In the complex world of taxation, one element often determines whether a business or individual stays on the right side of the law: documentation. Proper recordkeeping is not just a best practice—it’s the foundation of tax compliance. Without it, even the most well-intentioned taxpayer can face audits, penalties, or missed opportunities for deductions and credits. Whether you are an individual, a small business, or a…
Have you ever stared at a GST demand order and wondered how long the appeal would drag on—or how many trips to different offices it would take? Those days might be numbered. On 24 April 2025, the Government of India switched on the long-awaited Goods and Services Tax Appellate Tribunal (GSTAT) and, with it, a fully digital portal that promises to make tax disputes quicker,…
In a significant step toward digitizing India’s regulatory ecosystem, the Reserve Bank of India (RBI) has rolled out PRAVAAH – the Platform for Regulatory Application, Validation And AutHorization. Designed as a secure, web-based portal, PRAVAAH is now the single-window interface for all regulatory applications submitted to the RBI. Starting May 1, 2025, RBI has mandated that all regulated entities—from banks and NBFCs to payment system…
With the rapid rise of India’s high-net-worth individuals, an increasing number of affluent families are embracing Family Offices to holistically manage their wealth, investments, and financial affairs. These offices offer personalized services, ranging from wealth management and estate planning to tax optimization and risk mitigation, meticulously tailored to each family’s unique needs. One of the most critical aspects of running a family office is Family…
Work discipline is more than just following the rules and policies. It means being dependable, managing your time well, and working with respect for others. It is what keeps a team productive and connected. Think of how ants operate: they move in perfect coordination, each ant takes responsibility, and together they collect food and build their home. That’s how discipline works: everyone plays their part…
Building on the government’s goal of streamlining tax collection with minimal administrative efforts, the Budget 2024 introduces new provisions for deducting TDS on partners’ income from the firm in the form of remuneration & interest. These provisions are effective for payments made on or after 1st April 2025. Section 194T can be summarized as: (1) Any person, being a firm, responsible for paying any sum…
In India, small business owners and professionals often struggle with the complexities of income tax compliance, particularly maintaining books of accounts and undergoing audits. To ease this burden, the Income Tax Act offers two powerful yet often misunderstood provisions — Section 44AD and Section 44ADA. These sections come under the Presumptive Taxation Scheme, aimed at simplifying tax filing for eligible taxpayers. With recent amendments raising…
In the complex world of monetary policy, few decisions attract as much attention as changes to the repo rate. When a central bank—like the Reserve Bank of India (RBI)—cuts the repo rate, it sends ripples across the entire economy. But what does a repo rate cut actually mean, and why should individuals, businesses, and investors care? What is the Repo Rate? The repo rate, officially…
The CGST Delhi East Commissionerate’s recent GST Registration Campaign 2025 has raised the bar for taxpayer engagement. Held over two-days in some of Delhi’s busiest market, the initiative not only drove new GST registrations but also aimed to reshape how business perceive GST officers – from enforcers to enables. For years, tax assessments and compliance checks have carried a reputation of being complicated, intimidating, and…
With March 31st around the corner, accountants in India are at the forefront of a high-stakes mission ensuring businesses close their financial year with precision and compliance. The shift into a new financial year on April 1st demands flawless planning and execution to dodge errors, penalties, and costly financial misstatements. This guide is your ultimate roadmap to navigating year-end financial compliance with confidence and ease.…
