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Understanding GST Limitation Periods: Sections 73, 74, and 74A Explained
Master the critical GST limitation periods under Sections 73, 74, and 74A to ensure compliance and understand statutory timelines for show cause notices.
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ITAT Remands Section 80GGC Claim as Political Donation Verification Was Incomplete
The ITAT has remanded an 80GGC political donation claim for re-verification due to incomplete bank transaction details, impacting taxpayers.
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ITAT Ruling Clarifies Tax Audit Errors Do Not Justify Automatic Disallowances
The Income Tax Appellate Tribunal (ITAT) recently issued a landmark ruling, determining that a tax audit report containing erroneous figures cannot serve as the sole legal basis for invoking disallowances…
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Digital Transformation in Tax Audits: Excel-Based Solutions Streamline Compliance Reporting
The Shift Toward Standardized Audit DocumentationAs the fiscal year concludes, tax professionals and business owners across India are increasingly adopting standardized Excel-based working sheets to navigate the complexities of tax…
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Tax Audit Changes: Clause 47 Targets Unquoted Share Transactions
In a significant shift for corporate tax compliance, tax auditors are now required to report all purchases and sales of unquoted shares under Clause 47 of Form 3CD. This regulatory…