13 Jun, 2025
Introduction:Ashoka Buildcon GST notice has sent shockwaves through the market, leading to a sharp fall in the company’s stock. The GST department’s search and seizure operation has sparked fresh concerns about tax compliance risks and the powers of authorities under the GST Act. In this blog, we simplify what this means for businesses, what the […]
Read More13 Jun, 2025
Zensar Technologies Hit with ₹1.76 Cr Tax Penalty: What You Should Know Zensar Technologies, a leading Indian IT services firm, has been slapped with an income tax penalty of ₹1.76 crore. The penalty order was issued by the Income Tax Department under Section 270A of the Income-tax Act, 1961, citing under-reporting of income. Let’s break […]
Read More13 Jun, 2025
Will Health Insurance Become Cheaper? GST Council to Decide Soon GST on health insurance premiums is back in focus. With rising healthcare costs and increased awareness post-COVID, the GST Council is expected to take a final call before the upcoming Monsoon Session of Parliament. Currently, health insurance premiums attract 18% GST, making them expensive for […]
Read More13 Jun, 2025
IntroductionGST filing gets tougher from July 2025, with the government tightening norms for GSTR-3B accuracy. Taxpayers can no longer afford mismatches between GSTR-1 and 3B, especially for Input Tax Credit (ITC) claims. In this blog, we break down the implications of the new compliance regime, based on the latest CBIC circulars and High Court rulings. […]
Read More13 Jun, 2025
India Eyes 5% GST on Crude Ethanol to Power Flex-Fuel Vehicles In a major policy nudge towards cleaner energy, Union Minister Nitin Gadkari has urged the GST Council to reduce the GST on crude ethanol to just 5%, aligning it with the green transport vision. His remarks come amid rising crude imports and the urgent […]
Read More13 Jun, 2025
Intro Paragraph:As ITR filing begins, many taxpayers are facing frustrating issues like login errors, alert messages, and slow response times on the Income Tax Portal. With the deadline approaching and millions expected to file under Section 139(1), these glitches are triggering anxiety across India. What’s Happening: Common Portal Issues Reported Here’s what users are encountering […]
Read More13 Jun, 2025
Introduction: Classification of Non-Corporate Entities is crucial for deciding audit requirements, disclosure formats, and tax compliance levels. Whether you’re a CA, tax consultant, or small business owner, this classification impacts how books are maintained and whether tax audit under Section 44AB applies. What Are Non-Corporate Entities? Non-corporate entities are businesses or organisations not registered as […]
Read More13 Jun, 2025
Making Form 15CB for Royalty/Fee for Technical Service Invoice Foreign remittances for royalty or Fee for Technical Services (FTS) require tax compliance under the Income-tax Act, 1961. Let’s break it down clearly for Indian professionals, consultants, and businesses. What is Form 15CB? It certifies the taxability of a foreign remittance and confirms that TDS (Tax […]
Read More13 Jun, 2025
DGFT Updates Contact Details for RCMC Under FTP 2023 In a recent amendment, the Directorate General of Foreign Trade (DGFT) notified changes to the name and contact information of certain Export Promotion Councils authorized to issue Registration-Cum-Membership Certificates (RCMCs) under the Foreign Trade Policy (FTP) 2023. This update ensures better clarity and ease for exporters […]
Read More13 Jun, 2025
NABARD Zero Coupon Bond Tax Notification What You Must Know In a recent update, CBDT notified NABARD Zero Coupon Bond worth ₹19,500 crore under the Income-tax Act, 1961. This move falls under Section 10(15)(iv)(h), making these bonds eligible for income tax exemption on interest. Here’s a simple breakdown of what this means for taxpayers and […]
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