GST Refund: Process, Eligibility, Time Limit & How to Check Status
A GST refund is an important feature under the Goods and Services Tax system that allows taxpayers to claim back extra tax they have paid or unused Input Tax Credit…
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What Is a Family Trust in India? Meaning, Benefits & How to Set It Up
A family trust is a legal arrangement in which a person, known as the settlor, transfers assets such as property, investments, or money to a trustee who manages them for…
ITR-U – What Is ITR-U Form and How to File ITR-U?
ITR-U – What Is ITR-U Form and How to File ITR-U? ITR-U, or Updated Income Tax Return, is a form that allows taxpayers to correct errors or omissions in their…
GST Refund on Flat and Insurance Cancellations for Unregistered Buyers
GST Refund on Flat and Insurance Cancellations for Unregistered Buyers The Goods and Services Tax (India) applies to many transactions, including the purchase of flats and insurance policies. However, complications…
VAT Registration – How to Apply Online, Process & VAT Number Search
VAT (Value Added Tax) is an indirect tax levied on the sale of goods and services. It is charged at every stage of value addition and ultimately borne by the…
Taxation of Private Trust under Indian Income Tax Act
With the introduction of e-filing, income tax return compliance for private trusts has become more structured. However, trustees often face confusion regarding: The correct method of tax computation Whether beneficiaries…
Section 147 of the Income-tax Act, 1961 (ITA) Demystified
The Finance Act, 2021 significantly overhauled the reassessment framework under Section 147 of the Income-tax Act, 1961, replacing the earlier provisions relating to income escaping assessment. Before understanding Section 147,…
Startup Registration India – 7 Steps to Register Your Startup
Startups are rapidly growing across India, supported by various government initiatives aimed at encouraging innovation and entrepreneurship. A startup is typically a business that introduces innovative products or services to…
Reasons to Hire a Local Chartered Accountant for Tax Filing
Reasons to Hire a Local Chartered Accountant for Tax Filing The Income Tax Act, 1961 governs India’s taxation system and requires taxpayers to disclose detailed information about their income, deductions,…
ITR Filing Last Date for FY 2025–26 (AY 2026–27)
For the Financial Year 2025–26 (Assessment Year 2026–27), the Income Tax Department has prescribed different ITR filing due dates based on the category of taxpayer and the applicable ITR form.…