# ca
12 posts in `ca` tag
Did Your Large Cash Deposit Trigger an Income Tax Notice? Don't Panic!
Large cash deposits in bank accounts often trigger Income Tax notices in India. Banks are required to report high‑value transactions, and the ITD may ask for clarification if deposits exceed thresholds. With proper documentation like invoices, sale deeds, or gift deeds you can explain the source of funds and avoid heavy taxes or penalties. Notices are not accusations but part of routine scrutiny.
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By Krishna
Supreme Court Relief: Buyer Not Liable for Seller’s Default on ITC
The Supreme Court has clarified that a genuine buyer cannot be denied Input Tax Credit (ITC) merely because the seller failed to deposit tax. In the case of Commissioner Trade & Tax Delhi vs. Shanti Kiran India Pvt. Ltd., the Court emphasized that if purchases are genuine, invoices valid, and payments made through banks, ITC should not be denied. This ruling strengthens taxpayer rights and prevents innocent buyers from being penalized for the seller’s default.
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By Krishna
Suo Moto Cancellation of GST Registration: Reasons, Process & How to Revoke It
This blog explains what Suo Moto cancellation of GST registration means, why it happens, and how businesses can respond and apply for revocation. It includes the reasons, forms, timelines, and tips to stay compliant.
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By Krishna
Supreme Court Backs Genuine Buyers: No ITC Denial for Seller’s Default
The Supreme Court has ruled that genuine buyers cannot be denied Input Tax Credit just because the seller failed to deposit tax or lost registration. This landmark decision under DVAT sets a strong precedent for GST cases too, ensuring fairness and protecting honest taxpayers.
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By Krishna
Intimation U/S 143(1): Your ITR is Processed Here's How to Respond
The Intimation under Section 143(1) is a routine message from the Income Tax Department after processing your ITR. It may confirm your return, show a refund, or raise a tax demand. This blog explains how to read the notice, respond correctly, and avoid penalties.
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By Krishna
Pay Zero Tax on 10 Crore Capital Gains: Your Guide to Strategic Reinvestment
Selling a big asset like property, stocks, or gold can lead to huge capital gains and a big tax bill. But if you reinvest smartly, you can claim full exemption under Section 54 or 54F, up to ₹10 Crore. This blog explains how to do it, the deadlines, and the rules to follow.
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By Krishna
Can You Claim Business Expenses During a No-Income Period?
This blog explains whether a business can claim deductions for expenses like rent, salaries, and utilities during a period of zero income. It focuses on Section 37(1) of the Income Tax Act and clarifies the difference between an idle business and one that never started. Includes a checklist to help taxpayers understand eligibility.
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By Krishna
our Tax Refund: Can It Go to Your Friend’s or Family’s Account?
Can your income tax refund go to someone else’s bank account? The answer is no — unless you're a legal heir claiming a refund for a deceased taxpayer. This blog explains why the Income Tax Department requires PAN-linked bank accounts and how to avoid refund failures by validating your account properly.
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By Krishna
Refund Returned by Bank? Here's How to Get Your Money Back
If your income tax refund shows “Refund Failed” or “Refund Returned by Bank,” it means your bank couldn’t accept the payment. This guide explains the common reasons for refund failure and walks you through the simple online steps to fix your bank details and request a refund reissue through the Income Tax portal.
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By Krishna
Refund Credited but Not Reflected in Bank What to Do?
Many taxpayers face the issue where their Income Tax refund status shows "Refund Credited" but the money doesn’t appear in their bank account. This guide explains why it happens, how to check your bank and portal details, and what steps to take to resolve it quickly.
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By Krishna
PAN Cards to Be Deactivated from January 1, 2026 If Not Linked with Aadhaar
The Indian government has set December 31, 2025, as the final deadline to link PAN cards with Aadhaar. Starting January 1, 2026, non-linked PANs will be deactivated, affecting tax filing, refunds, and financial services. Learn who needs to link, what happens if you don’t, and how to complete the process online or via SMS.
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By Krishna
GST Compliance Calendar November 2025
This blog provides a clear and simple calendar of all key GST return filing dates for November 2025. It helps GST-registered taxpayers stay compliant, avoid penalties, and plan their filings in advance.
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By Krishna