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Practical guides on tax, income documents, and financial paperwork for India's workforce — every claim cited against incometaxindia.gov.in, cbic.gov.in, and India Code.

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ITR Filing

Rent Receipt for ITR Filing — What You Need and What You Don't

Do you need rent receipts to file your ITR? Exactly what documents are required for HRA exemption in ITR-1 and ITR-2, common mistakes that trigger scrutiny, and how to generate compliant receipts.

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HRA Tax Guide

HRA Receipt Without Landlord PAN — What the Rules Actually Say

When the PAN field is mandatory, what to do if your landlord refuses, and how to claim HRA when annual rent exceeds ₹1 lakh and you cannot get the landlord PAN.

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Income Documentation

Salary Slip for Loan Application — No Company Required

Generate a bank-ready salary slip for home loan, personal loan, or credit card applications in 30 seconds. Works for salaried employees, informal workers, and self-employed individuals — no company letterhead required.

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Tax · Finance · Business
Tax Guide2 September 2026

What does a ₹1 revenue stamp on a rent receipt actually prove?

A ₹1 revenue stamp is a stamp-duty instrument under Schedule I, Article 53 of the Indian Stamp Act 1899, required on a receipt for money above ₹5,000 when the payment is made in cash. The stamp confirms one thing only: that the prescribed duty has been paid on the receipt as a document, which gives it civil evidentiary value as a stamped instrument. It does not authenticate whoever signed it, prove that the rent was actually paid, or satisfy Rule 26C of the Income Tax Rules 1962, the employer-side verification that activates when annual rent crosses ₹1,00,000. Those live in the Income Tax Act and Rules, not the Stamp Act. A Rule 26C-ready receipt is typed, carries the landlord PAN (or a CBDT Circular 8/2013 declaration where there is genuinely no PAN), references a bank UTR, and matches a bank-trail entry. The stamp can sit on that receipt or not; its presence does not strengthen those checks and its absence does not weaken them.

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GST1 September 2026

What turnover thresholds make GST registration mandatory in 2026?

GST registration turns mandatory at a turnover line that changes with what you supply and where. Under Section 22 of the CGST Act the threshold is ₹40 lakh for a supplier of goods only in normal-category states (₹20 lakh in special-category states), and ₹20 lakh for services or mixed supply (₹10 lakh in special-category states). Separately, Section 24 lists persons who must register regardless of turnover, from the first rupee: inter-state goods suppliers, e-commerce operators and the sellers on them, reverse-charge-liable persons, and casual or non-resident taxable persons. So the threshold question has two parts: are you over the turnover limit for your supply type and state, and do you fall into any Section 24 category that overrides it?

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GST23 August 2026

GSTR-1, GSTR-2B and GSTR-3B: Which GST Return Is Which, and How?

GSTR-1, GSTR-2B and GSTR-3B are the three core GST returns for a regular taxpayer, and they form one chain rather than three separate jobs. GSTR-1 is the outward-supplies return, a statement of every sale invoice you raised, filed under Section 37 of the CGST Act. GSTR-2B is an auto-drafted, static input tax credit statement the portal builds for you from your suppliers' GSTR-1 filings; it is a view, not a return you file. GSTR-3B is the monthly summary return where you declare net tax, claim the input tax credit GSTR-2B supports, add any reverse-charge liability, and actually pay, under Section 39. The order is fixed: GSTR-1 feeds GSTR-2B, which you reconcile before settling GSTR-3B. Due dates depend on whether you file monthly or under the QRMP scheme, and can be extended by CBIC notification, so confirm the current portal date before each cycle.

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GST26 June 2026

What Is the Time of Supply Under GST, and When Does Tax Become Due?

The time of supply is the point at which GST becomes payable, fixed by Section 12 of the CGST Act for goods and Section 13 for services. It decides which tax period a supply belongs to, and so which GSTR-3B pays the tax. For goods, the time of supply is the date the invoice is issued, or the last date by which it should have been issued under Section 31; the payment trigger was removed by Notification 66/2017, so an advance for goods is not taxed early. For services, it is the earlier of the invoice date, provided the invoice is raised within 30 days under Rule 47, or the date of payment. Under the reverse charge mechanism, Section 12(3) and 13(3) shift the time of supply to the earlier of the payment date or the day after a fixed window from the supplier's invoice, 30 days for goods and 60 days for services.

