Month: September 2025
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Beware Taxpayers – Rectification of Earlier ITR Processings to Deny Loss Set-off in Belated Returns – New Departmental Approach
1. Introduction In recent months, the Income-tax Department has adopted a new operational approach wherein earlier-processed Income-tax Returns (ITRs) — especially those in which set-off of brought-forward business losses was allowed despite belated filing — are…
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UPI Changes by RBI: What You Should Know
India’s Unified Payments Interface (UPI) continues to reshape how millions transact electronically. To maintain security, reliability, and performance amid soaring usage, the Reserve Bank of India (RBI) and NPCI have…
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WH Smith’s Fraud Probe and Shares down by 40%: What’s Really Going On?
If you’ve ever strolled through an airport terminal, chances are you’ve come across a WH Smith outlet. Whether it’s grabbing a quick sandwich, a glossy magazine, or a travel charger…
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Dream11 Ban Explained: Addiction, Taxes, and India’s New Gaming Law
On 22nd August 2025, India’s biggest fantasy sports platform, Dream11, suspended all real-money contests. Overnight, millions of users who were used to creating teams, staking money, and winning cash prizes…
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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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