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First Ever GSTAT Order (11 February 2026): Sterling & Wilson Wins Relief in GSTR-1 vs GSTR-3B Mismatch Case Date of Order: 11 February 2026 Case: M/s Sterling & Wilson Pvt. Ltd. v. Commissioner, Odisha (APL/1/PB/2026) Bench: GST Appellate Tribunal (GSTAT), Principal Bench, Delhi The GST Appellate Tribunal (Principal Bench, Delhi) has delivered its first landmark order , and it has immediately become one of the most important rulings in GST litigation. The decision provides major clarity on: GSTR-1 vs GSTR-3B mismatch disputes Section 74 vs Section 73 of CGST Act Scope of Section 75(2) Powers of Appellate Authorities Automated mismatch-based GST demands Quick Summary (For Fast Readers) Mere GSTR-1 vs GSTR-3B mismatch is not proof of tax evasion . If fraud/suppression is not established, Section 74 cannot survive. Under Section 75(2), notice is deemed to be under Section 73. Appellate Authority cannot itself re-quantify deman...

Political Donation Deduction Allowed Without Assessee-Specific Evidence | ITAT Raipur Section 80GGC Political Donation Deduction under Section 80GGC Allowed in Absence of Assessee-Specific Evidence – ITAT Raipur Judgment Explained Political donations made by individuals have traditionally enjoyed tax benefits under Section 80GGC of the Income Tax Act, 1961 . However, in recent years, such donations—especially those made to Registered Unrecognized Political Parties (RUPPs) —have come under intense scrutiny by the Income Tax Department. In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Raipur Bench , in the case of ACIT, Circle-1(1), Bilaspur vs. Shri Anuj Prakash Gupta (AY 2019-20) , held that deduction under Section 80GGC cannot be denied merely on general investigation findings in the absence of assessee-specific evidence . Legal Background – Section 80GGC Section 80GGC allows individuals to claim deduction for donations made to political parties or ele...

Union Budget 2026 – Direct Tax Changes Explained | Your CA Guide Union Budget 2026 – Direct Tax Changes Explained What Taxpayers, Businesses & CFOs Should Actually Do Now Author: CA Manthan Gandhi | Your CA Guide Union Budget 2026 reinforces the Government’s long-term focus on tax certainty, simplified compliance, and reduced litigation . Instead of altering income tax slabs, the Budget introduces structural reforms impacting capital transactions, MAT, international taxation, penalties, and dispute resolution. A landmark proposal is the introduction of the New Income Tax Act, 2026 , expected to be implemented from 1 April 2026 , with the objective of simplifying tax law, reducing interpretational disputes, and improving administration. 1. Personal Taxation Reforms No Change in Income Tax Slabs Income tax slab rates remain unchanged, ensuring stability and predictability in personal tax planning. ...

Income Tax NUDGE Campaign 2026: Why You Received SMS/Email & What To Do | ITR Alert Guide Income Tax NUDGE Campaign 2026: Why You Received SMS/Email & What To Do The Income Tax Department has started sending SMS and email alerts under its data-driven NUDGE campaign to taxpayers across India. If you have received such a communication, it generally indicates that your Income Tax Return (ITR) has been flagged by risk analytics systems for potential mismatches or ineligible deduction claims. Why Was Your ITR Flagged Under NUDGE Campaign? The department uses advanced data analytics, AIS (Annual Information Statement), TIS, Form 26AS, and third-party reporting to identify high-risk claims. Common Reasons for Flagging: Suspicious donation claims under Section 80G or 80GGC Political donation deductions not matching reported data Incorrect PAN of donee quoted in ITR Mismatch between ITR and AIS/TIS data Excess or inflated deductions Claim...

Introduction Cryptocurrencies are digital assets that run on cryptographically secured distributed networks. They can be used as a medium of exchange and store of value. Stocks represent fractional ownership of shares in a company. While they are different asset classes, both crypto and stocks are tradeable and can be seen as investment vehicles. Crypto is a newer financial instrument that is prone to higher price volatility and risk.  Stocks are a long-established asset class that can yield both long and short-term returns.  While both instruments attract traders and investors, cryptocurrencies are often seen as an alternative to more traditional assets. There can be profitable strategies in both markets. This article breaks down the key differences between the two assets as well as their pros and cons. Crypto vs Stocks What is cryptocurrency? In simple terms, cryptocurrencies are digital currencies powered by blockchain technology. They rely on cryptographic techniques...

What is National Pension Scheme (NPS)? This is a voluntary and long-term investment plan for retirement. Like APY, the scheme is under the purview of the PFRDA. The NPS is open to employees from the public and private sectors. The scheme is self-funded pension system. NPS subscribers invest in the pension account at regular intervals. After retirement, the subscribers can take out a certain percentage of the corpus while the remaining amount will come to you as monthly pension. A portion of the NPS investment goes to equities/stocks. There is a cap on equity exposure for the National Pension System. The cap acts like a stabilizer for the risk-return equation. You can choose to invest your money in a wide range of options. The account maintenance costs under NPS are the lowest as compared to similar pension products available in India, like retirement plans offered by Insurance companies and mutual funds, according to PFRDA website. NPS subscribers have control on the choice of invest...

What is Atal Pension Yojana? This is a pension scheme mainly aimed at the unorganized sector. There is an option of getting a fixed pension of ₹ 1000, ₹ 2000, ₹ 3000, ₹ 4000, or ₹ 5000 on attaining the age of 60. The pension corpus is created from your contributions that are invested in different assets. The collected amount under the scheme is managed by the Pension Fund Regulatory and Development Authority of India (PFRDA). The pension is determined based on the individual’s age and the contribution amount. The contributor’s spouse can stake claim to the pension upon the contributor’s death. Upon the death of both the contributor and his/ her spouse, their nominee will be given the accumulated corpus. If the contributor dies before completing 60 years of age, the spouse is also given an option to exit the scheme and claim the corpus. Otherwise, they can continue the scheme for the remaining period. Interestingly, the government makes a co-contribution of 50% of the total contributi...

What are Sovereign Gold Bonds (SGB)? One of the latest investment innovations is SGBs or Sovereign Gold Bonds. The Sovereign Gold Bond Scheme was launched by the government in November 2015. Investing in gold is much easier and more convenient now with SGBs. As an investor, you can earn an assured interest rate (2.5% per annum at present). You also eliminate risk and cost of storage. The redemption is linked to the gold price prevailing at the time of redemption. Also, SGBs are exempt from the capital gains tax, if held till maturity. Its features include the tenure of 8 years with an option to exit from the 5th year. A holding certificate is issued towards investment in bonds. The customers will be issued a certificate of holding on the date of issuance of the SGB. Certificate of holding can be collected from the branches or is sent directly to e-mail ID from RBI, if the e-mail ID is provided in the application form. Certain banks offer the convenience of SGB investing online. An ev...

What is Sukanya Samriddhi Yojana (SSY)? This government scheme aims to securing a bright future for the girl child in India. This is done by facilitating the parents of a girl child in building a fund for the proper education and marriage expenses of their child. The beneficiary of this scheme can be any girl child who is a resident Indian, from the time of opening the account and till the time of maturity or closure. Parents or legal guardian of a girl child who has not attained the age of 10 years can easily open the account. The guardian is allowed to deposit the amount and operate the account. Do note that the account has to be mandatorily operated by the girl child after she attains 18 years age. There will be only one account per girl child. Also, accounts can be opened for a maximum of two girl children in one family, including those adopted. The SSY account can be opened in any post office or authorized branch of bank. A minimum of ₹ 250 and a maximum of ₹ 1.5 lakh can be inv...