๐Tax Audit Late Filing for FY 2025-26!!
Late filing of Tax Audit Report this year does not attract the new mandatory late fee of Rs.75,000/Rs.1.50 lakh u/s 428(c)
For FY 2025-26, the old Act continues to apply:
44AB + Penalty u/s 271B + reasonable cause protection u/s 273B - No Late Fee
Resharing a June Post by @Sudhirhalakhndi sir
๐ Year-End Closing Made Easy!
Master these Top 25 Advance Adjustment Entries to strengthen your Accounting concepts From outstanding & prepaid expenses to provisions, accrued income, bad debts and closing stock .
these entries are highly useful for practical . ๐ฏ
#Accountancy #Accounting #Accounts #journalentries
๐จChecklist to buy health insurance
Health insurance is one of the most complex types of health insurance
What are the things to keep in mind while buying health insurance?
Here is a smart cheat sheet to follow to buy health insurance๐
GST Implications On โSale of Old Vehicleโ vis-ร -vis โSale of other used Capital Goods"
There is a buzz that sale of an old car attracts GST on the full transaction value, based on certain AAR rulings from Tamil Nadu. In my view, this position is not correct.
Notification No. 08/2018 โ CTR (amended twice in 2025) provides relief to sellers, even where the car forms part of business assets.
We have summarised the GST implications on:
Sale of old vehicles, and
Sale of other used capital goods (other than vehicles)
Hereโs a quick comparison: โฌ๏ธ
If you find this useful, feel free to share it with those who may benefit.
Letโs connect here and on Whats App for such updates! - link in bio.
New Tax Regime vs Old Tax Regime (FY 2025โ26) isnโt about preferenceโitโs about math.
โ Lower slabs & higher rebate under New Regime
โ Wider deductions & exemptions under Old Regime
โ Employer NPS, standard deduction & rebate are key variables
Choosing the right regime early can materially improve post-tax outcomes.
๐ฒ Daily tax & MF insights: https://t.co/vTlAXA6X9N
Disclaimer: Educational content only. Not tax advice. Consult a tax professional.
#TaxSavings #IncomeTaxIndia #NewTaxRegime #OldTaxRegime #FinancialPlanning
Day 11: Inflation ๐
1๏ธโฃ Inflation quietly reduces what your money can buy every year.
No headlines. No panic. Just erosion.
2๏ธโฃ A 5% salary hike with 6% inflation is a real pay cut.
3๏ธโฃ Fixed deposits feel safe, but often fail to beat inflation post-tax.
4๏ธโฃ Not all inflation is the same.
Demand-driven, cost-driven, and structural inflation impact assets differently.
5๏ธโฃ Equity and growth assets exist for one reason:
to beat inflation over long periods.
The biggest financial risk is not volatility.
It is failing to grow faster than inflation.
โก๏ธ https://t.co/vTlAXA6X9N
#Inflation #PersonalFinance #InvestorAwareness