Cash Deposit in Business Bank Account: When Can It Trigger an Income Tax Notice?
Cash Deposits
Depositing cash from your own sales into a business bank account is legal and completely normal. A notice…
Security Deposit Received From Customer: Is GST Applicable?
Security Deposit
Quick answer: GST is not applicable on a refundable security deposit received from a customer, as long as…
Advance Received From Customers: Is GST Payable?
Advance Received
Quick answer: GST is payable on advance received for the supply of services because the time of supply…
Can Expenses Be Disallowed If TDS Is Not Deducted?
Expenses
Quick answer: Yes. If you do not deduct TDS on an eligible payment to a resident or deduct…
What Happens If TDS Is Deducted but Deposited Late?
Late TDS
Quick answer: If TDS is deducted but deposited late, you must pay interest at 1.5% per month or…
How to Calculate Startup Costs in Dubai (2026 Guide)
Quick Answer The total cost of starting a business in Dubai varies significantly depending on the business activity,…
CMA Data Rejections: 10 Mistakes Indian Banks Flag
CMA Data
Short answer: Banks most often query or return CMA data because the figures do not match the ITR,…
Books Turnover vs GST Turnover Mismatch During Tax Audit
Books Turnover
Quick answer: A mismatch between turnover in your books turnover in your GST returns is common, and many…
How to Manage ITC Mismatch Notices (DRC-01C)
ITC
Short answer: A DRC-01C notice is a system-generated intimation under Rule 88D, sent when the ITC you claimed…
AIS and ITR Mismatch: Why Income Tax Notices Are Being Issued
AIS
Short answer: Income tax notices are issued when the information the department holds, through AIS and other sources,…