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Managing finances, increasing income, and meeting the never-ending compliance standards are just a few of the difficulties that come with operating a business in India. Form DPT-3 is one such important yet frequently disregarded file. All Indian businesses, with the exception of government agencies, are required to submit this annual report detailing their deposits, loans, and non-deposit revenues. Every year on June 30th, firms must submit Form DPT-3 in order to avoid fines

The CGST Act's Section 38 deals with providing information on inward supplies, allowing the recipient to add, remove, or alter invoices that the provider provided in his outward supply report (i.e., GSTR-1). However, since this GST model was never put into practice, Section 38 has been modified under Section 104 of the Finance Act, 2022, to offer eligible and ineligible ITC in accordance with the current GST model. Because of the prevalence of input tax credit (ITC) fraud t

Medical expenses for aging parents often form a major part of household spending. Under Section 80D of the Income Tax Act, taxpayers can claim deductions for medical insurance premiums and certain medical expenses incurred for their parents. This benefit is particularly valuable when parents are senior citizens without health insurance. By claiming this deduction correctly, taxpayers can reduce their taxable income and manage healthcare costs more efficiently. Table of Conte

A compact car buyer might save over Rs. 70,000 thanks to the GST amendments, which went into effect on Monday, September 22, 2025. Household expenses for groceries and daily necessities would be reduced by 13%. According to government projections, purchases of stationery, apparel, shoes, and medications would result in savings of 7–12%, while individual health and life insurance policies—which are now exempt from GST —would result in savings of up to 18%. These are just a few

Income overlooked during assessments gets addressed in Sections 147 to 151 of the Income Tax Act. The assessing officer may still assess if they believe that some revenue was disregarded in the Income Tax Return (ITR) , regardless of whether the returns were filed or the evaluation finalized for the same return. This situation is known as income escaping assessment. Section 148A allows taxpayers to present their case on whether an income escaping assessment is necessary. The

For each EPF account holder, nomination is an extremely important step. In the event of the account holder's untimely death, the benefits of their PF contribution , interest, EDLI, and pension will be transferred to the nominee. Members of the EPF can amend or modify the nomination online after it is completed. Form 2, which the employer would submit to the EPFO, was initially used to change a nomination. The procedure has now been streamlined by the EPFO, and members can use

In India, gold is a valuable item that can be used as collateral in addition to being a cultural icon. The Goods and Services Tax  (GST) significantly altered the tax structure for a number of industries, and gold is no exception. In India, the Goods and Services Tax (GST) on gold, a valuable and highly sought-after commodity, has become a crucial consideration for investors and buyers. Currently, the value of gold, both 24 carat and 22 carat, is subject to a 3% GST rate , an

Prior to the implementation of the Goods & Services Tax (GST), all business owners and dealers were required to register under VAT. In their sphere of influence, state laws were in charge. As a result, each of them was given a TIN by the authorities in charge of collecting state-level taxes. The Central Board of Indirect Taxes and Customs (CBIC) assigns a comparable registration number to service providers. But since the GST was put into place, all taxpayers have been placed

All trusts, organisations, institutions, funds, and hospitals registered under Section 12A, Section 80G , or Section 12AA of the Income Tax Act are required to apply for new registration under Section 10(23C). Before the deadline, they must deliver Form 10A in the required format to the Principal Commissioner or a Commissioner designated by the CBDT. The Form 10A submission process is now made easier by the revised e-filing platform. Whether you're a new application or an e

Digital payments gained prominence in 2016 when the National Payments Corporation of India (NPCI) launched the Unified Payment Interface (UPI). Without their banking credentials, you can now quickly pay peers and merchants. All you require is their mobile number or Virtual Payment Address (VPA). While UPI transactions are convenient, you might sometimes face issues due to technical glitches, slow bank services, or other hiccups. It is vital to know how to file a complaint ab