Associate TG
Tax Audit for Business Owners: Understanding 44AB vs 44AD Made Simple
Tax Audit for Business Owners: Understanding 44AB vs 44AD Made Simple
Ramesh is a 35-year-old businessman from Jaipur who runs a small electronics shop. Every year, he struggles with income tax filing
He had to run around, fix it at the last minute, and barely submitted his return in time. But this year, things got more confusing. His CA asked him, “Are you eligible for presumptive taxation under 44AD or is tax audit required under 44AB?”
Ramesh scratched his head. “What’s the difference? Why does it matter?”
If you’re in Ramesh’s shoes and want a clear, no-jargon explanation of Sections 44AB and 44AD, this blog is for you.
Income Tax Return Due Date Extended From 31St July to 15th September.for Financial Year 2024-2025
ITR Due Date Extended from 31st July to 15th September: What It Means for You What Is the New ITR Due Date? The Income Tax Department has announced that the due date for filing ITR for the financial year 2024–2025 (assessment year 2025–2026) has been extended from: 📆 31st July 2025 ➜ 15th … Read more
Avoid GST Trouble: Why You Must Cancel E-Invoices Within 24 Hours
✅ Avoid GST Trouble: Why You Must Cancel E-Invoices Within 24 Hours Are you canceling your sales invoices but forgetting to cancel e-invoices on the GST portal? This common mistake can lead to GSTR-1 mismatches, GST notices, and unnecessary compliance issues. Let’s understand this with a real-world example and see how to avoid such GST … Read more
GSTN Advisory Update: Reporting Values in Table 3.2 of GSTR-3B (May 16, 2025)
GSTN Advisory Update GSTN Advisory Update The Goods and Services Tax Network (GSTN) has issued a significant update concerning the reporting of values in Table 3.2 of Form GSTR-3B. This advisory, dated May 16, 2025, follows the earlier communication from April 11, 2025, and addresses concerns raised by taxpayers regarding the editability of auto-populated values … Read more