A cook from a dhaba in Madhya Pradesh, identified as Ravindra Singh Chauhan, was shocked to receive an Income Tax notice for over ₹46 crore in suspicious bank transactions. He works at a roadside eatery and says his yearly bank transactions do not exceed ₹3 lakh, so the notice was completely stunning to him. The … Read more
This news post details how Gopal Snacks, a prominent Rajkot-based snack manufacturer, is preparing for stronger growth this year. The company’s strategy is driven by two key factors: a recent GST rate cut and a significant expansion into new markets. The reduction in the Goods and Services Tax (GST) from 12% to 5% is a … Read more
ITR filings for the financial year 2024-25 are lagging significantly as the September 15 deadline for non-audit cases looms. With only five days left, taxpayers and chartered accountants (CAs) are urgently appealing to the Central Board of Direct Taxes (CBDT) for an extension. Why an Extension Is Needed The slow filing rate—just 4.89 crore returns … Read more
ITR Filing Deadline Alert: Don’t Miss the September 15th Cutoff! The Income Tax Department has issued a final reminder for the ITR filing deadline for the financial year 2024-25 (Assessment Year 2025-26), urging taxpayers to complete their returns by September 15, 2025. The government had already extended the original July 31st deadline, and authorities have … Read more
ITR Filing Deadline Nears: Your Last-Minute Checklist Before September 15 With the September 15 deadline for filing Income Tax Returns (ITR) for the financial year 2024-25 (Assessment Year 2025-26) fast approaching, taxpayers have a critical, and now limited, window to ensure compliance. The usual July 31st deadline was extended, but experts advise against waiting until … Read more
Why a Taxpayer Will Not Get the ₹1.25 Lakh Exemption on Selling Gifted Shares A common query among taxpayers involves the sale of gifted shares and the eligibility for capital gains tax benefits. While it’s often assumed that the ₹1.25 lakh exemption on long-term capital gains (LTCG) under Section 112A is straightforward, a critical condition … Read more
No, the ITR filing deadline is unlikely to be extended. The deadline for filing Income Tax Returns (ITR) for the 2024-25 financial year is September 15, 2025. This date, which applies to non-audit taxpayers, is already an extension from the original July 30 deadline. Despite requests from tax experts and associations due to technical glitches … Read more
Next-Gen GST Reforms Slash Rates on Electronics — Driving Demand, Boosting Localisation, Creating Jobs, and Powering India’s Affordable Digital Growth The recent next-gen reforms in Goods and Services Tax (GST) are set to boost sectors under the Ministry of Electronics and Information Technology (MeitY), particularly consumer electronics and ICT hardware. The rate reductions will make … Read more
A New Era for Indian Agriculture: PM Modi’s GST Reforms The new Goods and Services Tax (GST) rates are being hailed as a major win for India’s agriculture and dairy sectors. With significant reductions in taxes, farmers, agricultural workers, and livestock owners across the country are expressing their gratitude to Prime Minister Narendra Modi and … Read more
Gold prices have seen a significant increase. According to data from the Indian Bullion and Jewellers Association (IBJA) on September 9, 2025, the retail selling price of 10-gram gold jewellery of different purities has jumped in a single day. Understanding the Tax on Gold Jewellery When you purchase gold jewellery, which is typically made from … Read more