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GST26 June 2026

What Is the Value of Supply Under Section 15 of the CGST Act?

Value of supply is the amount GST is levied on. Under Section 15(1) of the CGST Act it is the transaction value, the price actually paid or payable for the supply, where the supplier and recipient are not related and the price is the sole consideration. Section 15(2) lists what must be added; Section 15(3) lists the discounts that may be deducted. Where transaction value cannot apply, the valuation Rules 27 to 35 step in.

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GST26 June 2026

What Are the GST Rate Slabs in India After the GST 2.0 Reform?

After the GST 2.0 reform recommended by the 56th GST Council and effective 22 September 2025, India taxes goods and services at three main GST rates, 5%, 18%, and a special 40% on sin and luxury goods, alongside a 0% nil rate. The earlier 12% and 28% slabs were largely merged into 5% and 18%. The rate that applies to a supply depends on its HSN or SAC classification under the rate notifications.

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GST26 June 2026

Exempt vs Nil-Rated vs Zero-Rated Supply: What Is the Difference?

Exempt, nil-rated, and zero-rated supplies all carry no output GST, but they treat input tax credit (ITC) very differently. Nil-rated and exempt supplies block ITC, so the tax you paid on purchases becomes a cost. Zero-rated supplies, exports and supplies to a Special Economic Zone under Section 16 of the IGST Act, keep ITC fully refundable. The distinction decides whether you recover the GST on your inputs.

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GST26 June 2026

Composite vs Mixed Supply Under Section 8: Which GST Rate Applies?

Section 8 of the CGST Act sets the GST rate when two or more supplies are billed together. A composite supply is naturally bundled with one principal supply, and Section 8(a) taxes the whole at the principal supply’s rate. A mixed supply is items sold together for a single price that are not naturally bundled, and Section 8(b) taxes the whole at the highest rate among them. GST never averages a bundle.

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GST26 June 2026

What Is TCS Under GST? The Tax E-Commerce Platforms Collect

TCS (Tax Collected at Source) under GST is the tax an electronic commerce operator (ECO) such as Amazon, Flipkart or Zomato deducts from the payments it passes to sellers on its platform. It is governed by Section 52 of the CGST Act. The ECO collects TCS on the net value of taxable supplies made through it, deposits it with the government, and reports it in a monthly GSTR-8 return. The rate was reduced from 1% to 0.5% (0.25% CGST + 0.25% SGST, or 0.5% IGST) with effect from 10 July 2024 under Notification 15/2024-Central Tax. The collected amount appears in the seller electronic cash ledger and is set off against the seller own GST liability, so it is an advance, not an extra tax. Sellers supplying taxable goods through an ECO must register for GST regardless of turnover under Section 24(ix).

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GST26 June 2026

Electronic Credit Ledger vs Cash Ledger: What Is the Difference?

Every GST registration carries two ledgers on the portal under Section 49 of the CGST Act. The electronic credit ledger holds input tax credit (ITC) earned on purchases and can be used only to pay output tax. The electronic cash ledger holds money deposited through a challan (Form PMT-06) and can pay anything: tax, interest, penalty, late fee, and reverse-charge liability. A third record, the electronic liability register, shows what is owed. Input tax credit is set off in a fixed order under Sections 49A and 49B with Rule 88A: IGST credit must be used first and exhausted before CGST or SGST credit. Because reverse-charge tax is a liability rather than output tax, it can never be paid from the credit ledger and must be paid in cash.

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GST26 June 2026

Aggregate Turnover (AATO): What Number Decides GST Registration?

Aggregate turnover, often shown as AATO (annual aggregate turnover), is the single number GST uses to decide whether you must register and which schemes you can use. Section 2(6) of the CGST Act defines it as the total value of all taxable supplies, exempt supplies, exports, and inter-state supplies of all persons holding the same PAN, computed across India, but excluding the GST itself (CGST, SGST, IGST, and cess) and the value of inward supplies taxed under reverse charge. Registration becomes mandatory once aggregate turnover crosses ₹20 lakh for service providers (₹10 lakh in some special-category states) or ₹40 lakh for a supplier of goods only (₹10 lakh in special-category states, and ₹20 lakh in states that opted out of the ₹40 lakh threshold). Because the test is PAN-level and includes exempt and inter-state supplies, businesses that track only taxable sales often cross the line without realising it.

