KNOWLEDGE HUB
Rule 14A GST Registration: ₹2.5 Lakh B2B Tax Limit Explained
Small businesses often struggle with slow GST registration processes. Long waits and physical verification frustrate genuine taxpayers. Fortunately, the government introduced Rule 14A to solve this problem. This new rule speeds up registration for low-risk,...
CBDT Notifies Foreign Assets of Small Taxpayers – Disclosure Scheme Rules, 2026
The government has rolled out a fresh relief measure for taxpayers with foreign holdings. The Central Board of Direct Taxes (CBDT) has notified the Foreign Assets of Small Taxpayers – Disclosure Scheme Rules, 2026. This scheme gives small taxpayers a one-time chance...
ICAI New Publication: GST Sectoral Guide on Fast-Moving Consumer Goods (July 2026)
The Institute of Chartered Accountants of India recently released a fresh, sector-focused resource. <cite index="17-1">This GST Sectoral Guide addresses Fast-Moving Consumer Goods, or FMCG, businesses specifically, and it also reflects amendments introduced by...
ITAT Allows Section 54 Deduction Despite Flat Completion Delay
Taxpayers often worry when builders delay a flat's handover. However, a recent ITAT ruling brings welcome relief. The Tribunal confirmed that genuine delays outside a buyer's control should not block a rightful tax deduction. What Section 54 Actually Requires Section...
Intimation for IGST ITC Reversal: Can Taxpayers Be Forced to Claim Credit for Reversal?
Many GST-registered businesses have recently received a curious notice. State tax departments are asking them to reverse IGST input tax credit (ITC). However, some taxpayers never even claimed that credit in the first place. This mismatch raises a genuine legal...
NCLT Dismisses ₹975 Crore Income Tax Claim After 1,305-Day Delay | Key IBC Ruling
The National Company Law Tribunal (NCLT) has rejected a massive tax claim. The Chandigarh Bench refused to condone a delay of 1,305 days. As a result, the Income Tax Department's ₹975.56 crore claim now stands dismissed. This ruling reinforces a key principle of...
CBDT Notifies New ITR-BN for Filing Income-tax Returns in Block Assessment Case
The Central Board of Direct Taxes (CBDT) has rolled out a new tax return form. It is called ITR-BN. This form applies to taxpayers facing block assessment proceedings. These proceedings arise from search and seizure actions. Consequently, taxpayers under...
ITR Deadline 2026: Is 31st July Filing Alarm Ringing for You?
The calendar is turning. July is almost over. And for millions of Indian taxpayers, one date matters most: 31st July 2026. This is the ITR filing deadline for the financial year 2025-26. Yet many taxpayers still haven't started. So, is it time to worry? Let's break...
How Can I File an ITR and Claim a TDS Refund for a Deceased Parent
Losing a parent brings emotional strain, and paperwork often adds to it. Filing their final income tax return is one such task. Fortunately, the process follows clear steps, and a legal heir can complete it smoothly. Who Can File the Return Under Section 159 of the...
CBDT to Display Foreign Income and Assets in AIS for Taxpayers
Filing taxes gets more transparent this year. The Central Board of Direct Taxes (CBDT) now shows foreign income and asset details in your Annual Information Statement (AIS). This move helps taxpayers see what the department already knows. As a result, filing an...