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Income-tax Act, 2025: New PAN Application Form for Non-Individual Applicants

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Income-tax Act, 2025: New PAN Application Form for Non-Individual Applicants Introduction A Permanent Account Number (PAN) is one of the most important tax identification numbers issued by the Income-tax Department. Whether it is opening a bank account, filing an income tax return, obtaining GST registration, or carrying out high-value financial transactions, PAN plays a vital role in almost every business activity. With the enforcement of the Income-tax Act, 2025 , the Government has introduced a new PAN application framework to make the registration process more organised and entity-specific. One of the significant changes is the introduction of Form No. 94 , which is now prescribed for Indian applicants other than individuals. The objective behind this change is not merely to replace an old form with a new one, but to simplify the application process, improve the quality of information collected, and strengthen the verification mechanism. Every business entity planning to obta...
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Documents Required for the Registration of a Private Limited Company in India

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  Documents Required for the Incorporation of a Private Limited Company in India Director related Documents 1. PAN card of all Directors 2. Aadhaar of all directors 3. Address proof of Directors:   Either “BANK STATEMENT ” OR “ POST PAID MOBILE BILL ” OR “ ELECTRICITY BILL ” OR “ WATER BILL ” (NO OTHER DOCUMENT WILL BE CONSIDERED AS ADDRESS PROOF). 4. Provide the details of how long the person has been living at the above address. 5. Passport-size photos of all directors. 6. Email addresses and mobile numbers of all directors. 7. Current Occupation and engagement of all directors. 8. Educational details of all directors 9. Place of birth of all directors   Company -Related Details: 1. Two proposed names of the company ( must be UNIQUE ) 2. Detail of business activity for drafting of MOA & AOA 3.A New Email Id with password for registration purpose Registered office related Documents of the company If the business is run on a rented pro...
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Taxation of Earnings from the Sale of Units of Mutual Funds – AY 2026-27

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  A Complete Guide to Capital Gains Tax on Mutual Funds and Applicable ITR Forms Mutual funds have become one of the most popular investment options for individuals seeking long-term wealth creation. While investing in mutual funds offers several financial benefits, it is equally important to understand the tax implications when you sell or redeem your units. The taxation of mutual funds depends on the type of mutual fund, the holding period, and the date of investment. Incorrect reporting of capital gains may lead to notices from the Income Tax Department. Therefore, every taxpayer should understand the applicable tax provisions before filing the Income Tax Return (ITR). This article explains the latest taxation rules applicable for Assessment Year (AY) 2026-27 . What is Taxable When You Sell Mutual Fund Units? Whenever an investor redeems, switches, or sells units of a mutual fund, the profit earned is treated as Capital Gain . The capital gain is calculated as follow...
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Before Filing Your Income Tax Return, Make Sure You're Not Missing These Critical Checks.

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  Key Things to Consider Before Filing Your Income Tax Return (ITR) Filing your Income Tax Return (ITR) is not just a statutory compliance; it is an important financial activity that helps maintain a clean tax record and avoids future notices from the Income Tax Department. Before filing your ITR, taxpayers should carefully review the following points: 1. Verify Form 26AS Check your Form 26AS to ensure that all TDS, TCS, and tax payments made during the financial year are correctly reflected. Any mismatch may result in tax demands or delayed refunds. 2. Reconcile with Annual Information Statement (AIS) Review your AIS and Taxpayer Information Summary (TIS) for details of income, investments, securities transactions, interest earnings, and other financial activities reported to the Income Tax Department. 3. Select the Correct ITR Form Choosing the appropriate ITR form is crucial. Filing with an incorrect form may lead to the return being treated as defective and requir...
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Have you recently changed your bank account? Here's one GST compliance step you shouldn't miss

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Updated Your Business Bank Account? Don't Forget GST Portal! Many taxpayers update their bank account with their bank but forget to update the same details on the GST Portal. This can lead to issues in receiving GST refunds and maintaining accurate registration records. ✅ Login to GST Portal ✅ Navigate to Registration Amendment (Non-Core Fields) ✅ Add/Update Bank Account Details ✅ Upload Supporting Documents ✅ Verify through DSC/EVC and Submit Keeping your GST registration updated is a small compliance step that can help avoid future complications. 📌 Documents generally required: • Cancelled Cheque • First Page of Passbook • Bank Statement showing Account Number and IFSC Stay compliant. Stay updated. #GST #GSTRegistration #GSTPortal #TaxCompliance #BusinessCompliance #CA #CharteredAccountant #GSTUpdate #Finance #TaxConsultant #IndiaBusiness #ProfessionalUpdates
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You Can Start Your Business Without GST Registration: What Every Entrepreneur Must Know

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  Many aspiring entrepreneurs postpone their business plans because they believe that GST registration is mandatory before commencing operations. However, this is one of the most common misconceptions surrounding GST compliance. The GST law itself provides relief to small businesses by allowing them to operate without GST registration up to specified turnover limits, subject to certain conditions. 1. GST Registration Is Not Mandatory From Day One A person can legally start a business without obtaining GST registration if the aggregate turnover is within the prescribed threshold limits and the business does not fall under any category requiring compulsory registration. Therefore, obtaining a GST Registration Certificate is not necessarily the first step in starting a business. 2. Threshold Exemption Available Under GST The GST law provides the following threshold limits: • Businesses engaged exclusively in the supply of goods – Aggregate turnover up to ₹40 lakh (subject to State-wis...
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Income Tax on Sale of House, Land & Property – Updated Guide for AY 2026–27

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  Tax on Sale of Immovable Property in India – Complete Guide for AY 2026–27 Sale of immovable property is one of the most significant financial transactions for any taxpayer. Whether it is a residential house, plot, commercial property, or inherited land, the income earned from such transfer may attract capital gains tax under the Income-tax law. For Assessment Year 2026–27, property taxation has become more important due to the major amendments introduced through Budget 2024 and the transition towards the new Income-tax Act, 2025. Taxpayers are now required to carefully evaluate holding period, tax rates, indexation benefit, exemption provisions, and TDS implications before selling any immovable property. What is Immovable Property? Immovable property generally includes: Residential house property Flats and apartments Commercial buildings Shops and offices Land and plots Industrial property Income arising from transfer of suc...
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