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CA VK Agrawal

File Your ITR Before 15th September to Avoid Penalties and Financial Hassles

As the financial year 2024-25 comes to a close, individuals and Hindu Undivided Families (HUFs) not requiring an audit must ensure their Income Tax Returns (ITR) are filed on time. The government has extended the deadline to 15th September 2025, giving taxpayers a final opportunity to comply. Filing your ITR on time is essential to avoid penalties, interest on unpaid taxes, and other financial complications. Why Timely ITR Filing Matters… Read More »File Your ITR Before 15th September to Avoid Penalties and Financial Hassles

New Income Tax Bill 2025: Key Highlights and What It Means for Taxpayers

India’s tax system is undergoing a major transformation with the introduction of the new Income-tax Act, 2025, which will take effect from April 1, 2026. This new framework replaces the long-standing Income-tax Act of 1961, promising simpler rules, faster processes, and meaningful relief for individuals and businesses alike. One of the most talked-about changes is the revised tax regime, which makes incomes up to INR 12 lacs tax-free after factoring… Read More »New Income Tax Bill 2025: Key Highlights and What It Means for Taxpayers

Carry Forward of Share Trading Losses for AY 2025-26: A Complete Guide

Investing in the stock market can be rewarding, but it sometimes leads to losses. The IT Act lets you carry forward trading losses and adjust them against your income in the coming years. Understanding these rules is essential to maximize tax benefits and avoid filing errors. New Business Codes by CBDT The Central Board of Direct Taxes (CBDT) introduced new business codes in July 2025 to classify share trading activities.… Read More »Carry Forward of Share Trading Losses for AY 2025-26: A Complete Guide

TDS and TCS Changes You Should Know for FY 2025–26

The financial year 2025–26 is starting with some welcome changes to TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) rules. The government has revised several thresholds, simplified provisions, and removed a few compliance-heavy requirements. Let’s break it down in plain language so you know exactly what’s changing. Higher Thresholds for TDS The new rules mean fewer small transactions will attract TDS. This is great news for both… Read More »TDS and TCS Changes You Should Know for FY 2025–26

ITR-3 Filing for AY 2025–26: What’s New and What to Watch Out For

If you are a freelancer, professional, stock or crypto trader, or someone managing both a job and a business, you may need to file ITR-3 for the Assessment Year 2025–26. With several updates introduced this year, it’s important to understand what has changed and how to avoid common mistakes while filing. Key Changes in ITR-3 You Should Know The Income Tax Department has introduced several changes this year to improve… Read More »ITR-3 Filing for AY 2025–26: What’s New and What to Watch Out For

Updated Business & Profession Codes in ITR: What Every Taxpayer Should Know

If you are a freelancer, a trader, an influencer, or someone running your own business, tax season can feel confusing. But this year, there is something new that might actually make the process smoother. The Income Tax Department has updated its list of business and profession codes in the ITR forms. There are now almost 370 options to choose from. That might sound like a lot, but these updates are… Read More »Updated Business & Profession Codes in ITR: What Every Taxpayer Should Know

Don’t Get Fooled – Know the Real Deal Behind Tax Refund Claims

Lately, a growing number of salaried individuals have been approached by so-called tax magicians—agents who promise to maximize your income tax refund with minimal effort. Their pitch sounds tempting. They’ll handle your filing, promise a big refund, and all you have to do is sit back and share your details. But behind that smooth offer often lies a trap that could cost you far more than you ever expected to… Read More »Don’t Get Fooled – Know the Real Deal Behind Tax Refund Claims

CBDT Gives Relief to Taxpayers Waiting on Delayed ITR Processing

Filing your Income Tax Return can already feel overwhelming, and if you’ve ever had to file a delayed return under a condonation request, the wait for any kind of response from the Income Tax Department can be even more frustrating. Many taxpayers have found themselves in this exact situation — they submitted their returns electronically after receiving condonation approval, but the returns were never processed. Thankfully, there’s finally some good… Read More »CBDT Gives Relief to Taxpayers Waiting on Delayed ITR Processing

UAE’s ₹23 Lacs Golden Visa: A New Door Opens for Indian Professionals

The idea of living and working in the UAE has long been associated with high financial entry barriers — whether through property investments, business ownership, or long-term employment. But a new development may change that narrative for thousands of Indian professionals. The United Arab Emirates has launched a nomination-based Golden Visa, now available to Indian and Bangladeshi citizens as part of a pilot program. The price? AED 100,000 — roughly… Read More »UAE’s ₹23 Lacs Golden Visa: A New Door Opens for Indian Professionals

Delhi HC Allows Late GST Appeal Due to Absence of SCN and High ITC Demand

In a significant ruling that could offer relief to several taxpayers, the Delhi High Court recently granted permission to file a delayed appeal in a case where the assessee was unaware of a Show Cause Notice (SCN) and faced a substantial Input Tax Credit (ITC) demand. The case-Prince Diamond Jewellers (P) Ltd. v. Goods and Services Tax Officer, decided on 17th April 2025-highlights the importance of proper service of notices… Read More »Delhi HC Allows Late GST Appeal Due to Absence of SCN and High ITC Demand