01 Jul, 2025
PwC India Calls for Overhaul in GST Three-Tier Rates & Petrol Inclusion The Goods and Services Tax (GST) has been India’s most significant indirect tax reform. However, even after seven years, complexities remain — from rate disputes to tax exclusions like petroleum. Now, a PwC India report proposes a bold move: adopt a three-tier GST […]
Read More01 Jul, 2025
Old vs New Tax Regime: Which One Should You Choose in FY 2024–25? Choosing the old vs new tax regime has become a crucial decision for Indian taxpayers in FY 2024–25. With different slabs, deductions, and savings potential, selecting the right option can impact your annual tax outgo. In this blog, we’ll decode both regimes […]
Read More01 Jul, 2025
GST Slab Simplification in India: What Taxpayers Should Know India’s Goods and Services Tax (GST) has now entered its ninth year, evolving into a more mature tax system. With consistent revenue growth and expanding taxpayer base, there’s growing buzz around one big reform – GST slab simplification. But will it happen soon? Let’s decode the […]
Read More01 Jul, 2025
GST Turns 8: Impact on Tax Collections & Compliance The Goods and Services Tax (GST) has completed 8 years since its historic rollout on 1st July 2017. What began as a bold reform to unify India’s complex indirect tax system has now matured into a robust, technology-driven regime showing record GST collections and improved compliance. […]
Read More01 Jul, 2025
Income Tax Compliance Calendar July 2025 Income Tax Compliance Calendar July 2025 is crucial for taxpayers, CAs, and businesses to avoid penalties and interest. With several key deadlines — from TDS payments to ITR filings — July is one of the busiest months in the income tax calendar. Let’s break it down week by week. […]
Read More01 Jul, 2025
GST Compliance Calendar for July 2025 Staying on top of your GST compliance calendar is crucial to avoid late fees, interest, and notices. Here’s a clear, updated list of all GST return due dates for July 2025, as per the latest CBIC guidelines. Why Follow the GST Compliance Calendar? Missing GST deadlines can lead to: […]
Read More30 Jun, 2025
ITAT Reduces Ad Hoc Disallowance to 4%: No Proof or Comparables Cited In a recent tax ruling, the Income Tax Appellate Tribunal (ITAT) significantly reduced an ad hoc disallowance from 10% to 4%. The key reason? The Income Tax Department failed to provide comparables, and the assessee couldn’t furnish proper proof. This decision, however, was […]
Read More30 Jun, 2025
Section 80P Deduction Allowed Despite Late e-Verification: ITAT Relief to Co-op Society If you’re a cooperative society wondering whether a delay in e-verification affects your Section 80P deduction, here’s a key update: the Income Tax Appellate Tribunal (ITAT) recently ruled that such delay is not a valid reason to deny the benefit — as long […]
Read More30 Jun, 2025
₹2.17 Cr Income, ₹30 Lakh Tax & No Real “Rewards”? What It Says About the Tax System in India A recent viral post on X (formerly Twitter) has reignited the debate around the tax system in India. A Bengaluru-based IT professional, reportedly earning ₹2.17 crore annually and paying nearly ₹30 lakh in taxes, was let […]
Read More30 Jun, 2025
NRI Property Investment: ITAT Ruling Simplifies Tax Jurisdiction Rules In a recent ITAT (Income Tax Appellate Tribunal) case, the addition made by the Assessing Officer (AO) was quashed due to jurisdictional lapses and improper reliance on bank statements and unsigned sale agreements. Let’s break this down for Indian taxpayers, NRIs, and consultants. The Case at […]
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