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GST26 June 2026

Export of Services Under GST: When Is a Foreign Client a GST Export?

An export of services under GST is defined by Section 2(6) of the IGST Act through five conditions: the supplier is in India, the recipient is outside India, the place of supply is outside India, payment is received in convertible foreign exchange (or in rupees where the RBI permits), and the two parties are not merely branches of the same entity. Meet all five and the supply is zero-rated under Section 16 of the IGST Act, which is not the same as a 0% or exempt supply. A zero-rated exporter keeps full input tax credit and recovers tax in one of two ways: supply under a Letter of Undertaking (LUT) without charging IGST, or pay IGST on the invoice and claim a refund. Miss even one condition (most often the foreign-exchange one) and the supply is taxed as a normal domestic service.

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GST26 June 2026

Do You Owe GST on Zoom, Figma, or Google Workspace?

When a GST-registered business in India buys a service from a foreign supplier, such as Zoom, Figma, Google Workspace, or an overseas consultant, that purchase is an import of services under Section 2(11) of the IGST Act. The foreign supplier charges no Indian GST, so Section 5(3) of the IGST Act and Notification 10/2017-IGST(Rate) move the tax to the buyer under the reverse charge mechanism. The recipient pays IGST (18% on most digital and professional services) in cash from the electronic cash ledger, raises a self-invoice under Section 31(3)(f), and can then claim that IGST back as input tax credit if the service is otherwise eligible. The liability sits with the Indian buyer, so an unbilled foreign-software subscription is a common reverse-charge gap at audit.

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GST26 June 2026

What Is an Inverted Tax Structure and Who Can Claim a Refund?

An inverted tax structure is where the GST rate on your inputs is higher than the GST rate on what you sell, so input tax credit piles up faster than you can use it. Section 54(3) of the CGST Act lets a business claim a refund of that unutilised credit, with the amount capped by the Rule 89(5) formula. The refund covers credit on input goods, not input services, and certain notified supplies are barred from it altogether.

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GST26 June 2026

What Is an FIRC, and Why Do Service Exporters Need One?

A Foreign Inward Remittance Certificate, or FIRC, is a document issued by an authorised dealer bank certifying that an inward remittance in foreign currency has been received, along with the amount, currency, date and purpose. For a service exporter it is the standard proof that payment for the export arrived in convertible foreign exchange. That proof matters because an export of services qualifies as zero-rated under the IGST Act only when, among other conditions, the payment is received in foreign currency or in rupees where the RBI permits it. Without that evidence, a service export can be denied zero-rated treatment and the related refund of accumulated input tax credit. In practice the physical certificate has largely moved to an electronic FIRC issued by the bank, while exports of goods are evidenced through the DGFT electronic bank realisation certificate instead. The exact form and process vary by bank, so confirm what your authorised dealer issues.

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GST25 June 2026

What Is the GST Composition Scheme Under Section 10?

The composition scheme is GST's simplified track for small businesses under Section 10 of the CGST Act. A dealer with aggregate turnover up to ₹1.5 crore for goods (₹50 lakh for the separate service composition) pays a flat rate, 1% for traders and manufacturers, 5% for restaurants, 6% for the service composition, out of their own pocket. In exchange they give up two things: they cannot collect GST from customers, and they cannot claim input tax credit. Because no tax is collected, a composition dealer issues a bill of supply under Rule 49, not a tax invoice, and it must carry the declaration "composition taxable person, not eligible to collect tax on supplies". The scheme suits businesses selling to end-consumers, but makes a supplier more expensive to a B2B buyer who loses the credit.

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GST25 June 2026

What Is UTGST, and When Does CGST + UTGST Replace CGST + SGST?

UTGST, Union Territory GST, is the state-equivalent component of GST levied in a Union Territory that has no legislature of its own. Where an ordinary state charges CGST + SGST on an intra-state supply, such a Union Territory charges CGST + UTGST, levied under the UTGST Act 2017. The mechanics are identical to CGST + SGST: the rate splits in half, one half to the Centre and one half to the Union Territory, and a wrong head fails the same return reconciliation. UTGST applies in Union Territories without a legislature; the Union Territories that do have a legislature (Delhi, Puducherry, and Jammu and Kashmir) levy SGST through their own GST Acts instead. Inter-state supplies are unaffected; they still carry a single IGST.

