A loan given by a closely held company to its director or shareholder may attract income tax even when the […]
Company Giving a Loan to Its Director? It Could Be Taxed as Deemed Dividend Read More »
Tax Audit Report Filed? Your Income Tax Compliance Is Not Yet Complete Businesses covered by the extended tax-audit deadline for
Tax Audit Report Filed? Your Income Tax Compliance Is Not Yet Complete Read More »
Businesses finalising their Income Tax Returns for FY 2025-26 should carefully review expenses on which Tax Deducted at Source (TDS)
TDS Not Deducted on Business Expenses? 30% of Your Expense May Be Disallowed Read More »
How Can a Cash Loan Below ₹20,000 Become a Violation? Suppose a business has already accepted a loan of ₹15,000
Accepted a Cash Loan Below ₹20,000? You Could Still Face an Income Tax Penalty Read More »
The Central Board of Direct Taxes (CBDT) has issued Notification No. 133/2026, amending the existing administrative framework governing Joint Commissioners
Income Tax Appeal Pending? CBDT Updates the Appellate Authority Framework Read More »
The Central Board of Direct Taxes (CBDT) has introduced a revised Form 161 for applications seeking waiver of penalty under
Facing an Income Tax Penalty? A Revised Application Form Has Been Notified Read More »
A business may find that TDS deducted by its customer is visible in Form 26AS or AIS, but the corresponding
TDS Deducted but Credit Not Available? The Income Year Could Be the Reason Read More »
Yes. Input Tax Credit (ITC) may still need to be reversed even when the purchase invoice appears in GSTR-2B. GSTR-2B
Does ITC Need to Be Reversed Even if the Invoice Appears in GSTR-2B? Read More »
Businesses purchasing goods or services from registered Micro and Small Enterprises must carefully monitor payment deadlines. Under Section 43B(h) of
Payments to MSME Suppliers Delayed? Your Business Expense May Be Disallowed Read More »
Dealing in Crypto Assets? Income Tax Reporting Has Become More Detailed Under the Income Tax Act, 2025, a new information-reporting
Dealing in Crypto Assets? Income Tax Reporting Has Become More Detailed Read More »