Angular Frontend
Exciting Internship Opportunity for Angular Front-End Developers

Exciting Internship Opportunity for Angular Front-End Developers

Join Our Team as an Angular Front-End Developer Intern!

Are you ready to dive into the world of web development? We are thrilled to announce an internship opening for aspiring Angular Front-End Developers! This is an unmissable opportunity for anyone looking to hone their skills and gain practical experience in a dynamic tech environment.

What We Look For in Candidates

We’re searching for enthusiastic individuals who have a passion for front-end technologies, particularly Angular. Ideal candidates should have a foundational understanding of JavaScript, HTML, and CSS. If you’re eager to learn, collaborate, and grow, we want to hear from you!

Why Intern with Us?

Interning with our team provides a unique platform to work on real-world projects, receive hands-on mentorship from industry experts, and enhance your Angular skills. You’ll get the chance to engage in meaningful work while developing your professional network. Plus, it’s a perfect stepping stone for future career opportunities in tech!

Don’t miss this chance to advance your career as an Angular Front-End Developer. Apply now to join our team, and get ready to embark on an exciting journey!

Contact Us 

Send Your Updated Resume to : hradmin@swanirmit.com

Contact No : +91 81 8000 9888

Exciting Java Backend Internship Openings for Students!
Exciting Java Backend Internship Openings for Students!

Join Our Dynamic Team

Are you a student eager to kickstart your career in technology? We are thrilled to announce our Java backend internship opening! This is a fantastic opportunity for individuals who are passionate about coding and eager to learn in a professional environment.

What You’ll Experience

As a Java backend intern, you will dive into real-world projects, gaining hands-on experience in software development. You’ll be integrating with our talented development team, working on backend functionalities in Java, and contributing to the creation of scalable applications. We believe in fostering talent, and you will have the chance to learn best practices and techniques from experienced developers.

Who We’re Looking For

We are looking for students who have a strong foundation in Java programming and a keen interest in backend development. If you are motivated, detail-oriented, and eager to learn, this internship could be the perfect fit for you! Being a team player will be crucial as you collaborate with others to bring innovative solutions to life.

Don’t miss out on this incredible chance to enhance your skills and gain valuable experience within 8 months. Apply now and take your first step towards a promising career in tech!

Contact Us 

Send Your Updated Resume to : hradmin@swanirmit.com

Contact No : +91 81 8000 9888

 

GSTN issues comprehensive FAQ compilation on GSTR-9/9C for FY 2024-25

What’s New?

GSTN has issued a Consolidated set of FAQs for GSTR-9 and GSTR-9C for FY 2024-25 to assist taxpayers in accurately filing their Annual Return and Reconciliation Statement.

This consolidated document brings together FAQs earlier released on:

  • 16 October 2025

  • 4 December 2025

To simplify compliance, GSTN has now made all clarifications available in one single document on the GST portal.

👉 Download the Consolidated FAQs here
👉 Click here to enroll in the Practical GSTR-9/9C Course

📌 Objective of the Consolidated FAQs

The consolidated FAQs are intended to:

  • Address frequently asked questions and common errors in GSTR-9 and GSTR-9C filing

  • Offer clear guidance on reporting turnover, tax liability, ITC, amendments, and reversals

  • Minimise filing mistakes that could result in notices, mismatches, or departmental scrutiny

Bogus Claims पर CBDT की बड़ी पहल | करदाताओं को भेजे गए SMS-Email नोटिस

CBDT Flags Surge in Fake Deduction Claims: What Taxpayers Must Know

1. Context of the CBDT Press Release

The Income Tax Department has recently detected a sharp rise in incorrect and fraudulent claims of deductions and exemptions being reported in Income-tax Returns (ITRs). Investigations suggest that many of these claims were routed through intermediaries and agents operating nationwide on a commission-driven model.

In response, the Central Board of Direct Taxes (CBDT) has issued a firm advisory, cautioning taxpayers against such practices and urging them to voluntarily rectify incorrect claims.

2. Meaning of Bogus Deduction Claims

Bogus deduction claims are deductions or exemptions wrongly availed without actual eligibility, solely to reduce tax liability.

