How Gold and Silver are taxed🔥👇
Asset Type | STCG Period | STCG Tax Rate | LTCG Period | LTCG Tax Rate
Physical Gold & Silver
Up to 24 Months | Slab Rate | Over 24 Months | 12.50%
Digital Gold & Silver
Up to 24 Months | Slab Rate | Over 24 Months | 12.50%
Gold & Silver ETFs
Up to 12 Months | Slab Rate | Over 12 Months | 12.50%
Gold & Silver Mutual Funds
Up to 24 Months | Slab Rate | Over 24 Months | 12.50%
SGB (Held to Maturity – 8 Years)
N/A | Slab Rate* | 8 Years | Exempt (0%)
SGB (Sold on Exchange)
Up to 12 Months | Slab Rate | Over 12 Months | 12.50%
Interest earned on SGBs (around 2.5% annually) is taxed every year as regular income.
Don’t let social media myths complicate your tax season!
Logging into the Income Tax e-Filing portal is completely hassle free.
❌ NO CAPTCHA
❌ NO Hassles
Log in today and file your ITR effortlessly.
🔗 Visit: www.incometax.gov.in
Gentle Reminder
Advance Tax Payment of First instalment cut off date is 15th June 🙏🏻
Old section of income tax rules has been modified under new sections.
Читать полностью…
| Section 10 Exemptions 💰
Tax planning isn't just about deductions—it's also about understanding exemptions.
From HRA and LTA to NRE interest, scholarships, and agricultural income, Section 10 helps reduce your taxable income legally and efficiently.
Know your exemptions. Save more tax.
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📢 New Information required in ITR Form of AY 2026-27 (FY 2025-26)
This Year (AY 2026-27) in ITR-4 Reporting of "Balance with Banks" is Mandatory
Earlier only Sundry Creditors, Inventories, Sundry Debtors and Cash-in-hand were Mandatorily required to be reported in ITR-4.
#IncomeTax #TaxationUpdates
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Kind Attention Taxpayers!
Online filing and Excel Utility for ITR-3 for A.Y. 2026–27 is now enabled on the e-Filing portal.
https://www.incometax.gov.in/iec/foportal/downloads/income-tax-returns
*Income Tax Returns portal is LIVE*
The Income Tax Return (ITR) filing portal for FY 2025-26 (AY 2026-27) is now live.
If you would like us to prepare and file your Income Tax Return, please reply to this message or contact at our mobile. We will guide you regarding the documents required and ensure timely and accurate filing of your return.
To avoid last-minute rush and delays, we recommend starting the process at the earliest as the last date is falling due on 31st July-2026.
ADVANCE TAX LAST DATE TOMORROW 15 JUNE
You must pay advance tax in four installments if your total tax liability exceeds ₹10,000 in a financial year. The due dates for paying these cumulative installments are:
June 15: At least 15% of your total tax liability
September 15: At least 45% of your total tax liability
December 15: At least 75% of your total tax liability
March 15: 100% of your total tax liability
Exceptions and Important Details:
Presumptive Taxation: If you are a freelancer or small business owner opting for the Presumptive Taxation Scheme (Sections 44AD or 44ADA), you have to pay 100% of your advance tax in a single installment by March 15.
Unexpected Income: For incomes that cannot be estimated beforehand (e.g., capital gains from the sale of property/shares or lottery winnings), advance tax should be paid in the remaining installments or by March 31 to avoid interest penalties.
Salaried Individuals: If you are a salaried employee, your employer will usually deduct tax at source (TDS). Advance tax is only necessary if you have other significant sources of income (like rent, freelance work, or capital gains) that aren't reported to your employer.
Penalty: Missing these deadlines or underpaying will attract a 1% monthly interest charge under Sections 424 and 425.
You can calculate and pay your dues online using the official Income Tax India Portal using Challan No. ITNS 280.
The deadline for the first installment of advance tax for Tax Year 2026-27 is June 15, 2026.
If your net tax liability exceeds ₹10,000 after accounting for TDS/TCS, you must pay at least 15% of your estimated tax by this Monday.
⏱️ Safe Margin Rule
12% buffer: No interest penalty if you clear at least 12% by June 15.
1% penalty: Shortfalls attract monthly interest under Section 425.
🛠️ Step-by-Step Payment
Estimate: Total your projected revenue and capital gains.
Deduct: Subtract any expected TDS or TCS credits.
Select: Log into the official Income Tax India Portal.
Choose: Pick Tax Year 2026-27 under the e-Pay Tax tab.
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PM Modi recently made a few national appeals to citizens.
