Arun Kumar

[CA. Deep Koradia @DEEPKORADIA]

REFUND – NEW ANNEXURE B SCHEMA – TIPS AND TRICKS - PART 4

All easy tricks which helped us, hope this helps!

[Pratibha Gupta @PratibhaGoyal]

The new ITR forms require two additional details from the taxpayer seeking a deduction under section 80G.

Taxpayers are required to provide:

(a) Transaction reference number for UPI transfers or the cheque/IMPS/NEFT/RTGS reference number, and
(b) IFS code of the bank.

[Aditya Garg 🇮🇳 @Garg_Aditya_]

Old Tax Regime vs New Tax Regime.

Every CA gives a different answer.

Every article adds more confusion.

Here’s a 30-second decision tree that ends the debate.

No jargon. Just your income and your deductions. 🧵

[CA Akhil Pachori @akhilpachori]

Here is the Drive link containing complete access to 1,000+ draft templates. The collection includes documents related to Income Tax, Company matters, Composition deeds, Agreements, and various miscellaneous legal drafts.

Drive link 🔗- https://t.co/CqNQWZZRFV

[TheGSTLedger @himaniamrin]

Unbilled Revenue in GSTR-9C: Why Service Industry Reconciliations Go Wrong!

Many professionals struggle with Unbilled Revenue while reconciling turnover in GSTR-9C.

What causes the confusion?
- Revenue is recognised in books as per AS-9 / Ind AS-115
- GST liability arises based on Time of Supply (Section 13)

Under GST: Invoice for services can be issued within 30 days from date of service

If no advance is received, GST may be paid in the next FY, even though revenue is booked in the current FY

Result?
Books turnover ≠ GST turnover due to timing difference.

GSTR-9C adjustment logic:
➕ Unbilled revenue at beginning of FY → Table 5B
➖ Unbilled revenue at end of FY → Table 5H

Reference point: Previous and current year audited financials

TheGSTLedger
#GSTR9C #GSTAudit #UnbilledRevenue #ServiceIndustry #GSTReconciliation #IndirectTax #TaxProfessionals #TheGSTLedger

[Abhishek Raja "Ram" @abhishekrajaram]

GST Flyers

[CA Ruchita Vaghani @R_N_Vaghani]

🧠AI Tools For CA (Part-1)

For Accounting & Bookkeeping

1. Automated bookkeeping & reconciliation: -
➡️Zoho Books AI
➡️TallyPrime with AI add-ons
➡️QuickBooks AI
➡️Xero

2. Invoice data extraction: -
➡️Docsumo
➡️Veryfi
➡️Klipboard
➡️Kofax

3. Bank statement analysis: -
➡️Perfios
➡️Finbox
➡️Finly AI

[Sweta Jain Patil @Anuana10]

*Income Tax Time Limits*
at a glance one chart that every taxpayer and CA must save

[Pratibha Gupta @PratibhaGoyal]

FAQs based on Auditor’s Opinion on financial statements

[CA Bimal Jain @BimalGST]

🔥📛 HC: Form GST ASMT-10 notice mandatory before issuing SCN u/s 73 for returns scrutiny

➡️ The Court held that initiation of proceedings under Section 73 must be preceded by scrutiny of returns under Section 61. This requires issuance of Form GST ASMT-10 to confront discrepancies. Since this was not done, the SCN was deemed without jurisdiction.

➡️ Revenue’s failure to issue Form ASMT-10 before proceeding under Section 73 was considered a clear violation of statutory procedure. The HC relied on Rajasthan HC in Goverdhandham Estate (affirmed by SC) to declare such action unauthorized and void.

➡️ The SCN was based on mismatch between the annual return and reconciliation statement due to non-furnishing of Table 14 of GSTR-9C. Since filing Table 14 was optional for FY 2017-18, absence of such data could not legally constitute a discrepancy.

➡️ The Court emphasized that GST is a self-assessment regime. Verification of correctness of returns can only be done through Section 61 scrutiny, and any conclusion of wrongful ITC availment must flow from this process. Without following it, Section 73 jurisdiction cannot be assumed.

➡️ As the Revenue invoked Section 73 without complying with mandatory Section 61 procedures, the HC ruled the entire proceedings—including the SCN for ITC mismatch of ₹19.5 crores—unauthorized and contrary to law.

✔️ Gujarat HC - PepsiCo India Holdings Pvt. Ltd. vs. UOI & 3 Ors. [WP(C)/6960/2023]

#GST #GSTUpdate #GSTCaseUpdate #AdvBimalJain #GSTwithBimalJain #a2ztaxcorpllp #GSTUpdate #GSTcaseLaw

[Aaditt Business Consulting @Aaditt_official]

📌 GST Rate Change – Effective 22nd Sept 2025

Goods/services supplied before 22-09-2025 Or

Goods/services supplied on or after 22-09-2025

Confused whether old or new GST rate applies? Here’s the rule👇

#GST #GSTCouncil #GSTUpdates #TaxTips #GSTCouncilMeeting #gst2_0 #aaditt

[Ministry of Corporate Affairs @MCA21India]

📢 Important Update on DIR-3 KYC / DIR-3 KYC Web

1️⃣ Any DIN holder filing their KYC details with the Ministry of Corporate Affairs (MCA) for the first time shall mandatorily file the same only through Form DIR-3 KYC. The web-based DIR-3 KYC service shall not be applicable for such first-time filings.

