Month: September 2025
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Set‑off and Carry Forward of Losses: Navigating New vs. Old Tax Regimes
Tax season often brings unwelcome surprises—especially losses. Fortunately, the Indian Income Tax Act provides avenues to soften the blow through set‑off and carry‑forward provisions. These rules remain largely consistent across…
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ITAT Bangalore Ruling: Gifted Land Sale Exempt from Tax
Clarifying how capital gains on gifted property are taxed under Indian law A recent judgment by the Income Tax Appellate Tribunal (ITAT), Bangalore bench, dated August 18, 2025, delivers valuable…
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5 Safe Investments That Can Offer Up to 12% Interest
When it comes to growing your money safely, finding options that offer high returns without taking on undue risk can feel like searching for a unicorn. Yet, in India, several…
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Key Decisions Proposed in 56th GST council meeting
Here’s a gist of the 56th GST Council Press Release (3rd September 2025) with important highlights: 1. GST Rate Changes on Goods Large number of daily-use food items (milk, butter, cheese,…
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India’s GST Overhaul: New Two‑Tier System Simplifies Taxation
New Delhi, September 3, 2025 – A landmark GST reform for businesses and consumers. What’s Changing? The GST Council has approved a new two‑tier structure, eliminating 12% and 28% tax…
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Navigating Form 10-IEA: Switching Between Tax Regimes with Business Income
With Section 115BAC, the new tax regime is the default from AY 2024-25 (FY 2023-24). Taxpayers with business or professional income must file Form 10-IEA to switch back to the…
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Common Mistakes to Avoid When Registering Your Startup in India
Launching a startup in India is full of anticipation, but the registration can also be a bit of a minefield. As a result, it’s not uncommon for many first-time founders…
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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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GST Council’s Major Decisions in August 2025 – Complete Guide
Introduction The Goods and Services Tax (GST) Council’s recent meeting in August 2025 brought significant reforms that will impact businesses, consumers, and the overall tax landscape. From tax rate changes…
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