Blogs
GST Filing Changes in July 2026: Everything Businesses Need to Know
Summary: From around July 2026, GST filing is becoming stricter as the government moves to hard-lock input tax credit (ITC) in GSTR-3B. Following the July 2025 change that locked outward liability, the next phase restricts ITC to what is auto-populated from GSTR-2B,...
GSTR-3B ITC Locking Explained: How the New Rule Will Affect Businesses
Summary: GSTR-3B ITC locking means the input tax credit you can claim in your monthly return is fixed to the amount auto-populated from GSTR-2B, and you cannot manually increase it. This follows the July 2025 change that locked outward tax liability. In practice, it...
GST Appeal Deadline Extended to 31 July 2026: Who Should File and How?
Summary: The government has extended the deadline for filing appeals and applications before the GST Appellate Tribunal (GSTAT) to 31 July 2026. This extension applies mainly to appeals where the order being challenged was communicated before 1 May 2026, and to...
ITR Filing Last Date 2026: Deadlines, Penalties and Late Filing
Summary: The ITR filing last date for FY 2025-26 (AY 2026-27) is 31 July 2026 for most salaried individuals filing ITR-1 or ITR-2. Businesses needing an audit have later dates. Missing the deadline means a late fee of up to Rs 5,000 under Section 234F (Rs 1,000 if...
What Are the 7 Types of ITR?
Summary ITR forms are chosen by taxpayer type and income profile. ITR-1 suits many salaried residents with simple income. ITR-2 fits individuals and HUFs without business income. ITR-3 is for individuals and HUFs with business income. ITR-4 is for eligible...
What Is the Penalty for Late Filing of Income Tax Return?
Summary Late filing can trigger a section 234F fee. The fee is ₹5,000 for income above ₹5 lakh. It drops to ₹1,000 when total income is up to ₹5 lakh. If tax is still unpaid, interest may also apply. 80c in new tax regime is not available. Taxpayers in Thane often...
ITR-4 Joins the Dots Between Income & Financial Position
Summary ITR-4 is for eligible taxpayers using presumptive income rules. It helps show both earnings and the financial picture behind them. Clean income data reduces filing errors and notice risk. A chartered accountants firm can make the return easier to prepare. A...
Zero Income Tax on Rs 15 Lakh CTC? Can It Really Happen in India?
Summary A 15 lakh CTC is not the same as 15 lakh taxable income. The current new tax regime gives a standard deduction of up to ₹75,000, but zero tax only becomes realistic when taxable income is pulled down much further. For businesses, GST return filing and income...
GSTR-8 Return Filing: Format, Eligibility and Rules Explained
Summary GSTR-8 is the monthly TCS statement for registered e-commerce operators. It reports supplies made through the platform and tax collected at source. The due date is the 10th day of the next month. Late fee applies for return periods from October 2022 onwards....
