Aditya Narayan Parida 
Bengaluru, India – July 2025: In a significant crackdown on GST fraud, the Karnataka Commercial Taxes Department has exposed a massive inter-State fake billing racket involving bogus Input Tax Credit (ITC) claims worth ₹39 crore. The primary accused, identified as Kailash Bishnoi from Jalore …
New Delhi: The Delhi Government is reportedly preparing to introduce a one-time tax amnesty scheme aimed at settling legacy disputes related to Value-Added Tax (VAT), excise, and service tax, which predate the implementation of the Goods and Services Tax (GST) in July 2017. According to sources in …
With the ITR filing deadline extended to September 15, 2025, for non-audit cases, taxpayers must exercise caution while claiming deductions. The Income Tax Department is adopting a zero-tolerance approach towards false or ineligible claims in the Income Tax Return (ITR). Avoiding such errors …
Gujarat High Court judgment delivered today (July 8, 2025) in the case of Marcowagon Retail Pvt. Ltd. & Anr. v. Union of India & Ors ⚖️ Case Overview Parties & Supply Context: Marcowagon Retail exported goods (sports apparel) from Gurugram to Mundra …
A Section 8 Company, registered under the Companies Act, 2013, is formed for charitable or not-for-profit purposes such as promoting commerce, art, science, education, sports, research, social welfare, etc. While these companies are non-profit in nature, they are not automatically …
The Supreme Court has recently delivered landmark GST rulings, providing major relief to taxpayers. Key verdicts include allowing pre-deposit for GST appeals through Input Tax Credit, restricting arbitrary blocking of credit ledgers, and upholding dual taxation on digital services. These …
Ranchi, July 7: The Enforcement Directorate (ED) has filed a prosecution complaint against four individuals for their alleged involvement in a massive ₹734 crore GST Input Tax Credit (ITC) fraud. The chargesheet was submitted before the Special Court under the Prevention …
In a major relief for Go Digit General Insurance, the Bombay High Court has set aside a ₹170 crore tax demand raised by the Chennai South Commissionerate of GST & Central Excise. The court has also ordered a fresh hearing …
In a significant ruling, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has clarified that a reference to the District Valuation Officer (DVO) under Section 142A of the Income Tax Act, 1961, can only be made during the …
Section 80GG of the Income Tax Act, 1961, provides a deduction for individuals who pay house rent but do not receive House Rent Allowance (HRA) from their employer. This benefit is available to both salaried individuals (without HRA) and self-employed …
Paying rent for accommodation? You may be eligible to claim tax exemption on the House Rent Allowance (HRA) received from your employer under the Income Tax Act, 1961. HRA is a common component of salary, designed to help employees meet …
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for the girl child, offering attractive interest rates and tax benefits. Parents can open the account anytime before the girl turns 10. It provides tax deduction under Section 80C, tax-free interest, …
The Union Budget 2024 has introduced a significant change in the taxation of capital gains arising from the sale of immovable property. As per the announcement, indexation benefits will no longer be available for properties purchased on or after 23rd …
In a significant ruling, the Orissa High Court has clarified that only one valid GST assessment order can exist for the same financial year. The decision came in the case of Palem Ashok Reddy vs. Commissioner, GST & CX Commissionerate, Rourkela (W.P.(C) …
The Income Tax Department has released updated guidelines explaining how certain Income Tax Returns (ITRs) are selected for scrutiny. These latest directions aim to bring more transparency to the scrutiny process and help taxpayers understand the reasons behind receiving scrutiny …
Capital gain tax in India is levied on profits earned from the sale of capital assets such as property, shares, gold, or mutual funds. Gains are classified as short-term or long-term, depending on the holding period. Short-term capital gains (STCG) on listed shares …
In a remarkable instance of efficient governance, an individual recently shared an extraordinary experience of getting two Income Tax Returns (ITRs) processed and refunds credited within just three hours of filing. The incident highlights the Income Tax Department’s ongoing efforts …
The Income Tax Department has notified ITR forms for FY 2024-25 (AY 2025-26), with significant changes aimed at simplifying filing and enhancing compliance. ITR-1 and ITR-4 were released with new Excel utilities requiring detailed HRA, TDS, and deduction disclosures. LTCG …
Knowing the correct ITR form is crucial for accurate income tax return filing. Using the wrong form can lead to rejection of the return, delays in processing, penalties, or even legal scrutiny. Each ITR form is designed for specific categories …
If you have received a notice under Section 158BC related to your 80GGC claim, follow these steps: 1. Log in to the Income Tax Portal Visit the official Income Tax Portal and access the e-Proceeding tab. 2. Submit Form ITR-B File the required response by submitting Form ITR-B along …