Despite India’s tech ambitions, the Income Tax Department’s portal struggles with stability, hindering tax compliance and frustrating citizens.
Understand the tax rules for cash gifts from grandparents in India. Learn why proper documentation is crucial to avoid scrutiny from the Income Tax Department.
Summary: Effective September 22, 2025, India has implemented GST 2.0 reforms, simplifying its tax structure and impacting various aspects of the economy. The new system reduces rates on approximately 90% of daily essentials, moving them from 12% or 18% to a lower 5%, which is expected to save the average household between Rs.1,200 and Rs.1,800 […]
In a case concerning a real estate transaction, the Income Tax Appellate Tribunal (ITAT), Ahmedabad, held that an assessment under Section 153C was invalid as no incriminating material was found from the assessee.
The Sikkim High Court has ruled that businesses cannot get a refund of unutilized GST Input Tax Credit upon closure, citing statutory limitations.
GSTN’s new advisory introduces changes to the Invoice Management System, including an option to keep credit notes pending and a facility to declare ITC reversal amounts.
The Department of Consumer Affairs has simplified rules for revising retail prices on unsold stock due to GST changes, waiving newspaper ads for a sticker system.
A Chartered Accountants’ association requests an extension for tax audit and 12A renewal due dates, citing portal issues, festive season, and other delays.
The Karnataka Taxpayers Association raises concerns over GST system issues, including the disregard of taxpayer replies, non-crediting of payments, and bank account attachments.
Laghu Udyog Bharati seeks extension of due date for filing Tax Audit Reports and ITR for AY 2025-26, citing portal issues, delays, and disruptions.
