#indiantax

[companyregister1]

GST Return Filing 2026 – Complete Guide for Indian Businesses

GST Return Filing 2026 – Complete Guide

Are you confused about GST return filing in 2026? You're not alone. Thousands of Indian business owners and taxpayers struggle with deadlines, forms, and compliance every year.

Here's everything you need to know 👇

What is GST Return Filing?

GST return filing is the process of submitting your business's tax details — sales, purchases, tax collected, and tax paid — to the government portal (GSTN). It is mandatory for every GST-registered business in India.

Key GST Return Forms in 2026

GSTR-1 — Details of outward supplies (sales) → Monthly filers: 11th of every month → Quarterly filers (QRMP): 13th of the month after quarter

GSTR-3B — Summary return + tax payment → Monthly: 20th of every month → Quarterly: 22nd or 24th (based on state)

GSTR-9 — Annual return → Deadline: 31st December of the next financial year

GSTR-9C — Reconciliation statement → For businesses with turnover above ₹5 crore

Late Filing Penalties

Missing GST return deadlines can cost you:

₹50/day for regular returns (₹25 CGST + ₹25 SGST)

₹20/day for NIL returns

18% annual interest on unpaid tax

💡 Tips to Stay Compliant in 2026

Reconcile your GSTR-2B with purchase records every month

Use the QRMP scheme if your turnover is below ₹5 crore

File GSTR-1 before GSTR-3B every month

Keep your DSC/EVC updated for filing

Never ignore GST notices — respond within the given time

🔗 Read the Full Guide: 👉 https://gstregistration.co/blog/gst-return-filing-2026-complete-guide

Need help with GST registration or return filing?

[sakshingo]

What documents are required to claim tax exemption on donations made to NGOs in India?

Donating to a registered NGO in India not only supports meaningful social causes but can also provide tax benefits under Section 80G of the Income Tax Act. However, to successfully claim a tax deduction, donors must keep certain documents and details ready while filing their income tax returns. Understanding these requirements helps ensure a smooth and valid claim.The most important document is the official donation receipt issued by the NGO.

This receipt should clearly mention the NGO's name, address, PAN number, and 80G registration details, along with the amount donated, date of donation, and donor's name. Without this information, the tax exemption claim may be rejected.Another key requirement is proof of payment. Donations should ideally be made through banking channels such as UPI, net banking, cheque, debit card, or credit card.

Cash donations above the permissible limit are not eligible for tax deductions. Maintaining transaction proof or bank statements can be helpful in case of verification.Donors should also check whether the NGO has a valid and active 80G certificate at the time of donation.

Some 80G Exempt NGOs also provide a certificate or acknowledgment letter that confirms eligibility for tax exemption, which can be kept for records.When filing income tax returns, the donation amount must be declared under the appropriate section, and details from the receipt should be entered correctly. Keeping digital copies of all documents ensures easy access during filing or future reference. Proper documentation not only secures tax benefits but also promotes transparent and responsible giving.

[dailyfinancial]

2025 Tax Filing Alert: The Shocking Reason Form 16 Alone Won't Protect You from Penalties

Most Indians blindly trust Form 16 for tax filing—until costly errors and missed refunds hit. Discover the hidden tax traps, secret deductions, and new 2025 RBI rules that could change your ITR game forever. What you don’t know can cost you thousands—uncover the missing piece today! Your employer hands you Form 16, the trusted document summarizing your salary and tax deductions— but that piece…

2025 Tax Filing Alert: The Shocking Reason Form 16 Alone Won't Protect You from Penalties

[returnfiling]

Got a Foreign Bank Account? 🌍💸 Don't Forget About Tax on That Interest in India!  by Return Filings Via Flickr:

Hey globetrotters and international savers! 👋 If you're an Indian resident (that's ROR for most of us!) and you've got money chilling in a bank account outside India, there's something super important you need to know: that interest you're earning is taxable in India! Even if it never touches Indian soil.

🤯We've broken down the essential info on Taxation of Interest Earned from Foreign Bank Accounts. Check out our image for all the key details, but here's the quick scoop:

Yes, It's Taxable! If you're an Indian resident, ALL interest from your foreign bank accounts needs to be reported and taxed here. No exceptions!

How It's Taxed: Unlike some Indian savings interest, foreign bank interest gets taxed fully at your individual income slab rates, under 'Income from Other Sources'. Straight up!

Claim Your Foreign Tax Credit (FTC)! If you've already paid tax on that interest abroad, you can claim a credit in India. Make sure to file Form 67 before your ITR to use those DTAA benefits! Smart move, right? 😉

Report It All in Your ITR: You'll need to declare this interest income in ITR-2 or ITR-3. AND (this is crucial!) the foreign bank account itself needs to be detailed in Schedule FA (Foreign Assets). Don't miss this!

The Big Risk: Non-Disclosure! Seriously, not reporting this income can lead to hefty penalties under the Black Money Act (think up to ₹10 lakh fines!) and major scrutiny from the tax department. Play it safe!

Staying compliant is key to a stress-free financial life, especially when dealing with international money. Be informed, be smart!

Got questions about foreign interest income or Schedule FA? Drop them in the comments! Reblog if you know someone with an overseas bank account who needs to see this!

[returnfiling]

Got ESOPs from a Foreign Company? 🤯 Don't Forget to Report Them in Your Indian ITR!  by Return Filings Via Flickr: Hey fellow professionals with international gigs! 👋 Did you get Employee Stock Option Plans (ESOPs) from a company outside India? That's awesome! But before you cash in, there's a super important tax step you need to know about for your Indian Income Tax Return (ITR).