As per the CBDT, the most common areas of misuse include:

  • Donations made to Registered Unrecognised Political Parties (RUPPs)
  • Contributions shown to certain charitable institutions or trusts
  • Claims lacking genuine receipts or documentary evidence
  • Deductions backed by fabricated or altered documents

In several instances, intermediaries lured taxpayers with promises of inflated refunds in return for commissions.

3. Patterns and Methods Identified by the Department

Through investigation and data analysis, the Department uncovered that:

  • Several RUPPs were either inactive or completely non-operational
  • Many entities existed only on paper, with fake or unverifiable addresses
  • Funds were moved through dummy or layered bank accounts
  • Donation receipts were issued without any real charitable or political work
  • These entries were later used by individuals and companies to suppress taxable income

Search and survey operations have already been conducted, and substantial incriminating evidence has been seized.

4. Deployment of Data Analytics and AI

The CBDT has upgraded its compliance framework using technology-led tools.

Key developments include:

  • Use of advanced data analytics and AI-based risk assessment
  • Cross-verification of data from:
    • Income-tax returns
    • Donation disclosures
    • Bank transaction records
    • Registration details of recipient entities
  • Identification of high-risk behavioural trends among taxpayers

As a result, both genuine mistakes and deliberate misreporting are now easier to detect.

5. Provisions Under Scrutiny

The press release highlights close monitoring of deductions claimed under Section 80G of the Income-tax Act, 1961, which allows tax benefits for donations to approved institutions.

Other donation-related deduction provisions may also be examined if irregularities are noticed.

6. SMS and Email Alerts to Taxpayers

As part of a taxpayer-centric initiative, CBDT has rolled out a Targeted NUDGE Campaign.

Under this campaign:

  • Taxpayers suspected of claiming incorrect deductions are receiving
    • SMS notifications
    • Email advisories
  • These alerts are being sent from 12 December 2025 onwards
  • Messages are delivered to registered mobile numbers and email addresses

The intent is corrective—not punitive—at this stage.

7. Chance to Rectify Through Revised or Updated Returns

CBDT has clarified that:

  • Many taxpayers have already revised their returns for AY 2025–26
  • Others have opted to file Updated Returns for earlier assessment years

Taxpayers are being encouraged to:

  • Withdraw incorrect deduction claims
  • Pay due tax along with applicable interest
  • Avoid penalties and prosecution

This reflects the government’s philosophy of “trust first, enforce later.”

8. Risks of Ignoring the Advisory

Failure to act on the advisory may lead to:

  • Selection of cases for scrutiny assessments
  • Levy of penalties for under-reporting or misreporting income
  • Initiation of prosecution in serious or repeat cases
  • Action against intermediaries facilitating fraudulent claims

Ignoring the warning can therefore result in severe financial and legal consequences.

9. Immediate Steps for Taxpayers

Taxpayers should promptly:

  • Re-examine their ITRs, especially donation-related deductions
  • Verify the legitimacy of donee organisations, including approval status
  • Ensure possession of valid and authentic receipts
  • File a Revised or Updated Return if any error is discovered
  • Update correct contact details on the Income Tax Portal
  • Steer clear of agents offering “guaranteed refunds”

10. Final Message

The CBDT’s advisory serves both as a warning and an opportunity.

Only claim deductions you are genuinely eligible for.
Temporary gains through fake refunds can invite long-term legal trouble.

With technology-driven monitoring now firmly in place, tax evasion through bogus deductions is no longer hidden or risk-free.

CBDT detects fake claims related to political and charitable donations

The Central Board of Direct Taxes (CBDT) has detected large-scale misuse of income tax deductions claimed for political and charitable donations. On Saturday, the board said it has identified widespread fraudulent claims linked to such contributions and has initiated a targeted outreach campaign from December 12, urging taxpayers to recheck their returns and voluntarily withdraw incorrect claims.

According to the CBDT, several taxpayers had claimed deductions for donations made to Registered Unrecognised Political Parties (RUPPs) that were later found to be inactive, non-compliant in filing returns, or not engaged in any genuine political activity.

Investigations by the Income Tax Department also revealed the involvement of intermediaries who filed tax returns containing false claims of deductions and exemptions under the Income Tax Act, often in exchange for commissions. These intermediaries allegedly issued fake donation receipts, allowing taxpayers to unlawfully reduce their tax liability and claim illegitimate refunds. Action has already been initiated against such entities.

