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CA SHARWAN

No Fraud, No Section 74: Safecon Verdict Upholds GST Fairness

Every once in a while, a court ruling restores confidence in the system. The recent Safecon verdict does exactly that for India’s GST framework reminding both taxpayers and authorities that compliance supported by documentation is not fraud, and that Section 74 cannot be stretched beyond its intent. When Compliance Was Mistaken for Fraud Safecon, a pharmaceutical company, faced scrutiny despite having done everything by the book. It had tax invoices,… Read More »No Fraud, No Section 74: Safecon Verdict Upholds GST Fairness

The Hidden Costs in Mutual Funds Every Investor Should Know

Mutual funds are one of the most convenient ways to grow your wealth. They offer diversification, professional management, and easy access to the market. However, beneath the surface lies a set of costs that many investors tend to overlook. These hidden expenses can quietly reduce your overall returns over time, making it important to understand what you are really paying for. Expense Ratio: The Ongoing Cost You Cannot Ignore Every… Read More »The Hidden Costs in Mutual Funds Every Investor Should Know

The IT Department’s Big Push: Why Your High-Value Transactions Are Under the Scanner

In an era of increasing financial transparency, the Indian Income Tax (I-T) department is sending a clear message: every significant transaction counts. A nationwide crackdown has been launched targeting entities that have failed to report high-value financial transactions, as mandated by the Statement of Financial Transactions (SFT) and Significant Financial Transactions (SRA) forms for the financial years 2023-24 and 2024-25. This isn’t just a routine check; it’s a strategic move… Read More »The IT Department’s Big Push: Why Your High-Value Transactions Are Under the Scanner

Risk-Based Provisional GST Refunds to Roll Out from October 1, 2025

The Central Board of Indirect Taxes and Customs (CBIC) has rolled out an important update to simplify the Goods and Services Tax (GST) refund process. As per Instruction No. 06/2025-GST, issued on October 3, 2025, a new risk-based system for provisional GST refunds will take effect from October 1, 2025. This move is expected to make refund processing quicker, more transparent, and less stressful for honest taxpayers across India. What’s… Read More »Risk-Based Provisional GST Refunds to Roll Out from October 1, 2025

Exporters May Soon Get 90% Upfront GST Refunds Only After Law Change

The Indian export sector could be on the brink of a significant relief measure. The government has proposed a mechanism to allow exporters to receive 90% of Goods and Services Tax (GST) refunds upfront, aimed at easing cash flow challenges and boosting competitiveness. However, this long-awaited reform will only take shape after key amendments are made to the GST law. Why the Change is Needed Exporters have consistently raised concerns… Read More »Exporters May Soon Get 90% Upfront GST Refunds Only After Law Change

Section 44AD vs 44ADA: Which is Right for Content Creators and Consultants

The digital economy has created new opportunities for freelancers, influencers, consultants and content creators. While this freedom is rewarding, it also raises important tax questions. One common source of confusion is whether to declare income under Section 44AD, meant for businesses, or Section 44ADA, meant for certain professions. Understanding the difference helps reduce the risk of scrutiny from the Income Tax Department. Section 44AD and its benefits for businesses Section… Read More »Section 44AD vs 44ADA: Which is Right for Content Creators and Consultants

Major Update: CBDT Raises Prosecution Threshold for Undisclosed Foreign Assets

For businesses, professionals, and individuals dealing with taxes in India, staying updated with regulatory changes is essential. Recently, the Central Board of Direct Taxes (CBDT) announced a significant update regarding undisclosed foreign assets, and it is worth understanding how it affects taxpayers. What’s Changed The CBDT has increased the prosecution threshold under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from INR 5 lacs… Read More »Major Update: CBDT Raises Prosecution Threshold for Undisclosed Foreign Assets

Banks Tighten Rules on Overseas Remittances: Why the Right Purpose Code Matters

In recent weeks, Indian banks have begun tightening their scrutiny of outward fund transfers. Individuals and businesses sending money abroad can no longer rely on vague categories like “other services” or the generic S1099 code. Instead, remitters must now clearly declare the exact purpose of their transactions under the Reserve Bank of India’s (RBI) guidelines. This move is part of India’s broader push to enhance compliance, improve transparency, and curb… Read More »Banks Tighten Rules on Overseas Remittances: Why the Right Purpose Code Matters

Online Gaming Bill 2025: A Turning Point for India’s Gaming Industry

India’s gaming industry has been on a rapid growth trajectory over the past decade, fueled by affordable smartphones, cheap data, and rising interest in both casual and competitive gaming. With the passage of the Promotion and Regulation of Online Gaming Act, 2025, the sector has entered a new chapter. While the law has sparked controversy, especially with its ban on real-money gaming (RMG), it also signals a long-term opportunity for… Read More »Online Gaming Bill 2025: A Turning Point for India’s Gaming Industry

Taxman May Soon Get More Power to Curb Benami Realty Deals

The Indian government is getting ready to crack down harder on hidden property deals made in someone else’s name. These are transactions where properties are purchased in the name of someone else, often a person with no real financial background, while the true owners remain hidden. Such arrangements are common in slum areas and rural villages, and they not only encourage corruption but also weaken the tax system. Greater Access… Read More »Taxman May Soon Get More Power to Curb Benami Realty Deals