Most taxpayers who receive an income tax assessment order assume that if additions are made to their income, a penalty […]
Section 271AAC: The 10% Penalty You Can Actually Avoid Read Post »
Every month, thousands of businesses across India claim input tax credit (ITC) based on what they think their suppliers have
GSTR-2B Reconciliation: Why Skipping This Step Is Costing You ITC Read Post »
It was a routine GSTR-3B filing day for the finance team at a Delhi-based consumer goods distributor with a ₹12
GST Rule 86B: The 1% Cash Rule That Trips Up High-Turnover Businesses Read Post »
Priya owns a small electronics repair shop in Pune. Annual turnover: ₹82 lakhs. She has no accountant and no formal
Section 44AD: The Presumptive Tax Scheme That Can Save Small Businesses Thousands Read Post »
Rajan runs a mid-sized textile business in Surat. In AY 2022-23, his books showed a ₹40 lakh cash credit from
Section 68: Why Your Cash Credits Could Be Taxed at 78% Read Post »
Section 56(2)(x) gift tax: what’s the penalty?
Section 56(2)(x) Gift Tax Read Post »
India’s income tax landscape underwent a transformative shift with the introduction of the New Income Tax Regime in 2020, and
New Income Tax Regime — A Complete Guide Read Post »
