Bitcoin Surges Past $123,000: A Guide to Booking & Reporting Crypto Gains in India Bitcoin has hit a new all-time high, crossing the $123,000 mark, igniting excitement among over two crore crypto investors in India.1 This massive rally, which has seen a ₹1 lakh investment in Bitcoin grow to over ₹12 lakh since July 2020, … Read more
The tax filing season for Financial Year 2024-25 (Assessment Year 2025-26) is underway, and with over a crore returns already submitted, it’s crucial to pick the right Income Tax Return (ITR) form. While ITR-1 and ITR-4 utilities are currently active for e-filing, ITR-2 and ITR-3 are expected to be enabled soon. Good news for taxpayers: … Read more
It sounds like you’re asking me to rewrite the LinkedIn post you provided about ULIPs and their updated tax rules. I’ll summarize the key changes and their implications for investors in a more structured and easy-to-understand format. Here’s a rewritten version of the post: ULIPs: A Major Tax Shift Investors Can’t Ignore (Especially Above ₹2.5 … Read more
IMPORTANT ANNOUNCEMENT The result of the Post Qualification Course – InternationalTaxation (INTT)– Assessment Test held in May 2025 is likely to bedeclared on 6th July 2025 and the same can be accessed by candidateson the Institute’s website www.icai.org.It may be noted that for accessing the result at the abovementioned website, the candidate shall have to … Read more
Fixed deposits (FDs) are a popular choice for investors in India seeking safety and guaranteed returns. However, many overlook crucial tax implications that can silently eat into their earnings. CA Nitin Kaushik sheds light on what most investors miss. The Hidden Drain: How FD Interest is Taxed “FD interest is taxable whether or not you … Read more
Mandatory MOV-09 Issuance: Allahabad High Court Upholds Assessee’s Right to Appeal In a significant ruling, the Hon’ble Allahabad High Court has declared that the GST Department must issue a penalty order in Form GST MOV-09, even if the assessee has already paid the penalty “under protest” to secure the release of detained goods. This decision, … Read more
If you’re considering rebalancing your mutual fund portfolio by selling some units and reinvesting the proceeds, it’s crucial to understand the tax implications. Many investors assume that simply moving money from one fund to another, especially within the same fund house, might be tax-exempt. However, as explained by CA Foram Naik Sheth of NPV Associates … Read more
A significant ruling from the Delhi High Court mandates that applications for revocation of GST Registration cancellation must be decided within one month. This directive came in the case of M/s. JMD Enterprises v. Sales Tax Officer, AVATO, decided on May 15, 2025. Case Details The petitioner, M/s. JMD Enterprises, challenged an order from April … Read more
Introduction of Enhanced Inter-operable Services Between E-Way Bill Portals GSTN is pleased to inform that NIC shall be launching the new E-Way Bill 2.0 portal (https://ewaybill2.gst.gov.in) on 1st July 2025, featuring enhanced inter-operable E-Way Bill functionalities. The portal is being introduced to provide enhanced inter-operability between the existing E-Way Bill 1.0 Portal (https://ewaybillgst.gov.in) and the new portal. 1. ObjectiveThe new E-Way Bill 2.0 … Read more
The Reserve Bank of India (RBI) recently trimmed the repo rate by 50 basis points, bringing it down to 5.50%. This move is designed to inject vitality into the economy amidst cooling inflation. While good news for borrowers, it has distinct implications for your Fixed Deposit (FD) returns and the tax you’ll owe on that … Read more