GST on Hotels & Restaurants – Are You Applying the Correct GST Rate? (Based on Notification No. 11/2017-Central Tax (Rate) as amended, effective from 22 September 2025) GST Rate Chart for Hotels, Restaurants & Catering Services Sr. No. Particulars of Service SAC Code GST Rate ITC Eligibility Key Condition A1 Hotel accommodation where room/unit value …
Top 10 Supreme Court Judgments under GST (since 2017) The GST regime has generated significant litigation since its introduction in July 2017. Several Supreme Court judgments have shaped the interpretation of the GST law, particularly in areas such as Input Tax Credit (ITC), refunds, imports, insolvency, registration cancellation, and compliance obligations. This article discusses the …
Company Registration in Bangalore Starts With a Virtual Office Nowadays, company registration looks different from what it did two years ago. Previously, founders used to sign a lease first and register the company afterwards. Now, a lot of them file for incorporation using a virtual address and figure out physical space later, if at all. This …
Guide on F&O Turnover Calculation for ITR Filing (AY 2026–27) One of the most misunderstood aspects of income tax compliance for traders is the calculation of futures & options turnover. Many traders incorrectly assume that turnover means the total value of contracts purchased or sold. However, for income tax and tax audit purposes, turnover is …
ITR FILING DEADLINE 2026 AY 2026–27: Are You Ready? Income Tax Return Filing Deadlines for AY 2026–27 in India. ITR FILING DEADLINE 2026 AY 2026–27.. Deadline Calendar 2026 Key Dates taxpayer Can’t Miss. lists important ITR-related due dates: Date Applicable To 31 July 2026 Salaried individuals, pensioners, ITR-1 & ITR-2 (No Audit) 31 August 2026 …
Will vs. Private Family Trust: A Comprehensive Guide to Succession Planning in India Introduction Building wealth is only half the journey. Preserving it and ensuring its seamless transfer across generations is equally important. Unfortunately, many families spend decades accumulating assets but devote very little attention to succession planning. The result is often family disputes, litigation, …
Latest changes: TDS/TCS significant transformation Income Tax Act, 2025 India’s tax withholding regime has undergone its most significant transformation in decades with the introduction of the Income Tax Act, 2025, and the accompanying Income Tax Rules, 2026. The new framework is not merely a renumbering exercise—it represents a shift toward digital compliance, automation, simplified reporting, …
Transition of TDS/TCS Provisions from the Income Tax Act, 1961 to the Income Tax Act, 2025: The New Era of Withholding Tax Compliance Income-tax Act, 2025: A New Era for TDS/TCS Compliance and Withholding Tax Administration. The Income-tax Act, 2025 marks one of the most significant reforms in India’s withholding tax framework. While the tax rates …
Income Tax Return AY 2026-27: Reporting of Non-Taxable Receipts Made Easier For AY 2026-27 (FY 2025-26), the income tax Dept has introduced a significant disclosure change in the ITR utility. A new disclosure field “Receipts not in the nature of income” has been introduced under Schedule EI (Exempt Income) to Other Incomes. The earlier residual …
“NRI Receiving a Gift from India? – Know when it is tax-free, taxable, and what FEMA allows.” For NRIs, gifts from specified relatives are generally tax-free regardless of value, while gifts from non-relatives become taxable once the aggregate value exceeds INR 50,000. Apart from income-tax implications, FEMA regulations governing remittances, property transfers, and share transfers …