Krishna Gopal Varshney
- An editor at apnokaca
Krishna Gopal Varshney Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.
The Latest from Krishna Gopal Varshney
Breaking: Presumptive Taxation Moves to Section 58 - Complete Guide
The Income Tax Act 2025 introduces Section 58, replacing Section 44AD for presumptive taxation of small businesses. This provision applies to eligible assessees with turnover up to ₹2-3 crore, offering simplified tax computation at 6% for digital transactions and 8% for other receipts, or actual profit—whichever is higher. The change promotes digital payments and reduces compliance burden for small businesses while maintaining revenue collection efficiency.
MCA Extends DIR-3 KYC Deadline to October 15, 2025 - File Without Fees
The Ministry of Corporate Affairs has extended the DIR-3 KYC filing deadline from September 30, 2025 to October 15, 2025, without any filing fees. This compliance requirement applies to all directors holding a DIN. Directors can file either DIR-3 KYC (with DSC) or DIR-3 KYC-WEB (OTP-based) forms. Non-compliance will result in DIN deactivation, penalties up to ₹5,000, and disqualification from director appointments. The extension follows stakeholder representations requesting additional time for compliance.
ITAT Ahmedabad: No Penalty for Late TDS Remittance under Section 271C
In a landmark ruling, ITAT Ahmedabad has held that penalty under Section 271C of the Income Tax Act is not applicable for delayed remittance of TDS, provided the tax was deducted and paid with interest. This decision, based on Supreme Court precedent, offers relief to taxpayers facing procedural delays.
ITR Filing Deadline Extended: Relief for Tax Audit Cases
The Gujarat High Court has directed the CBDT to extend the Income Tax Return (ITR) filing deadline for tax audit cases from October 31 to November 30, 2025. This move provides much-needed relief to taxpayers and professionals, allowing more time for accurate filing and reducing stress.
CBIC Announces 90% Quick Refund for Businesses A Major Relief
The CBIC has rolled out a provisional refund mechanism allowing eligible businesses to receive 90% of their GST refunds upfront from October 1, 2025. This move targets industries facing cash flow issues due to inverted duty structures and aims to accelerate business operations and growth.
GST Removed on Insurance But Agents Are Paying the Price
The government has eliminated the 18% GST on life and health insurance premiums effective October 1, 2025. While this benefits customers by lowering costs, insurance agents—especially those working with private insurers—are facing commission cuts of up to 18% due to the loss of input tax credit. Public insurers are absorbing the GST cost, but private companies are passing it on to agents.
Faster Cheque Settlements: RBI’s Big Update from October 2025
The Reserve Bank of India is launching a faster cheque clearing system from October 4, 2025. Cheques will now be processed continuously throughout the day, reducing settlement time from 1–2 days to just a few hours. This change benefits both individuals and businesses by improving cash flow and reducing fraud risks.
Default Isn’t Always Best: How to Choose the Right Tax Regime in 2025–26
India's income tax system has undergone a major shift for FY 2025–26, with the New Tax Regime now set as the default. This blog breaks down the differences between the New and Old Regimes, compares tax slabs, and helps taxpayers decide which option suits them best. Whether you're a young professional or a seasoned investor, understanding these changes is key to smarter tax planning.
Provisional GST Refunds: Faster Relief for IDS-Affected Businesses
Starting October 1, 2025, businesses affected by inverted duty structure (IDS) can now receive 90% of their GST refund upfront. This move by CBIC aims to ease working capital pressure and improve cash flow for industries like textiles, footwear, and fertilizers. Learn how this change impacts your business and what steps you need to take.