Further follow-up searches uncovered evidence of fictitious donations and bogus Corporate Social Responsibility (CSR) claims made by companies. Authorities also found indications that certain entities were being used as channels for routing funds, including suspected hawala transactions and cross-border remittances. Proceedings against these intermediaries are currently underway.

Using data analytics, the CBDT identified taxpayers who had availed themselves of such suspicious donations and transactions. When contacted, many of them failed to provide adequate evidence to prove the genuineness of their claims. As a result, several taxpayers have already revised their returns for the current assessment year 2025–26 and filed updated returns for earlier years.

To facilitate voluntary compliance, the CBDT has launched a “nudge” campaign, offering taxpayers an opportunity to correct their returns without coercive action. SMS and email advisories are being sent to identified taxpayers from December 12 on their registered contact details. The board has also advised taxpayers to ensure that their mobile numbers and email addresses are updated to avoid missing official communications.

Income Tax Act 2025: Gift Tax Provisions, Exempt Relatives and Gifts

Gift Tax under the New Income Tax Act, 2025: Tax-Free Gifts and Relatives Explained

The New Income Tax Act, 2025 introduces Section 92, which governs the taxation of gifts received by individuals, Hindu Undivided Families (HUFs), and other persons. This provision replaces the earlier Section 56(2)(x) of the Income Tax Act, 1961 and offers a more organised and comprehensive framework for taxing gifts involving money, movable assets and immovable property.

In India, every gift is not taxable. Whether a gift attracts tax depends on several factors, including:

  • The value of the gift

  • The relationship between the giver and the recipient

  • The nature of the asset received

  • The occasion on which the gift is received (marriage, inheritance, will, etc.)

This guide explains the scope of Section 92, covering taxable situations, exemptions, valuation rules, clubbing provisions and practical examples.

Meaning of Gift under Section 92

Under Section 92, a gift includes money, movable property or immovable property received:

  • Without consideration, or

  • For inadequate consideration

If the value of such gift exceeds ₹50,000, it becomes taxable as income, unless it qualifies for an exemption specified under Section 92(3).

When Are Gifts Taxable? (Section 92(2)(m))

1. Monetary Gifts from Non-Relatives

If total cash or monetary gifts received from non-relatives exceed ₹50,000 in a financial year, the entire amount becomes taxable.

Example:
₹20,000 from one friend + ₹40,000 from another friend
Total = ₹60,000 → Fully taxable

2. Immovable Property (Land or Building)

a) Received without consideration
If the stamp duty value (SDV) exceeds ₹50,000, the entire SDV is taxable.

b) Received for inadequate consideration
The difference between SDV and actual consideration is taxable if it exceeds:

  • ₹50,000, or

  • 10% of consideration (whichever is higher)

Example:
SDV: ₹50 lakh
Purchase price: ₹44 lakh
Difference: ₹6 lakh → Taxable

3. Movable Property (Jewellery, Shares, Bullion, Crypto, etc.)

a) Without consideration
If fair market value (FMV) exceeds ₹50,000, the full FMV is taxable.

b) With inadequate consideration
If FMV minus consideration exceeds ₹50,000, the difference is taxable.

Example:
Jewellery FMV ₹2,00,000 bought for ₹1,30,000
Difference ₹70,000 → Taxable

Gifts That Are Fully Exempt (Section 92(3))

A. Gifts from Relatives (No Limit)

For individuals, “relative” includes:

  • Spouse

  • Parents, grandparents and other lineal ascendants

  • Children, grandchildren and other lineal descendants

  • Siblings of self, spouse or parents

  • Lineal ascendants/descendants of spouse

  • Spouses of all the above relatives

For HUFs, any member of the HUF is treated as a relative.

👉 Gifts from relatives are fully exempt, irrespective of amount.

B. Gifts Received on Marriage of the Individual

All gifts received on the occasion of one’s own marriage are tax-free, regardless of value or source.
This exemption does not apply to anniversaries or relatives’ marriages.

C. Gifts Received through Will or Inheritance

Assets received by way of inheritance or under a will are completely exempt from tax.

D. Gifts in Contemplation of Death

Gifts given in anticipation of the donor’s death are exempt.

E. Gifts from Local Authorities

Exempt as per Schedule III.

