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.

Goodbye Form 13, Hello Form 128 Key Changes Taxpayers Must Know

Goodbye Form 13, Hello Form 128: Key Changes Taxpayers Must Know

Tax News / /

The compliance framework for obtaining a Nil or Lower TDS (Tax Deducted at Source) Certificate has undergone an important transformation with the introduction of Form 128 under the Income-tax Act, 2025. This new form replaces the earlier Form 13, bringing with it structural simplifications, reduced documentation requirements, and a more focused data submission process. For […]

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New Time Limits for Revised Income Tax Return

New Time Limits for Revised Income Tax Return

Income Tax / /

The Income Tax system in India is evolving steadily toward greater transparency, flexibility, and taxpayer convenience. One of the most important reforms in recent years relates to the time limits for filing a Revised Income Tax Return (ITR). Mistakes in tax returns are common, even among careful taxpayers, and the law recognises this by allowing

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Securities Transaction Tax (STT) on Futures and Options A Detailed Analysis

Securities Transaction Tax (STT) on Futures and Options: A Detailed Analysis

Tax News / /

The Indian capital market has witnessed exponential growth in the derivatives segment, particularly Futures and Options (F&O). With rising participation from retail traders, institutional investors, and foreign portfolio investors, regulatory oversight and taxation have become increasingly important. One such levy is the Securities Transaction Tax (STT), which directly affects every derivatives trader operating on recognized

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Service Accounting Codes (SAC) and Its Relevance Under GST A Detailed Analysis

Service Accounting Codes (SAC) and Its Relevance Under GST? – A Detailed Analysis

GST / /

The United Nations Statistical Division (i.e.; UNSD) developed the UN Central Product Classification (i.e.; UN-CPC), and based on this, the Central Board of Indirect Taxes and Customs (i.e., CBIC) developed the SAC codes with some modification in the Indian context. What is Service Accounting Code (SAC)? The term SAC stands for Service Accounting Code. We

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Salaried person and opting New Tax Regime — Check Tax Slabs for Financial year 2025-26

Updated Income Tax Slab Rates for Salaried Individuals in FY 2025-26 Under New Tax Regime

Income Tax / /

From, FY 2023-24 onwards, the New Tax Regime is the default tax regime. If you are a salaried person and intend to opt for the New Tax Regime in FY 2025-26, then this blog is for you.  This blog covers only the slab rates and related provisions under the New Tax Regime. The slab rates

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Residential Status of a Crew Member of a Ship or an Aircraft

Residential Status of a Crew Member of a Ship or an Aircraft

International Taxation / /

5 minutes read time. If you are an Indian citizen working as a crew member on a foreign-going Indian ship where the destination of the ship is outside India and are not sure whether you are a resident person or a non-resident person for income tax purposes and want to determine your residential status, then

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GST Alert Major Changes in Credit Notes from 1 October 2025 — Provisions Explained!

GST Alert: Major Changes in Credit Notes from 1 October 2025 — Provisions Explained!

GST / /

From 1 October 2025, the GST rules in India will change, especially for credit notes and their reflection in the GSTR-2B. What’s Changing? Under the revised process, credit notes issued by suppliers will now require explicit acceptance by customers (recipients) in the Invoice Matching System (IMS). If a buyer rejects a credit note, the supplier’s

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