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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

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

Updates in Refund Filing Process for Various Refund Categories – Reg

The GSTN implemented significant updates to the refund filing process, effective from May 8, 2025. These changes are designed to streamline procedures and reduce complexities for taxpayers, especially those involved in exports and supplies to Special Economic Zones (SEZs). Here’s a detailed overview of the changes and their implications for taxpayers. Applicable Refund Categories The revised procedure applies to the following three categories of refunds: These categories are widely used… Read More »Updates in Refund Filing Process for Various Refund Categories – Reg