The new Income Tax Act, 2025, effective from April 1, 2026, replaces the six-decade-old Income Tax Act, 1961, with simplified provisions, reduced sections, and clearer tax rules. Key highlights include new tax slabs, higher deductions, elimination of notional rent, rationalised TDS/TCS, clear taxation on virtual digital assets and a focus on digital compliance.
08 October 2025
601 Views
Confused between the Old and New Tax Regimes under the Income Tax Act 2025? This complete guide explains key differences, tax slabs, deductions, and benefits for FY 2025-26, helping you choose the regime that maximises your tax savings with ease.
India's Bonus Act needs reform. With India's growth, it's time to raise the 8.33-20% bonus limit and restructure salaries to match global living standards.
Stay updated with the latest GST changes! Learn from Arjuna and Krishna’s conversation about key updates on post-sales discounts, invoice-wise TDS reporting in GSTR-7, filing restrictions on old returns, and the new online process for filing appeals before the GST Appellate Tribunal (GSTAT).
Updated after the 56th GST Council Meeting (Effective 22 Sept 2025) - All TVs, including LED and Smart TVs of every size, will now attract a uniform 18% GST rate.
06 October 2025
2295 Views
GST 2.0 reforms, effective from October 1, 2025, introduce major filing changes following the 56th GST Council meeting - Manual GSTR-2B generation, 180-day ITC limit, mandatory ISD registration, time-bar on old returns and a new five-slab tax rate structure.
06 October 2025
285 Views
A heartwarming and humorous conversation between senior Chartered Accountant CA Raj Jaggi and his young colleagues blending wit, wisdom and faith. Through stories of gratitude, discipline, and daily devotion, he reveals timeless lessons on success, family, fitness, and the spiritual art of showing up early in both life and work.
CBIC, through Instruction No. 06/2025 dated October 3, 2025, has introduced a risk-based provisional refund system under GST to speed up refunds and improve cash flow for taxpayers.
06 October 2025
673 Views
Advance Tax, known as "Pay As You Earn," requires taxpayers with a net liability above Rs 10,000 to pay income tax in instalments throughout the year. Learn who must pay, due dates, calculation steps, exemptions, penalties and benefits of timely payment under the Income Tax Act, 1961.
Explore key 2024 Allahabad High Court rulings clarifying that penalties under Section 129 of the CGST Act cannot be imposed for minor clerical or technical errors in e-way bills without intent to evade tax. Learn how courts uphold bona fide mistakes as non-penalizable under GST.
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