Tax Act, 1961 or under any other Act) or (c) working partner of a firm whose accounts are required to be audited under this Act or under any other Act or the spouse of such partner if the provisions of section 5A applies to such spouse or (d) an assessee who is required to furnish a report under section 92E.
July, 31 2026- Transition of Laws: Although the new Income Tax Act is in effect, ITR filings for the income earned during the 2025–26 financial year (AY 2026-27) are still governed by the older Income Tax Act, 1961.
- Foreign Assets Tracking: The CBDT has enabled taxpayers to view their Foreign Asset Information (CRS/FATCA) directly in the Annual Information Statement (AIS) on the e-filing portal.
- Revised Return Window: If you need to make corrections to your ITR, you can file a revised return between January and March 2027 by paying a late fee (ranging from ₹1,000 to ₹5,000 depending on your income threshold).
- Exemptions for IFSC Units: Specified payments, such as interest, dividends, and professional fees received by eligible International Financial Services Centre (IFSC) Units, are now exempt from TDS
- Jun 23
GOODS AND SERVICES TAX RELATED
- Appeals Deadline Extension: The last date to file GSTAT appeals has been extended to July 31, 2026, with a voluntary e-Way bill (EWB) closure facility also now active on the portal
- Gross Revenue Collections: Recent gross monthly GST collections stand strong at ₹1.94 lakh crore, driven by healthy domestic and import revenues.
- Structural Reforms (GST 2.0): The system has moved to a simplified three-tier slab structure (5%, 18%, and 40%), which abolished the former 12% and 28% categories, exempted health and life insurance from GST, and reduced taxes on various daily consumer goods.
- Input Tax Credit (ITC): System validations restrict excess ITC reclamation and ensure auto-populated values in Table 3.2 of GSTR-3B are non-editable. [1]
