dtJul 2026
Freelancer Income Tax Guide FY 2026-27 | NumberIQ
Complete guide to calculating income tax for freelancers, consultants, and professionals in India for FY 2026-27, covering tax regimes, deductions, GST, and ITR...
Finance & Tax Insights
Chartered Accountant-reviewed guides covering compliance, updates, and strategic tax planning under Indian laws.
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dtJun 2026
Advance tax due dates FY 2026-27
Advance tax due dates for FY 2026-27 - 15% by 15 June, 45% by 15 September, 75% by 15 December and 100% by 15 March, with 234B/234C interest for shortfalls.
tdsJun 2026
Advance tax vs TDS: what is the difference?
Advance tax is paid by the taxpayer in instalments on estimated income; TDS is deducted at source by the payer. How the two prepaid taxes differ and how they...
cmpJun 2026
AI tools for CAs in India: tax research done right
How Chartered Accountants in India can use AI tools for tax research safely - good use cases, the hallucination risk, a verification workflow, and prompts that work.
gstJun 2026
Anti-profiteering under GST (Section 171)
Section 171 requires businesses to pass on the benefit of rate cuts and ITC to consumers. How anti-profiteering worked, the authorities involved, and the sunset...
itxJun 2026
Arm's length price methods under Section 92C
The five prescribed transfer-pricing methods under Section 92C - CUP, RPM, CPM, PSM and TNMM - plus the 'other method'. When each applies and how the most...
itxJun 2026
BEPS Pillar Two and its impact on India
BEPS Pillar Two sets a 15% global minimum tax for large multinational groups through the GloBE rules - IIR, UTPR and QDMTT.
dtJun 2026
Capital gains on property FY 2026-27
Capital gains on property after Budget 2024 - LTCG at 12.5% without indexation, or 20% with indexation for older property held by resident individuals/HUF.
tdsJun 2026
Challan 281: paying TDS/TCS online
How to pay TDS/TCS using Challan 281 (ITNS 281) on the income-tax e-pay tax portal - the codes 200 vs 400, section selection, due dates, and getting the challan...
cmpJun 2026
Chart of accounts: best practice for India
How to design a chart of accounts for Indian businesses - aligning with Schedule III, structuring groups and ledgers in Tally, using cost centres, and keeping...
dtJun 2026
Depreciation and the block of assets concept
Depreciation under Section 32 uses the block-of-assets concept and the WDV method. The rates, the 180-day half-depreciation rule, additional depreciation, and...
itxJun 2026
DTAA India-Singapore: a practical guide
The India-Singapore DTAA - treaty rates on dividends, interest, royalty and FTS, the post-2017 source taxation of share capital gains, and the...
itxJun 2026
DTAA India-UAE: a practical guide
The India-UAE DTAA - tax residency, treaty rates on dividends, interest and royalty, the absence of a separate FTS article, capital gains, and the role of the...
gstJun 2026
E-invoice applicability under GST
GST e-invoicing applies to businesses above the notified turnover threshold (Rs.5 crore). How IRN and QR codes work, who is exempt, and the 30-day reporting...
itxJun 2026
Equalisation levy in India: where it stands
Equalisation levy taxed certain digital transactions - 6% on online advertising and a 2% e-commerce levy. The 2% levy was withdrawn from August 2024; track the...
dtJun 2026
Faceless assessment under Section 144B
Faceless assessment under Section 144B removes the personal interface with the Assessing Officer. The NaFAC structure, the show-cause and draft-order steps, and...
itxJun 2026
FEMA compliance for a foreign subsidiary (ODI)
Setting up or investing in a foreign subsidiary under FEMA - the Overseas Investment Rules 2022, Form FC, the Unique Identification Number, the Annual...
cmpJun 2026
Financial ratios for CA client monitoring
The financial ratios every CA should track for client monitoring - liquidity, leverage, profitability and efficiency ratios, what each signals, and healthy...
tdsJun 2026
Form 15G and 15H for TDS exemption
Form 15G (non-senior) and Form 15H (senior citizen) are self-declarations for nil TDS on interest and specified income where total income is below the taxable...
tdsJun 2026
Form 26AS vs AIS vs TIS
Form 26AS is the tax-credit statement; AIS is the comprehensive Annual Information Statement; TIS is the Taxpayer Information Summary.
