10 Mar, 2026
Returned Letters Can Lead to Premises Verification The GST Department has introduced an important verification step for newly registered taxpayers by sending a “Welcome to GST Family” letter to the registered business address. While the letter appears to be a simple welcome message, it actually serves as a verification tool to confirm the existence of […]
Read More10 Mar, 2026
Introduction India’s tax administration has become highly data-driven and technology-enabled in recent years. With the integration of the GST and Income Tax databases through PAN-based data sharing, discrepancies between GST turnover and the income reported in Income Tax Returns (ITR) can now be automatically detected. For instance, if a business reports ₹2 crore turnover in […]
Read More09 Mar, 2026
If you are paying monthly rent above ₹50,000, you must comply with the provisions of Section 194-IB of the Income Tax Act. This rule requires tenants to deduct Tax Deducted at Source (TDS) on rent payments made to resident landlords. Introduced by the government in 2017, this provision helps the Income Tax Department track rental […]
Read More09 Mar, 2026
India’s Income Tax Department has uncovered a massive ₹70,000 crore tax evasion involving nearly 1.77 lakh restaurants across the country. The investigation, which intensified in February 2026, revealed that many restaurants manipulated their billing software (POS systems) to hide real sales and reduce tax liability. This crackdown shows how the government is increasingly using AI, […]
Read More07 Mar, 2026
The Reserve Bank of India (RBI) has proposed new draft guidelines on March 6, 2026, aimed at strengthening protection for bank customers against small-value digital frauds. With the rapid growth of digital payments such as UPI, mobile banking, and online transactions, cases of online fraud have also increased. The RBI’s proposal focuses on ensuring quicker […]
Read More07 Mar, 2026
As the financial year 2025–26 comes to an end, businesses registered under GST should review key compliance requirements before 31 March 2026. Completing year-end GST checks helps businesses avoid penalties, interest, and input tax credit (ITC) mismatches in the upcoming financial year. A timely review also ensures that tax records, invoices, and GST returns remain […]
Read More07 Mar, 2026
The Central Board of Direct Taxes (CBDT) has introduced the Income Tax (First Amendment) Rules, 2026, significantly expanding financial reporting requirements to include crypto assets, Central Bank Digital Currency (CBDC), and certain electronic money products. These amendments to the Income Tax Rules, 1962 will come into effect from 1 January 2026 and aim to improve […]
Read More06 Mar, 2026
Strong Growth in New Business Registrations India’s entrepreneurial ecosystem is witnessing impressive momentum. Despite global geopolitical tensions and economic uncertainties, the country continues to record strong growth in new business formations. According to a report published by The Economic Times in February 2026, India experienced a 41% increase in new company incorporations and a 44% […]
Read More06 Mar, 2026
The Madras High Court has delivered an important judgment for GST taxpayers in the case of Tvl. Platinum Marketing vs Assistant Commissioner. The Court clarified that when a taxpayer has already paid the late fee under Section 47 of the CGST Act for delayed filing of the annual return, the GST department cannot impose an […]
Read More05 Mar, 2026
Many taxpayers expect their income tax refund within a few weeks after filing their Income Tax Return (ITR). While the Income Tax Department has improved processing times in recent years, refunds can still get delayed due to verification issues, data mismatches, or technical errors. Understanding the common reasons behind refund delays can help taxpayers resolve […]
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