Artificial Intelligence (AI) is revolutionizing many industries, and the field of income tax compliance is no exception. As governments, businesses, and individuals navigate increasingly complex tax laws, AI technologies are playing a crucial role in making tax compliance more efficient,…
E-invoicing under the Goods and Services Tax (GST) system in India has undergone significant evolution since its introduction. Designed initially for large enterprises, it has steadily expanded to include more businesses across various sectors. As we move through 2025, new…
For many micro and small businesses, complying with GST can feel overwhelming—multiple returns, monthly deadlines, and strict record-keeping. To simplify this, the Government introduced a concessional tax system known as the Composition Scheme. It is designed for small taxpayers who…
With effect from mid-2025, the GST regime in India is undergoing significant compliance tightening — especially in relation to GSTR-3B (monthly summary return) and GSTR-9 (annual return). These changes aim to improve data accuracy, close loopholes, and enforce discipline in…
Every taxpayer aims to reduce their tax burden, and rightly so, however same should be as per provisions of the Income Tax Act. Taxes are a significant financial obligation, and efficient planning helps individuals and businesses manage their money better.…
Selling real estate in India often yields substantial profits, but it also triggers several tax obligations under the Income Tax Act, 1961. For the financial year 2025–26, recent amendments introduced through the Income Tax (Amendment) Bill, 2025 and Budget 2025…
Introduction For any business operating in India, obtaining a Goods and Services Tax (GST) registration is a foundational step toward legal compliance. The process, conducted entirely online through the official GST portal and it is designed for convenience but can present certain complexities…
Starting a business involves several key decisions, and one of the most crucial is selecting the right legal structure. The structure you choose will influence ownership, taxation, compliance obligations, and even your ability to attract investors. In India, three commonly…
The concept of “gifts” often brings joy, but under the Income Tax Act, not every gift is tax-free. To prevent misuse of gifts as a means of transferring unaccounted money, the Income Tax Act, 1961, under Section 56(2)(x), lays down…
Running a small or medium enterprise (SME) is no easy task. Business owners often handle many roles at once—managing operations, keeping customers happy, growing sales, and leading their teams. In this busy routine, one important area often gets less attention…