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No Tax Deduction on Expenses for Settling Legal Violations Under Financial Laws

🚫 No Tax Deduction on Expenses for Settling Legal Violations Under Financial Laws The Income Tax Department has reiterated a clear stance—expenses incurred to settle violations under financial laws are not allowable as tax deductions. This includes fines, penalties, and other outflows made to resolve non-compliance or regulatory breaches. This…

TCS Applicability Expanded to High-Value Luxury Goods under Section 206C

💼 TCS Applicability Expanded to High-Value Luxury Goods under Section 206C In a significant move aimed at improving tax compliance and tracking high-value transactions, the Income Tax Department has expanded the scope of Tax Collected at Source (TCS) under Section 206C of the Income-tax Act, 1961. This latest update makes…

Rule 37: ITC Reversal on Non-Payment Within 180 Days

🔄 Rule 37: ITC Reversal on Non-Payment Within 180 Days – What Businesses Must Know Claiming Input Tax Credit (ITC) is a major benefit under the GST regime, but it comes with specific conditions. One such important compliance requirement is laid out in Rule 37 of the CGST Rules, which…

Form 10AB condonation request for Section 12A

📄 Form 10AB Condonation Request under Section 12A: What You Need to Know Charitable and religious institutions that fail to file Form 10AB within the prescribed deadline for registration or re-registration under Section 12A can now seek condonation of delay under certain circumstances. The Income Tax Department, acknowledging procedural delays,…

CBIC Issues Clarified Guidelines for Processing GST Registration Applications

🧾 CBIC Issues Clarified Guidelines for Processing GST Registration Applications The Central Board of Indirect Taxes and Customs (CBIC) has released revised guidelines for the processing of GST registration applications, aimed at improving transparency, reducing delays, and ensuring better compliance. Effective immediately, these guidelines are intended to streamline the approval…

Revised TDS on Rent Rules Effective from 1st April 2025: What You Need to Know

Revised TDS on Rent Rules Effective from 1st April 2025: What You Need to Know The Income Tax Department has revised the TDS provisions on rent payments, effective 1st April 2025, bringing some significant changes that landlords and tenants—especially businesses and individuals paying high rent—need to take note of. 📌…

Confused about DSC requirements for LLP forms on the MCA V3 Portal? 🤔💡

🔹 DSC is mandatory for forms requiring signatures from Designated Partners & Practicing Professionals.🔹 But guess what? Form RUN LLP (Reserve Unique Name-LLP) doesn’t need a DSC! 🧾 Confused About DSC Requirements for LLP Forms on the MCA V3 Portal? Let’s Clear It Up! 🤔💡 Filing LLP forms on the…

Want to associate your Digital Signature Certificate (DSC) as a business user on the MCA V3 Portal?

🔐 Want to Associate Your DSC as a Business User on the MCA V3 Portal? Here’s How! If you’re a Director, Company Secretary, or authorized representative, associating your Digital Signature Certificate (DSC) on the MCA V3 Portal is a must for seamless filing and compliance. ✅ Who Needs to Associate…

All About ITR Forms for AY 2025-26: Applicability, Selection & Filing Deadlines

It’s an important step in managing your finances, staying tax-compliant, and planning your future. One of the most common queries during the tax season is: “Which ITR form should I file?” The Income Tax Department of India has notified seven different ITR forms for Assessment Year (AY) 2025-26, applicable to various categories of taxpayers…

Phase-III Implementation of Table-12 in GSTR-1 and GSTR-1A Begins April 2025

📊 GST Update: Phase-III Changes in Table-12 of GSTR-1 & GSTR-1A Applicable from April 2025 The Goods and Services Tax Network (GSTN) has issued an advisory dated 11th April 2025, notifying taxpayers about the Phase-III changes to Table-12 in GSTR-1 and GSTR-1A, effective from the April 2025 tax period. These…

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No Tax Deduction on Expenses for Settling Legal Violations Under Financial Laws

TCS Applicability Expanded to High-Value Luxury Goods under Section 206C

Rule 37: ITC Reversal on Non-Payment Within 180 Days

Form 10AB condonation request for Section 12A

CBIC Issues Clarified Guidelines for Processing GST Registration Applications

Revised TDS on Rent Rules Effective from 1st April 2025: What You Need to Know

Confused about DSC requirements for LLP forms on the MCA V3 Portal? 🤔💡

Want to associate your Digital Signature Certificate (DSC) as a business user on the MCA V3 Portal?

All About ITR Forms for AY 2025-26: Applicability, Selection & Filing Deadlines

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For Indian Entrepreneur

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Special Compliances

Accounting & Payroll

Special

Trademark

Copy Right

Patent

Blogs

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