| The Central Board of Direct Taxes (CBDT) has issued a circular to waive off the demand raised upon the taxpayers due to the disallowance of section 87A rebate on the income that is chargeable to tax at a special rate. |
CBDT waives interest on demand raised due to disallowance of Sec. 87A rebate on income taxable at special rate
Revision of TDS Return before 31st March 2026
New Income Tax Act 2025 will be applicable from 0st April 2026
The Income Tax Act 1961 stands repealed w.e.f 01.04.2026 by virtue of section 536 of Income Tax Act 2025.
Correction Statement of TDS Returns
Further, as per section 397(3)(f) of Income Tax Act, 2025, deductor/collector may deliver a correction statement in such form and verified in such manner as may be prescribed, to the prescribed authority within two years from the end of the tax year in which such statement is required to be delivered under the said clauses or under section 200 of the Income-tax Act, 1961.
Can we litigate the issues even gst paid during gst audit under section 65 of CGST ACt 2027
A mid-sized company receives an audit notice under Section 65 of the CGST Act. The officers arrive, go through purchase records, ITC claims, and sales invoices. After a few weeks, they point out a potential short-payment of GST worth ₹150 lakhs, citing “ineligible ITC”.The CFO of the compant, worried about escalating matters, makes a payment through Form DRC-03 during the audit itself. The idea is simple – pay now, avoid penalties and extended proceedings.
But here’s where the doubt creeps in:
Does this payment mean the company has accepted the liability forever? Or can it still challenge the issue in future?
Whether the amount of Creditors balance unclaimed/untraceable and written-off/Back by way of crediting P&L Account is taxable under GST
1. Background
In the course of business, it is not uncommon to find outstanding balances in the names of trade creditors that remain unclaimed or where the supplier becomes untraceable. Many entities, after a reasonable period, choose to write off such balances by transferring them to the Profit & Loss Account. While the income-tax implications of such write-offs are well-settled under Section 41(1) of the Income-tax Act, 1961, the question arises—does such a write-off attract GST?
Should you file the income tax return of a deceased person? if yes who should do and how?
Yes, the Income Tax Return (ITR) of a deceased person must be filed, if that person had taxable income up to the date of death.
The Income-tax Act, 1961 clearly requires that legal heirs or representatives take responsibility for filing it. Here’s a structured explanation:
Top 5 Mistakes to Avoid While Filing Your Income Tax Return in AY 2025–26
As the due dates for filing Income Tax Returns (#ITRs) for Assessment Year (AY) 2025–26 approach, taxpayers and professionals alike must ensure that returns are filed accurately, timely, and in compliance with the latest regulatory changes. Despite increased awareness and digitization, several common errors continue to recur each year—some of which may lead to notices, penalties, or delayed refunds.
Here are the top five mistakes to avoid while filing your ITR this year:
What are non-compete fees | is GST applicable to professional fees on Non-Compete agreement
Is there GST on non-compete fees?
Is GST applicable on participation fees?
What are non-compete fees?
Is GST applicable to professional fees on Non-Compete agreement 
Let discuss:-
CA को बैठते समय किस ओर मुख करना चाहिए?
चार्टर्ड अकाउंटेंट (#CA) या कोई भी व्यक्ति जो बौद्धिक कार्य करता है — जैसे अकाउंटिंग, लॉ, टैक्सेशन, फाइनेंस, कंसल्टिंग — उसके लिए उत्तर-पूर्व दिशा (ईशान कोण) का विशेष महत्व है।
क्यों?
What is Faceless Assessment under the Income Tax proceeding |What you should do if you get a 144B / faceless notice
Section 144B of income Tax Act 1961 provides the statutory framework for faceless (electronic) income-tax assessments — i.e., assessments done through a National Faceless Assessment Centre (NaFAC) and assigned to remote units without any physical, face-to-face interface.
I am givng here Step-by-step flow that is 'what happens and where to look' when for faceless assessment:-
56th GST काउंसिल मीटिंग के सुधार से क्या प्रभाव पड़ेगा
1. सुधार की घोषणा और उद्देश्य
· GST स्लैब को सिर्फ दो प्रमुख दरों में घटाकर 5% और 18% किया गया।
· उच्च दर (28%, 12%) को कम कर मुख्य रूप से उपभोक्ता वस्तुओं पर टैक्स कम किया गया।
· उद्देश्य: टैक्स व्यवस्था सरल बनाना, उपभोक्ता वस्तुओं की कीमतें कम करना, घरेलू मांग बढ़ाना और अर्थव्यवस्था को बढ़ावा देना।
GST on installation SAD network system
56th GST Council Meeting Highlights – Key recommendations on GST Rate Changes
Recommendations of the 56th Meeting of the GST Council held at New Delhi, today
Next-generation GST reforms, as announced by Prime Minister Shri Narendra Modi from the ramparts of Red Fort on 15th August 2025, represent a strategic, principled, and citizen-centric evolution of a landmark tax framework, which will enhance the quality of life of every last citizen
GST Council approves reforms with a multi-sectoral and multi-thematic focus on improving the lives of all citizens and ensuring ease of doing business for all, including small traders and businessmen
Declaration to Bank for opening Bank Account in the name of HUF HINDU Undivided Family
If you have created HUF and want open Bank Account with Bank ,Bank may ask Declaration to submit .below is given a format for that :-
Guidelines for recovery proceedings under the provisions ofsection 79 ofthe CGST Act,2017
Section 75 ofthe CGST Act, 2017 (hereinafter referred to as "the Act") provides that notwithstanding anything contained in section 73 or section 74 ofthe Act, where any amount of self-assessed tax in accordance with the return fumished under section 39 remains unpaid, either wholly or partly, or any amount ofinterest payable on such tax remains unpaid, the same shall be recovered under the provisions ofsection 79. An explanation has been added to subsection (12) of section 75 vide section 114 of the Finance Act, 2021 with effect from 01.01.2022 to clarify that "self-assessed tax" shall include the tax payable in respect of outward supplies, the details of which have been fumished under section 37. but not included in the retum fumished under section 39.
