Tax Law

The Supreme Court of India, in M/S Birla Corporation Limited v. The State of Madhya Pradesh (2026 INSC 738), has ruled that stamp duty payable on mining lease agreements executed in statutory Form K must be calculated on the basis of anticipated royalty, and not on the dead rent specified in the lease deed. The judgment, delivered by a Bench of Justice Sanjay Karol and Justice Augustine George Masih, resolves a long-standing dispute over the correct method of computing stamp

Tax Deducted at Source (TDS) on fixed deposit interest is one of the most common concerns for individual investors in India. If your interest income from fixed deposits exceeds a certain threshold, the bank or financial institution is required to deduct TDS before crediting the interest. However, if your total income falls below the taxable limit, you can submit a self-declaration form to avoid this deduction. For FY 2025-26, this is done through Form 15G or Form 15H. From FY

On July 10, 2026, the Central Board of Direct Taxes (CBDT) issued Notification No. 80/2026, exempting 14 categories of International Financial Services Centre (IFSC) units from tax deduction at source (TDS) on specified payments made to them. The notification, issued under Section 400(1) read with Section 147 of the Income Tax Act, 2025, has retrospective effect from April 1, 2026, and is a significant step in India's strategy to make GIFT City a globally competitive financia

Filing your income tax return is only the first step. If you later discover a mistake, an omission, or a wrong claim in your original return, Indian tax law gives you a second chance: the revised return under Section 139(5) of the Income Tax Act, 1961. Whether you entered the wrong bank account number, forgot to report interest income, or claimed the wrong deduction, a revised return lets you correct the record before the tax department raises a demand. This guide walks you t

Filing GST Returns in 2026: A Practical Step-by-Step Guide Every registered taxpayer under the Goods and Services Tax regime in India is required to file periodic returns on the GST portal (gst.gov.in). These returns report outward supplies (sales), claim input tax credit (ITC), and declare the net tax liability for each period. Missing a return or filing it late attracts penalties, interest, and can even result in suspension of the GSTIN. This guide explains the types of GST

A Complete Guide to GST Registration in India for 2026 Goods and Services Tax (GST) registration is the foundational step for any business operating in India that crosses the prescribed turnover threshold or falls into a category that mandates compulsory registration. Without a valid GSTIN (Goods and Services Tax Identification Number), a business cannot collect GST, claim input tax credit (ITC), or comply with the invoicing and return-filing requirements under the GST law. T

12A and 80G registration under the Income Tax Act 1961 are the two approvals that make an Indian NGO financially viable. Registration under Section 12A, now granted under the Section 12AB regime, exempts the NGO's own income from tax, while 80G approval lets donors claim a deduction for their donations, which dramatically improves fundraising. Both are applied for online through the income tax e-filing portal. This guide explains the current process: provisional registration

Wondering how to reply to an income tax notice in India? Most notices are routine and can be answered online within minutes through the e-Proceedings facility on the income tax portal. What matters is identifying which section the notice is issued under, because that determines what the department wants and how much time you have to respond. Ignoring a notice is the one option that always makes things worse, since it can lead to a best judgment assessment, penalties or an inv

The Goods and Services Tax Network (GSTN) is implementing Input Tax Credit (ITC) locking in GSTR-3B from around July 2026, marking a significant change in how businesses claim GST credits. Once this feature goes live, the ITC values auto-populated in Table 4A of GSTR-3B from GSTR-2B data will become non-editable for business-to-business (B2B) supplies. This means businesses can no longer manually override their ITC claims and must ensure that their purchase invoices are prope

A fresh set of Aadhaar, PAN and income tax compliance changes has taken effect in India from July 2026, and they matter to almost every taxpayer. The headline points are that linking your PAN with Aadhaar is now essential for filing an income tax return, the return filing season for the year is underway with a July deadline for most individuals, and the Aadhaar authority has made one update service free for six months. Knowing these changes early helps you avoid a blocked ret

If you disagree with a GST demand or order, knowing how to file a GST appeal in India helps you challenge it through the proper channel. A first appeal against an order of the adjudicating authority is filed before the Appellate Authority under Section 107 of the CGST Act, using Form GST APL-01 on the GST portal. This guide covers the time limit, the mandatory pre-deposit and the steps involved. When and Where to Appeal A taxpayer who is aggrieved by an order passed by an adj

Professional tax is a state-level tax levied on individuals earning income through employment, trade, or professional practice. Unlike income tax, which is administered by the central government, professional tax falls under the jurisdiction of individual state governments and local authorities. If you are an employer or a self-employed professional operating in India, understanding the enrolment process for professional tax is essential to staying compliant and avoiding pena

Tax Deducted at Source (TDS) is a mechanism through which the government collects income tax at the point of income generation. If the total TDS deducted during a financial year exceeds your actual tax liability, you are entitled to claim a refund of the excess amount. The refund is claimed by filing your Income Tax Return (ITR) through the official e-filing portal at incometax.gov.in. When You Are Eligible for a TDS Refund A TDS refund arises when: your employer deducts TDS

GST registration is the first compliance step for any business whose aggregate turnover exceeds the threshold limit prescribed under the Central Goods and Services Tax Act, 2017. The entire registration process is electronic and completed through the official GST portal at www.gst.gov.in. The process is free of charge and, when Aadhaar authentication is completed successfully, the GSTIN can be issued within three working days. Who Must Register for GST? GST registration is m

The 56th meeting of the GST Council, held on September 3, 2025, in New Delhi, approved the most significant restructuring of India's Goods and Services Tax since its inception in 2017. The Council endorsed a move to two primary taxable slabs: 5 per cent and 18 per cent, along with a special 40 per cent rate for luxury and sin goods. The reforms, now fully operational as of June 2026, have fundamentally altered compliance obligations, pricing structures, and business strategie