This blog post explains the new Section 194T of the Income Tax Act, which takes effect on April 1, 2025. It requires TDS on payments such as salary, remuneration, commission, bonus, and interest made by partnership firms and LLPs to their partners. The post outlines the 10% TDS rate (20% without a PAN), the ₹20,000 annual threshold, and the timing for deduction. It also clarifies which payments are exempt, including capital withdrawal, profit share, and expense reimbursement. Additionally, the post offers a checklist for firms and partners to ensure compliance and avoid penalties.

This blog post discusses a common issue for composition taxpayers whose GST registration was canceled before April 1, 2024, or who have already submitted GSTR-4 but received GSTR-3A notices. It explains that these notices result from a system error and can be ignored by the taxpayers affected, meaning no further action is needed. The post also provides guidance on how to raise complaints about other GST-related problems.

This simple guide explains Form 26A and how it helps TDS deductors avoid being "at fault" under Section 201. It covers the benefits, conditions for filing, how interest is calculated, and important court decisions that provide relief. This resource is clear and easy to understand for managing TDS compliance.

This guide explains TCS Return Form 27EQ for businesses and individuals. It covers its purpose, quarterly due dates, how to pay TCS using Challan 281, and the consequences of late filing or payment, such as interest and penalties. The text uses clear language for easy understanding, helping you stay compliant.

This blog post breaks down the recent GST Portal advisory about Table 3.2 of GSTR-3B. It explains that starting July 2025, details of inter-state supplies to unregistered persons, composition taxpayers, and UIN holders will be auto-filled and non-editable in GSTR-3B. This information will come directly from GSTR-1 or IFF. The advisory aims to cut down on mistakes and keep data consistent. The post also covers why this change is occurring, how to fix errors by amending GSTR-1/IFF or using GSTR-1A, and offers an action plan for taxpayers to ensure they report accurately and smoothly file their GST.

This blog post details the various consequences of not filing Income Tax Returns in India, including immediate financial penalties, loss of benefits like carrying forward losses or claiming refunds, and harsher repercussions such as best judgment assessment, heavy fines, and even prosecution.

This blog explains the key differences between ITR-3 and ITR-4, specifically for freelancers and consultants, outlining eligibility criteria and scenarios to help them choose the correct income tax return form.

This blog post announces the release of updated Tax Audit Forms 3CA-3CD and 3CB-3CD on the e-Filing portal. These updates are based on Notification No. 23/2025. It explains the purpose of these forms, identifies who must file them, and highlights the importance of knowing the new changes and meeting deadlines. The post stresses the need for proactive compliance to avoid penalties and positions myITROnline as a helpful partner for smooth tax audit and ITR filing.

This blog post alerts Indian taxpayers about the important need to report foreign Employee Stock Option Plans (ESOPs) in their Income Tax Returns. It describes what foreign ESOPs are and explains why disclosing them is required under laws like the "Black Money Act." Failing to comply can lead to a large penalty of 10,00,000 and possible jail time. The post also offers straightforward instructions on how and where to report these assets in ITR-2 or ITR-3, urging taxpayers to act quickly and recommending myITROnline for expert help.

The Income Tax Department has made it much easier to file ITR-2 by allowing online submission with pre-filled data. This change cuts down on manual entry, reduces mistakes, and makes it more convenient for individuals and HUFs who have different income sources. This blog post outlines these advantages and recommends myITROnline as a reliable partner for smooth tax filing.

This blog post deciphers the significant changes to Capital Gains Tax in India, effective from July 23, 2024, as introduced in the Union Budget 2024. It simplifies the concepts of Short-Term and Long-Term Capital Gains, detailing the new holding periods and updated tax rates for various assets like listed shares, equity and debt mutual funds, property, and gold. The article highlights key implications for taxpayers and emphasizes the importance of professional advice from Myitronline for navigating these complex rules and optimizing investment strategies.

India is embarking on a major tax reform, replacing its outdated Income Tax Act, 1961, with the New Income Tax Bill 2025. A parliamentary committee has proposed 285 changes to this draft legislation, aiming to simplify language, modernize provisions (including for digital assets), reduce litigation, and enhance taxpayer experience. This blog post breaks down the reasons behind this overhaul, the committee's role in suggesting extensive "corrective" changes, and the key implications for taxpayers as India moves towards a new tax regime from April 1, 2026.