CAclubindia Articles

New ITR Form 5 for AY 2025-26: Key Highlights Explained

Rashmi 05 May 2025 at 08:28

The Income Tax Department has released a revised Income Tax Return (ITR) Form 5, notified by CBDT via Notification No. 42/2025 dated May 1, 2025, applicable from April 1, 2025, for the Assessment Year 2025-26.

GST Revenue at All-Time High - A Genuine Growth or a Systematic Loot of Honest Taxpayers?

CA Digant Shah 05 May 2025 at 08:28

As a tax professional witnessing ground realities daily, here's why the so-called "GST success story" may be less about growth and more about enforcing revenue through manipulation and fear.

GST Registration Just Got Easier: New Grievance Redressal Mechanism Introduced

CA. Bhavik P. Chudasama 03 May 2025 at 14:07

On 2nd May 2025, CBIC released Instruction No. 04/2025-GST, which introduces a formal grievance redressal mechanism for GST registration applicants.

New ITR-3 Form for AY 2025-26: Key Changes, Who Should File & How to Prepare

Rashmi 03 May 2025 at 08:36

This article covers all the critical changes introduced, the implications for taxpayers, and how to prepare for the new reporting requirements.

Place of Supply under GST: A Complete Guide

CA Shiwali Dagar 03 May 2025 at 08:30

Understand the concept of Place of Supply under GST and its crucial role in determining whether a transaction is intra-state or inter-state, impacting the applicability of CGST, SGST, or IGST. Learn about key provisions under Sections 7 to 13 of the IGST Act, 2017.

Simplified Taxation for Small Businesses: Understanding the Composition Scheme under CGST Act, 2017

CA.Sangam Aggarwal 02 May 2025 at 08:35

Under the CGST Act, 2017, businesses are required to obtain GST registration once their aggregate turnover exceeds the prescribed threshold limits - Rs. 40,00,000 for suppliers of goods and Rs. 20,00,000 for providers of services.

RBI's 2025 Master Direction on Credit Reporting: Key Changes & Impact Explained

Affluence Advisory 02 May 2025 at 08:35

The Reserve Bank of India (RBI), in its continued commitment to promote financial discipline, transparency, and consumer empowerment, issued the Master Direction - Credit Information Reporting, 2025 on January 6, 2025

Capital Gains Tax: Key Exemptions and How to Claim Them

Shivani 01 May 2025 at 16:36

This article explores the key exemptions detailed in a document from the Income Tax Department, covering eligibility, qualifying assets, and investment requirements for each section.

Non-Taxability of Lorry Hire Income Under GST

Rajagopal K 01 May 2025 at 08:40

This article clarifies the non-taxability of lorry hire income under GST, backed by relevant legal provisions, notifications, and case law.

Income Tax Return Forms ITR-1 and ITR-4 for AY 2025-26: Key Changes and Eligibility

Rashmi 01 May 2025 at 08:33

CBDT has officially notified the updated ITR-1 (Sahaj) and ITR-4 (Sugam) forms for Assessment Year 2025-26 (Financial Year 2024-25), effective from April 29, 2025