Insights & Resources
Articles on tax, GST, audit, corporate law, FEMA and UAE matters. Each shows its period, author, reviewer, publication and review dates, and official sources.
The Income-tax Act, 2025 is now the operative framework for income arising from 1 April 2026. The most visible change for many taxpayers is terminology: the new law uses “Tax Year” rather than the previous-year…
The shift to the term “Tax Year” applies to income earned from 1 April 2026 onwards. This means Tax Year 2026-27 relates to income earned during the financial year beginning 1 April 2026. Older income periods c…
The Income Tax Department releases return utilities in stages. For AY 2026-27, the offline utilities for ITR-6 and ITR-7 were among the last to be released, in August 2026. Revised and belated returns…
Choosing a tax regime should be based on taxable-income composition and eligible deductions rather than a headline tax rate. Start with gross income by source, identify special-rate income separately, and then …
TDS compliance begins before payment. Identify the nature of payment, the payee status, the event that triggers deduction, the applicable section and whether a threshold or exception applies. For events on or a…
Advance tax should be managed as a rolling forecast rather than a four-date reminder. Begin with estimated annual taxable income, remove expected TDS/TCS and other eligible credits, then compare the resulting l…
For monthly filers, the GST Portal states that GSTR-1 is generally due by the 11th day of the succeeding month, subject to notified extensions. The filing process should begin with the sales register, not the p…
GSTR-3B is a summary return, so errors can be easy to hide inside totals. For monthly filers, the GST Portal identifies the 20th day of the succeeding month as the general due date, subject to extensions. Quart…
The Quarterly Return Monthly Payment scheme allows eligible taxpayers to file GSTR-1 and GSTR-3B quarterly while paying tax monthly. The GST Portal describes eligibility broadly around aggregate turnover up to …
A good ITC process matches three datasets: the purchase register, supplier-reported portal information and the tax actually claimed in the return. Differences should be categorised rather than simply carried fo…
HSN classifies goods while SAC codes are used for services. Correct classification affects rate, reporting and sometimes exemption or compliance treatment. A keyword match is therefore only a starting point.…
Audit preparation is easier when information is organised before fieldwork begins. Start with the trial balance, finalised ledgers, bank reconciliations, receivable/payable ageing, fixed-asset register, invento…
Internal control does not begin with a large policy manual. Start with the transaction cycles where cash, inventory, revenue and payments move through the business.…
A disciplined month-end close turns accounting data into reliable management information. Set a cut-off date and begin with bank, cash, sales, purchases and payroll completeness.…
A useful MIS answers decisions, not just accounting questions. Start with revenue, gross margin, operating costs, receivables, payables, inventory and cash. Compare actual results with budget and the previous p…
MSME classification and Udyam registration affect access to schemes and can interact with commercial and compliance processes. Businesses should use the official Udyam and Ministry of MSME portals rather than p…
The RBI’s Foreign Liabilities and Assets reporting framework applies to specified Indian entities with relevant foreign investment or overseas investment positions. Applicability should be checked against the c…
An Importer Exporter Code is a foundational identifier for many cross-border trade activities. Before using it, confirm entity particulars and ensure the DGFT profile remains aligned with PAN, address and autho…
APEDA supports and regulates specified agricultural and processed-food export sectors. Businesses dealing in scheduled products should check APEDA requirements together with DGFT, customs, food-safety and desti…
Food businesses should begin by identifying the nature and scale of activity and the appropriate FSSAI registration or licence category. Product standards, labelling, hygiene and record requirements can differ …
A trade mark protects brand identifiers such as names and marks, while patents protect qualifying inventions. The first step is to identify what business asset actually needs protection; a company name, a produ…
EPFO and ESIC both have recurring employer obligations, but the employee coverage, wage basis and scheme rules are different. A payroll team should maintain one control sheet that separately identifies EPF and …
UAE Corporate Tax and VAT are separate taxes. A business may have obligations under one or both frameworks depending on its activities, status and thresholds. The Federal Tax Authority publishes legislation, gu…
A bank-finance package should allow the lender to understand the business, historic performance, working-capital cycle, existing debt and the purpose of the requested facility. Begin with final or provisional f…
Before applying for GST registration, determine the legal entity, principal place of business, additional places, authorised signatory and nature of supplies. Registration should reflect the actual business str…
A regulatory feed is an early-warning mechanism, not a legal-opinion engine. Its job is to surface new official material quickly and preserve the source link, title and date.…
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