The Goods and Services Tax Network is implementing a major update to the GSTR-1 and GSTR-1A forms starting from the return period of May 2025. […]
Residential Welfare Associations and GST: Legal Challenges and Practical Solutions
Residential Welfare Associations (RWAs) are common in housing societies across India. They function as organized bodies to manage shared facilities, maintain infrastructure, and ensure the […]
Key Principles for Claiming Provisions for Expenses Under the Income Tax Act, 1961
In accounting practice, the term provision refers to an amount allocated from profits or surpluses to meet a liability that is known but whose exact […]
Expert Insights on Trust and NGO Audit in Form 10B & 10BB for FY 2022-23 | AY 2023-24
The audit of trusts and NGOs in India is not simply a matter of routine compliance; it plays a critical role in maintaining the credibility […]
Income Tax Act Section-wise Guide to Profits and Gains of Business or Profession
The provisions governing the taxation of profits and gains of business or profession form a critical part of the Income Tax Act. This head of […]
How E-Commerce Operators Can Manage Input Tax Credit under GST Section 9(5) Compliance
The Goods and Services Tax framework in India is built on the principle of subsuming multiple indirect taxes into a unified system, ensuring consistent compliance […]
CBDT Extends ITR Deadline for Non-Audit Cases to 15 September 2025
The Central Board of Direct Taxes has officially extended the due date for filing Income Tax Returns for the Assessment Year 2025-26 from the original […]
Understanding Faceless Assessment and the New Income Tax e-Filing Portal
The income tax system in India has seen a major transformation with the introduction of the faceless assessment regime. This initiative by the Income Tax […]
E-way Bill Rules and Regulations for Goods Transportation Under GST
The introduction of the Goods and Services Tax (GST) on July 1, 2017, marked a significant transformation in India’s indirect taxation framework. One of the […]
GSTR 3B Explained: Who Must File, When to File, and Key GST Provisions
Goods and Services Tax (GST) has revolutionized the indirect tax system in India by creating a uniform tax structure and simplifying compliance for businesses. Among […]
Key Compliance Requirements for Specified Funds as per CBDT’s Section 10(4D) Guidelines
Section 10(4D) of the Income Tax Act offers exemption on certain incomes of specified funds, playing a vital role in the investment and regulatory landscape, […]
Cryptocurrency Taxation Simplified: New Rules for Virtual Digital Assets
The rapid growth and widespread adoption of virtual digital assets have necessitated a clear and comprehensive taxation framework. Virtual digital assets, including cryptocurrencies and non-fungible […]
True-Up Value Accounting Under Ind AS 114: Key Principles and Practical Insights
Rate regulations are a fundamental aspect of many industries, particularly those providing essential services such as electricity, water, gas, and telecommunications. These regulations are designed […]
AS 22 Compliance: Essential Disclosure Rules for Accounting of Income Taxes
Accounting for taxes on income is an essential aspect of financial reporting that directly affects the statement of profit and loss for any enterprise. Income […]
Importance of Form GSTR-2A in GST Law: A Detailed Overview for Tax Professionals
The Goods and Services Tax (GST) regime in India introduced a structured mechanism for reporting supplies of goods and services through various prescribed returns. Registered […]