Category: Finance and Accounting
-
GST on Life & Health Insurance Slashed: Should You Wait Until September 22, 2025?
The Indian government has recently announced a major change in the taxation of life and health insurance premiums. From September 22, 2025, the 18% Goods and Services Tax (GST) on these premiums will be completely removed. This is a significant move that directly affects policyholders, insurers, and insurance agents. If you are considering buying a…
-
GST Removed from Life & Health Insurance: How Much Will Policyholders Actually Save?
From Sept 22, 2025, no GST on life & health insurance premiums. Know how much you save, impact on policyholders, and renewal tips. The recent announcement of the removal of Goods and Services Tax (GST) on life and health insurance premiums has created a wave of positivity among policyholders. From September 22, 2025, individuals will…
-
Pay Tax on 50% Income Only – ITR 4, High Tax Savings & Filing Guide
Many small business owners, freelancers, and professionals want to reduce their taxable income legally. One of the easiest ways to do this is by filing ITR 4 under the presumptive taxation scheme, which allows you to pay tax on 50% of your income in certain cases, reducing your tax burden significantly. This article explains how…
-
Income Tax Refund Update 2025 – Faster ITR Processing & Refund Tips
Learn how Income Tax Returns (ITR) are processed faster in 2025, how ITR type affects refund, and steps to get your refund quickly. The Income Tax Department has introduced system updates to speed up the processing of Income Tax Returns (ITRs) and ensure refunds are issued faster. Taxpayers who have filed their returns but are…
-
Preparing for Tally + GST Audits in 2025 – A Complete Checklist Guide
With the GST network maturing and e-invoicing expanding to almost all turnover slabs, 2025 is shaping up to be the most audit-intensive year yet. Businesses relying on TallyPrime must ensure their books align perfectly with GST returns, e-invoice data, and vendor filings. A structured checklist-based approach reduces last-minute panic, minimizes penalties, and keeps you audit-ready…
-
How Excel & Automation Streamline GST Filing – Complete Guide to E-Invoicing, GSTR-3B & Tax Reconciliation
Under India’s GST regime, accuracy and timeliness are non-negotiable. Every month, businesses must prepare and upload data for GSTR-1, GSTR-3B, and increasingly, e-invoices. Manual preparation—especially when handling hundreds of invoices—can lead to omissions, wrong tax rates, and late filing penalties. By combining Excel’s flexibility with light automation (macros, Power Query, pivot tables), even small and…
-
50 GST Voucher Entries in TallyPrime (With Free Excel Download) – Real-World Accounting Practice
Goods and Services Tax (GST) has transformed the way Indian businesses record and report transactions. TallyPrime—India’s most widely used accounting software—offers built-in GST features to ensure compliance and efficiency. But simply enabling GST is not enough; understanding how to pass accurate voucher entries is what makes you a competent accountant. In this guide, we’ll explore…
-
ITR-1 Filing Guide for FY 2025-26: Step-by-Step Guide for Salaried Employees
Filing your Income Tax Return (ITR-1, Sahaj) for Financial Year 2025-26 (Assessment Year 2026-27) is one of the most important financial tasks for salaried employees. With recent changes in eligibility, filing rules, and tax slabs, it’s crucial to understand how to file correctly, avoid penalties, and maximize deductions. This detailed guide covers eligibility, new updates,…
-
Impact of the New Tax Regime on Insurance Sales in India: A Detailed Analysis
The Government of India introduced the new tax regime with simplified tax slabs and reduced compliance, but it also removed most of the popular tax-saving deductions such as Section 80C, 80D, and others. While this has made filing easier, it has also changed how individuals view insurance and investment products. This shift has directly impacted…
-
Car Prices in India After GST Rate Cut – Full List With Old and New Prices
The recent GST rate cut on automobiles in India has brought huge relief to buyers. Car prices across segments—from hatchbacks to premium SUVs—have dropped significantly. The move is expected to boost sales in the auto sector, revive demand for small cars, and make popular models more affordable for Indian customers. In this article, we provide…