F. Gifts from Registered Charitable or Non-Profit Institutions

Allowed under Section 355(g), subject to prescribed conditions.

G. Transactions Not Regarded as Transfer (Section 70)

Gifts arising from amalgamation, demerger or business restructuring are exempt.

H. Gifts to Trusts for Benefit of Relatives

Transfers made to trusts exclusively for relatives’ benefit are tax-free.

Special Provisions for Immovable Property (Section 92(4))

If the agreement date and registration date differ, the stamp duty value as on the agreement date may be considered, provided payment is made through banking or digital modes.

If stamp duty value is disputed, the Assessing Officer may refer valuation to a Valuation Officer.

Assets Covered under “Property” (Section 92(5)(f))

  • Land or building

  • Shares and securities

  • Jewellery

  • Paintings, sculptures, artworks

  • Archaeological collections

  • Bullion

  • Virtual Digital Assets (cryptocurrency, NFTs)

Clubbing of Income from Gifted Assets

While Section 92 taxes the receipt of gifts, income generated from gifted assets is taxed under clubbing provisions.

Example:
Cash gifted to spouse → Gift exempt
Interest earned → Clubbed in donor’s income

Similar rules apply to gifts to minor children.

Employer Gifts

Gifts from employers are taxed as salary perquisites.
Only long-service awards up to ₹5,000 are exempt.

Capital Gains on Sale of Gifted Property

  • Cost of acquisition = FMV considered at time of gift

  • Holding period starts from date of receipt

Documentation for Gifts

Acceptable proof includes:

  • Bank transfer records

  • Gift deed (optional but advisable)

  • Marriage invitation and gift list

  • Photographs and source explanation

Practical Examples

  • Gift from father ₹10 lakh → Exempt

  • Jewellery from friend ₹1 lakh → Taxable

  • Flat from paternal uncle → Exempt

  • Cash gift on marriage ₹5 lakh → Exempt

  • Undervalued land purchase → Difference taxable since she is the spouse of the father under the Income Tax Act.
    Accordingly, any gift received from her is fully exempt from tax, irrespective of the amount.

Direct Tax Changes in 2025: Simplification and Reduced Compliance Take Centre Stage

India’s direct tax framework underwent several significant changes in 2025 as the government prioritised tax simplification, eased compliance requirements, and sought to encourage higher consumer spending. The reforms—ranging from an overhauled personal tax regime and simplified TDS provisions to an extended tax holiday for startups and greater clarity on capital gains—have had a wide-ranging impact across the economy.

New tax regime made the default option

The most notable reform was the decision to make the new tax regime under Section 115BAC the default choice for taxpayers. The basic exemption limit was increased to ₹4 lakh, while the rebate under Section 87A was enhanced, effectively making income up to ₹12 lakh tax-free.

Experts say the impact of this shift is already being felt. According to them, the simplified slab structure and higher rebate have raised disposable incomes, providing a clear boost to consumption-driven sectors such as manufacturing and construction.

Simplified TDS framework

Budget 2025 introduced meaningful changes to the Tax Deduction at Source (TDS) provisions under the Income Tax Act, 1961, with the objective of easing compliance for individuals and businesses. TDS rules were streamlined and threshold limits enhanced, significantly lowering the compliance burden for small taxpayers and enterprises. In addition, the turnover limit for presumptive taxation under Section 44AD was increased to ₹3 crore, offering MSMEs greater flexibility and reduced administrative overheads.

Extended tax holiday for startups

The 2025 Budget also prolonged the 100 per cent profit-linked tax deduction for eligible startups, allowing them to claim the benefit for any three years within their first ten years of operation. This incentive has now been extended until April 1, 2030. The extended timeline is expected to support startups in navigating initial loss-making years and improve their ability to attract investment.

Key reforms for IFSC entities

The Finance Act, 2025 rolled out a series of tax incentives for units operating in the International Financial Services Centre (IFSC). Offshore funds and exchange-traded funds (ETFs) are now permitted to relocate to IFSC without triggering adverse tax consequences. Additionally, non-residents trading in offshore or over-the-counter derivatives through IFSC platforms will be eligible for tax exemptions. Tax incentives for IFSC units have also been extended up to March 31, 2030.

