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Section 73 vs Section 74 under GST: What’s the Difference? A Chartered Accountant Explains with Practical Examples

July 20, 20260Comments

Received a GST notice and confused about Section 73 or Section 74? Learn the key differences between genuine GST compliance errors and fraud-related proceedings, understand penalties, practical examples, Section 74A updates, and how businesses should respond to GST demand notices.

Which GST Registration Is Right for Your Business? A Chartered Accountant’s Practical Guide

July 20, 20260Comments

Confused about which GST registration is suitable for your business? Learn the differences between regular and composition GST registration, compulsory vs voluntary registration, eligibility, compliance requirements, and practical factors every entrepreneur should consider before registering under GST.

ITR-1 vs ITR-2 vs ITR-3 vs ITR-4: Which Income Tax Return Form Should You File This Year?

July 20, 20260Comments

Confused about whether to file ITR-1, ITR-2, ITR-3, or ITR-4? Learn the key differences between each Income Tax Return form, understand who should file which return, common filing mistakes, and how to choose the correct ITR form based on your income sources and tax obligations.

Presumptive Taxation vs. Regular Books of Accounts: Which is the Right Choice for Freelancers, Consultants & Small Businesses?

July 20, 20260Comments

Choosing between presumptive taxation and maintaining regular books of accounts can significantly impact your tax liability, compliance requirements, and business growth. Learn the key differences between Sections 44AD and 44ADA, understand when each option is beneficial, and make an informed decision for your business or profession.

Reporting Capital Gains on Company Buybacks in ITR-2: Understanding the New Reporting Requirements for AY 2026-27

July 20, 20260Comments

Company buybacks now require careful reporting in ITR-2. Learn the latest reporting requirements for AY 2026-27, how to calculate capital gains, determine the cost of acquisition, classify holding periods correctly, and avoid common mistakes that could trigger notices from the Income Tax Department.

Why Your CA Keeps Asking for MSME Details Every Year: Understanding Section 43B(h) of the Income Tax Act and the MSMED Act, 2006

July 20, 20260Comments

Section 43B(h) of the Income Tax Act has made timely payments to MSME suppliers a critical tax compliance requirement. Learn why your Chartered Accountant requests MSME details every year, how delayed payments can increase taxable income, the payment timelines under the MSMED Act, and practical steps to avoid unnecessary tax disallowances and improve compliance.

Section 73 vs Section 74 under GST: What’s the Difference? A Chartered Accountant Explains with Practical Examples

Which GST Registration Is Right for Your Business? A Chartered Accountant’s Practical Guide

ITR-1 vs ITR-2 vs ITR-3 vs ITR-4: Which Income Tax Return Form Should You File This Year?

Presumptive Taxation vs. Regular Books of Accounts: Which is the Right Choice for Freelancers, Consultants & Small Businesses?

Why Your CA Keeps Asking for MSME Details Every Year: Understanding Section 43B(h) of the Income Tax Act and the MSMED Act, 2006

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