If your business purchases goods or services from MSMEs, the new Income Tax rule under Section 43B(h) can directly impact your tax calculation. Starting from FY 2024–25, delayed payments to MSMEs can lead to disallowed expenses and increased taxable income. What is Section 43B(h)?(MSME Payment Rule) Section 43B(h) mandates that: Payments to registered MSMEs must … Read more
Are you an NRI earning income both in India and abroad?Are you worried about paying double tax or getting income tax notices from India?This blog explains everything about NRI Taxation 2025 — including the new 120-day rule, DTAA, residential status, foreign income taxability, and tie-breaker rule. 1. Who is an NRI under Indian Income Tax … Read more
Exports are zero-rated under GST. This means exporters don’t pay tax on goods they export — but what about the input GST they paid on purchases? That’s where refunds come in. This blog explains the refund process, two methods, documents needed, and what to do if refund is not credited or delayed. Two Ways to … Read more
If you receive advance payments from customers – either for goods or services – you need to understand how GST on Advances applies. The time of supply determines when you must pay GST to the government. What is “Time of Supply” Under GST? Time of Supply under GST means the point at which a supply … Read more
Exporting your services outside India? Then you must know how GST refunds on export of services. Many startups, freelancers, IT companies, and consultants export services to clients abroad — but face confusion on LUT, IGST refund, bank realization, and refund rejection. This blog will explain everything with real-life examples, legal sections, and practical tips for … Read more
If your business gives free gifts, foreign tours, gadgets, or promotional items to agents, dealers, influencers, or doctors — you must now follow new TDS rules under Section 194R of the Income Tax Act. From FY 2024–25 onwards, the Income Tax Department is strictly monitoring these transactions. This blog will help you understand how Section … Read more
If you’ve received a DRC-01A notice under GST, don’t panic. It’s not a penalty, but a chance to explain discrepancies before the GST officer raises an official demand. Responding timely and correctly can save you from penalties, interest, and future litigation and how to reply to DRC-01A. How to Reply to DRC-01A – Step-by-Step Sample … Read more
If you’ve received an income tax notice — don’t panic! Many honest taxpayers get notices for simple mismatches, calculation mistakes, or documentation issues. In this detailed blog, we will explain everything about Income Tax Notices under Section 139(9), 143(1), 148, and 270A in easy English, with examples, reasons, and how to reply. What is an … Read more
GSTR-9 And GSTR-9C are important annual compliance forms under GST. Every regular taxpayer must file them once the financial year ends. These forms cover your yearly business summary – sales, purchases, ITC claimed, tax paid, and reconciliations. What is GSTR-9? GSTR-9 is an annual return under Section 44 of the CGST Act, 2017. It provides … Read more
Are you a business with multiple branches across India? Confused about how to share input tax credit (ITC) of services like audit fees, rent, or software across locations? That’s where ISD under GST comes into the picture. This guide will help you understand everything about Input Service Distributor(ISD) in GST in a simple way. What … Read more