Month: September 2025
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Missed the ITR Deadline for FY 2024-25? Here’s What You Can Still Do
Table of Contents 1. Introduction The Income Tax Return (ITR) filing due date for FY 2024-25 (AY 2025-26) was 15th September 2025. Many taxpayers could not meet the deadline due…
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GST Late Fee in September 2025: Update
Table of Contents 1. Introduction Timely filing of GST returns is one of the most important compliance requirements for businesses in India. Many small businesses delay filing due to cash…
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Wrongly Rejected Invoices on IMS? Here’s How to Reclaim Input Tax Credit
1. What is the Invoice Management System (IMS)? The Invoice Management System (IMS) was introduced by GSTN from 1 October 2024 to improve ITC matching between suppliers and recipients. It…
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Complete Shift from MCA V2 to MCA V3 – What Every Business Should Know
Table of Contents Introduction India has taken a significant digital leap by completely migrating from the MCA V2 portal to the MCA V3 platform, marking a new era in corporate…
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NRI Funds, NRE FDs & Loans to NRO – A 360-Degree Compliance Guide
1. Background of the Typical Case An Indian national works and resides outside India. His foreign-salary savings are remitted through normal banking channels into a Non-Resident External (NRE) account. Those…
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Professional Tax Mandatory for all GST Registered Businesses – New Amendment
Introduction In a significant compliance shift, Professional Tax (PT) registration is now mandatory for all GST-registered businesses, regardless of turnover or employee count. This rule, already implemented in states like…
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Rental Advances & Rental Deposits in India
A Chartered Accountant’s Practical Guide (FY 2025-26 edition) Why this matters: Almost every lease—whether for a modest home or a marquee office floor—starts with an “advance” or “deposit”. The tax,…
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Missed Filing GSTR‑1 or GSTR‑3B? New ₹10,000 Fine Rule from July 2025 Explained
1. What’s Changing in July 2025? Starting from the July 2025 return period (i.e., returns due in August 2025), the Government has notified a uniform late fee cap of ₹10,000…
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CBDT Extends Processing of Late-Filed ITRs (Under Condonation): Refunds Allowed Till March 2026
Table of Contents 1. Introduction In a major relief to taxpayers who filed their ITRs late under condonation, the CBDT has issued Circular No. 7/2025 extending the processing timeline of…
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Wrongly Rejected Invoices on IMS? Here’s How to Reclaim Input Tax Credit
1. What is the Invoice Management System (IMS)? The Invoice Management System (IMS) was introduced by GSTN from 1 October 2024 to improve ITC matching between suppliers and recipients. It…
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