New Permanent Account Number Quoting Rules Effective from 1 April 2026 The tax dept has introduced revised thresholds for quoting the Permanentย Account Number in specified financial transactions. The objective is to simplify compliance for routine transactions while strengthening the reporting framework for high-value transactions. The following are changes in permanent account number requirements: Nature of …
August 2026 Compliance Calendar | GST, ITR, TDS Due Dates Stay compliant and avoid late fees by tracking these important statutory due dates for August 2026. GST Monthly Compliances ๐น 10 August 2026 โ GST Tax Deducted at Source Return GSTR-7 for July 2026 ๐น dated 10 August 2026 โ GSTR-8 (GST Tax Collected at …
Calculation while computing GST Interest & Late fee The Goods and Services Tax Interest & Late Fee Calculator helps taxpayers accurately estimate the cost of delayed GST payments and late return filing by calculating both interest u/s 50 and late fee u/s 47. Basic key features in relation to that: while calculation is to be …
Form 16A (Earlier Reflected in Form 26AS)ย Now Shows Deductor PAN: A Small Change with a Big Impact on TDS Reconciliation A seemingly minor enhancement in the income tax reporting ecosystem is set to deliver significant relief to accounting and finance teams across India. The updated Form 16A/Annual Tax Statement reporting framework (earlier reconciliation largely relied …
Most Important GST-Related Supreme Court Judgments for Practice The five most impactful Supreme Court cases are discussed in detail. These 5 judgments are indeed the most important GST Supreme Court rulings for every CA, GST consultant, tax lawyer, CFO, and business owner because they directly impact ITC, refunds, imports, insolvency, and compliance. Mohit Minerals Pvt. …
All About the Code on Social Security, 2020: Employer Compliance Guide 2026 What is the meaning of “Code on Social Security, 2020 ?ย The Code on Social Security, 2020, is one of India’s four labour codes that consolidates multiple employee welfare and social security laws into a single framework. It governs key employee benefits such …
Employment Information Return (Form XXVI) under the Code on Social Security, 2020 The Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959 has now been integrated into the Code on Social Security, 2020. As most states are yet to notify their respective rules, the Code on Social Security (Central) Rules, 2026 currently govern the filing requirements …
GSTN: E-Way Bill Enhancements (Ship-To GSTIN) hold next notice GSTN advisory is significant because it would have introduced new mandatory data requirements and validation checks in the e-Way Bill and e-Invoice ecosystem from 1 August 2026. However, GSTN has now put these changes on hold until further notice after receiving representations from taxpayers, ERP vendors, …
Taxation of F&O trading as non-speculative business:ย F&O trading is treated as non-speculative business income u/s 43(5) and is taxable at normal income tax slab rates, with expenses such as securities transaction tax, brokerage, and exchange charges allowed as deductions. Futures & options traders are generally required to maintain books of account u/s 44AA if …
Avoid artificial tax-saving tricks (“jugaads”) while filing ITR Don’t Claim Section 10(14)(i) Allowances Just to Save Tax Recently, several social media posts and videos have suggested that taxpayers can reduce their tax liability under the New Tax Regime by claiming exemptions under Section 10(14)(i). However, this exemption is often misunderstood and wrongly applied.ย What is …