31 Jul, 2025
MSME Bad Loans Falling in Public Sector Banks MSME bad loans in India’s public sector banks have seen a consistent decline over the past few years, according to data recently presented by the Finance Ministry in the Rajya Sabha. This is a positive signal for the economy, especially for the small business ecosystem, where credit […]
Read More31 Jul, 2025
ITAT Quashes Section 69A Addition: Relief for Cash Deposits During Demonetisation If you made cash deposits during the demonetisation period and later faced scrutiny under Section 69A of the Income-tax Act, a recent ITAT ruling may offer some relief. In a key judgment, the Tribunal deleted part of the income tax addition, holding that cash […]
Read More31 Jul, 2025
Online Gaming GST: Supreme Court Decision This Week The debate over 28% GST on online gaming may finally see clarity as the Supreme Court is set to hear the matter this week. The ruling will shape the future of India’s gaming industry, impacting both revenue and legality for platforms across the country. Why 28% GST […]
Read More31 Jul, 2025
RBI AIF Investment Rules for Banks and NBFCs: What Changed? The Reserve Bank of India (RBI) has tightened norms on investments in Alternative Investment Funds (AIFs) by regulated entities like banks and NBFCs. The revised AIF investment rules for banks and NBFCs are aimed at curbing evergreening of loans and improving transparency in fund-based exposures. […]
Read More31 Jul, 2025
ITC Reversal for Supplier’s Tax Default: What You Need to Know Input Tax Credit (ITC) is the backbone of GST, but it comes with strict compliance. One of the biggest risks for buyers is ITC reversal for supplier’s tax default — especially if the supplier doesn’t pay tax or fails to file GSTR-1/GSTR-3B properly. In […]
Read More31 Jul, 2025
FDI in Insurance & GST: What Parliament Said The recent discussions in Parliament have reignited debate around FDI in insurance and ongoing GST reform plans, both central to India’s financial system. While the insurance sector eyes deeper capital flow and global expertise, the Finance Ministry has signalled intent to streamline GST further — with major […]
Read More31 Jul, 2025
India Faces 25% US Tariffs: Impact on Trade & Compliance India is back in Washington’s crosshairs. Starting August 1, 2025, the United States will impose 25% tariffs on select Indian goods — citing “friendship misuse” and India’s continued purchase of Russian oil. But beyond geopolitics, what does this mean for Indian exporters, tax reporting, and […]
Read More31 Jul, 2025
What Is Tax Audit under Section 44AB? Tax Audit under Section 44AB of the Income-tax Act, 1961 is a mandatory compliance for certain businesses and professionals based on turnover, gross receipts, or presumptive taxation rules. ICAI released a revised Guidance Note in 2025, clarifying the audit procedures and documentation standards for Chartered Accountants. If your […]
Read More30 Jul, 2025
Income Tax crackdown on bogus refund claims: What you must know With the filing deadline for AY 2025–26 fast approaching, the Income Tax Department has intensified its crackdown on bogus refund claims. From AI-driven scrutiny to real-time TDS validation, the system is now aggressively flagging suspicious refund filings — especially those with fabricated deductions, inflated […]
Read More30 Jul, 2025
GST Slabs Simplification and Rate Cuts: What’s Coming in August? With the 54th GST Council Meeting expected next month, the government may finally move toward a two-rate structure and rationalise items across slabs. Here’s what it could mean for your business and tax planning. Why GST Slabs Simplification Matters India currently follows a multi-rate GST […]
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