Understanding HRA: Exemptions, Challenges, Tax Notices, and Essential Tips for Compliance

8 Apr, 2025

Understanding HRA: Exemptions, Challenges,...

House Rent Allowance (HRA) is a vital component of salary packages for many employees in India, designed to help cover ...

Remittance of Funds by NRIs from Fixed Deposit Maturity: Understand Forms 15CA and 15CB, Challenges, and Income Tax Implications

4 Apr, 2025

Remittance of Funds by NRIs from Fixed Dep...

For Non-Resident Indians (NRIs), managing financial assets in India is a balancing act that often involves leveraging f...

The Inoperative PAN Crisis for NRIs: Challenges, Exemptions, and Unresolved Issues

4 Apr, 2025

The Inoperative PAN Crisis for NRIs: Chall...

The Permanent Account Number (PAN) is a critical financial identifier for individuals and entities in India, facilitati...

ITAT Ahmedabad Rules that Severance Compensation on Loss of Employment is Capital Receipt, Not Profits in lieu of Salary

27 Feb, 2025

ITAT Ahmedabad Rules that Severance Compen...

IntroductionIn a crucial judgment, the Income Tax Appellate Tribunal (ITAT) Ahmedabad has ruled in favor of the ass...

High Court Quashes GST Demand and Show Cause Notice U/s 73, Citing That Retrospective Extension Does Not Apply to Expired Limitation Period

20 Feb, 2025

High Court Quashes GST Demand and Show Cau...

Nowadays, the GST department issues various notices and orders to GST registration holders for past years, often leadin...

Unutilized ITC for FY 2017-18 to 2020-21 Can Be Claimed under GST Until Nov 30, 2021: Madras High Court Quashes ITC Reversal

19 Feb, 2025

Unutilized ITC for FY 2017-18 to 2020-21 C...

IntroductionThe new section 16(5) of the CGST Act allows taxpayers to claim Input Tax Credit (ITC) for a certain pe...

GST Refund Claims: Court Directs fresh Adjudication and Permits Filing Under ‘Others'” Category for Export of Services.

18 Feb, 2025

GST Refund Claims: Court Directs fresh Adj...

IntroductionGetting GST refunds has been challenging for industries when dealing with the GST department, especiall...

Income Tax Department Detects Undisclosed Foreign Assets: What Indian Taxpayers Need to Know

18 Feb, 2025

Income Tax Department Detects Undisclosed ...

The Income Tax Department has recently uncovered significant foreign assets owned by Indian taxpayers. As taxpayers, we...

ITAT Pune Allows Section 80C Deduction but Assesses Profit as a Percentage of Turnover in Plotting Business

17 Feb, 2025

ITAT Pune Allows Section 80C Deduction but...

This appeal pertains to an order passed by the Ld. CIT(A)/NFAC, Delhi, on 27th May 2024, related to assessment year 201...

Export of Services: Condition for Indian Subsidiaries Providing Services to Foreign Parent Companies

14 Feb, 2025

Export of Services: Condition for Indian S...

IntroductionOn September 20, 2021, the Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 1...

Delhi High Court Quashes GST Registration Cancellation Due to Procedural Lapses

14 Feb, 2025

Delhi High Court Quashes GST Registration ...

The Delhi High Court recently quashed the cancellation of GST registration for Rashid, Proprietor of MS Enterprises, hi...

The Income Tax Bill 2025: A Comprehensive Overview

14 Feb, 2025

The Income Tax Bill 2025: A Comprehensive ...

The much-anticipated Income Tax Bill 2025 has been introduced, ushering in a new era of tax reforms. Scheduled to take ...

Advisory for GST Registration Process: Updates as per Rule 8 of CGST Rules, 2017

13 Feb, 2025

Advisory for GST Registration Process: Upd...

IntroductionThe GST registration process has been updated to enhance security and streamline authentication for...

India’s New Income Tax Bill 2025: Key Changes You Need to Know

13 Feb, 2025

India’s New Income Tax Bill 2025: Key Chan...

The Indian government has finally unveiled the much-awaited Income Tax Bill 2025. Spanning 622 pages, this comprehensiv...

Do You Know Why the New Income Tax Bill 2025 is Introduced? Here’s the Reason

12 Feb, 2025

Do You Know Why the New Income Tax Bill 20...

The much-anticipated Income Tax Bill 2025 has finally been introduced, aiming to repeal the Income-tax Act, 1961, and r...

Talk to us
Chat with us