GST Refund for Inverted Duty Structure: RFD-01 Eligibility, ITC Formula and Filing Steps
Input tax credit (ITC) can accumulate when the GST rate on a business’s taxable output supplies is lower than the rate on…
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GST Composition Scheme Returns: CMP-08 Quarterly Payments, GSTR-4 Annual Return and Due Dates
CMP-08 and GSTR-4: What is the difference? GST composition taxpayers generally have two recurring filing tasks: CMP-08: A quarterly statement to report…
Read the guide →Form 10E for AY 2026-27: Claim Section 89 Relief on Salary Arrears and Advance Salary
What is Form 10E? If salary arrears or advance salary is taxed in one year, the additional income may push you into…
Read the guide →Form 41 for DTAA Relief in India: Eligibility, Documents and Filing Steps Under the New Income-tax Act
The Income-tax Act, 2025 introduced Form 41 for non-residents claiming relief under a Double Taxation Avoidance Agreement (DTAA) with India. The form…
Read the guide →Revised Form 161 Under the Income-tax Act, 2025: Who Can Apply for Penalty Waiver and How
Form 161 is an application to the Assessing Officer seeking waiver of a penalty levied under Section 439 and immunity from initiation…
Read the guide →Form 168 for Tax Year 2026-27: What It Shows and How to Review the New AIS
From Tax Year 2026-27, Form 168 is the Income-tax Department’s annual information statement under the Income-tax Act, 2025. It is the new…
Read the guide →Form 130 for Tax Year 2026-27: The New Form 16, Salary TDS Details and Employee Guide
The certificate for tax deducted from salary under the Income-tax Act, 2025 is Form 130 from 1 April 2026. It replaces Form…
Read the guide →Section 44ADA for AY 2026-27: Eligible Professionals, the ₹75 Lakh Limit and ITR Filing Rules
Under Section 44ADA, eligible professionals can calculate their professional income on a presumptive basis, generally at 50% of gross receipts. It simplifies…
Read the guide →Form 121 Replaces Forms 15G and 15H: Eligibility and Submission Guide for Tax Year 2026-27
Form 121 is the combined declaration replacing Forms 15G and 15H under the Income-tax Act, 2025. Eligible taxpayers can submit it to…
Read the guide →ITR-5 Filing for AY 2026-27: Documents, Schedules and Filing Steps for Partnership Firms and LLPs
The income tax returns of partnership firms and LLPs are generally filed in Form ITR-5. For AY 2026-27, the return covers income…
Read the guide →Missed the 30-Day ITR Verification Deadline? How to Request Condonation of Delay
Filing your income tax return is not complete merely because you have uploaded it. You must also verify it within the stipulated…
Read the guide →Defective Return Notice Under Section 139(9) for AY 2026-27: How to Respond and Correct Your ITR
A defective return notice under Section 139(9) means the Income Tax Department has identified incomplete or inconsistent information in your income tax…
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