by Team SKM | Mar 18, 2026 | Updates
As the financial year moves past the last advance tax deadline, a quieter but equally important task begins. For many taxpayers, especially business owners and professionals, the focus now shifts from payment to verification. Did the advance tax payment get recorded...
by Team SKM | Mar 17, 2026 | Updates
Introduction From April 1, 2024, a major compliance rule has come into force under Section 43B(h) of the Income Tax Act. This provision directly impacts businesses that purchase goods or services from MSMEs. The core idea is simple but powerful: If you don’t pay MSMEs...
by Team SKM | Mar 16, 2026 | Updates
As the next financial year approaches, India’s direct tax framework is preparing for one of its most significant structural updates in decades. From April 1, 2026, the newly enacted Income-tax Act, 2025, will replace the long-standing Income-tax Act of 1961. The...
by Team SKM | Mar 14, 2026 | Updates
As the financial year approaches its closing weeks, another compliance issue has quietly emerged for the restaurant industry. The Income-Tax Department has reportedly sent communication to around 63,000 restaurants across India, asking them to review and correct their...
by Team SKM | Mar 13, 2026 | Updates
As the financial year moves toward its final days, many salaried individuals begin reviewing their tax-saving investments. Most people are familiar with the usual options, insurance policies, ELSS funds, PPF or home loan deductions under Section 80C. But there is one...
