As a retired senior citizen in India, navigating your taxes, especially with income from interest and capital gains, can feel like a maze. Let’s simplify how your tax would be calculated for the Financial Year 2024-25 (Assessment Year 2025-26), keeping your specific income in mind. Your Income Breakdown You’ve got a mix of income sources: … Read more
GST authorities have cracked down on ₹15,851 crore in fraudulent Input Tax Credit (ITC) claims between April and June of the current fiscal year. This marks a significant 29% increase in detected fraud compared to the same period last year. Officials also uncovered 3,558 fake firms involved in these schemes, leading to 53 arrests and … Read more
Don’t Miss This: Your AIS is Key to a Smooth ITR Filing 2025! The deadline for filing your Income Tax Return (ITR) for Financial Year (FY) 2024-25 (Assessment Year (AY) 2025-26) is now September 15, 2025 – an extension from the usual July 31st. This gives you extra time to ensure your e-filing is accurate, … Read more
The Indian government is set to significantly diversify its capital expenditure (capex) strategy for the fiscal year 2026. Moving beyond its traditional focus on roads and railways, which currently absorb almost half of the ₹11.21 lakh crore capex budget, the government plans to broaden its investments into urban infrastructure, ports, shipping, and civil aviation. Shifting … Read more
Income Tax Returns (ITR) for Salaried Professionals: Key Dates and Penalties for FY 2024-25 Good news for salaried professionals and individuals not requiring an audit! The deadline for filing Income Tax Returns (ITR) for the Financial Year 2024-25 (Assessment Year 2025-26) has been extended. Revised Due Date: This extension, announced by the Central Board of … Read more
G.S.R. 481(E).—In exercise of the powers conferred by sub-section (1) of section 25 of the CustomsAct, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do,hereby makes the following further amendments in the notification of the Government of India in the Ministry ofFinance (Department … Read more
Delhi Secures ₹600 Crore from Centre for Development New Delhi: Delhi Chief Minister Rekha Gupta met Union Finance Minister Nirmala Sitharaman on Wednesday, successfully securing an assurance of ₹600 crore under the Centre’s “Special Assistance to States for Capital Investment (SASCI)” scheme. These crucial funds are expected to be released by the end of July, … Read more
Govemment of lndiaMinistry of Corporate AffairsCL-l Se€tionNo. 1/3212013’CLV[Pa.r)New Delhi, the 18u,july, 2025Public Noticeln continualion of the Public Notice ol even no. dated 26.06.2025, thetimeline for inviling suggestions/comments on draft notification lor amendment inCompanies (lvleetings of Board and its Powers) Rules, 2014 is hereby extendedupto 28’h July, 2025.
Advisory on reporting values in Table 3.2 of GSTR-3B Jul 19th, 2025 Kindly refer to the advisory on table 3.2 of GSTR-3B, issued on 11th April 2025, wherein it was informed that, from April 2025 tax period, inter-State supplies auto-populated in Table 3.2 of GSTR-3B on the GST portal would be made non-editable and GSTR-3B … Read more
For many individuals and Hindu Undivided Families (HUFs), especially those with business or professional income, filing Income Tax Return (ITR-3) is a common requirement. This often brings up a crucial question: is it mandatory to maintain your books of accounts? Let’s break down everything you need to know. Who Needs to File ITR-3? ITR-3 is … Read more