Skip to content

CA SHARWAN

Exporters May Soon Get 90% Upfront GST Refunds Only After Law Change

The Indian export sector could be on the brink of a significant relief measure. The government has proposed a mechanism to allow exporters to receive 90% of Goods and Services Tax (GST) refunds upfront, aimed at easing cash flow challenges and boosting competitiveness. However, this long-awaited reform will only take shape after key amendments are made to the GST law. Why the Change is Needed Exporters have consistently raised concerns… Read More »Exporters May Soon Get 90% Upfront GST Refunds Only After Law Change

Section 44AD vs 44ADA: Which is Right for Content Creators and Consultants

The digital economy has created new opportunities for freelancers, influencers, consultants and content creators. While this freedom is rewarding, it also raises important tax questions. One common source of confusion is whether to declare income under Section 44AD, meant for businesses, or Section 44ADA, meant for certain professions. Understanding the difference helps reduce the risk of scrutiny from the Income Tax Department. Section 44AD and its benefits for businesses Section… Read More »Section 44AD vs 44ADA: Which is Right for Content Creators and Consultants

Major Update: CBDT Raises Prosecution Threshold for Undisclosed Foreign Assets

For businesses, professionals, and individuals dealing with taxes in India, staying updated with regulatory changes is essential. Recently, the Central Board of Direct Taxes (CBDT) announced a significant update regarding undisclosed foreign assets, and it is worth understanding how it affects taxpayers. What’s Changed The CBDT has increased the prosecution threshold under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from INR 5 lacs… Read More »Major Update: CBDT Raises Prosecution Threshold for Undisclosed Foreign Assets

Banks Tighten Rules on Overseas Remittances: Why the Right Purpose Code Matters

In recent weeks, Indian banks have begun tightening their scrutiny of outward fund transfers. Individuals and businesses sending money abroad can no longer rely on vague categories like “other services” or the generic S1099 code. Instead, remitters must now clearly declare the exact purpose of their transactions under the Reserve Bank of India’s (RBI) guidelines. This move is part of India’s broader push to enhance compliance, improve transparency, and curb… Read More »Banks Tighten Rules on Overseas Remittances: Why the Right Purpose Code Matters

Online Gaming Bill 2025: A Turning Point for India’s Gaming Industry

India’s gaming industry has been on a rapid growth trajectory over the past decade, fueled by affordable smartphones, cheap data, and rising interest in both casual and competitive gaming. With the passage of the Promotion and Regulation of Online Gaming Act, 2025, the sector has entered a new chapter. While the law has sparked controversy, especially with its ban on real-money gaming (RMG), it also signals a long-term opportunity for… Read More »Online Gaming Bill 2025: A Turning Point for India’s Gaming Industry

Taxman May Soon Get More Power to Curb Benami Realty Deals

The Indian government is getting ready to crack down harder on hidden property deals made in someone else’s name. These are transactions where properties are purchased in the name of someone else, often a person with no real financial background, while the true owners remain hidden. Such arrangements are common in slum areas and rural villages, and they not only encourage corruption but also weaken the tax system. Greater Access… Read More »Taxman May Soon Get More Power to Curb Benami Realty Deals

Income from House Property under the Income Tax Act for FY 2024-25

Owning a house brings financial security, but it also comes with certain tax responsibilities. The Income Tax Act clearly defines how income from house property is calculated and taxed. Whether the property is self-occupied or rented out, knowing the rules can help you save tax and plan better. What is Income from House Property? Income from house property simply means the money you earn by renting out your home, office,… Read More »Income from House Property under the Income Tax Act for FY 2024-25

ITR-5 Form for AY 2025-26: What Has Changed and How to File

If you are a partnership firm, LLP, Association of Persons (AOP), Body of Individuals (BOI), Artificial Juridical Person (AJP), business trust, or cooperative society, the ITR-5 form is your gateway to filing income tax returns. The Income Tax Department has introduced some important changes for the Assessment Year 2025-26 that every taxpayer in this category should know. Who Can File ITR-5 The ITR-5 form is designed specifically for certain types… Read More »ITR-5 Form for AY 2025-26: What Has Changed and How to File

SME IPO vs Mainboard IPO: What Every Investor Should Know

Investing in an IPO gives you the opportunity to become part of a company’s journey from day one. While many investors are familiar with mainboard IPOs, SME IPOs are also gaining traction, especially among those looking to support fast-growing small businesses. So what’s the difference between SME and mainboard IPOs, and which one might be the better choice for you? What is an SME IPO? SME IPOs are launched by… Read More »SME IPO vs Mainboard IPO: What Every Investor Should Know

Need to Pay Less TDS? Here’s How a Lower Deduction Certificate Can Help

If you’re a freelancer, consultant, landlord, or business owner who regularly receives payments with tax deducted at source (TDS), you’ve probably noticed how it impacts your cash flow. A flat TDS rate often doesn’t reflect your actual tax liability—and that can leave you waiting months for a refund. That’s where a Lower or Nil TDS Deduction Certificate under Section 197 of the Income Tax Act can make a real difference.… Read More »Need to Pay Less TDS? Here’s How a Lower Deduction Certificate Can Help