Tax Connect
madhuvridhi
Author: Tax Connect with madhuvridhi
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Mistakes That Invite GST Notice
Many business owners unknowingly make compliance errors that lead to hefty penalties and interest. To protect your bottom line and keep the taxman at bay, here are the top 10 GST mistakes you need to stop making today.
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Daily Books of Account Data and Documents Backup on Indian Servers: The New Legal Mandate Under Rule 46(8)
The books of account and other documents specified in sub-rules (1), (4) and (6) maintained in electronic mode shall remain accessible in India at all times, and the back-up of such books of account and other documents maintained in electronic mode, shall be kept in servers physically located in India, and shall be updated on…
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The Ultimate Income Tax Return (ITR) Filing Checklist for FY 2025-26: Secure Your Compliances Today
The statutory compliance window for the Financial Year 2025-26 (Assessment Year 2026-27) is formally active. Filing your tax return correctly requires deep structural precision to avoid automated scrutiny notices, secure legitimate refunds, and optimize your wealth under the law.
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Reversal of ITC on Manufacturing Losses, Spoilage, and Free Samples under GST: A Complete Guide
Understanding when ITC reversal is required is crucial for compliance and avoiding litigation. Certain situations require reversal of ITC, especially in cases involving manufacturing losses, spoilage, and free samples.
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How to Reply to a GST Notice for ITC Mismatch: A Complete Step-by-Step Guide
Replying to a GST notice for an ITC mismatch doesn’t have to be a nightmare if you maintain clean records and conduct timely reconciliations. By understanding the root cause, gathering the right documentation, and filing a timely response in Form ASMT-11, you can resolve the issue smoothly.
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Setting Up a Subsidiary in India: Pvt Ltd vs. Liaison Office vs. Branch Office
Planning to expand to India? Compare Liaison Office vs. Branch Office vs. Pvt Ltd Company. A guide for foreign companies on tax, liability, and RBI compliance
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Virtual CFO Services: How Foreign Companies Can Manage Indian Accounts Remotely
Expanding to India? Don’t let complex financial regulations slow you down. Discover how Virtual CFO services help foreign companies manage Indian accounts, ensuring GST, TDS, and RBI compliance remotely—without the cost of a full-time hire.
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Budget 2026: Disclosure Scheme for Foreign Assets (ESOPs, Accounts, and Investments) – Understanding FAST-DS 2026
Budget 2026 ESOP disclosure relief, Schedule FA penalty waiver, Foreign asset reporting for students, Section 49 Black Money Act amendment, Penalty for undisclosed foreign income India.
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Budget 2026: Direct Tax “Ease of Living” Provisions – Lower TDS/TCS, Simplified Compliance, and Dispute Resolution
TCS rate reduction 2026, TDS on manpower supply, MACT interest tax exemption, Foreign Asset Disclosure Scheme 2026, Revised Return deadline March 31, Lower deduction certificate automation.
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Budget 2026: Major Changes in Income Tax Return Deadlines – Normal, Belated, and Updated Returns
Budget 2026 extends ITR deadlines: 31st Aug for non-audit businesses and 31st Mar for Revised/Belated returns. Updated returns now allowed during reassessment.