2️⃣ Any DIN holder intending to update any details of their KYC information is required to file the necessary changes exclusively through Form DIR-3 KYC. Updates to KYC details cannot be made through the web-based DIR-3 KYC service.

👉 Stakeholders are requested to take note of the above and ensure timely compliance.

#MCA #MCAUpdate #V3Portal #FormDIR3KYC #FormDIR3KYCWeb

[CA Harshil sheth @CA_HarshilSHETH]

All about TAX AUDIT APPLICABILITY & PRESUMPTIVE SCHEME  FOR AY 25-26 FOR business, professionals and transporters

A lot has been changed after AY 2017-18  for Tax audit and Presumptive scheme for Business /Professionals

Since Tax Audit season is on . Here is detailed  analysis in just 4  slides
​______________________________________________________

Like this, Get equipped with ALL Drastic Changes in Capital Gain , slab rates and TDS TCS changes by Subscribing to my Book ITRR 4th edition.

It covers All Just in 120 pages covering key 35 Income Tax topics updated for AY 2025-26 & 2026-27.

Subscribe for the digital version by making payment of Rs. 199 at this link – https://t.co/V3RmBRfb59

Very helpful resource for ITR And Audit season

PS-  Printed book is out of stock

[CA Himank Singla @CAHimankSingla]

📌 Crypto F&O Losses – How to reportin in ITR ?

A query that is increasingly coming up among professionals:

How to disclose gains or losses from trading in Crypto Futures & Options (F&O) and whether they can be carried forward under the Income-tax Act, 1961?

Let's analyze it legally.

Step 1: Speculative Transaction – Section 43(5) of Income Tax Act, 1961
✅ A transaction settled otherwise than by actual delivery is a speculative transaction.
✅ Exception: F&O on a recognized stock exchange (with STT, client code etc.) is not speculative.

Step 2: Are Crypto Exchanges recognized?
✅ “Recognized stock exchange” is as per SCRA, 1956.
✅ Crypto exchanges are not recognized under SCRA.
✅ Hence, Crypto F&O = Speculative Business.

Step 3: Treatment of Losses (Sec. 73)
✅ Speculative Loss can be set off only against speculative profits.
✅ Can be carried forward for 4 A.Ys.
✅ To be reported under Schedule P&L → Speculative Business in ITR.

Common Errors: Many wrongly show Crypto F&O under “ordinary business” or under 115BBH (VDAs). 115BBH applies to spot trades in VDAs. Crypto F&O is derivative speculation.

⚠️ Disclaimer: This post is for educational purposes only and does not constitute professional advice. Readers are advised to evaluate the facts of each case and refer to the relevant provisions of the Income-tax Act before taking any position.

[CA Pooja Gupta @cagurujii]

Tax Audit Changes (FY 2024-25):
Changes in 9 Clauses of Tax Audit Report (Form 3CD) 👇:
🔹 Clause 12 – Amended
🔹 Clause 19 – Amended
🔹 Clause 21(a) – Amended
🔹 Clause 22 – Amended
🔹 Clause 26 – Amended
🔹 Clause 28 – Omitted
🔹 Clause 29 – Omitted
🔹 Clause 31 – Amended
🔹 Clause 36B – New
Also Note: New Business codes are added in Clause 10

Click 👇 to know changes in detail: https://t.co/GErfhV9roI
#TaxAudit #Form3CD #IncomeTax #caguruji #audit

[Arun Kumar @imArunkumar_]

@akhilchennu @IncomeTaxIndia @nsitharamanoffc @officeofPCM @FinMinIndia @PIB_India Yes

[CA Sai Pratap Kopparapu @CASaiPratap]

📢 ICAI has issued an updated Checklist for Preparation of ITR-1 & ITR-4 for AY 2025-26.

A handy reference for CAs & taxpayers to ensure accurate and complete filing.

🔗 https://t.co/bxrXjMKE6A

#ICAI #IncomeTax #ITR #TaxFiling #AY2025_26

[CA Rattan Kaur @CARattanKaur]

“🚨 Mutual Fund Investors! 🚨
From 23 July 2024, tax rules have changed — STCG, LTCG, rates & holding periods are all new.
While filing your ITR, take care — one wrong move can cost you big. 📉
Know the rules ➡ Invest & file wisely. 💡
#FinanceAct2024 #MutualFunds #TaxAlert”

[CA Akhil Pachori @akhilpachori]

Add-On to Generate Financial Statements for Non-Corporates as per ICAI Guidance launched by TallyPrime

https://t.co/nKlgL5Y6BI

Process: https://t.co/YDza4Sqswa

[CA Himank Singla @CAHimankSingla]

Post 23rd July 2024, a considerable number of taxpayers and professionals have raised concerns about the confusion surrounding the correct treatment of Long-Term Capital Gains (LTCG) on sale of property.

What is taxable? Is indexation still allowed?

Does the new utility reflect correct computation?

Let’s decode, because what’s being calculated, what’s being reported, and what’s actually taxable are currently not aligning. 🧵