We've got a detailed guide on Reporting ESOPs from Foreign Employers in Indian ITR. Check out our image for all the specifics, but here’s the quick rundown you need to be aware of:

Double Taxation Alert! 🚨 Your foreign ESOPs are taxed TWICE in India: When you exercise them (that's considered salary income!).When you sell the shares (that's capital gains!).

Where to Report in ITR: Exercised value goes under 'Salary Income'.Capital gains from selling the shares go under 'Capital Gains' (use ITR-2 or ITR-3).

Foreign Tax Credit (FTC) to the Rescue! If you've already paid tax on those ESOP gains abroad, don't pay twice! You can claim a Foreign Tax Credit (FTC) by filing Form 67 before you submit your ITR. Don't miss this!

Schedule FA is a Must! Even if they're just sitting there, your ESOPs in foreign companies must be disclosed in 'Schedule FA' of your ITR. You'll need details like the country, acquisition cost, and what kind of holding it is.

Consequences of Not Reporting: Skipping this can lead to serious trouble! We're talking penalties under the Black Money Act for undisclosed foreign assets, plus interest and scrutiny from the tax folks. 😬

Understanding this helps you stay compliant and avoid headaches later. Don't get caught off guard!

Got questions about your foreign ESOPs and Indian taxes? Drop them in the comments! Reblog if you know someone who needs this info!

[returnfiling]

Got Property Abroad? 🏠🌍 Don't Forget to Declare it in Your Indian ITR! (Seriously, it's Important!)  by Return Filings Via Flickr:

Hey everyone! If you're an Indian resident (ROR) and you own real estate outside of India, listen up! Filing your Income Tax Return (ITR) might be a bit more complex than you think. You have to declare that foreign property, even if it's just sitting there not earning a dime.

We've put together a step-by-step guide on how to handle foreign real estate in your Indian ITR. Check out our latest image for all the key details, but here's the lowdown:

Who Needs to Report? If you're an Indian resident, 'Schedule FA' in your ITR is your new best friend. Disclose everything!

How to Fill it Out: Think country, address, when you got it, how much of it you own, and what it cost. Typically, you'll be using ITR-2 or ITR-3.

Foreign Rental Income? Yep, that's taxable in India. But good news! If you've paid tax abroad, you might get a Foreign Tax Credit (FTC) thanks to DTAA. (Don't you just love acronyms? 😉)

Selling Your Overseas Pad? Capital gains tax applies here too. Long-term gains (held over 2 years) are 20% with indexation, short-term are as per your slab. Plan accordingly!

The Big No-No: Non-Disclosure! Skipping this can lead to some serious penalties under the Black Money Act – we're talking fines up to ₹10 lakh and major legal headaches. Don't risk it! 

🚨Staying compliant keeps you out of trouble and helps you manage your finances smoothly. Be smart, be informed!

[returnfiling]

Avoiding-Double-Taxation-on-Foreign-Salary-Key-Strategies by Return Filings Via Flickr: Working abroad and sending money home? 💸 Or maybe you're an Indian resident earning a foreign salary? The big question: how do you avoid paying tax TWICE?! 🤔 This guide has all the key strategies for avoiding double taxation on foreign salary!

First things first: your residential status matters a HUGE deal!

RORs (Resident and Ordinarily Resident Indians): Your global income (yep, even that foreign salary!) is taxable.

NRs (Non-residents) & RNORs (Resident but Not Ordinarily Residents): You're generally only taxed on your Indian income. Know your status!

Good news: DTAA (Double Taxation Avoidance Agreements) are your best friends! India has these agreements with tons of countries to give you tax relief. You can usually choose between:

Exemption Method: Your income is taxed in just one country. Simple!

Tax Credit Method: You get to reduce your Indian tax liability by the tax you already paid abroad. Smart, right?

Claiming Foreign Tax Credit (FTC)? You'll need some docs! Make sure you have Form 67 and your Tax Residency Certificate (TRC) ready. These are non-negotiable! 📑

When it's ITR time, ensure your foreign salary is perfectly reported in ‘Schedule FSI’, and claim your tax relief in ‘Schedule TR’. Doing this right helps you steer clear of penalties and those dreaded tax scrutiny notices!

Quick heads-up on common pitfalls:

Double-check your tax residency status. It's super important!

Always get your TRC. Seriously!

Calculate your tax credit accurately. Precision is key!

Stay compliant, maximize your earnings, and keep your international finances smooth. You've got this! ✨

[zactortech]

Is it beneficial to switch to the new income tax regime from the old regime?

Deciding whether to switch to the new income tax regime from the old regime depends on various factors and individual circumstances.

The new tax regime offers lower tax rates but eliminates most deductions and exemptions available under the old regime. This simplifies tax calculations and reduces paperwork, making it appealing for taxpayers seeking convenience and ease of compliance.

However, the old tax regime allows for various deductions and exemptions under sections such as 80C, 80D, 80G, etc., which can significantly reduce taxable income. For some taxpayers, claiming these deductions may result in lower tax liability compared to the new regime, especially if they have significant eligible deductions.

Need to calculate your income tax based on your salary? Zacortech's income tax tool makes it simple and hassle-free! Check it out here now: https://www.zactortech.com/calculators/income-tax-calculator and get to know which regime is better for you.