But hidden inside those simple appeals… are powerful investment lessons for our financial journey.
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Many people sell a property… then suddenly realise they may have a BIG capital gains tax liability.
And panic usually starts when the ITR deadline comes closer.
But many investors still do not know this properly:
If you have not reinvested your capital gains immediately…
you may still preserve your tax exemption eligibility through the Capital Gains Account Scheme (CGAS) under Sections 54, 54F, etc.
The government allows you to temporarily park the unutilised capital gains amount in a special account until you complete the reinvestment within the prescribed timelines.
There are mainly 2 types:
✔️ Type A → Savings account
✔️ Type B → Term deposit account
Generally:
• Purchase of property: generally within 1 year before or 2 years after the transfer
• Construction: generally within 3 years after the transfer
One IMPORTANT point many people miss:
The amount usually needs to be deposited into CGAS before the due date of filing your ITR under Section 139(1).
Delay here can create problems in claiming exemption later.
I have seen families sell property worth lakhs or crores…
but lose unnecessary money simply because nobody explained the timing rules properly.
Tax planning is not only about saving tax. It is about understanding timelines, documentation, and compliance carefully.
Also remember:
Interest rates under CGAS vary from bank to bank.
For tax-related decisions, always consult a qualified Chartered Accountant or tax advisor before acting.
Srikanth Matrubai | ARN-51423 | AMFI Registered Mutual Fund Distributor
Disclaimer: This post is for educational and awareness purposes only and should not be construed as tax advice, legal advice, or investment recommendation. Please consult a qualified professional before making financial or tax-related decisions. Investments are subject to market risks. Please read all documents carefully before investing.
🚨 GST NOTICE RECEIVED?
Don’t Panic — Read This First 👇
A complete breakdown of GST Notices, timelines, penalties & survival strategy 🧵
1️⃣ First Rule: A GST Notice ≠ Punishment
It’s a legal communication asking:
👉 “Explain or correct”
But ignoring it can escalate to:
⚠️ Penalty
⚠️ Recovery
⚠️ Cancellation
⚠️ Even prosecution
(Page 3)
2️⃣ Why Do You Get GST Notices?
Top triggers:
• Non-filing of returns
• GSTR-1 vs 3B mismatch
• Excess ITC (2B vs 3B)
• Short payment of tax
• E-way bill issues
• Wrong refund claims
(Page 3–4)
3️⃣ The GST Notice Lifecycle (VERY IMPORTANT)
Intimation (No penalty)
Scrutiny Notice (ASMT-10)
SCN (DRC-01)
Order (DRC-07)
Recovery
Prosecution
👉 Delay = escalation
(Page 4)
4️⃣ Most Common Notices You’ll Face
📌 GSTR-3A → Non-filing
📌 DRC-01B → GSTR-1 vs 3B mismatch
📌 DRC-01C → Excess ITC
📌 ASMT-10 → Scrutiny
👉 All have STRICT timelines (7–30 days)
(Page 9–10)
5️⃣ Big Risk: Ignore Notice = Heavy Cost
Example:
• Late fee: ₹200/day
• Interest: 18% p.a.
• Penalty: up to 100% (fraud cases)
(Page 9, 4)
6️⃣ Golden Principle of GST Law
⚖️ Natural Justice applies
👉 No order without hearing
👉 You ALWAYS get a chance to reply
This is your strongest defense
(Page 3)
7️⃣ Most Practical Advice (From Department Experience)
✔️ Respond early
✔️ Submit facts + documents
✔️ Avoid emotional replies
✔️ Maintain records
👉 Early reply = issue closed at initial stage
(Page 5–6) �
8️⃣ Pro Tip: DRC-01A Stage = GOLDEN WINDOW
If demand is correct:
👉 Pay tax + interest
👉 NO penalty
Miss this → Full SCN + penalty
(Page 14)
9️⃣ Registration Notice Danger 🚨
REG-17 (Cancellation SCN)
If ignored:
❌ GSTIN cancelled
❌ ITC of buyers blocked
Timeline: Just 7 days
(Page 7–8)
🔟 Final Checklist (Save This)
Before replying:
✔️ Check section & form
✔️ Verify time limit
✔️ Check limitation (73/74)
✔️ Prepare documents
✔️ File proper reply
(Page 24)
💡 Final Thought
“A GST Notice is not a problem.
Ignoring it is.”
PDF Credit to @beevenkat
B. Venkateswaran, IRS (Retd.) Assistant Commissioner, Central GST
Thank You @beevenkat sir
@cbic_india @FinMinIndia
https://x.com/i/status/2048803710382539082
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