Comparison of major penalty provisions under the Income-tax Act, 1961, vis-à-vis the Income-tax Act, 2025 The Income-tax Act, 2025 has reorganized and renumbered the penalty framework contained in Chapter XXI of the Income-tax Act, 1961. While most penalty provisions have been retained with minimal substantive changes, certain important modifications have been introduced concerning misreporting of …
DTAA Framework – Detailed Explanation with Practical Understanding In this blog, we will discuss the Double Taxation Avoidance Agreement Framework, one of the most important pillars of international taxation. With the increasing movement of individuals, investments, businesses, and services across borders, understanding DTAA provisions has become essential for taxpayers, NRIs, expatriates, multinational companies, and foreign …
Missed the 31 August ITR-3 / ITR-4 Filing Deadline? Here’s What You Need to Know The extended due date of 31 August 2026 for filing ITR-3 and ITR-4 by eligible non-audit taxpayers has now passed. However, taxpayers who missed the deadline still have an opportunity to file their income tax return through the belated return …
GST Portal Update for Tally Users: Complete the New API Access Selection Before 30 September. Businesses using Tally’s Connected GST Services should take note of an important update introduced by GSTN. A new setting has been added on the GST Portal that requires taxpayers to explicitly authorize the GST Suvidha Provider and Application Service Provider …
ESIC Code Allotted at Incorporation but No Employees? Do You Need to File Returns or Surrender the ESIC Registration? Many newly incorporated companies receive an ESIC Registration Code automatically through SPICe+ and AGILE-PRO-S at the time of incorporation. A common question that arises is whether a company with zero employees must file ESIC returns and …
Form 3CD Clause-wise Tax Audit Checklist – FY 2025-26 Form 3CD Clause-wise Tax Audit Checklist – AY 2026-27 (FY 2025-26) What this workbook is built on, and how updates reach you. Form basis Form 3CD as amended by Income-tax (Eighth Amendment) Rules 2025 – Notification 23/2025 dated 28-03-2025, effective 1-4-2025. e-filing schema v2.2. Changes carried …
Individual Health Insurance Premiums Expected to Increase by 22.4% in 2027 Health insurance premiums are on an upward trajectory globally and in India — with projections pointing to continued double-digit increases in 2027. The global context provides useful perspective on the structural forces at work, while India’s specific market dynamics add additional pressure factors. For …
Which of your investments can be used as loan collateral? Investors may hold valuable assets but still face temporary cash requirements. A loan against shares can help eligible investors access funds without selling their listed investments. Under a Loan Against Shares facility, eligible listed shares are pledged as collateral. The investor can therefore raise funds …
Labour Codes 2026: Key Buzzwords Every Employer, HR Professional & Business Must Know No. Labour Code Term Quick Meaning 1 Wage Definition Standardized definition of wages for labour law compliance and statutory calculations. 2 Floor Wage Minimum benchmark wage notified by the Central Government for all states. 3 Minimum Wages Wage protection extended to a …
Complete 2026 Guide on Reverse Charge Mechanism under GST As per 2026 updated RCM list & RCM rules, the Reverse Charge Mechanism (RCM) is a GST provision where the recipient of goods or services is liable to pay GST instead of the supplier. The legal basis for RCM is provided under Section 9(3) and 9(4) …