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Plain-English guides, checklists and updates for individuals, startups and SMEs.
8 min read
Not sure which GST annual return to file? GSTR-9, GSTR-9A, and GSTR-9C apply to different taxpayer categories. This guide explains who files which form, the turnover thresholds, due dates, and what happens if you file the wrong one.
10 min read
When you exercise employee stock options (ESOPs), your employer must deduct TDS under Section 192A if the perquisite value exceeds ₹20,000. The tax is calculated on the difference between the fair market value and the exercise price. This guide covers when TDS applies, how to claim exemptions, and what to do if your employer does not deduct.
10 min read
TDS return filing requires the correct quarterly form (24Q, 26Q, 27Q or 27EQ), valid challan details, and submission before the due date. This guide covers who must file, which form to use, the step-by-step TRACES process, and common mistakes that trigger notices.
8 min read
Section 194IA requires buyers to deduct 2% TDS on property purchases above ₹50 lakh, deposited by the 7th under challan 281 and reported in Form 26Q. Failure triggers Section 201 interest, Section 40(a)(ia) disallowance, and Section 271H penalty — even when the seller demands the full amount without mentioning TDS.
9 min read
GST e-invoicing is mandatory for businesses with aggregate turnover above ₹5 crore (Notification 13/2020-CT as amended). Every B2B invoice must carry a 64-character IRN and QR code from the Invoice Registration Portal. Below the threshold, it is voluntary. Cancellation is allowed within 24 hours.
10 min read
Section 194Q requires a buyer whose turnover exceeds ₹10 crore in the previous FY to deduct 0.1% TDS on purchases of goods from a resident seller once the aggregate value crosses ₹50 lakh in the FY. TDS is calculated on the amount above ₹50 lakh, deducted at credit or payment, deposited under challan 281 by the 7th of the next month, and reported in Form 26Q.
9 min read
Section 206C(1G) collects TCS at 20% on most LRS foreign remittances, with lower or nil rates for education loans from specified Indian financial institutions and for remittances within RBI exemptions. The TCS paid in a financial year is allowed as a credit in your ITR — so the cash drag is real but the tax hit usually reverses at filing.
9 min read
TDS appears as tax credit in Form 26AS only after your deductor deposits it and files the TDS statement. Before filing your ITR, match Form 16 / 16A against 26AS and AIS, fix mismatches with the deductor, and claim only verified credit.
9 min read
GSTR-2B is the sole ITC claim base from FY 2021-22 onwards. This guide explains what GSTR-2B shows, how to reconcile it against your purchase records, what happens when suppliers fail to file, and how to handle mismatch rejections in GSTR-3B.
9 min read
Salaried employees earning additional freelance income, interest, rent or capital gains above Rs 10,000 in a financial year must pay advance tax. This guide covers who must pay, how to calculate it and the quarterly deadlines for FY 2026-27.
9 min read
The MSMED Act 2006 formula for interest on delayed payments, the 45-day payment rule, how to send a legal notice, and when to approach the Micro and Small Enterprises Facilitation Council.
11 min read
Most income tax notices are routine and reply-ready within 7 to 30 days. Identify the section number, classify the bucket — self-service, CA-led, or counsel-led — prepare the response within the stipulated window, and escalate only when the demand crosses ₹10 lakh.
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