18 Jul, 2025
GST penalty notices: A bitter pill for small traders GST penalty notices issued to thousands of bakeries and small traders across Karnataka have triggered massive protests. Many of these businesses—some valued under ₹10 lakh—are being slapped with notices demanding up to ₹39 lakh. The mismatch between actual business scale and penalty amounts has brought GST […]
Read More18 Jul, 2025
GST Assessment Orders Quashed for Ignoring Natural Justice In a crucial judgment dated 18 July 2025, the Madras High Court quashed a batch of GST assessment orders on grounds of natural justice violation. The Court found that taxpayers were not given a proper opportunity to present their case during appeal rejection, prompting judicial intervention. This […]
Read More18 Jul, 2025
GST Portal Security Update: Aadhaar OTP Login from July 17 India’s GST portal is set for a major security upgrade from July 17, 2025, with Aadhaar-based OTP login and access controls via GSTN. These changes aim to tighten taxpayer data protection, align with global cybersecurity norms, and reduce fraud across GST filings. This update follows […]
Read More18 Jul, 2025
Income tax exemption for NOIDA under Section 10(46A) The Central Board of Direct Taxes (CBDT), via Notification No. 116/2025 dated 17th July 2025, has granted income tax exemption for NOIDA under Section 10(46A) of the Income-tax Act, 1961. This move, applicable from Assessment Year 2024–25, marks a policy shift towards incentivising public utility authorities involved […]
Read More18 Jul, 2025
GST Registration Rules for Digital Payments: What Karnataka Clarified On 11th July 2025, Karnataka’s GST Department issued a much-needed clarification on GST registration rules for traders using digital payment modes like UPI, card, or wallets. This comes after several media reports triggered panic among small traders, suggesting that even accepting UPI might force GST registration. […]
Read More18 Jul, 2025
Trade Connect ePlatform: A New Boost for MSME Exporters The Trade Connect ePlatform by DGFT is transforming how Indian MSMEs access global markets. With MSMEs contributing 34% of India’s exports, this platform is designed to digitally empower small exporters and simplify cross-border trade in line with national trade policy goals. What Is the Trade Connect […]
Read More18 Jul, 2025
Income Tax Exemption under Section 10(46A): CBDT Notifies NOIDA In a significant tax relief move, the New Okhla Industrial Development Authority (NOIDA) has been granted income tax exemption under Section 10(46A) of the Income Tax Act, 1961. This comes via CBDT Notification No. 116/2025 dated 17 July 2025, and is applicable from AY 2024–25 onwards. […]
Read More18 Jul, 2025
A Quick Guide to Tax on Stock Market Trading in India If you’re trading in stocks—whether it’s intraday, F&O, or long-term investing—tax on stock market trading is not optional. The Income Tax Department has clear rules, and non-compliance can lead to audit triggers or penalties. Here’s a simplified guide to understand how various stock transactions […]
Read More18 Jul, 2025
GST Payment via UPI: Seamless Tax Compliance for Businesses This major update by GSTN enhances compliance ease, especially for small businesses and professionals preferring fast, mobile-friendly solutions. Why UPI for GST Matters UPI (Unified Payments Interface), backed by the National Payments Corporation of India (NPCI), has revolutionised digital payments in India. Its integration into the […]
Read More18 Jul, 2025
Forms 3CA-3CD and 3CB-3CD enabled on e-Filing portal: What businesses must know The Income Tax Department has activated Forms 3CA-3CD and 3CB-3CD on its e-Filing portal for Assessment Year 2025–26, aligning with the CBDT’s due date extension to 15 September 2025 for filing tax audit reports. These forms are essential under Section 44AB of the […]
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