dtJun 2026
Form 3CA vs 3CB vs 3CD explained
In a tax audit, Form 3CA or 3CB is the audit report and Form 3CD is the statement of particulars. When 3CA applies vs 3CB, and what the 3CD clauses cover.
itxJun 2026
Form 3CEB for transfer pricing
Form 3CEB is the accountant's report on international and specified domestic transactions with associated enterprises, due by 31 October under Section 92E.
gstJun 2026
GST audit under Section 65
GST audit under Section 65 lets the Commissioner audit a registered person - the ADT-01 notice, the 3-month timeline, ADT-02 findings, and how it differs from a...
gstJun 2026
Section 74 GST demands: fraud and suppression
Section 74 of the CGST Act covers GST demands involving fraud, wilful misstatement or suppression - 100% penalty, a 5-year time limit, and the reduced 15%/25%...
gstJun 2026
GST on director's remuneration under RCM
Is GST payable on a director's remuneration? Salary to a whole-time director is outside GST; sitting fees and commission to a non-executive director attract RCM.
gstJun 2026
GST due dates calendar FY 2026-27
GST due dates for FY 2026-27 - GSTR-1 (11th), GSTR-3B (20th), QRMP (13th/22nd/24th), GSTR-5/6/7/8, and the GSTR-9/9C annual return by 31 December.
gstJun 2026
GST on employee secondment from a foreign group
After the Supreme Court's Northern Operating Systems ruling, secondment of employees from a foreign group company can be a taxable manpower supply under GST RCM.
gstJun 2026
Export of services under GST: zero-rated supply
Export of services is a zero-rated supply under GST. The five conditions in Section 2(6) of the IGST Act, the LUT vs pay-IGST routes, and how to claim a refund...
gstJun 2026
GST for freelancers and consultants
When do freelancers and consultants need GST registration? The Rs.20 lakh threshold, 18% on professional services, export of services under LUT, and...
gstJun 2026
Import of services and RCM under GST
Import of services is taxable under reverse charge - the Indian recipient pays IGST. The rules under Section 5(3) IGST Act, OIDAR services, and how to claim ITC...
gstJun 2026
GST interest under Section 50, calculated
GST interest under Section 50 is 18% on delayed tax and 24% on wrongly availed ITC. The net-cash relief in the proviso, Circular 192/2023 on ITC interest, and...
gstJun 2026
GST late fee under Section 47, explained
GST late fee under Section 47 is Rs.50/day (Rs.20 for nil) for GSTR-1/3B, with turnover-based caps under Notification 07/2023-CT. Rates, caps and worked examples.
cmpJun 2026
GST notice types: DRC-01, DRC-01A, DRC-01B and DRC-01C
A guide to GST notices - DRC-01A (pre-notice), DRC-01 (show-cause), DRC-01B (GSTR-1 vs 3B mismatch), DRC-01C (ITC mismatch) and how to respond to each.
gstJun 2026
GST on rent: commercial vs residential
GST on renting - residential dwelling for residence is exempt but attracts RCM when let to a registered person; commercial rent is 18%.
gstJun 2026
GST refund on exports: the process
How to claim a GST refund on exports - the RFD-01 process for ITC refunds under LUT, the automatic IGST refund route via shipping bill, timelines and...
cmpJun 2026
GST registration process 2026
How to register for GST in 2026 - the turnover thresholds, mandatory registration cases, the Form REG-01 process with Aadhaar/biometric authentication,...
gstJun 2026
Replying to a GST show-cause notice under Section 73
A practical guide to replying to a GST show-cause notice under Section 73 (non-fraud cases) in Form DRC-01 - timelines, structure of the reply, and how to use...
gstJun 2026
GST TCS on e-commerce under Section 52
E-commerce operators collect TCS under Section 52 of the CGST Act on the net value of taxable supplies, file GSTR-8 monthly, and the supplier claims the credit.
cmpJun 2026
GSTR-2B ITC reconciliation: a how-to in Excel
A step-by-step how-to for reconciling your purchase register with GSTR-2B in Excel/Power Query - matching keys, mismatch buckets, and a monthly workflow to...
gstJun 2026
GSTR-2B reconciliation: a practical guide
GSTR-2B is the static auto-drafted ITC statement. How to reconcile your purchase register with GSTR-2B, handle mismatches, and claim ITC correctly under Section...
gstJun 2026
GSTR-3B interest and Circular 192/2023
Circular 192/2023-GST clarifies that interest under Section 50(3) on wrongly availed ITC depends on whether the credit was utilised, tested against the...
gstJun 2026
GSTR-9 annual return: a filing guide
A practical guide to filing GSTR-9, the GST annual return - who must file, the table-by-table structure, reconciliation with GSTR-1/3B and books, and the 31...
gstJun 2026
GSTR-9 vs GSTR-9C: which applies to you
GSTR-9 is the GST annual return; GSTR-9C is the reconciliation statement. Turnover thresholds (Rs.2 crore and Rs.5 crore), who must file each, and the due date.
gstJun 2026
GSTR-1 vs GSTR-3B: what is the difference?
