Category: Finance and Accounting
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ITC Reversal Under GST: Complete Guide to 22 September 2025 Changes
Introduction – What’s Changing from 22 September 2025 The Goods and Services Tax (GST) framework in India is undergoing a major compliance change. From 22 September 2025, businesses supplying goods that become exempt must reverse the Input Tax Credit (ITC) they previously claimed on unsold stock.This rule, known as the ITC reversal under GST, is…
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Golden Years Planning: How to Accumulate ₹2 Crore for Retirement Using EPF Contributions
Retirement is the one milestone that every working professional must prepare for. With rising costs and longer life expectancy, a retirement corpus of ₹2 Crore (or more) is now seen as the minimum for a secure post-retirement life. One of the most reliable tools for Indian salaried employees to achieve this goal is the Employees’…
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How Accountants Can Work Faster Using AI | Free AI Tools for Accountants (Detailed Guide)
Artificial Intelligence (AI) is no longer futuristic in accounting — it’s a reality. It reduces repetitive work, speeds up reporting, and improves accuracy. Below we explain the key tasks accountants can automate and then do a deep dive into each free AI tool with examples. Tasks Accountants Can Automate with AI Task AI Benefit Data…
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ITR Filing 2025: Tax Deductions You Might Be Missing and Smart Investments to Save More
With the Income Tax Return (ITR) filing season for FY 2024-25 (AY 2025-26) underway, many taxpayers end up paying more tax than they should because they miss out on eligible deductions. By planning ahead and investing in the right instruments, you can reduce your tax liability significantly. This article explains the most important deductions, investments,…
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Tax Rebate vs Deduction vs Exemption: Complete Guide for Indian Taxpayers FY 2024-25
Every year when tax season approaches, terms like rebate, deduction and exemption are thrown around. Many taxpayers don’t realise how each one affects their final tax liability. Understanding these concepts clearly can help you plan better, save more and file accurate returns. This guide breaks down all three with clear examples, updated figures and tables…
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Tax Computation 2025: Does Section 87A Apply If My Income is more then Rs 12 Lakh?
Understanding the Indian Income Tax system can often be confusing, especially when it comes to rebates and deductions. One such rebate is Section 87A, which provides tax relief to resident individuals. Many taxpayers wonder whether this rebate applies when their income is around Rs 12 lakh, but total income exceeds the threshold. This comprehensive guide…
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How to Update New GST Rates in TallyPrime – Step-by-Step Guide for 2025
With recent changes in GST rates across India, businesses must ensure their accounting and invoicing software reflects the updated rates. TallyPrime, being one of the most widely used accounting solutions, allows users to quickly update GST rates for ledgers, stock items, and stock groups. This guide explains how to update new GST rates in TallyPrime,…
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ITR Benefits 2025: How Filing Your Income Tax Return Can Get You Loans, Visas & More
In India, filing your Income Tax Return (ITR) is not just a legal obligation for those above the taxable threshold — it’s also an investment in your own financial credibility. Even if your income is below the tax limit, filing a “nil return” can open doors to instant loans, smoother visa approvals, scholarships, and more.…