STANDARD OPERATING PROCEDURE (SOP) FOR ATTACHEMENT /DETACHMENT OF BANK ACCOUNT by GST
1. It has been observed that certain demands are pending under the DVAT as well as GST against which neither any objection/appeal has been filed nor the dues are being paid by erring dealers. As soon as it comes to the notice of Ward/Proper Officer, notices for recovery are to be issued to the dealers in accordance with the provisions of the DVAT/GST Act and Rules made thereunder.
Advisory for Waiver Scheme under Section 128A
1. Taxpayer’s
attention is invited to the advisory on the above subject issued by GSTN on
29.12.2024. The link for the
said advisory is given
here:
https://services.gst.gov.in/services/advisoryandreleases/read/564
2. It is to inform that both Forms GST SPL 01 and GST SPL 02 are available in the GST portal and the taxpayers are advised to file applications under waiver scheme.
Implementation of mandatory mentioning of HSN codes in GSTR-1 & GSTR 1A
After successful implementation of Phase-I & Phase-II now Phase-III regarding Table 12 of GSTR-1 & 1A is being implemented, from return period February 2025. In this phase manual entry of HSN has been replaced by choosing correct HSN from given Drop down. Also, Table-12 has been bifurcated into two tabs namely B2B and B2C, to report these supplies separately. Further, validation regarding values of the supplies and tax amounts involved in the same, have also been introduced for both the tabs of Table-12. However in initial period these validations have been kept in warning mode only, which means failing the validation will not be a blocker for filling of GSTR-1& 1A. To view the detailed advisory please click here
Thanking You,Team GSTN
जनवरी 2025 से GSTR-1/ GSTR-1A भरना हुआ और कठिन, HSN कोड में दिखाई गयी value को GSTR -1 टेबल 12 से मैच करना होगा
जनवरी 2025 से, GSTR-1/1A में HSN कोड रिपोर्टिंग का चरण- III लागू किया जाएगा।
1. एचएसएन कोड की मैनुअल प्रविष्टि की अनुमति नहीं दी जाएगी, करदाताओं को ड्रॉपडाउन से कोड का चयन करना आवश्यक है।
2. रिपोर्ट को B2B और B2C आपूर्ति के लिए दो टैब में विभाजित किया जाएगा, प्रत्येक आपूर्ति मूल्यों और कर राशियों के लिए सत्यापन के अपने स्वयं के सेट के साथ होना जरुरी होगा ।
तालिका-12 के दोनों टैब के लिए आपूर्ति के मूल्यों और उसमें शामिल कर राशि के बारे में सत्यापन भी शुरू किया गया है।
हालांकि प्रारंभिक अवधि में ये सत्यापन शुरू में चेतावनी के तौर पर होंगे जिसका अर्थ है कि विसंगतियां होने पर भी GSTR-1 फाइलिंग को अआप कर पाएंगे किन्तु आने वाले समय में जबकि ये कंपल्सरी हो जायेंगे तो आप कोई भी विसंगति होने पर GSTR-1& 1A फाइल नहीं कर पाएंगे।
What will happen if forget to file GSTR-09
Failing to file the GSTR-9 by December 31 attracts late fees and penalties:
- if your aggregate Turnover is up to ₹5 crore:
₹50/day (₹25 each under CGST and SGST), Maximum amount up to 0.04% of turnover. - If your aggregate Turnover is ₹5 crore to ₹20 crore:
- ₹100/day (₹50 each under CGST and SGST), Maximum amount up to 0.04% of turnover.
- If your aggregate Turnover is above ₹20 crore:
₹200/day (₹100 each under CGST and SGST), Maximum amount up to 0.50% of turnover.
Late filing also increases scrutiny from tax authorities and can disrupt audit processes.
How to change Company name in India | How to Change Your Company Name |
A business may decide to rebrand for a variety of tactical reasons. Aligning the company's branding with its changing business goals, which take into account adjustments to its offerings, services, or target market, is one common goal. A merger, acquisition, or reorganization may also call for a name change, which would indicate a change in ownership or corporate identity. Important legal goals, like avoiding trademark conflicts or adhering to regulatory requirements, can be achieved by changing one's name. For whatever reason, renaming a business can be a proactive move toward reviving its reputation, bolstering its market position, and adjusting to shifting market conditions.
Let's examine the necessary conditions and steps involved in achieving this:-
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