15 Jul, 2025
Buying Property from an NRI? TDS Rules You Can’t Ignore If you’re buying property from an NRI, TDS on property purchase from NRI must be handled before you pay. This isn’t your standard 1% TDS like with Indian sellers. Here, the rate can go as high as 20%–23.92%, and non-compliance attracts hefty penalties. Let’s break […]
Read More15 Jul, 2025
GST Orders Digitally Authenticated – What It Means for Taxpayers As per the latest clarification, GST orders digitally authenticated on the portal are legally valid even without physical signatures. This update simplifies communication under GST and ensures faster compliance. Here’s what businesses, tax professionals, and consultants need to know. What Is a Digitally Authenticated GST […]
Read More15 Jul, 2025
Capital Gains Tax Rules Changed: What ITR-2 & ITR-3 Filers Must Know If you’re filing ITR-2 or ITR-3, the capital gains reporting rules have been updated for AY 2025–26. Whether you sold shares, mutual funds, or property last year — this affects you. The CBDT has revised Schedule CG, introduced new validation checks, and mandated […]
Read More15 Jul, 2025
Intro:Bogus ITR deductions are now a high-priority target for the Income Tax Department. In a recent crackdown, over 40,000 taxpayers withdrew fake claims worth ₹1,045 crore. With stricter data checks and AI-based scrutiny in FY 2024–25, filing inflated exemptions can lead to penalties, notices—or worse. Why Bogus ITR Deductions Are Under Scrutiny Over the past […]
Read More15 Jul, 2025
Karnataka GST notices spark panic among small traders The phrase Karnataka GST evasion notices has suddenly made headlines—and small shopkeepers in Bengaluru and other districts are now refusing UPI payments. Why? Because GST officers are reportedly using digital payment data to track unreported turnover. But is this fear justified? What does the law actually say? […]
Read More15 Jul, 2025
IGST on Aircraft Repairs Abroad: What Supreme Court Ruled The Supreme Court has ruled that Integrated GST (IGST) cannot be levied retrospectively on aircraft repair services carried out outside India. This landmark decision brings clarity to Indian airlines that send aircraft abroad for maintenance and overhaul. Focus keyphrase: IGST on aircraft repairs What Was the […]
Read More14 Jul, 2025
Large-Scale Crackdown on Fake ITR Deductions: A Wake-Up Call for Taxpayers The crackdown on fake ITR deductions by the Income Tax Department has exposed widespread misuse of exemptions and deductions. From inflated HRA to fake 80C claims, several organised rackets and individuals are now under the scanner. If you’re filing your return for AY 2025–26, […]
Read More14 Jul, 2025
GST Dispute Writ Rejected by Patna HC: Key Legal Takeaway The Patna High Court recently refused to entertain a GST writ petition in the case of M/s Raj Traders v. State of Bihar [CWJC No. 6491 of 2024, judgment dated 03.07.2024], citing the availability of an alternative statutory remedy—appeal before the GST Appellate Tribunal. This […]
Read More14 Jul, 2025
GSTR-1 B2C Reporting: Table 12B Not Mandatory, Says GSTN GSTN has officially clarified a key doubt troubling many taxpayers: Table 12B of GSTR-1 is not mandatory for B2C supplies. Taxpayers only need to make a dummy entry in Table 12A, not report state-wise breakup in Table 12B. This clarification resolves confusion after the April 2025 […]
Read More14 Jul, 2025
India’s Export Push: Role of Banks and MSMEs India’s export push is gaining momentum, with Union Minister Piyush Goyal stressing collaboration between banks, MSMEs, and exporters. At recent trade summits, he urged banks to act as “partners in progress,” supporting Indian businesses in global markets. This blog simplifies how MSMEs and banks are becoming central […]
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