29 Jul, 2025
GST Record Handling in Spotlight After Drunk Clerk Sells Files as Scrap A shocking incident from Rajasthan has put the spotlight on GST record handling. A state tax clerk, allegedly intoxicated, sold key GST files to a scrap dealer for just ₹5,000. The files, reportedly worth crores in tax value, contained crucial documents like registration […]
Read More29 Jul, 2025
Tax Deductions for Individual and HUF Taxpayers: Overview The majority of income tax deductions and exemptions in India are structured to benefit individual and HUF taxpayers. These provisions not only reduce taxable income but also encourage savings, insurance, education, and health investments. From Section 80C to HRA, understanding these deductions can lead to significant tax […]
Read More29 Jul, 2025
Service Tax Excess Paid: What Courts Say on Malafide Intent When a taxpayer mistakenly pays excess service tax, can the department allege malafide intention? The key phrase—malafide—requires more than just suspicion. Indian courts have made it clear: in the absence of hard evidence, excess payment alone does not prove fraudulent intent. Let’s break this down […]
Read More29 Jul, 2025
Delhi HC Upholds GST Demand Over Fake ITC Claim In a significant ruling, the Delhi High Court dismissed a writ petition challenging a GST demand notice involving fake Input Tax Credit (ITC). The court found that the petitioner had allegedly availed fraudulent ITC without actual receipt of goods and, thus, was not entitled to bypass […]
Read More29 Jul, 2025
Supreme Court Upholds Retrospective Relief for IDS Refunds The Supreme Court’s dismissal of Revenue’s SLP on the amended Rule 89(5) refund formula marks a significant relief for exporters under the inverted duty structure (IDS). This decision allows retrospective application of the beneficial formula, ensuring fair refund of accumulated Input Tax Credit (ITC) on inputs. What […]
Read More29 Jul, 2025
Advance Payment Recovery in Supply Contracts: Delhi HC Ruling Explained The Delhi High Court recently upheld a civil court decree allowing the recovery of advance payment made in a supply contract, where goods were never delivered. Let’s break down what this means for Indian taxpayers and small businesses. Why This Matters for Advance Payment Recovery […]
Read More29 Jul, 2025
Intro:Credit card usage and income tax risks often go hand in hand when transactions are not properly tracked or disclosed. While swiping your card is routine, the Income Tax Department may view certain patterns as red flags, especially during scrutiny or faceless assessments. Understanding the Tax Angle on Credit Card Usage Credit cards are not […]
Read More29 Jul, 2025
UPI Biometric Payments: A New Era of PIN-Free Transactions The National Payments Corporation of India (NPCI) is preparing to introduce UPI biometric payments, allowing users to approve transactions via face recognition or fingerprint instead of a 4/6-digit PIN. This move could transform India’s digital payment landscape, offering faster, more secure, and inclusive options—especially for those […]
Read More29 Jul, 2025
GST on Apartment Associations: FM’s Clarification Explained In a recent Parliament statement, Finance Minister Nirmala Sitharaman clarified the long-standing confusion regarding GST on apartment associations, particularly on monthly maintenance charges collected by Resident Welfare Associations (RWAs) or housing societies. This blog simplifies the latest clarification, outlines the legal position, and answers common questions faced by […]
Read More29 Jul, 2025
Can You Claim Deduction under Section 57 Without Proof? The Income Tax Appellate Tribunal (ITAT) recently dealt with a case involving a disallowance of ₹58.83 lakh claimed as a deduction under Section 57 of the Income-tax Act, 1961. The amount was disallowed by the Assessing Officer due to insufficient evidence. But the ITAT wasn’t satisfied […]
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