GST on Rent: What Changed in 2024 and What Small Business Owners Are Getting Wrong

CA Sneha Joshi CA · 2mos

GST

I have been getting 5-6 calls a week from small business owners confused about GST on rent. Let me clear this up once and for all. THE BASIC RULE (post July 2022 amendment) If you are a REGISTERED business and you take a property on rent — you must pay GST under Reverse Charge Mechanism (RCM) even... Show more

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Landmark ITAT Judgments of 2025 That Every Tax Professional Should Know

Adv. Rakesh Gupta Advocate · 1mo

Judiciary

As someone who argues cases before the ITAT regularly, I want to highlight five judgments from 2025 that have shifted the ground on important tax issues. Every practitioner needs to be aware of these. 1. REASSESSMENT UNDER SECTION 148A — EXPANDED SAFEGUARDS The Mumbai ITAT in a landmark ruling held... Show more

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434

I Got a GST Notice After 3 Years of Business — Here's What Happened

Ravi Krishnan · 2mos

GST

Three years into running my SaaS startup, I got a GST scrutiny notice. Nobody tells you how stressful this is when you are building a company. I want to share what happened so other founders know what to expect. THE NOTICE Got a DRC-01 notice (demand notice) claiming I had not paid GST on certain r... Show more

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GST Annual Return (GSTR-9): Common Errors and How to Avoid Them

CA Priya Sharma CA · 2w

GST

GSTR-9 (Annual Return) is due by December 31 every year. After reviewing hundreds of GSTR-9 filings, here are the errors that I see most frequently — and how to fix them. THE BASICS GSTR-9 is mandatory for all regular GST taxpayers. Composition dealers file GSTR-9A instead. Taxpayers with turnover... Show more

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394

Cross-Border Structuring: PE Risk in India for Foreign Companies Under Section 9

CA Rajiv Bhatia CA · 3w

International Tax

One of the most complex areas of Indian tax law is the determination of Permanent Establishment (PE) for foreign companies. Getting this wrong can result in the foreign company being liable to pay corporate tax in India on its Indian-attributable profits. With 22 years of international tax experienc... Show more

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How We Saved Rs 1.2 Crore in TDS Through Proper Certificate Management — A CFO's Playbook

Arjun Kapoor CFA · 2mos

Income Tax

I manage tax compliance for a Rs 500 crore manufacturing company. Last year we saved Rs 1.2 crore in TDS outflows — without any aggressive tax planning, purely through better certificate management. Here is what we did. THE PROBLEM WE WERE FACING We were deducting TDS at full rates on all vendor pa... Show more

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377

Capital Gains on Mutual Funds After Budget 2024: The New Math You Need to Know

CA Vikram Mehta CA · 1mo

Income Tax

Budget 2024 significantly changed the capital gains taxation on mutual funds. If you are an investor and haven't recalculated your strategy, this article is for you. THE KEY CHANGES (effective 23 July 2024) 1. LTCG ON EQUITY MUTUAL FUNDS Earlier: 10% on gains above Rs 1 lakh (with grandfathering a... Show more

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374

Transfer Pricing in India: 5 Traps That Cost Multinationals Crores

Arjun Kapoor CFA · 1mo

Transfer Pricing

As CFO of a company with multinational operations, transfer pricing is the single largest tax risk we manage. Here are five traps that I have seen companies fall into — some resulting in assessments of Rs 50 crore and above. TRAP 1: OUTDATED BENCHMARKING STUDIES Transfer pricing documentation requi... Show more

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Internal Audit vs Statutory Audit: Key Differences Every Professional Should Know

CA Karan Malhotra CA · 2w

Audit

I get asked this question regularly by articleship students and even by some clients who confuse the two. Internal audit and statutory audit serve fundamentally different purposes, even though both involve examining financial records. PURPOSE Statutory audit: Express an opinion on whether financial... Show more

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Tax Planning for High Net Worth Individuals: 7 Legitimate Strategies for FY 2025-26

CA Deepak Jain CA · 1w

Income Tax

With the new tax regime, many HNIs think tax planning is dead. It is not. The strategies have just shifted. Here are 7 approaches I use for my high net worth clients. 1. MAXIMISE NPS CONTRIBUTION Section 80CCD(1B) allows Rs 50,000 additional deduction over and above Section 80C. This is available e... Show more

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Bank Branch Statutory Audit: A Practical Guide for First-Time Auditors

CA Karan Malhotra CA · 1mo

Audit

Getting appointed as a bank branch statutory auditor for the first time is both exciting and daunting. The volume of work, the RBI guidelines, and the tight timelines can overwhelm you. Here is what I wish someone had told me before my first bank audit. UNDERSTANDING THE APPOINTMENT RBI empanels ch... Show more

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First-Time Company Incorporation in India: A Step-by-Step Guide for Founders

CS Fatima Khan CS · 1w

Company Law

I help founders incorporate companies every week. The process has become significantly smoother with SPICe+ (Simplified Proforma for Incorporating Company electronically Plus), but there are still common mistakes that delay things. Here is your complete guide. BEFORE YOU START — KEY DECISIONS 1. Pr... Show more

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GST on Works Contract: Classification, Rate, and ITC Issues Explained

CMA Kavita Singh CMA · 2w

GST

Works contract is one of the trickiest areas in GST. The classification determines the rate, the ITC eligibility, and even whether composition scheme applies. After handling multiple GST audits in the construction sector, here is a practical explainer. WHAT IS WORKS CONTRACT UNDER GST? Schedule II... Show more

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Capital Gains on Property Sale in 2025: TDS, Exemptions, and the Indexation Question

Suresh Menon Tax Consultant · 3w

Income Tax

I have been handling property transactions for 16 years and the number of people who get capital gains wrong on property sales is staggering. Let me give you the complete picture for 2025. SHORT TERM vs LONG TERM If you held the property for more than 24 months — it is long-term capital gain. Less... Show more

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Annual Return Filing (MGT-7) for Private Limited Companies: Complete Guide for FY 2024-25

CS Deepa Nair CS · 8h

Company Law

Every private limited company must file MGT-7 (Annual Return) with the Registrar of Companies within 60 days of the Annual General Meeting. Here is everything you need to know for FY 2024-25. WHAT IS MGT-7? MGT-7 is the Annual Return that captures a snapshot of the company as on the last day of the... Show more

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