GSTR-1 is the invoice-level statement of outward supplies; GSTR-3B is the summary return through which GST is paid. Key differences, due dates and how they interact.
gstJun 2026
GTA under GST: RCM vs forward charge
Goods Transport Agency under GST - the recipient pays 5% under reverse charge, or the GTA opts for forward charge at 5% (no ITC) or 12% (with ITC).
cmpJun 2026
How to read an income-tax notice
A plain-language guide to income-tax notices - 143(1) intimation, 139(9) defective return, 142(1), 143(2) scrutiny, 148 reassessment and 245 adjustment - and...
cmpJun 2026
How to verify a GSTIN online
How to verify a GSTIN on the GST portal - the 15-digit structure, the Search Taxpayer tool, checking registration status and return-filing history, and why it...
gstJun 2026
How many HSN digits are mandatory on GST invoices?
How many HSN digits must appear on a GST invoice and in GSTR-1? 4 digits up to Rs.5 crore turnover and 6 digits above, per Notification 78/2020-CT.
dtJun 2026
ICDS: Income Computation and Disclosure Standards
ICDS are ten standards notified under Section 145(2) for computing business and other-source income on the mercantile basis.
gstJun 2026
IMS invoice matching under GST
The GST Invoice Management System (IMS) lets recipients accept, reject or keep invoices pending before they flow into GSTR-2B.
dtJun 2026
Foreign income, DTAA and FEMA for residents
How residents are taxed on foreign income - residential status, global income for ROR, DTAA relief under Sections 90/91, Form 67 foreign tax credit, and...
dtJun 2026
LLP income tax: computation and filing
How an LLP is taxed - flat 30% plus surcharge and cess, AMT under Section 115JC, deductibility of partner remuneration and interest under Section 40(b), and the...
dtJun 2026
Replying to a Section 143(2) scrutiny notice
A Section 143(2) notice means your return is selected for scrutiny. The time limit, what it covers (limited or complete), and how to respond through faceless...
gstJun 2026
ITC on capital goods under GST
Input tax credit on capital goods under GST - full credit for business use, the depreciation bar under Section 16(3), Rule 43 apportionment, and reversal on...
gstJun 2026
ITC on motor vehicles: when is it allowed?
ITC on motor vehicles is blocked under Section 17(5)(a) for passenger vehicles up to 13 seats, except for specified uses - further supply, passenger transport...
dtJun 2026
ITR filing due dates FY 2026-27 (AY 2027-28)
ITR due dates for FY 2026-27 (AY 2027-28) - 31 July for non-audit cases, 31 October for audit cases, 30 November for transfer-pricing cases, plus belated and...
tdsJun 2026
Lower TDS certificate under Section 197
Section 197 lets a payee apply in Form 13 for a certificate to have TDS deducted at a lower or nil rate. Who should use it, the process, and how the deductor...
dtJun 2026
LTCG on shares under Section 112A
Long-term capital gains on listed shares and equity mutual funds are taxed under Section 112A at 12.5% above the Rs.1.25 lakh exemption, where STT is paid.
cmpJun 2026
Monthly MIS report format for the CFO
A practical monthly MIS format for finance teams and CFOs - the core statements, KPIs, variance analysis, and how to build it efficiently with Excel/Power Query...
gstJun 2026
Composite supply vs mixed supply under GST
Composite supply is naturally bundled and taxed at the principal supply's rate; mixed supply is taxed at the highest rate of any item.
dtJun 2026
The new Income-tax Act 2025: what changes
The Income-tax Act 2025 replaces the 1961 Act from FY 2026-27. What changes for taxpayers - simplified structure, the 'tax year' concept, renumbered TDS...
tdsJun 2026
New TDS sections under the Income-tax Act 2025
From FY 2026-27, TDS provisions are renumbered under the Income-tax Act 2025 - salary to Section 392, non-salary payments to 393, and TCS to 394.
dtJun 2026
Old vs new tax regime FY 2026-27: which is better?