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GST25 June 2026

What Is Section 17(5)? The Blocked Credits You Cannot Claim

Section 17(5) of the CGST Act lists the "blocked credits", purchases on which input tax credit cannot be claimed even when you hold a valid tax invoice and meet every Section 16 condition. The main blocked categories are passenger motor vehicles with up to 13 seats, food and beverages, outdoor catering, club and health memberships, goods used for personal consumption, and goods lost, stolen, or destroyed. Each category has narrow exceptions tied to the nature of your business. Knowing the list keeps you from claiming credit that a GST notice will later reverse with interest.

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GST25 June 2026

What Is an LUT? Exporting Without Paying IGST Upfront

A Letter of Undertaking (LUT) is a declaration in Form GST RFD-11 that lets an exporter or SEZ supplier make zero-rated supplies under Section 16 of the IGST Act without paying integrated GST (IGST) upfront. It is filed online once per financial year under Rule 96A of the CGST Rules and expires every 31 March, so a fresh LUT is needed each year. Without an LUT, an exporter must pay IGST on each export invoice and claim a refund later, which locks up working capital. The LUT carries a condition: export the goods within three months, or realise service payment within one year, or the IGST plus interest becomes due.

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GST25 June 2026

What Is TDS Under GST (Section 51)? Who Deducts and When

TDS under GST, governed by Section 51 of the CGST Act, is a 2% deduction that specified buyers, mainly government departments, government agencies, and public-sector undertakings, make from payments to their suppliers. It applies when the value of a taxable supply under a single contract exceeds Rs. 2.5 lakh, calculated on the value excluding GST. The deductor files Form GSTR-7 by the 10th of the next month, and the deducted amount lands in the supplier electronic cash ledger to set off against tax. This GST TDS is entirely separate from income-tax TDS under Sections 194C, 194J, and 194-IB.

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GST22 June 2026

What Is the Best Free GST Invoice Generator in India (2026)?

There is no single best free GST invoice generator in India. The right pick depends on the job. For ongoing accounting, GSTR-1 filing, and recurring billing, a full suite like Zoho fits. For a one-off pakka bill, hrareceipt.in wins the axes that job needs: pay-per-use at Rs. 5 instead of a monthly subscription, no ads and no document data stored on a server, and no account to make the invoice. This guide reads eight tools by job-to-be-done, including the pricing and data cost each one carries.

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Tax Guide19 June 2026

Can an NRI Claim HRA, and What About Rent Paid to an NRI Landlord?

A Non-Resident Indian can claim the HRA exemption under Section 10(13A) of the Income Tax Act on salary that is taxable in India, using the same least-of-three formula and the same rent receipts a resident uses, provided they file under the Old Tax Regime. Where an NRI has no HRA in their Indian salary, Section 80GG offers up to Rs. 60,000 a year instead. The separate, more common trap is on the tenant side: anyone paying rent to an NRI landlord must deduct TDS under Section 195 at roughly 31.2% from the first rupee, obtain a TAN, file Form 27Q, and lodge Form 15CA (with Form 15CB above Rs. 5 lakh). None of that applies to the 2% Section 194-IB rate on a resident landlord.

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GST17 June 2026

GST Reverse Charge: When Does a Small Business Pay for Its Supplier?

Reverse charge (RCM) means the buyer pays GST to the government instead of the supplier collecting it. It applies in two cases: Section 9(3) of the CGST Act, a notified list of supplies such as a goods transport agency, advocate or legal services, sponsorship, and a director's services to the company; and Section 9(4), a now-narrow set of cases where a notified recipient buys from an unregistered supplier. A small GST-registered business is squarely caught by the Section 9(3) list, must pay the tax in cash and not from input tax credit, must raise a self-invoice under Section 31(3)(f) when the supplier is unregistered, and stays liable even under the composition scheme, where no credit can be claimed on the RCM paid.

