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New IT Law: Simpler Filing, Digital Tools & Faster Refunds

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In India, the new Income-tax Act is scheduled to come into effect on April 1, 2026. The legislation is designed to simplify tax compliance for taxpayers, reduce tax-related litigation, and promote a more transparent, technology-driven tax ecosystem. These reforms align with the government’s ongoing efforts to enhance the efficiency and effectiveness of the overall tax administration system. During a recent address in Pune, Vivek Wadekar highlighted concerns surrounding the Income-tax Act, 1961. He stated that the Act has undergone more than 4,000 amendments over the years, making the legal framework highly complex. According to him, this complexity frequently results in tax disputes due to varying interpretations of different provisions of the law. The Income-tax Act, 2025 , introduced several revisions aimed at simplifying the language used in tax laws and regulations. These changes are intended to improve clarity for both taxpayers and tax authorities, helping ensure a better underst...
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Important Ways to Choose the Best Payroll Software in India

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Payroll is one of the important functions in any business that requires being processed with few errors. Every month, the payroll processing of small and medium enterprises requires a lot of time for the company’s HR and finance teams. Still, most companies prefer to process payroll manually, which consumes a lot more time and is subject to errors as well.  The application of an ineffective and untimely payroll not only increases the cost of the process, but also the person working on it gets frustrated, and the morale of the employees goes down as well. On the other hand, with the use of timely, fast and efficient payroll, companies become successful and stand themselves apart from the average ones. Currently, the Indian market observes the availability of numerous payroll software. As claimed by their developers, all the software is designed to supply smooth payroll processing for organisations. Now, the thing that needs to be done carefully is the selection of the right software...
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Telangana HC Allows Provisional Release of 127 Seized Copying & Scanning Machines on Enhanced Duty

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The Telangana High Court has instructed the Customs authorities to provisionally release 127 units of imported multi-functional copying and scanning machines that were seized by the department. This is contingent upon the importer depositing the increased duty amount and providing a bank guarantee of 10% of the total value of the goods. M/s Akshya Copier Solutions, an importer, has submitted the writ petition contesting the seizure memo and asking for immediate clearance of the consignment imported. The applicant, before the High Court alleging that the Customs department had seized various models of second-hand highly specialised equipment, like copying and scanning machines. The department denied clearance despite the applicant being ready to pay the applicable duties on the declared value. The importer said that the seizure and continued detention of the goods were arbitrary and unreasonable, allegedly contrary to the provisions of the Customs Act, 1962, the Import ...
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Why Tax Authorities Seek GSTR-9 & 9C Deadline Extension

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As the December 31 deadline approaches for submitting the annual return forms GSTR-9 and GSTR-9C for the financial year 2024 25, several leading tax professional bodies such as the Bombay Chartered Accountants' Society, the Madhya Pradesh Tax Law Bar Association, and the Commercial Tax Practitioners Association in Indore have made official representations expressing concerns about the unusual challenges posed by recent changes to the forms and certain technical difficulties. They have requested an extension of the due date for filing GSTR-9 and GSTR-9C . As requested, the Bombay Chartered Accountants’ Society (BCAS) and the Malad Chamber of Tax Consultants have made an official request for an extension of the due date for filing the annual return forms GSTR-9 and GSTR-9C for the financial year 2024-25. They have sought an extension of at least three months beyond the current due date. Why Tax Authorities Seek An Extension? Tax bodies are demanding an extension because "For FY ...
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GSTR-9 ITC Reporting Taken, Reversed & Reclaimed for FY 2024-25

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This article serves as a clear and helpful guide to reporting Input Tax Credit (ITC) under GST. It explains the process of claiming, reversing, and reclaiming ITC across different financial years. Through three carefully designed case studies, the article clearly outlines the GSTR-3B tables that must be used to report each ITC movement. It covers various cases, including those within the same financial year, reclaims of ITC from previous years, and cases where ITC is reversed in FY 2024-25 and reclaimed in FY 2025-26. Additionally, the article discusses Rule 37 and Rule 37A, explaining how these provisions impact ITC eligibility and the related process. It also explains the important rules for determining whether ITC should be treated as a current or previous year credit. Accurate reporting across GSTR-9 Tables 6B, 6H, 6A1, 7A, 7H, and 13 ensures smoother GST compliance and reduces the risk of reporting errors. Understanding the Process of ITC (Input Tax Credit) Claims and Reversa...
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CBDT Empowers U/S 154 to Speed Up Rectification of Tax Mistakes & Refunds

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The Central Board of Direct Taxes (CBDT) has announced a new framework aimed at facilitating the rectification of errors in tax returns and the issuance of refunds under the Income Tax Act, 1961. This decision aims to simplify the process for individual taxpayers to correct mistakes related to tax computation, prepaid tax credits, or refund processing.  Under this new framework, the Commissioner of Income Tax at the Centralized Processing Centre (CPC) in Bengaluru will have the authority to manage cases that involve mistakes in records, including issues related to refunds, as stated in the notification. Rules That Assist Taxpayers Under the revised framework, the Income Tax Department can now address issues under Section 154 of the Act that involve: Errors in tax calculations or refund determinations Failure to consider prepaid tax credits (such as advance tax, TDS, or self-assessment tax) Omission of eligible reliefs Incorrect calculations of interest under Section 244A (which per...
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Major GST & Filing Updates 2025: Must-Know for Businesses

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In 2025, India made amendments to its Goods and Services Tax (GST) system, which was introduced in 2017. The primary purpose of this amendment is to ensure that businesses and individuals comply with tax regulations, reduce tax fraud, and streamline tax management through the use of technology. The GST Network (GSTN) and the Central Board of Indirect Taxes and Customs (CBIC) have implemented new processes and software systems to streamline the tax return filing procedure for individuals. These improvements aim to simplify the tax filing process, minimise errors, and ensure that all taxpayers, as well as tax professionals, fulfil their tax obligations responsibly. Updates for the same have been given, and the impact they have had on business, accounting, and GST software providers. GSTR‑3B Locking Mechanism Introduced from July 2025 In 2025, an amendment was introduced regarding how businesses report their taxes using GSTR-3B. Now, the details of sales made by businesses, referred to as...
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