A Delhi GST alert circular reveals a Rs.6 crore Input Tax Credit fraud by a non-existent entity, detailing the scheme and mandated recovery actions.
Charitable trusts must renew Section 12AB registration via Form 10AB. A new law grants a 10-year validity if income is under ₹5 crore for the two preceding years.
Delhi GST Dept exposes ₹30 Cr fake ITC via non-existent firms. Circular mandates recovery, ITC reversal & cross-jurisdiction enforcement.
Learn whether PMS fees can be deducted from capital gains under Section 48 of the Income-tax Act, 1961. This article explains the conflicting judicial views and the required documentation.
Learn how to handle TDS on a minor’s income. This guide explains income clubbing, how to claim TDS credit, and the steps to correct TDS deductions made on a minor’s PAN.
Learn about new business codes (21009, 21010, 21011) for share trading. Understand which ITR form to use and the applicability of Section 44AD for various trading activities.
Learn how to remove excess 20% TDS demand on property sales under Section 194-IA due to PAN-Aadhaar linking issues, using CBDT Circular No. 9/2025.
A guide to carrying forward share trading losses in AY 2025-26. Covers new business codes, ITR rules, tax audit requirements, and how to set off losses.
CBDT Circular 10/2025 allows reprocessing of income tax returns erroneously marked “Invalid” by CPC, extending the Section 143(1) intimation deadline to March 31, 2026, but refunds require active PAN-Aadhaar linkage.
The CBDT has introduced a new mechanism through Circulars 5/2025 and 8/2025 to waive interest on delayed TDS/TCS payments caused by technical glitches, provided specific conditions and timelines are met.