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GST16 June 2026

GST Tax Invoice (Pakka Bill): Rule 46 Fields and When It Is Valid

A GST tax invoice, the "pakka bill", is the only document that lets a buyer claim input tax credit and holds up in a GST audit. This guide covers the whole invoice: how a pakka bill differs from a kaccha slip, every field Rule 46 demands, the CGST/SGST/IGST split, HSN/SAC codes, B2B versus B2C rules, what is not a tax invoice (proforma, quotation, advance receipt), the mistakes that trigger a Section 122 notice, whether ₹5 crore e-invoicing reaches you, and how to switch from a kaccha bill to a compliant one.

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Tax Guide15 June 2026

No HRA From Your Employer? How Do You Claim Rent Under Section 80GG?

Self-employed individuals and salaried employees who do not receive House Rent Allowance can claim a rent deduction under Section 80GG of the Income Tax Act, up to Rs. 5,000 per month (Rs. 60,000 per year), by filing Form 10BA before the ITR due date. The deduction is available only under the Old Tax Regime and requires rent receipts for every month claimed.

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Anti-Fraud31 May 2026

Do Banks Accept AI-Generated Rent Receipts in Loan Applications?

Indian banks and NBFCs run institutional cross-checks on Form 26AS, AIS, EPFO, and the MCA registry that AI-generated income proofs cannot satisfy. Rejection at underwriting triggers a CIBIL flag plus a cooling-off period.

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HRA Tax Guide23 May 2026

Rule 26C: PAN Threshold Across 24 Cities

Across 24 Indian cities surveyed in May 2026, median 1BHK rent crosses the Rule 26C Rs 1 lakh threshold in 23 cities. Median 2BHK rent crosses it in all 24. Rule 26C compliance is the structural state of the urban rental market in 2026, not the exception.

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Tax Guide15 May 2026

Bill of Supply: Composition or Unregistered, Which Do You Issue?

Rule 49 of the CGST Rules 2017 requires a Bill of Supply (not a tax invoice) when GST is not collected on the supply, either because the supplier is below the GST registration threshold (Rs. 40 lakh goods / Rs. 20 lakh services) or because the supplier is on the Composition scheme under Section 10. Composition-scheme BoS must carry the Rule 5(1)(f) declaration ("Composition taxable person, not eligible to collect tax on supplies"); unregistered-seller BoS carries the supplier's PAN in place of a GSTIN. Buyers cannot claim Input Tax Credit against either variant; that is the defining difference from a pakka bill.

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GST5 May 2026

Shop Refused a GST Invoice: What Are Your Buyer Rights?

A GST-registered seller is legally obliged under Section 31 of the CGST Act to issue a tax invoice for every taxable supply. Refusal is a contravention you can report on the GST self-service portal. A no-bill discount looks like a saving but strips your warranty, return, and expense trail, and a B2B buyer loses Input Tax Credit on any purchase with no GSTIN-bearing invoice.

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GST5 May 2026

No GSTIN but Client Wants an Invoice? Issue a Bill of Supply

If you're below the Rs. 20 lakh services / Rs. 40 lakh goods GST registration threshold and have no GSTIN, the correct buyer-facing document is a Bill of Supply under Rule 49 of the CGST Rules. Format matches a tax invoice, with the GSTIN line replaced by your PAN and a 'no GST charged' declaration. Input Tax Credit is unavailable to the buyer.

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Tax Guide4 May 2026

What Is the Section 269ST Rs. 2 Lakh Cash Limit, and Who Pays the Penalty?

Section 269ST of the Income Tax Act, 1961 bars any person from receiving cash of ₹2,00,000 or more from a single person, whether in aggregate in a day, in a single transaction, or relating to one event or occasion. The penalty under Section 271DA equals 100% of the amount received and falls on the recipient, with no intent test. It is one of three cash rules a business runs into: Section 269ST caps what you receive, Section 40A(3) disallows a business expense you pay in cash above ₹10,000, and every cash receipt above ₹5,000 needs a Re. 1 revenue stamp. This guide covers all three, the payment receipt that documents them, and how a CA audits the lot.

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Tax Guide4 May 2026

Rule 26C: What Must an Employer Verify Before Granting HRA Exemption?

