Nilam Badrinath Kharat GST on Joint Development Agreements for Plotted Land: What Landowners and Developers Must Know Buying land and developing it into residential or commercial plots is a popular real estate business model. Often, the landowner has the land but does not want to invest in development, while the deve... 14-Oct-2026 Blog
Nilam Badrinath Kharat Budget Update 2025 FINANCE BILL, 2025 – KEY AMENDMENTS IN TAXATION 1. Personal Income Tax Amendments 🏠💰 Section 87A: Tax rebate limit increased to ₹12,00,000 with a maximum rebate of ₹60,000. Section 115BAC (New Tax Reg... 01-Feb-2025 Blog
Nilam Badrinath Kharat GST RATES FOR BUILDERS & DEVELOPERS 1. GST ON RESIDENTIAL PROJECTS (a) Affordable Housing: GST @ 1% (without ITC) A residential apartment qualifies as affordable housing if: Metro Cities: Carpet area ≤ 60 sq. meters & Cost ≤ ₹45 lakh No... 25-Jan-2025 Blog
Nilam Badrinath Kharat Taxation of Capital Subsidy Received 1. Income Tax Treatment of Capital Subsidy under PSI 2019 The taxability of a capital subsidy depends on its nature and utilization: a) Capital Receipt vs. Revenue Receipt If the subsidy is provided f... 21-Jan-2025 Blog
Nilam Badrinath Kharat Reversal of ITC under GST REVERSAL OF ITC UNDER DIFFERENT SITUATIONS 1. As per Rule 37 Condition : ITC must be reversed if payment to the supplier is not made within 180 days from the invoice date. Example 1 : A company purcha... 24-Dec-2024 Blog
Nilam Badrinath Kharat GST on Advance Received 1. Liability to Pay GST on Advances for Goods and Services Section 12(2)(b) (Time of Supply of Goods): GST on goods is payable at the earliest of: Date of issue of invoice. Last date on which the invo... 24-Dec-2024 Blog
Nilam Badrinath Kharat Audit Trail Under Companies Act Effective April 1, 2023, the Ministry of Corporate Affairs (MCA) in India mandated that all companies maintain their books of account using accounting software equipped with an audit trail feature. Th... 23-Dec-2024 Blog
Nilam Badrinath Kharat Common Reasons for Rejection of Company Name COMMON REASONS FOR REJECTION OF COMPANY NAMES Selecting an appropriate name for a company is a crucial step in the business incorporation process. However, many proposed names are often rejected due t... 18-Dec-2024 Blog
Nilam Badrinath Kharat Importance of GST Registration The Importance of GST Registration for Businesses in India The Goods and Services Tax (GST) has transformed the way businesses operate in India, simplifying the complex tax structure into one unified ... 29-Nov-2024 Blog