# taxcomplianc
12 posts in `taxcomplianc` tag
Landmark Madras HC Ruling: Hostels Now Classified as Residential, Not Commercial
The Madras High Court has ruled that hostels should be classified as residential properties, not commercial ones, for property tax and utility charges. This decision reduces costs for hostel operators, sets a legal precedent, and raises new questions about GST treatment of hostel rentals.
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By Krishna
Rise of the Machine: How AI is Changing Tax Compliance in India
India’s tax system is being reshaped by AI and Big Data. Through Project Insight, the Income Tax Department now tracks bank data, investments, and lifestyle transactions in real time, flagging anomalies and ensuring compliance.
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By Krishna
Supreme Court Protects CAs: Issuing Form 15CB Is Not Money Laundering
The Supreme Court of India has upheld that Chartered Accountants cannot be prosecuted for money laundering simply for issuing Form 15CB, as it is a statutory duty under the Income Tax Act. This ruling protects professionals from being unfairly targeted and clarifies the limited role of CAs in compliance matters.
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By Krishna
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
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
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
Tax Alert: TRACES Portal Sets 2-Year Limit for TDS/TCS Corrections
The Income Tax Department has shortened the correction window for TDS/TCS statements to just 2 years via the TRACES portal. This change affects deductors, collectors, and taxpayers alike. Corrections for older financial years (FY 2018-19 to FY 2023-24) must be filed by March 31, 2026. After that, no changes will be accepted. Learn what this means for you and how to act now.
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By Krishna
CBI Charges CGST Officer in Assets Case: Major Corruption Crackdown
The CBI has initiated an investigation against Assistant Commissioner Rati Ram Meena for allegedly possessing disproportionate assets of approximately ₹2.54 crore accumulated between August 2018 and August 2025. Searches in Jaipur, Ankleshwar, and Ahmedabad reportedly uncovered properties, high-end vehicles, jewellery worth ₹35 lakh, and documents indicating funds routed via family-linked entities.
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By Krishna
Refund Adjusted Against Outstanding Demand: What You Need to Know
If your income tax refund is adjusted against an old tax demand, it’s likely due to Section 245 of the Income Tax Act. This blog explains what the notice means, how to respond within 30 days, and what options you have. Learn how to protect your refund and keep your tax records clean.
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By Krishna
Income Tax Return & Audit Report Deadlines Extended for AY 2025–26
The Central Board of Direct Taxes (CBDT) has extended the deadlines for filing Income Tax Returns and audit reports for the Assessment Year 2025–26. This move offers relief to taxpayers and professionals by giving them more time to complete their filings.
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By Krishna
Tax Refunds Can’t Be Denied for Form 26AS Mismatch: High Court Ruling
The Allahabad High Court has ruled that tax refunds cannot be denied just because TDS is missing from Form 26AS. If a taxpayer provides valid Form 16A certificates, the Income Tax Department must verify the claim with the deductor instead of rejecting it outright. This protects honest taxpayers from delays caused by clerical errors.
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By Krishna