30 Jul, 2025
AEO Certificates in India: Trade Boost via CBIC’s 5,800+ Approvals The CBIC has issued over 5,800 Authorised Economic Operator (AEO) certificates in India to exporters and importers. This move aims to fast-track customs clearance and simplify trade compliance—crucial for India’s export growth and logistics efficiency. Let’s break down what the AEO program means, how it […]
Read More30 Jul, 2025
CBDT Amends Rule 21AK to Include FPIs and OTC Derivatives Rule 21AK amendment is now notified by the CBDT via the Income-tax (Twentieth Amendment) Rules, 2025. It expands the scope of tax exemptions for foreign investors by recognising Foreign Portfolio Investors (FPIs) and certain Over-the-Counter (OTC) derivatives. This change impacts non-resident taxation for AY 2025–26 […]
Read More30 Jul, 2025
Export compliance reforms in India are driving faster clearances, reduced paperwork, and improved transparency. From DGFT to Customs, the government is modernising export systems to support MSMEs, reduce fraud, and boost ease of doing business. Key Government Initiatives for Export Compliance Here’s a snapshot of major reforms taken to streamline India’s export compliance framework: 1. […]
Read More30 Jul, 2025
ITR-2 Filing for Debt Mutual Funds: Tax Rules You Must Know From FY 2023–24, taxation of debt mutual funds has changed significantly. If you’ve sold any non-equity mutual fund units, including debt, international, gold, or even conservative hybrid funds, this blog will help you file ITR-2 accurately and avoid notices. Let’s break it down using […]
Read More30 Jul, 2025
CESTAT Decisions 2025: Overview for Indirect Taxpayers The CESTAT decisions 2025 offer critical clarity on legacy tax issues under customs, excise, and service tax laws. Despite GST being in place, disputes under earlier regimes are still being heard and settled. These rulings shape how businesses deal with audits, appeals, and legacy liabilities. Below is a […]
Read More30 Jul, 2025
Understanding Cost of Improvement in Capital Gains Capital Gains = Sale Consideration – (Cost of Acquisition + Cost of Improvement + Transfer Expenses) In this blog, we’ll explain what qualifies as cost of improvement while calculating capital gains under the Income Tax Act, 1961. What is Cost of Improvement? As per Section 55(1)(b) of the […]
Read More30 Jul, 2025
GST not applicable on license fee by electricity regulator The Supreme Court has dismissed a Special Leave Petition (SLP) against the Delhi High Court’s landmark judgment, which held that GST is not applicable on license fees charged by Electricity Regulatory Commissions. This decision clarifies a long-standing confusion in the power sector and reaffirms the position […]
Read More30 Jul, 2025
Excel Utility for Updated ITR-1, ITR-2: Now Live for AY 2021–22 & 2022–23 The Excel utility for updated ITR-1 and ITR-2 is now available for Assessment Years 2021–22 and 2022–23. This enables taxpayers to file ITR-U (Updated Return) under Section 139(8A) using a simplified offline process. If you missed filing or need to correct income […]
Read More30 Jul, 2025
ITR-3 Now Available for Online Filing: What You Must Know The ITR-3 now available for online filing marks a key milestone in the Income Tax Return (ITR) process for Assessment Year 2025–26. If you’re an individual or HUF having income from business or profession, this form is for you. The Income Tax Department has enabled […]
Read More30 Jul, 2025
ITR Filing for ESOP Holders with Foreign Income If you’ve received ESOPs from a foreign company, your ITR isn’t just a regular return — you need to disclose foreign income, assets, and dividends under specific schedules. Failure to do so could trigger scrutiny, penalties, or even notices under the Black Money Act. This guide simplifies […]
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