The Madras High Court has cancelled major tax notices issued to Apollo Tyres Ltd. and MRF Ltd., ruling that voluntary tax payment cannot trigger the harsh penalties under Section 74. The court clarified that when confusion exists in the industry and companies show willingness to pay, the case falls under Section 73 for genuine mistakes. This decision offers clarity and relief to businesses facing similar disputes.

Simplify your year-end tax process. This guide cuts through the complexity of the annual GST return (GSTR-9) and highlights 25 critical errors the 'Red Flags' that often trigger government scrutiny. Use this checklist to safeguard your business before the deadline.

The annual Goods and Services Tax (GST) filing for the 2024-2025 financial year is quickly approaching. This post explains who needs to file the yearly return (GSTR-9) and the reconciliation statement (GSTR-9C), outlines the penalties for delays, and provides an essential checklist to ensure timely compliance.

A simple reminder and guide for taxpayers on the upcoming December 15th advance tax deadline, explaining who is liable and the simple steps to stay compliant.

Received an Income Tax notice (143(1) intimation)? Learn the clear steps to fix errors, including when to file a Revised Return (if the mistake is yours) or a Rectification Request (if the mistake is the department's).

The Government will soon release simplified ITR forms for AY 2026–27, aligned with the new Income-tax Act, 2025. These updated forms aim to make filing easier, reduce compliance burden, and reflect changes expected in Budget 2026. Here’s a quick, clear overview for taxpayers.

The Delhi High Court has cancelled duplicate GST demand notices (DRC-07) raised for the same transaction across different financial years, confirming that tax can only be demanded for the year in which the transaction occurred.

Section 112A of the Income Tax Act governs taxation of long-term capital gains on listed equity shares, equity-oriented mutual funds, and business trust units. It provides exemption up to 1,00,000 and levies 10% tax beyond that, without indexation benefit.

A clear, practical checklist for filing GSTR‑9 for FY 2024‑25. Covers revenue matching, ITC accuracy, RCM compliance, import alignment, reconciliation, and common filing pitfalls to help avoid scrutiny and penalties.

The government has permanently exempted businesses with turnover up to 2 Crores from filing GSTR-9. The move aims to reduce compliance burden while ensuring monthly and quarterly GST filings continue.

Starting 5th December 2025, businesses registered under GST must update their bank account details within 30 days of registration or before filing GSTR-1/IFF, whichever is earlier. As per Rule 10A, failure to comply will result in automatic suspension of GST registration. The update process requires furnishing bank account number, IFSC code, and a cancelled cheque or bank statement via the GST portal. While OIDAR and NRTP taxpayers are exempt, OIDAR taxpayers with a representative in India must provide bank details. Timely compliance ensures uninterrupted GST registration and avoids cancellation proceedings.

A simple guide to Section 80EEB, explaining how individuals can save up to ₹1,50,000 annually on EV loan interest, eligibility rules, and how to claim the deduction under the old tax regime.