Compliance Calendar July 2025
Compliance Calendar July 2025 compiles the compliances for the month of July 2025 as per Income Tax, GST , PF and ESI. Compliances as per Income Tax Act Due Date […]
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GST Return Filing Alert: File Pending Returns Before 3-Year Deadline Ends!
Introduction The Goods and Services Tax Network (GSTN) has issued a crucial reminder for all registered taxpayers: Do not delay your GST return filings any further. Starting August 1, 2025,
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Major GST Return Filing Rule Changes from July 2025: What Taxpayers Must Know
Introduction As GST compliance continues to evolve, taxpayers and finance professionals must prepare for a wave of significant changes taking effect from July 2025. These new updates, recently introduced by
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Penalties Leviable under Income Tax Act,1961
Introduction Every assessee who commits a default under the Income Tax Act is liable to face penalties as prescribed under various provisions. Depending on the nature and severity of the
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CBDT Circular No. 07/2025: Time Limit Relaxation for Processing Condoned ITRs
CBDT relaxes the time limit for processing valid income tax returns filed with condonation u/s 119(2)(b). Refunds can now be processed by 31st March 2026.
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Free Download: Model Notes to Accounts for Level IV Non-Corporate Entities
Download a professionally drafted Notes to Accounts template for Level IV non-corporate entities including firms, trusts, and societies. Fully compliant with ICAI’s Guidance Note on financial statements of non-company entities
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GST on Bricks: Understanding the Dual Rate Structure Effective from 1st April 2022
Introduction Since the launch of the Goods and Services Tax (GST) in 2017, tax rates and structures have continued to evolve across sectors. A notable change came into effect on
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Section 80C Deduction Guide for FY 2024–25 : Updated Rules, Disclosures & FAQs
If you’re a taxpayer in India and following the old tax regime, Section 80C continues to be one of the most powerful tools to reduce your income tax burden—offering deductions
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Cash Transaction Limits for FY 2025–26: What You Must Know to Avoid Penalties
Find out more about Cash Transaction Limits applicable for the F.Y. 2025-26 and the circumstances which may attract penalties when not adhered to
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Presumptive Taxation – Section 44AE
Introduction Section 44AE of the Income Tax Act is a presumptive taxation scheme introduced to simplify the income tax compliance for small transport owners. This section is applicable to persons
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