By CA Shivam Gupta | Published: September 30, 2026 EXECUTIVE SUMMARY Purchasing immovable property from a Non-Resident Indian (NRI) has historically represented one of the most operationally burdensome tax compliance workflows for individual homebuyers in India. Unlike transactions involving resident sellers—which are streamlined through a PAN-based challan-cum-statement—acquisitions from NRIs previously required retail buyers to apply…

  Tax Audit 2026 Crisis Reaches Parliament & High Court: Extension Demands Peak & ITAT Delhi Delivers Vital Foreign Tax Credit Relief By CA Shivam Gupta | Published: September 26, 2026 EXECUTIVE SUMMARY With the statutory September 30 deadline for Tax Audit Reports under Section 44AB and Trust Audits under Section 12A/10(23C) less than 96…

 Budget 2026: Important Tax Proposals 1. Failure to furnish audit report shall now invite mandatory fee of ₹75000/- for delay up to one month and Rs. 1.5 lacs thereafter. It has been replaced by penalty provisions. 2. No exemption on transfer of sovereign gold bonds where gold bond is not subscribed at the time of…

 🌺 *Summary of Outcomes from the 54th GST Council.*   🍎 *1. Rates Reduced* 👉 *1.1 Namkeens* and Extruded/Expanded Savoury Food Products: GST rate reduced *from 18% to 12%* for certain savoury food products. 👉 *1.2 Cancer Drugs*: GST rate reduced from 12% to 5% on Trastuzumab Deruxtecan, Osimertinib, and Durvalumab. 🍎 *2. Rates Increased*…

 Financial Year 2023-2024 is about to close Let’s see Things to Do Before 31st March 2024:-  Basic checklist for 31st March, 2024. Income Tax: 1. Make necessary investments eligible for deductions thereby reducing taxable income for FY 2023-24 and ultimately save tax. (Eg: PPF, LIC, ELSS Mutual Funds, Health Insurance, etc..).   2. Calculate tax…

  Introduction: Artificial Intelligence (AI) systems have emerged as a transformative force, revolutionizing various sectors and reshaping the way we live, work, and interact. These intelligent systems have the ability to analyze vast amounts of data, learn from patterns, and make informed decisions without explicit human programming. From virtual assistants and autonomous vehicles to personalized…

  The Rise of E-Invoicing: Streamlining Business Transactions Introduction In today’s digital era, businesses are constantly seeking ways to enhance efficiency and optimize their operations. One significant development that has transformed the way companies handle invoicing processes is the advent of electronic invoicing, commonly known as e-invoicing. E-invoicing refers to the digital generation, exchange, and…

  Income Tax Changes From April 1, 2023   1)    New income tax regime to be default regime-Starting with the upcoming financial year 2023-24 which begins on April 1, 2023, the new income tax regime will act as the default tax regime. But keep in mind that the old regime continues to exist and those…

The Income Tax Department has announced the roll-out of a new statement namely Annual Information Statement (AIS) which would provide you with almost all details about your financial transactions during the year. So far, the Income Tax Department has been issuing Form 26AS to provide information related to taxable income and tax deducted at source…