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Insights, articles and updates from our practice

All (34) GST (9) General (1) Income Tax (12) NRI (7) TDS/TCS (3)

Filing on Time Is Not the Same as Being in Control: Why Your Business Needs a GST Health Check and Internal Review

By Thunuguntla & Associates 01 Oct 2026 6 min read

A client walked in last month with a DRC-01A intimation. His GST returns had never been filed late, and his accountant was diligent. Yet the ITC claimed in GSTR-3B had been running ahead of GSTR-2B fo...

#GST health check #GST compliance review #Working capital management

General

How a Balance Sheet Can Cheat You: 7 Numbers That Look Better Than They Actually Are

By Thunuguntla & Associates 18 Aug 2026 4 min read

Strong assets, healthy reserves, positive net worth — a good-looking balance sheet can lull you into a false sense of safety. These are the seven spots where the numbers quietly overstate your p...

#Balance Sheet Analysis #Financial Statement Analysis #Financial Due Diligence

Income Tax

Tax Audit Limits for F.Y. 2025-26: What Every Business Owner and Professional Must Know Before 30 September 2026

By Thunuguntla & Associates 13 Aug 2026 5 min read

The financial year has closed and the audit clock is now running. Whether you owe an auditor a Form 3CD depends on turnover, cash-transaction ratios, and whether you have opted in or out of presumptiv...

#Tax Audit #Section 44AB #Tax Audit Report

Income Tax

Taxation of Equity, Mutual Funds and ETFs in India — A Practical Guide for Investors

By Thunuguntla & Associates 05 Aug 2026 5 min read

Your CAMS statement shows a tidy profit, but how much of it actually reaches your bank account depends entirely on what you bought, when you bought it, and how long you held it. Here is a clean, curre...

#Equity Taxation #Capital Gains Tax #ETF Taxation

NRI

Foreign Income and Asset Disclosure for Returning NRIs — What Changes the Moment You Land, and What Doesn't

By Thunuguntla & Associates 03 Aug 2026 6 min read

You've packed up in Dubai, San Jose or London and moved back. Your 401(k), your NRE deposits, your rental flat in New Jersey — do you have to tell the Indian tax department about all of it from...

#Foreign income disclosure #Foreign asset reporting #RNOR status

NRI

How to Repatriate Sale Proceeds of Property from India: The FEMA Limits, Tax Clearances and Forms That Decide When Your Money Moves

By Thunuguntla & Associates 01 Aug 2026 6 min read

You sold the flat, the buyer paid, and the money is now sitting in your NRO account going nowhere. Repatriation is not a banking formality — it is a two-lock system where FEMA sets the ceiling and the...

#Repatriation of sale proceeds India #NRI property sale repatriation #Form A2 outward remittance

Non-GST Credit Notes: When a "Commercial" Credit Note Is the Right Call

By Thunuguntla & Associates 25 Jul 2026 5 min read

Not every credit note you issue can reduce your GST liability — and trying to force one through the wrong route invites notices. Here is when a financial (non-GST) credit note is the correct instrumen...

#Non-GST credit note #Post-sale discount #Commercial credit note

Income Tax

Schedule FA for AY 2026-27: How to Report Your US Stocks, ETFs and Brokerage Accounts Correctly

By Thunuguntla & Associates 04 Jul 2026 5 min read

If you hold shares, ETFs or a brokerage account outside India, Schedule FA in your ITR is not optional — and it does not follow the financial year. Here is exactly how to disclose your foreign holding...

#ITR filing #Schedule FA #Foreign Assets Disclosure

Income Tax

Income Tax Challan Correction: Complete Guide to Fix Wrong AY, Major Head & Minor Head

By Thunuguntla & Associates 01 Jul 2026 5 min read

Paid tax against the wrong Assessment Year or ticked the wrong Minor Head on your challan? You don't always need to run to the Assessing Officer anymore. Here's exactly which corrections you can make...

#Challan Correction #PAN TAN challan error #AO challan rectification

Income Tax

Section 148 Notice: A Complete Response Guide for Taxpayers

By Thunuguntla & Associates 30 Jun 2026 7 min read

Got a notice referencing income that "escaped assessment"? Here's exactly what a Section 148 notice means, the mandatory procedure the department must follow before issuing one, how far back they can...

#Section 148 notice #Reassessment time limit #Notice for escaped income

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