19 Mar, 2025
Introduction Starting April 1, 2025, businesses with an annual turnover exceeding ₹100 crore must report invoices on the GST e-invoice portal within 30 days of issuance. Failure to comply will prevent invoice uploads, impacting Input Tax Credit (ITC) claims and reconciliation. Currently, e-invoice reporting is mandatory for businesses with turnover above ₹10 crore, but the […]
Read More18 Mar, 2025
Avoid Section 234C Interest: A Clever Tax Hack for Salaried Individuals in 2025 Missed paying advance tax on extra income like bank FD interest? Don’t worry! You can still avoid Section 234C interest (a 1% monthly penalty) by using a simple strategy: report your additional income to your employer and have them deduct more TDS […]
Read More17 Mar, 2025
Introduction In a landmark ruling, the Supreme Court of India has placed critical restrictions on the power of tax authorities to make arrests under the Customs Act, 1962, and the Central Goods and Services Tax (CGST) Act, 2017. This decision introduces procedural safeguards to prevent arbitrary arrests and ensures adherence to constitutional protections. The Supreme […]
Read More17 Mar, 2025
Textile Industry Faces GST Scrutiny Over Misclassification The Issue: Tax Evasion via Misclassification Recent investigations by the Central Goods and Services Tax (CGST) Department have revealed a widespread misclassification of textile processing activities by manufacturers across India. Several units are allegedly reporting transformative processes—such as bleaching, printing, and fabric treatment—under the 5% GST category for […]
Read More15 Mar, 2025
House Rent Allowance (HRA) Fraud: IT Department’s Crackdown Many salaried employees in India claim tax benefits under House Rent Allowance (HRA) by submitting rent receipts. However, some taxpayers resort to fraudulent means to reduce tax liability. The Income Tax (IT) Department is increasingly leveraging technology to detect fake HRA claims, and those caught can face […]
Read More15 Mar, 2025
Introduction The Income Tax Department has ramped up its scrutiny of taxpayers exploiting capital gains exemptions under Section 54F of the Income Tax Act. Investigations, particularly in Hyderabad, have uncovered widespread misuse, where individuals—especially high-net-worth professionals—falsely declare commercial properties as residential homes to evade taxes. This tightening of compliance aims to curb tax evasion and […]
Read More15 Mar, 2025
IndusInd Bank’s Financial Stability: RBI Clears the Air In recent times, speculation has surfaced regarding the financial health of IndusInd Bank Ltd., causing concerns among investors and depositors. The Reserve Bank of India (RBI) has stepped in to dispel doubts, confirming that the bank remains well-capitalized and financially stable. This article delves into RBI’s official […]
Read More15 Mar, 2025
Introduction The Reserve Bank of India (RBI) recently conducted an 8-day Variable Rate Reverse Repo (VRR) auction, but the response from banks remained subdued. This tepid demand raises concerns about banking sector liquidity, market interest rates, and overall economic momentum. In this article, we will explore why this auction faced weak participation, its implications for […]
Read More14 Mar, 2025
Introduction: The GST Debate on Insurance Premiums The Goods and Services Tax (GST) on health and life insurance premiums is currently 18%, making policies costlier for individuals and businesses. The central government has hinted at the possibility of fully exempting insurance premiums from GST, aiming to boost insurance penetration. However, the insurance industry is pushing […]
Read More14 Mar, 2025
Introduction The GST rate rationalisation exercise is set to bring significant changes to India’s tax structure, aiming to ease the burden on consumers while ensuring revenue neutrality. Recent reports indicate that the government is unlikely to introduce a 35% GST slab for specific goods like tobacco and aerated beverages, as initially proposed by the Group […]
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