18 Jun, 2025
Why Validated Bank Account Matters for Tax Refunds Having a validated bank account on the Income Tax e-filing portal is mandatory for receiving refunds without delays. As per CBDT guidelines, unvalidated or incorrect bank details are one of the top reasons why taxpayers miss out on timely refunds. Key Reasons: How to Add a New […]
Read More18 Jun, 2025
Introduction: Understanding TDS rules for online ads, software tools, and e-commerce sales is critical for Indian businesses today. With digital transactions growing, so do tax compliance challenges. This blog breaks down key sections, official clarifications, and practical tips for smooth compliance. Key TDS Sections for Digital Transactions 1️⃣ Section 194C: Payments to Contractors 👉 Expert […]
Read More18 Jun, 2025
Introduction May Impress a Math Student but not tax law — this was the clear message when the Income Tax Appellate Tribunal (ITAT) recently struck down an Assessing Officer’s (AO) attempt to add ₹5.39 crore to a taxpayer’s income based only on extrapolating two days’ sales bills. Let’s break down this key ruling, its legal […]
Read More18 Jun, 2025
Advance Tax Collection Falls 2% What’s Causing It? Focus keyphrase: Advance Tax Collection India’s advance tax collection has dropped by 2% for FY 2025-26. One overlooked reason is the delay by the Income Tax Department in releasing key resources like ITR forms and the Cost Inflation Index (CII). This slows down taxpayer compliance and planning. […]
Read More18 Jun, 2025
ICAI Tax Audit Limit FY27 What’s Changing? From Financial Year 2026-27, the ICAI Tax Audit Limit FY27 introduces a strict ceiling: Source: As per recent ICAI guidelines aligning with Section 44AB of the Income Tax Act and Council decisions. Why Has ICAI Imposed This Limit? ICAI’s primary objectives: This move also echoes the intent behind […]
Read More18 Jun, 2025
Intro Paragraph GST Revenue in Bengal has shown a sharp increase this year — clocking a 9.5% growth compared to 5% in the previous fiscal. This jump reflects better compliance, revived business activity, and stricter enforcement. In this blog, Efiletax breaks down what this means for taxpayers and the state economy. Latest Official Figures As […]
Read More18 Jun, 2025
GST on Flavoured Milk What Dairy Businesses Must Know Is GST on flavoured milk confusing you? You’re not alone. Dairy players across India want a clear 5% GST, matching curd and lassi rates. Let’s break this down with official updates and court references. How GST Currently Treats Flavoured Milk Legal References Industry’s Stand: Fix GST […]
Read More18 Jun, 2025
GSTR-1 and GSTR-3B Mismatch Latest Legal Update GSTR-1 and GSTR-3B mismatch has become a common headache for GST-registered businesses. Many taxpayers fear that any difference between these two returns automatically means tax recovery under Section 75(12) of the CGST Act, 2017. But recent legal interpretations say otherwise. In this blog, we break it down in […]
Read More18 Jun, 2025
A Shocking Black Money Case Involving a GST Officer A recent incident involving a GST officer black money case has raised eyebrows across India’s compliance community. The officer reported a theft of ₹6.95 lakh from his house but is now under scrutiny for allegedly hoarding ₹34 lakh in unaccounted cash. This headline-grabbing story underlines an […]
Read More18 Jun, 2025
Increased I-T Scrutiny What NGOs & HNIs Must Know The Income Tax Department has intensified scrutiny of NGOs and HNIs in recent years. From tighter checks on donations to re-examining old cases, tax officers are actively verifying exemptions, source of funds, and past filings. This blog explains how NGOs and high-net-worth individuals can manage increased […]
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