Old vs new tax regime for FY 2026-27 - the new regime's lower slabs and Rs.12 lakh rebate vs the old regime's deductions.
itxJun 2026
Permanent establishment under DTAA in India
A permanent establishment is a fixed place through which a foreign enterprise carries on business, creating a taxable presence in India.
gstJun 2026
Place of Supply Under GST: CGST/SGST vs IGST | NumberIQ
Place of supply decides whether a transaction is intra-State (CGST+SGST) or inter-State (IGST). The rules for goods (Section 10) and services (Sections 12 and...
gstJun 2026
QRMP scheme under GST
The QRMP scheme lets taxpayers up to Rs.5 crore turnover file GSTR-1 and GSTR-3B quarterly while paying tax monthly via PMT-06.
gstJun 2026
Reverse charge (RCM) under Notification 13/2017
Reverse charge under GST: the services notified under Notification 13/2017-CT(R) - GTA, advocate, director, sponsorship and more - where the recipient pays the tax.
gstJun 2026
Retrospective GST cancellation and the buyer's ITC
When a supplier's GST registration is cancelled retrospectively, can the buyer's input tax credit be denied? Section 16(2)(c), the bona fide buyer principle and...
gstJun 2026
Rule 42 ITC reversal: formula and worked example
Rule 42 reverses common ITC attributable to exempt supplies and non-business use. The D1 and D2 formula, a worked example, and the annual recomputation under...
dtJun 2026
Section 142(1) notice: inquiry before assessment
A Section 142(1) notice can ask you to file a return, produce accounts or furnish information before assessment. What it covers, the consequences of...
gstJun 2026
Blocked credits under Section 17(5)
Section 17(5) of the CGST Act blocks ITC on motor vehicles, food and beverages, club membership, construction of immovable property, CSR and more.
dtJun 2026
Section 270A: penalty for under-reporting of income
Penalty under Section 270A is 50% of tax for under-reporting and 200% for misreporting of income. The difference between the two, how the penalty is computed,...
dtJun 2026
Section 40A(3): disallowance of cash expenditure
Section 40A(3) disallows business expenditure paid in cash above Rs.10,000 (Rs.35,000 for transporters) in a day to a person.
dtJun 2026
Presumptive taxation: Sections 44AD and 44ADA
Presumptive taxation under Sections 44AD (business, 8%/6%) and 44ADA (profession, 50%) - the turnover limits (Rs.3 crore / Rs.75 lakh), the 5-year lock-in, and...
dtJun 2026
Section 56(2)(x): when gifts are taxable
Under Section 56(2)(x), money or property received without or for inadequate consideration above Rs.50,000 is taxable as income from other sources, with...
gstJun 2026
Section 73 vs Section 74 under GST
Section 73 covers GST demands without fraud; Section 74 covers fraud and suppression with higher penalty and longer time limits.
dtJun 2026
Set-off and carry-forward of losses
The rules for setting off losses against income and carrying forward unabsorbed losses - intra-head and inter-head set-off, the carry-forward periods, and the...
dtJun 2026
Tax audit applicability FY 2026-27 (Section 44AB)
Tax audit under Section 44AB - the Rs.1 crore business limit (Rs.10 crore if cash <=5%), the Rs.50 lakh professional limit, presumptive cases, and the audit...
cmpJun 2026
Tax compliance calendar FY 2026-27 (all laws)
A combined GST, income-tax, TDS and MCA compliance calendar for FY 2026-27 - the key monthly and annual deadlines in one view, with an interactive calendar and...
tdsJun 2026
TCS on LRS and foreign remittances under 206C(1G)
TCS on foreign remittances under LRS and overseas tour packages - Section 206C(1G) rates (5%/20%), the threshold, the education/medical concession, and how to...
tdsJun 2026
TCS on sale of goods under Section 206C(1H)
Section 206C(1H) requires a seller with turnover above Rs.10 crore to collect 0.1% TCS on sale consideration above Rs.50 lakh per buyer, and how it interacts...
tdsJun 2026
TDS on interest under Section 194A
Section 194A deducts 10% TDS on interest other than securities - bank deposits, loans and company deposits - above the threshold, with higher limits for senior...
