If you are filing your Income Tax Return (ITR) for business or profession, one of the most critical sections you must fill correctly is “Financial Particulars of the Business” (E11 to E25). Most taxpayers either skip it, fill it incorrectly, or copy random figures — which is a BIG mistake and can trigger notices. Let’s […]
Financial Particulars of Business in ITR – Complete Guide (E11 to E25) Read More »
Understand all key income tax changes effective April 1, 2026 including salary structure, tax year concept, HRA rules, TCS changes, and exemptions. Complete guide by Tax Logic India. Introduction The Indian taxation system is undergoing significant changes effective from April 1, 2026. These updates aim to simplify tax filing, improve transparency, and restructure salary components.
TDS Due Dates for FY 2026–27 (AY 2027–28): Complete Guide for Payment & Return Filing Staying compliant with TDS (Tax Deducted at Source) deadlines is not optional—it’s critical. Missing due dates leads to interest, penalties, and unnecessary scrutiny. If you’re serious about clean compliance and avoiding notices, this guide gives you everything you need for
TDS Due Dates for FY 2026–27 (AY 2027–28): Complete Guide for Payment & Return Filing Read More »
Belated Return Filing: Deadlines, Fines & What Every Taxpayer Must Know Filing your Income Tax Return (ITR) within the due date is important to avoid penalties and complications. But if you missed the deadline, don’t panic. You can still file your return as a belated return. Here’s everything you need to know about deadlines, penalties,
What Happens if You File ITR Late? Deadlines, Fines & Smart Tips Read More »
Introduction In a significant development, the Andhra Pradesh High Court has ruled that a taxpayer can claim Input Tax Credit (ITC) even beyond the time limit specified under Section 16(4) of the CGST Act. This judgment aligns with the retrospective amendment introduced by the Finance Act, 2024, offering much-needed relief to businesses that missed the
Date: June 18, 2025 Author: Tax Logic India GST Refund Not Within 2‑Year Limit under Section 54(1)? High Court Says No Time‑Bar for Mistaken Deposits A recent ruling by the High Court has brought relief to taxpayers who mistakenly deposit tax due to system errors or clerical mistakes. The court held that the two-year time limit
✅ A Major Win for Business Owners A recent High Court decision has brought massive relief to taxpayers whose GST registrations were cancelled unfairly. The court ruled that cancellation without proper notice and hearing is invalid. This judgment is a powerful reminder that even if returns are delayed, authorities must follow proper legal procedures before
🚨 High Court Cancels GST Registration Cancellation – Relief for Taxpayers! Read More »
🏦 How Much Cash Can Be Deposited in Bank Account Under Income Tax Act? In India, cash transactions are closely monitored by the Income Tax Department to curb black money, money laundering, and tax evasion. Many individuals and businesses often ask — how much cash can be deposited in a bank account without attracting scrutiny
How Much Cash Can Be Deposited in Bank Account Under Income Tax Act ? Read More »
The due date for Income Tax Return (ITR) filing for FY 2024–25 (AY 2025–26) is July 31, 2025 for individuals not liable for audit. As this deadline approaches, it’s crucial to file your return accurately to avoid penalties, scrutiny, and refund delays. In this guide, Tax Logic India highlights the most common mistakes taxpayers make
ITR Filing 2025: Avoid These Common Mistakes While Filing Returns for FY 2024–25 Read More »
Supreme Court Allows GST Error Correction: A Relief for Buyers Claiming ITC Introduction The Supreme Court of India has issued a crucial ruling allowing buyers to rectify clerical errors in their GST filings without facing penalties. This decision ensures that genuine taxpayers can rightfully claim Input Tax Credit (ITC) without unnecessary legal hurdles. Key Highlights
Supreme Court Allows GST Error Correction: A Relief for Buyers Claiming ITC Read More »
