Your Foreign Bank Account Just Started Talking to the Income Tax Department. Are You Ready?
A Real Situation, More Common Than You Think A software professional worked in Germany for six years. In 2023, she returned to India, got married, and settled in Bengaluru. She still holds a savings account in Frankfurt with a modest balance, a small brokerage account with a few ETF units, and a pension contribution with […]
GSTN Introduces Mandatory Ship-To GSTIN and E-Way Bill Closure Facility from 15 June 2026 – Key Compliance Requirements for Businesses
The Goods and Services Tax Network (GSTN) has issued an advisory introducing important changes to the E-Way Bill (EWB) system aimed at improving transparency, strengthening compliance, and reducing data mismatches in the movement of goods. As per the GSTN advisory, these changes are proposed to be implemented from 15 June 2026. Businesses involved in the […]
Section 80-IAC of the Income-tax Act, 1961
[Corresponding Provision under Section 140 of the Income-tax Act, 2025 (effective from 1 April 2026)] Tax Holiday for Eligible Start-ups in India Introduction India has rapidly emerged as one of the largest start-up ecosystems globally. To strengthen this momentum, the Government, through the Department for Promotion of Industry and Internal Trade (DPIIT), introduced the Startup […]
MCA’s Compliance Amnesty for Companies
Learn about MCA’s Companies Compliance Facilitation Scheme 2026 (CCFS-2026) — a one-time window to clear pending ROC filings at 90% reduced late fees. Valid April 15 to July 15, 2026.
Compliance Calender for the Year 2025
Compliance Calendar for January 2025
Penalty for Non-Disclosure of Foreign Assets/Income in Income Tax Return
Penalty for Non-Disclosure of Foreign Assets in Income Tax Return (ITR) 2024 The disclosure of foreign assets in Income Tax Returns (ITR) is a critical requirement under the Indian tax laws. This measure ensures transparency, deters tax evasion, and aligns with global initiatives like the Automatic Exchange of Information (AEOI). Non-disclosure of such assets can […]