Learn about the new changes to Form 3CD, which now requires detailed reporting of both timely and delayed payments to MSMEs to avoid penalties and disallowances.
Learn how new ITR business codes impact tax filing. Key additions include codes for influencers and traders. AI to boost compliance and detect mismatches.
Proposed Income Tax Bill 2025 aims to simplify tax rules by restoring 80M deduction, allowing NIL TDS certificates, and eliminating late-filing refund bar.
Summary: Under the Income Tax Act, individuals can claim tax deductions on insurance premiums, offering relief while ensuring financial protection. Premiums paid on life insurance policies qualify for deduction under Section 80C, up to a limit of ₹1.5 lakh annually, including other eligible investments, but only under the old tax regime. Health insurance and Mediclaim […]
Understand tax relief for tuition fees, education loans, and allowances under Income Tax Act. Learn what parents can claim and how the new tax regime affects deductions.
Delhi CM advocates for a faceless GST system to streamline dispute resolution, reduce taxpayer burden, and enhance transparency for national economic benefit.
Key changes to GST returns are coming. Understand the non-editable GSTR-3B liability, GSTR-1A for corrections, and updated HSN code requirements for B2B and B2C supplies to ensure compliance.
Understanding nuances of ITR-1 to ITR-6 is crucial for accurate tax filing. This guide provides a concise overview of which form to choose based on income sources and financial structures.
Understand advance tax, its calculation methods, and due dates. Learn about changes affecting partners and exemptions for certain taxpayers. Pay on time to avoid penalties.
CBDT extends ITR filing deadline for small taxpayers to Sep 15, 2025, citing ITR form changes and system updates. Use this time for reconciliation and accurate filing.
