# CBDT Corrigendum on ITR-3 Form — What Got Rectified & How It Affects Filers ## Introduction The Central Board of Direct Taxes (CBDT) regularly updates Income Tax Return (ITR) forms to align them with legislative changes and to remove inconsistencies. Recently, a **corrigendum to the ITR-3 form** has been issued to correct certain errors,…
# Capital Gains Tax after Budget 2024 — New LTCG & STCG Rates (With Examples) ## Introduction Union Budget 2024 brought **major changes in capital gains taxation** in India. The government simplified tax rates, removed indexation benefits in most cases, and increased rates for equity transactions. These changes are applicable **from 23 July 2024 onwards**…
Place of Supply for Inter-State Services — Section 12 vs Section 13 (IGST Act) Introduction Under GST, Place of Supply (POS) determines whether a transaction is intra-state (CGST + SGST) or inter-state (IGST). For services, the rules are mainly covered under Section 12 and Section 13 of the IGST Act, 2017. Understanding the difference between…
GST ITC Reversal under Rule 42 & 43 — Exempt Supply Apportionment (Detailed Guide) Introduction GST regime mein Input Tax Credit (ITC) ek bahut important concept hai. Lekin jab business taxable aur exempt dono type ki supplies karta hai, tab pura ITC claim nahi kiya ja sakta. Aise cases mein Rule 42 CGST Rules aur…
Section 44AD Presumptive Taxation (FY 2026–27): Turnover Limit aur Opt-Out Rules Introduction Section 44AD Income Tax Act ka ek presumptive taxation scheme hai jo chhote business owners ke liye banaya gaya hai. Is scheme ka main purpose compliance ko simple banana hai, jisse taxpayer ko detailed books maintain karne ki zarurat na pade. FY 2026–27…