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 The Income Tax Act 1961 stands repealed w.e.f 01.04.2026 by virtue of section 536 of Income Tax Act 2025.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

System Analysis and Design (SAD) is the process of understanding, examining, designing, and implementing an information system that meets an organization's specific needs. It plays a crucial role in software development, business process optimization, and IT system implementation.