Blogs

Indirect Tax Insights: Expert Analysis and Updates

Minimum Alternate Tax (MAT): Comprehensive Overview and Key Changes under Finance Bill, 2026

Minimum Alternate Tax (MAT) has long been a cornerstone of India’s corporate tax framework, designed to ensure that companies reporting substantial book profits do not entirely avoid tax liability through exemptions and incentives. Over the years, MAT has evolved to balance revenue considerations with taxpayer certainty. The Finance Bill, 2026 introduces significant structural changes to […] Print

Team Counselvise-February 06, 2026

Income Tax

free

Finance Bill, 2026: Key Direct Tax Amendments on Assessments and Appeals

The Finance Bill, 2026 introduces important refinements to the direct tax regime with a clear focus on easing compliance and reducing avoidable disputes. These changes are designed to offer taxpayers greater clarity, flexibility, and confidence while navigating income-tax procedures. 1. Updated Return: Expanded Scope and Greater Flexibility for Taxpayers Current PositionUnder the existing provisions, an […] Print

Team Counselvise-February 06, 2026

Income Tax

free

Budget 2026: 5 Major Personal Tax Changes Every Taxpayer Must Know

Union Budget 2026 introduces targeted reforms aimed at easing compliance, reducing litigation, and rationalizing personal taxation. While tax rates remain unchanged, several structural and procedural changes will significantly impact individual taxpayers, investors, and high-net-worth individuals. 1. More Time to File and Revise Your Income Tax Return What’s changed?The Government has extended timelines for filing and […] Print

Team Counselvise-February 05, 2026

GST

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Finance Bill, 2026: Key GST Reforms that will Reshape Compliance and Cash Flows

The Finance Bill, 2026 introduces a series of targeted yet impactful amendments to the GST and indirect tax framework, with a clear policy focus on compliance simplification, liquidity support, and ease of doing business. 1. Post-Sale Discounts: Long-Awaited Clarity Arrives 🔹 What was the issue? Under Section 15(3)(b) of the CGST Act, post-supply discounts were […] Print

Team Counselvise-February 03, 2026

Income Tax

free

From Endless Revisions to Timely Compliance: The New Era of TDS/TCS Rectification

A Paradigm Shift Towards Disciplined Tax Compliance– In India’s evolving tax ecosystem, TDS and TCS compliance has moved from being merely procedural to becoming time-bound and accountability-driven. One of the most significant recent changes is the introduction of statutory time limits for rectification of TDS/TCS statements marking a decisive shift from unlimited corrections to structured […] Print

Team Counselvise-January 30, 2026

Income Tax

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Revisionary Powers under the Black Money Act

The Black Money Act is meant to be strict.But even strict laws have limits. The core issue Can the tax department reopen a concluded assessment under the Black Money Act simply because it now holds a different view? The Background • A foreign trust was settled in 1990 by the assessee’s father, naming the assessee […] Print

Team Counselvise-January 28, 2026

GST

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Rule 31D under GST: MRP-Based Valuation Explained (Effective 1 February 2026)

The GST valuation framework has witnessed a significant shift with the insertion of Rule 31D of the CGST Rules, 2017, notified vide Notification No. 20/2025 – Central Tax dated 31 December 2025, effective from 1 February 2026. This rule introduces MRP based valuation for specified goods, overriding the conventional transaction value mechanism and addressing long-standing […] Print

Team Counselvise-January 26, 2026

Income Tax

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Section 54 is about Intent, Not Brick-by-Brick Completion

Tax law often forgets one thing: real life doesn’t move at the speed of statutes.Construction approvals get delayed. Plans change. Timelines slip. The Kolkata Bench of the ITAT has now reaffirmed this reality in a welcome ruling under Section 54 of the Income-tax Act. The Story in Brief: The assessee, Ramautar Saraf (HUF), sold a […] Print

Team Counselvise-January 24, 2026

Income Tax

free

Why India Needs Joint Taxation in Budget 2026 ?

In India, marriage changes almost everything social status, financial responsibilities, lifestyle choices. Except one thing. Income tax. Even after marriage, the tax system continues to treat spouses as two completely unrelated individuals. Two returns. Two slabs. Two separate computations. No recognition of shared household economics. As Budget 2026 approaches, this gap is becoming harder to […] Print

Team Counselvise-January 23, 2026

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Indirect Tax

Direct Tax

Indirect Tax

Corporate Law

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Indirect Tax

Direct Tax

Indirect Tax

Corporate Law

Other Links

Indirect Tax Insights: Expert Analysis and Updates

Minimum Alternate Tax (MAT): Comprehensive Overview and Key Changes under Finance Bill, 2026

Finance Bill, 2026: Key Direct Tax Amendments on Assessments and Appeals

Budget 2026: 5 Major Personal Tax Changes Every Taxpayer Must Know

Finance Bill, 2026: Key GST Reforms that will Reshape Compliance and Cash Flows

From Endless Revisions to Timely Compliance: The New Era of TDS/TCS Rectification

Revisionary Powers under the Black Money Act

Rule 31D under GST: MRP-Based Valuation Explained (Effective 1 February 2026)

Section 54 is about Intent, Not Brick-by-Brick Completion

Why India Needs Joint Taxation in Budget 2026 ?