This blog post examines the clarified disallowances under Section 37(1) of the Income Tax Act following the Finance Act 2022 amendment to Explanation 1. It details how expenses related to illegal activities, penalties, compounding fees, prohibited benefits/perks (like certain freebies), and violations of foreign laws are now more explicitly non-deductible, emphasizing the need for businesses to ensure compliance and maintain thorough documentation.

This guide explains Income Tax Returns (ITR) in India for AY 2025-26. It defines ITR, outlines the significant benefits of filing (like refunds, loan proof), details who must mandatorily file based on income thresholds (e.g., GTI > ₹3 Lakh in new regime) or specific high-value transactions (deposits > ₹1 Cr, foreign travel > ₹2 Lakh etc.), and clarifies exemptions, including the specific conditions for senior citizens over 75 under Section 194P.

The CBIC has notified the GST Appellate Tribunal (Procedure) Rules, 2025, effective April 24, 2025. These rules establish a detailed framework for the GSTAT, emphasizing mandatory e-filing via a dedicated portal, allowing hybrid hearings, and setting clear timelines. Key features aim to streamline GST dispute resolution, ensuring transparency, efficiency, and faster processing of appeals, thereby reducing the burden on High Courts and boosting taxpayer confidence.

This post explains Short-Term Capital Gains (STCG) tax in India for 2025 (FY 2024-25 & 2025-26). It defines capital assets, details holding periods for STCG classification (e.g., <=12 months for listed equity, <=24 months for property, <=36 months for others), explains STCG calculation, outlines tax rates (15% under Sec 111A for STT-paid equity/EOF vs. slab rates for other assets), and covers loss set-off/carry forward rules and ITR reporting.

Analyzes the feasibility of achieving zero income tax on 19.2 lakh earnings under India's new tax regime (FY 2025-26 / Section 115BAC). Details the regime's rules, standard tax calculation, and debunks the zero-tax claim by highlighting the reliance on disallowed deductions (HRA, LTA, flexi-allowances). Concludes it's unrealistic for most salaried individuals

This post details India's new 1% Tax Collected at Source (TCS) regulation, effective April 22, 2025, under Section 206C(1F). It applies to specific luxury goods (watches, art, yachts, etc.) when the sale value exceeds ₹10 lakh. The article explains the TCS mechanism, lists affected items, clarifies calculation, outlines buyer and seller responsibilities, differentiates it from Section 206C(1H), and highlights that the TCS paid is adjustable against the buyer's income tax liability.

An initial guide to Tax Deducted at Source (TDS) rates and thresholds for India's Financial Year 2025-26 (Assessment Year 2026-27), based on current provisions as of April 2025. Details include a comprehensive rate chart covering common sections, key considerations like PAN non-furnishing, recent threshold changes (e.g., for interest, rent, commissions), potential policy updates (like the status of Section 206AB), and essential compliance deadlines. The guide strongly emphasizes that final rates are contingent upon the Full Union Budget 2025.

The Indian government affirms there is no GST on UPI transactions exceeding 2,000. This post clarifies that the confusion arose from NPCI's March 2023 introduction of interchange fees (up to 1.1%) specifically for merchant payments over ₹2,000 made via PPI wallets; this fee is not GST and isn't paid by customers. Standard bank-to-bank UPI remains free due to the MDR waiver. The government actively supports UPI growth through incentive schemes.

This guide details Form 10AB, used by Indian charitable trusts, NGOs, and institutions for final or renewal registration/approval under Income Tax Sections 12A, 80G, and 10(23C). It clarifies the difference between Form 10A (provisional) and 10AB (final/renewal), outlines who must file, and explains the benefits and process of filing online via the Income Tax e-Filing portal. The post covers required documents, crucial deadlines (including the 6-month rules), discusses past extensions (like the June 30, 2024 deadline), the new condonation of delay facility, and the outcome of filing (5-year validity via Form 10AC).

This guide explains the purpose of an Income Tax Intimation notice received under Section 143(1) after filing your ITR. It details why the document is password-protected and provides the precise password format: your PAN number in lowercase followed immediately by your Date of Birth in DDMMYYYY format. Learn the step-by-step process to open the encrypted PDF, understand the calculation comparison within, and know what actions to take based on whether it shows a refund, demand, or no change.

This blog outlines the key changes to Form 3CD (Tax Audit Report) implemented by CBDT Notification 23/2025, which takes effect from Assessment Year 2025-26. It discusses possible updates in reporting related to MSME payments, Virtual Digital Assets (VDAs), concessional tax regimes, and depreciation, as well as the necessary steps for both taxpayers and auditors.

This blog post details the updated GST registration guidelines issued by the CBIC on April 17, 2025. It explains the challenges faced by businesses, outlines the typical solutions introduced (like risk-based approaches, standardized procedures, and clearer rules for verification), discusses the anticipated benefits such as faster processing and reduced compliance burden, and advises businesses on navigating the new regulations effectively. The goal is to clarify how these changes aim to simplify the process and reduce harassment, thereby improving the ease of doing business in India.