GST Reforms in India 2025: New Rates, Slabs, and Key Changes India has introduced significant GST reforms in September-October 2025, aiming to simplify the tax system, reduce compliance burden, and…
GST Amnesty Scheme: Eligibility, Benefits, and Challenges The GST Amnesty Scheme provides relief to taxpayers who missed filing certain GST returns or whose registrations were cancelled. It allows waiver or…
All About Reverse Charge Mechanism (RCM) Under GST The Reverse Charge Mechanism (RCM) under GST is a system where the responsibility to pay tax is shifted from the supplier to…
With the introduction of the Goods and Services Tax (GST), the tax structure on gold in India has undergone major changes. At present, a uniform 3% GST is applicable on…
Debit Note vs Credit Note: Key Differences Businesses use debit and credit notes as formal accounting documents to manage purchase returns and sales returns. These notes indicate to the buyer…
Section 11 of the Income Tax Act: Tax Exemption for Charitable Trusts To encourage the work of religious and charitable organizations, the Indian government offers tax exemptions under Section 11…
Section 80EEA – Additional Deduction on Home Loan Interest for Affordable Housing Overview: Section 80EEA provides an extra deduction of up to Rs. 1.5 lakh per year on home loan…
Section 43B(h) of the Income Tax Act: Applicability, Due Date, Limit & Example Section 43B(h) provides that any amount payable to Micro and Small Enterprises (MSEs) for goods supplied or…
Section 36 of the Income Tax Act: Deductions for Business Expenses The Income Tax Act, 1961 provides several deductions to help taxpayers reduce their tax burden. Section 36 lists specific…
Section 112A of Income Tax Act – Long-Term Capital Gains on Shares Long-term capital gains (LTCG) on shares refer to profits earned from selling equity shares or units of equity-oriented…