Tax Knowledge

All updates, tips, and clarifications related to GST, income tax, TDS, return filing, registration processes, etc.

Why Filing an Income Tax Return (ITR) Is Important Even If You Have No Tax Liability

Leave a Comment / Clarifications, Income Tax Updates, Insights, Tax Knowledge / /

Many people believe that Income Tax Return (ITR) filing is only necessary when they have to pay income tax. However, this is one of the most common misconceptions among taxpayers. Even if your tax liability is zero, filing an ITR can provide several financial and legal benefits that can help you in the future. In […]

Why Filing an Income Tax Return (ITR) Is Important Even If You Have No Tax Liability Read More »

Excel Utilities of ITR-2 and ITR-3 for AY 2025–26 Are Now Live!

Leave a Comment / Income Tax Updates, Insights, ITR & Filing Help, Tax Knowledge, Updates / /

🔍 Latest Income Tax Filing Update – July 2025 The Income Tax Department has released the Excel-based offline utilities for ITR-2 and ITR-3 for Assessment Year 2025–26. Taxpayers falling under these categories can now prepare and file their income tax returns using the updated utility tools. 🧾 ITR-2 – Who Should File? ITR-2 is applicable

Excel Utilities of ITR-2 and ITR-3 for AY 2025–26 Are Now Live! Read More »

CBDT Notification No. 74/2025 – Income Tax (Dated: 11th July 2025)

Leave a Comment / Clarifications, Compliance & MCA, Income Tax Updates, Insights, Tax Knowledge, Updates / /

🔍 Overview The Central Board of Direct Taxes (CBDT) has issued Notification No. 74/2025 – Income Tax on 11th July 2025, announcing an important amendment under Section 10(23FE) of the Income-tax Act, 1961. This section provides income-tax exemption to specified persons, mainly sovereign wealth funds (SWFs) and pension funds making eligible investments in India. ✅

CBDT Notification No. 74/2025 – Income Tax (Dated: 11th July 2025) Read More »

GST Registration Process in India – Step-by-Step Guide | Hemant Consulting

1 Comment / GST FAQs, Insights, Tax Knowledge / /

What is GST Registration? Goods and Services Tax (GST) is a unified indirect tax system introduced in India in 2017. Any business whose aggregate turnover exceeds the threshold limit (₹40 lakhs for goods, ₹20 lakhs for services in most states) is mandated to register under GST. Even those below the threshold can voluntarily register for

GST Registration Process in India – Step-by-Step Guide | Hemant Consulting Read More »

E-way Bill & E-Invoice

E-Invoicing & E-Way Bills – Full Clarification

Leave a Comment / Insights, Tax Knowledge / /

📌 What is E-Invoicing under GST? E-Invoicing is the system introduced under GST for electronically authenticating B2B invoices through the Invoice Registration Portal (IRP). 🔍 Key Points: Mandatory for: Businesses with annual turnover of ₹5 crore or more. You must generate invoices through your billing/accounting software, which are then uploaded to the IRP. The portal

E-Invoicing & E-Way Bills – Full Clarification Read More »

Input Tax Credit

📘 Input Tax Credit (ITC) Under GST – A Complete Guide

Leave a Comment / Insights, Tax Knowledge / /

— Expert Advisory by Hemant Consulting At Hemant Consulting, we specialize in providing compliance-driven GST solutions tailored for businesses, startups, consultants, and service providers. One of the most common and crucial areas where businesses face confusion is Input Tax Credit (ITC) under the GST regime. Here’s a clear, practical explanation to help you claim ITC

📘 Input Tax Credit (ITC) Under GST – A Complete Guide Read More »

🔄 ITC Reversal on Non-Payment: What You Must Know

Leave a Comment / Tax Knowledge / /

Under GST law, businesses are entitled to claim Input Tax Credit (ITC) on purchases. However, there’s a critical compliance clause many overlook — ITC must be reversed if the supplier’s invoice is not paid within 180 days. 📌 What the Law Says As per Section 16(2)(d) of the CGST Act: “If the recipient fails to

🔄 ITC Reversal on Non-Payment: What You Must Know Read More »

“Capital Gain Tax 2025-26 India Tax Implications of Selling or Exchanging Your Property – What You Must Know in 2025”

Leave a Comment / Insights, Tax Knowledge / /

Selling, gifting, or even exchanging real estate in India can trigger complex tax consequences. Whether you’re a homeowner, investor, or developer, understanding capital gains tax and available exemptions is crucial to avoid surprises. Let’s break down everything you need to know — with expert support available anytime at 👉 hemantconsulting.com 📌 Capital Gains on Sale

“Capital Gain Tax 2025-26 India Tax Implications of Selling or Exchanging Your Property – What You Must Know in 2025” Read More »