tdsJun 2026
TDS under Section 194C on contractor payments
Section 194C deducts TDS on payments to contractors - 1% for individuals/HUF and 2% for others, with thresholds of Rs.30,000 per contract and Rs.1,00,000 in...
tdsJun 2026
TDS under Section 194H on commission and brokerage
Section 194H deducts TDS on commission or brokerage at 2% (reduced from 5% from October 2024) above the annual threshold.
tdsJun 2026
TDS under Section 194J on professional fees
Section 194J deducts TDS on professional and technical fees - 10% for professional services and royalty, 2% for technical services and call centres, above the...
tdsJun 2026
TDS under Section 194O on e-commerce operators
Section 194O requires an e-commerce operator to deduct 0.1% TDS on the gross sales of an e-commerce participant, with a Rs.5 lakh exemption for individual/HUF...
tdsJun 2026
TDS on dividend under Section 194
Since dividends became taxable in shareholders' hands, companies deduct TDS at 10% under Section 194 on dividends above the threshold.
tdsJun 2026
TDS on Foreign Payments: Section 195 & DTAA | NumberIQ
A practical look at deducting TDS on foreign payments under Section 195 - choosing the Act vs DTAA rate, the TRC/Form 10F/15CB/15CA drill, and grossing up...
tdsJun 2026
TDS mismatch in Form 26AS: how to correct it
TDS deducted but not showing in Form 26AS? The common causes - wrong PAN, deductor's unfiled or erroneous return - and the step-by-step fix to claim your full...
tdsJun 2026
TDS non-deduction: penalty, interest and disallowance
The consequences of failing to deduct or deposit TDS - interest under Section 201(1A), 30% expense disallowance under 40(a)(ia), penalty under 271C, and...
itxJun 2026
TDS on payments to non-residents under Section 195
Section 195 requires TDS on any sum paid to a non-resident that is taxable in India, at rates under the Act or the DTAA, whichever is beneficial.
tdsJun 2026
TDS on the GST component of an invoice
Is TDS deducted on the GST portion of an invoice? Per CBDT Circular 23/2017, TDS is deducted on the amount excluding GST where GST is shown separately on the...
tdsJun 2026
TDS on rent: Section 194I vs 194IB
TDS on rent - Section 194I (10% land/building, 2% plant) applies to businesses above the threshold, while Section 194IB makes individuals/HUF deduct 2% on rent...
tdsJun 2026
TDS on salary under the new tax regime
How TDS on salary works under Section 192 with the new tax regime as default - the average-rate method, employee declaration, standard deduction, and switching...
tdsJun 2026
TDS on property purchase under Section 194IA
Buying immovable property of Rs.50 lakh or more? Section 194IA requires the buyer to deduct 1% TDS and pay it via Form 26QB.
tdsJun 2026
TDS rate chart FY 2026-27: a quick guide
A practical guide to the TDS rate chart for FY 2026-27 - common sections (194C, 194J, 194I, 194H, 194A), rates, thresholds, and the new Income-tax Act 2025...
tdsJun 2026
TDS return correction online (TRACES)
How to correct a filed TDS return online through TRACES - add or modify challans, correct PAN and deductee details, and resolve short-deduction or short-payment...
tdsJun 2026
TDS return filing: 24Q, 26Q, 27Q
The TDS returns - Form 24Q for salary, 26Q for resident non-salary, 27Q for non-residents and 27EQ for TCS - their quarterly due dates and the late-fee under...
tdsJun 2026
TDS on winnings: Section 194B and online gaming 194BA
TDS on winnings from lotteries and games (Section 194B) and online gaming (Section 194BA) is deducted at 30%. How net winnings are computed for online gaming...
itxJun 2026
Transfer pricing in India: a practical guide
Transfer pricing in India under Sections 92-92F - associated enterprises, international transactions, the arm's length principle, documentation, Form 3CEB and...
gstJun 2026
Works contract under GST: rate and ITC
Works contract is a service under GST, generally taxed at 18%. When is ITC available and when is it blocked under Section 17(5)(c)/(d)? The rules with practical...
cmpJul 2026
Startup Tax Compliance Checklist: Year One
First-year tax compliance checklist for Indian startups: incorporation registrations, monthly GST and TDS, quarterly returns, and annual exemptions.
gstJul 2026
GST Registration vs Income Tax Registration: Which First?
A comprehensive guide for Indian founders, freelancers, and businesses to decide the order of getting PAN/TAN vs GSTIN, highlighting key considerations and...