Category: Finance and Accounting
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New GST Rates from September 22: Highest Tax on Luxury Items – Full Sector-Wise List
The Government of India has revised the Goods and Services Tax (GST) rates, effective September 22, impacting multiple sectors. This update brings both relief and burden depending on the category of goods. While some essential items continue to attract lower taxes, luxury and high-value products have been moved to the highest GST slab of 40%.…
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Who Needs to File ITR in India and Who Doesn’t – Complete Guide for FY 2025-26
Income Tax Return (ITR) filing is a crucial part of financial compliance in India. However, not everyone is required to file an ITR. Understanding whether you need to file or not can save you time, avoid penalties, and help you manage your finances better. In this guide, we’ll cover: 1. Who is Required to File…
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GST Cuts on Cement, Steel, Tiles & Paints: Affordable Housing and Construction Costs Drop in India 2025
The government’s recent GST reform is being hailed as one of the most impactful tax changes for India’s real estate sector. By reducing GST rates on cement and other construction materials, the cost of building homes is set to decline significantly. This move comes at a crucial time when the country is focusing on affordable…
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New GST Rates in India 2025 – Full List, Effective Date, and Key Changes
The Goods and Services Tax (GST) Council has approved a major restructuring of GST rates in India, making the system simpler and more consumer-friendly. From 22nd September 2025, the new GST rates will officially come into effect. This is one of the biggest tax reforms since GST was first implemented in 2017. In this article,…
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ITR Status Check Online | How to Check ITR Status Online
Filing your Income Tax Return (ITR) is only the first step. Once you’ve submitted your return, the next important step is to track your ITR status online. Checking your ITR status helps you know whether: This guide explains all the methods to check ITR status online in 2025. ✅ Why Check ITR Status Online? 🔑…
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ITR Filing for US Stocks (and Other Foreign Shares): Complete, Step-by-Step Guide — Schedules FA, FSI, TR & Form 67
This is a practical, India-focused walkthrough for resident individuals who invest in US stocks (or any foreign shares) via brokerage apps. It covers how those earnings are taxed in India, how to disclose foreign assets, and how to claim foreign tax credit (FTC) correctly. 1) First things first: which ITR form? 2) How income from…
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Intimation u/s 143(1) Income Tax Notice Explained | Refund, Demand & Next Steps
📑 Intimation u/s 143(1) – Explained in Detail When you file your Income Tax Return (ITR), the Income Tax Department doesn’t just accept it blindly. Your return goes through a preliminary check under Section 143(1) of the Income Tax Act, 1961. After this check, the department sends you an Intimation u/s 143(1) on your registered…
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ITR Filing 2025: Do Students or Unemployed Individuals Need to File Income Tax Returns?
With the Income Tax Return (ITR) filing deadline for FY 2024-25 (AY 2025-26) extended to 31st October 2025, many students and unemployed individuals are wondering whether they need to file returns at all. The answer depends on income level, source of income, and other financial activities. 🔹 Do Students Need to File ITR in 2025?…