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This guide explains when NRIs should use Form 128 and when payers should use Form 129 to reduce or eliminate excess TDS. It also clarifies the role of Form 15CA/15CB in remittance compliance.
CS 04 scrutiny examines whether trusts and NGOs validly claimed exemption in ITR-7 despite registration, approval, renewal, cancellation, or withdrawal issues.
CBDT has identified six categories of returns for compulsory scrutiny during FY 2026-27. Selection triggers detailed examination but does not automatically result in tax additions.
The article provides a practical guide for Non-Resident Indians (NRIs) on Indian income tax compliance, emphasizing that living abroad does not automatically exempt them from filing an Income Tax Return (ITR). It explains that residential status under section 6 determines taxability, with NRIs generally taxed only on income received, accrued, or deemed to accrue in […]
Learn how F&O, intraday, and delivery-based share losses should be reported in the income tax return. The guide explains ITR selection, tax audit applicability, turnover calculation, and carry-forward of losses.
This article explains why 30 June 2026 is the statutory deadline for filing backlog GSTAT appeals and why taxpayers should not rely on procedural relaxations extending to 31 December 2026. It also highlights the consequences of missing the limitation period.
The article explains why buyers should avoid claiming ITC when purchase invoices are missing from GSTR-2B. It outlines the legal position, supplier follow-up process, and practical safeguards to protect input tax credit.
The article explains how dealings with shell companies, accommodation-entry providers, and fake invoice operators can trigger income tax and GST proceedings. It highlights key legal provisions, penalties, and compliance measures taxpayers should understand.
The article explains how accurate Form 10BD reporting protects donor deduction claims, prevents penalties, and ensures consistency with audit disclosures.
A single visit revealing closed premises is not sufficient to cancel GST registration. The department must establish statutory grounds and follow the complete procedure prescribed under GST law.
