Advocate Rajat

Rajat Punyani is a tax enthusiast and financial insights writer dedicated to helping businesses and individuals navigate the complexities of modern taxation. Known for breaking down complicated tax regulations into easy-to-understand guidance, he shares practical strategies, industry updates, and expert perspectives that empower readers to make informed financial decisions. His goal is to bridge the gap between tax compliance and business growth, turning complex information into valuable insights that readers can apply with confidence.

Commercial Credit Note vs GST Credit Note Key Differences, GST Implications, Accounting Treatment & Practical Examples

Commercial Credit Note vs GST Credit Note: Key Differences and GST Implications

GST / /

In business, suppliers may sometimes need to reduce the value of transactions due to sales returns, post-sale discounts, pricing revisions, incentive schemes, damaged goods, or billing errors. To record such reductions, businesses issue credit notes. However many taxpayers find it difficult to understand the difference between a Commercial Credit Note and a GST Credit Note. […]

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ITR-1 (Sahaj) for AY 2026-27 Who Can File It and Who Cannot

ITR-1 (Sahaj) for AY 2026-27: Who Can File It and Who Cannot?

ITR Filling / /

Filing Income Tax Return (ITR) is an important responsibility for every taxpayer, and ITR-1 is the simplest return form designed for salaried individuals and pensioners. If you earn income from salary, pension, up to two house properties, or other sources such as bank interest, ITR-1 can help you report your income to the Income Tax

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Vaibhav Suryavanshi Earned ₹7 Crore Before Turning 18 – But Does a Minor Have to Pay Income Tax

Vaibhav Suryavanshi Earned ₹7 Crore Before Turning 18 – But Does a Minor Have to Pay Income Tax?

Income Tax / /

When news broke that teenage cricket sensation Vaibhav Suryavanshi had reportedly earned ₹7 crore before reaching adulthood, it sparked more than just admiration for his talent. It also raised an interesting tax question: Can a minor be liable to pay income tax in India? Many people assume that individuals below the age of 18 are

Vaibhav Suryavanshi Earned ₹7 Crore Before Turning 18 – But Does a Minor Have to Pay Income Tax? Read More »

How Can You Save Tax Through HRA and Rent Under the Old Tax Regime?

How Can You Save Tax Through HRA and Rent Under the Old Tax Regime?

Tax Saving / /

For salaried employees who have opted for the Old Tax Regime, effective tax planning plays a crucial role in reducing overall tax liability. One of the most valuable tax-saving benefits available is the exemption on House Rent Allowance (HRA). If you live in rented accommodation and receive HRA as part of your salary package, you

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GSTN Introduces Major E-Way Bill Changes from 15 June 2026 What Businesses Need to Know

GSTN Introduces Major E-Way Bill Changes from 15 June 2026: What Businesses Need to Know

GST / /

The Goods and Services Tax Network (GSTN) has announced significant updates to the E-Way Bill system that will impact businesses involved in the movement of goods across India. As per the GSTN advisory issued on 20 May 2026, two important enhancements are scheduled to be implemented on the E-Way Bill portal by 15 June 2026.

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Accounts and Records Under GST Analysis of Section 35

Accounts and Records Under GST: Analysis of Section 35

GST / /

The Goods and Services Tax (GST) system in India is built on transparency, accountability, and proper documentation. One of the most important compliance requirements under GST is the maintenance of proper books of accounts and records. To ensure systematic compliance, Section 35 of the Central Goods and Services Tax (CGST) Act, 2017 lays down detailed

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“Section 393 of New Income Tax Act TDS Rules, Rates & Compliance Explained”

Section 393 of New Income Tax Act: TDS Rules, Rates & Compliance Explained

Income Tax / /

The introduction of Section 393 under the New Income Tax Act marks a significant shift in how Tax Deducted at Source (TDS) is governed in India. While TDS has always been a core part of tax collection, the new structure aims to simplify provisions, improve compliance, and enhance transparency. This detailed guide explains every aspect

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Big Tax Change Alert! Form 16 Replaced by Form 130 – Don’t File ITR Without Reading This

Big Tax Change Alert! Form 16 Replaced by Form 130 – Don’t File ITR Without Reading This

ITR Filling / /

India’s tax system is steadily moving toward a more digital, transparent, and automated structure, and one of the biggest changes for salaried individuals is the introduction of Form 130 in place of Form 16. If you rely on Form 16 every year to file your Income Tax Return (ITR), this update is extremely important. In

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Who is Required to Get Tax Audit Under Income Tax Act (Section 44AB & Limits Explained)

Who is Required to Get Tax Audit Under Income Tax Act? (Section 44AB & Limits Explained)

Tax News / /

A tax audit is one of the most important compliance requirements under the Income Tax Act in India. It is not just about checking accounts—it is about ensuring that taxpayers are reporting their income correctly and following all tax laws. Many business owners, freelancers, and professionals often get confused about whether they fall under tax

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Are Tax Compliance Rules Becoming Easier? A Look at the 206AB & 206CCA Withdrawal

Are Tax Compliance Rules Becoming Easier? A Look at the 206AB & 206CCA Withdrawal

Tax News / /

India’s tax framework has been undergoing a steady transformation – moving from a system driven by manual enforcement and layered checks to one powered by automation, data analytics, and simplified procedures. Among the recent changes reflecting this shift is the withdrawal of Sections 206AB and 206CCA of the Income Tax Act. These sections, introduced to

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