GST TDS vs Income Tax TDS: What Is the Difference?
GST TDS
Short answer: GST TDS is tax deducted at source under Section 51 of the CGST Act by government…
GSTR-2B vs GSTR-3B Mismatch: What Should a Business Do?
GSTR-2B vs GSTR-3B
To resolve a GSTR-2B vs GSTR-3B mismatch, reconcile your purchase records with GSTR-2B before filing GSTR-3B each month.…
GST Notice for Excess ITC Claim: How to Reply and Correct It
GST Notice
GST Notice for Excess ITC Claim: How to Reply and Correct It Short answer: First identify the form:…
CBDT Extends Tax Audit Report Date to 21 October 2026: What Businesses Must Do Now
CBDT
The CBDT has extended the tax audit report date for AY 2026-27 from 30 September to 21 October…
Can Personal Expenses Be Claimed as Business Expenses?
Personal Expenses
Short answer: No. Only expenses incurred wholly and exclusively for the business are deductible, and personal expenses are…
Can a Business Claim Expenses Without a GST Invoice?
Expenses
Short answer: For income tax, a business claim expenses even without a GST invoice if it is genuine, incurred…
Current Account Transactions That Can Trigger an Income Tax Notice
Current Account Transactions
Short answer: A current account transactions is not watched in isolation. Banks report certain transactions to the Income…
GST Turnover vs Income Tax Turnover: Why the Figures May Differ
GST Turnover vs Income Tax Turnover
Short answer: GST turnover vs income tax turnover differs because GST turnover is calculated from supplies reported in…
Can You Claim ITC If the Supplier Has Not Filed GSTR-1?
ITC
Short answer: Generally, no, not until the invoice appears in your GSTR-2B. Section 16(2)(aa) allows ITC only when…
What to Do If Turnover in GST Returns Does Not Match ITR
GST Returns Turnover
Short answer: Do not guess and do not ignore the gap. Start from the GST returns turnover, adjust…