Rule 26C of the Income Tax Rules, 1962 requires every employer to collect documentary proof via Form 12BB (Form 124 from 1 April 2026) for rent paid, landlord name, landlord address, and landlord PAN if annual rent exceeds Rs. 1,00,000 before granting HRA exemption under Section 10(13A) in the TDS computation under Section 192 (Section 392 under the Income-tax Act, 2025). Missing proof exposes the employer to disallowance during assessment.

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Tax Guide4 May 2026

Which Rule 114B Thresholds Apply to NRIs and Freelancers?

For NRIs and freelancers, three Rule 114B thresholds matter most: cash deposits above Rs. 50,000 in a day at any Indian bank, time deposits above Rs. 50,000, and cash receipts above Rs. 2,00,000. The last threshold also triggers Section 269ST and a 100% penalty under Section 271DA. NRIs without Indian PAN apply via Form 49AA.

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Tax Guide3 May 2026

TDS 194C, 194J, 194-IB: Which Rate and Threshold Applies to You?

Section 194C of the Income Tax Act covers TDS on contractor payments above ₹30,000 per contract or ₹1,00,000 per year, at 1% to individuals/HUF and 2% to others. Section 194J covers professional fees above ₹50,000 per year, at 10% standard and 2% for technical services. Section 194-IB applies to monthly rent above ₹50,000 paid by individuals not subject to audit, with 2% deducted once a year via Form 26QC (Form 141 Schedule A from 1 April 2026) and Form 16C (Form 132 from 1 April 2026) issued to the landlord. Examples and how to show TDS on a payment receipt below.

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Tax Guide1 May 2026

Rule 114B: Is PAN Required for a Rs. 50,000 Cash Deposit, or Form 60?

A cash deposit above ₹50,000 in a single day at a bank needs PAN quoted under Rule 114B of the Income Tax Rules, 1962 (Rule 159 of the Income Tax Rules, 2026 from 1 April 2026); without PAN, the bank accepts Form 60. The same rule covers 18 transaction categories in all: time deposits above ₹50,000, cash payments to dealers above ₹2,00,000, immovable property above ₹10,00,000, and others. Form 60 (renumbered Form 97 from 1 April 2026) is the prescribed substitute under sub-rule (5) where PAN is not held.

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Finance30 April 2026

Salary Slip vs Form 16: How Do You Reconcile Them for ITR?

Your 12 monthly salary slips and annual Form 16 must reconcile across basic salary, HRA, PF, professional tax, and TDS. The IT Department's system auto-flags discrepancies because Form 16 Part A (TDS deposited under your PAN) is matched against Form 26AS. (Form 16 was renumbered to Form 130 and Form 26AS to Form 168 from 1 April 2026 under the new Income-tax Act, 2025; the reconciliation discipline is unchanged.) Common gaps that delay refunds or trigger scrutiny: salary arrears, variable pay paid mid-year, perquisites (car / accommodation / phone), and LTA claimed without travel bills.

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Tax Guide22 April 2026

How Is HRA Exemption Calculated for FY 2026-27?

HRA exemption under Section 10(13A) is the lowest of three figures: actual HRA received, rent paid minus 10% of basic salary, and 50% of basic for the 8 metro cities (Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, Ahmedabad) or 40% elsewhere. The 50% list expanded from 4 to 8 cities under Rule 279, in force from 1 April 2026. Available only under the Old Tax Regime.

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Business19 April 2026

Quotation vs Invoice vs Receipt: Which Do You Issue, and When?

A quotation, an invoice, and a receipt are three different documents at three stages of a transaction. A quotation is a price offer before work begins (no money owed). An invoice is a formal demand for payment after delivery (creates a legal payment obligation). A receipt confirms that payment was received (proof of transaction). GST-registered businesses must issue a tax invoice. Confusing the three causes compliance failures and disputes.

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Tax Guide17 April 2026

The Salaried Income-Tax Filing Guide FY 2026-27: Regime, Slabs, ITR-1 & Forms

Salaried Indians pay zero income tax up to Rs. 12,75,000 in FY 2026-27 (AY 2027-28) under the new tax regime, combining the Rs. 75,000 standard deduction with the Rs. 60,000 rebate. This guide covers the slabs, the old-vs-new break-even across four salary profiles, how to file ITR-1 for AY 2026-27, and the April 2026 form renames (Form 16 to 130, 26AS to 168, 12BB to 124).

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References

Related guides

Last reviewed: 27 October 2026