A significant amendment was also made to deemed dividend provisions. Inter-company loans will no longer be classified as deemed dividends when the lending entity is a finance company or an IFSC-based finance unit. According to Ananthapadmanabhan, this change has prompted large corporate groups to consider moving treasury operations to India, as the clarity around treasury-related lending removes a key area of concern.

Removal of equalisation levy

Under the Finance Act, 2025, the government abolished the equalisation levy on digital advertising with effect from April 1, 2025. This step has simplified the tax framework for multinational technology companies operating in India.

Taking an overall view, Ananthapadmanabhan said the reforms have strengthened the foundation for sustained, demand-driven economic growth, which is also evident in the sharp rise in GDP growth to 8.2 per cent in the second quarter of FY26.

GST inversion leading to input credit buildup, fertiliser industry urges clarification: FAI chief

New Delhi [India], December 10 (ANI): The Fertiliser Association of India (FAI) has sought key GST clarifications to ease financial pressure on the fertiliser sector, flagging that tax rate inversion is continuing to result in the accumulation of input tax credits.

Speaking to ANI, FAI Chairman S. Sankarasubramanian said the industry has been urging the government to align GST rates on key raw materials such as ammonia and sulphuric acid with the 5 per cent tax applicable on finished fertiliser products. He said this alignment would help reduce production costs and improve the competitiveness of fertiliser manufacturers, particularly in the phosphatic segment.

While recent GST reforms have offered some relief, Sankarasubramanian noted that they have not fully resolved the issue of unutilised credits.

“At present, phosphatic fertilisers attract GST at 5 per cent, while several inputs were earlier taxed at 18 per cent and have now been corrected to 5 per cent. Despite this reduction, a structural inversion remains because fertiliser prices include a subsidy component that falls outside the GST value. This leads to continued accumulation of input tax credit,” he explained.

Finished phosphatic and potassic (P&K) fertilisers are taxed at 5 per cent, whereas major inputs such as ammonia and sulphuric acid were taxed at higher rates. Combined with subsidies not forming part of the GST supply value, this mismatch has resulted in large volumes of blocked ITC, straining working capital and affecting industry efficiency.

Speaking on the sidelines of the FAI Annual Seminar 2025, the FAI Chairman welcomed the recent changes introduced by the finance ministry.

“The reduction of GST on raw materials like ammonia and sulphuric acid from 18 per cent to 5 per cent has helped ease the problem of credit accumulation,” he said, while adding that the core imbalance between input and output taxation still persists.

He said the industry has consistently sought government intervention and has approached the finance ministry through the Department of Fertilisers, requesting a mechanism to refund accumulated input tax credit for phosphatic fertilisers. “We are hopeful that this issue will be addressed soon,” he said.

On subsidy reforms, Sankarasubramanian welcomed the government’s proposal to move towards direct benefit transfer (DBT) to farmers instead of routing subsidies through fertiliser manufacturers.

“Under the existing DBT framework, subsidies are paid to the industry while farmers receive fertilisers at subsidised prices,” he said.

He added that the Department of Fertilisers is planning pilot projects in select states and districts. “We have read about the recent announcement. Pilot trials are likely to be conducted in some states in South India and a few districts. This could be a game changer,” he said.

According to him, the move would give farmers greater choice and control. “It places decision-making power directly in the hands of farmers regarding the fertilisers they use. As an industry, we support this initiative and welcome the government’s approach,” Sankarasubramanian said. (ANI)

ICAI advertising reforms and global networking rules cleared to strengthen domestic firms

The Institute of Chartered Accountants of India (ICAI) has cleared a wide-ranging set of regulatory reforms designed to reinforce domestic chartered accountancy firms. The measures include a relaxation of long-standing advertising norms and the introduction of a structured framework to enable international collaborations.

Addressing the media after the 447th Council meeting, ICAI President CA Charanjot Singh Nanda said the decisions reflect evolving market dynamics and professional needs. “These changes update the regulatory architecture and offer greater certainty to firms navigating a rapidly transforming business environment,” he said. ICAI Vice President CA Prasanna Kumar D was also present during the briefing.

Advertising Norms Liberalised After Years

The Council approved amendments to the Advertisement and Website Guidelines under the revised 13th edition of the Code of Ethics, which will take effect from April 1, 2026. The revised rules allow a wider range of advertising formats, enhanced descriptive content, and the use of push notifications for non-exclusive services such as consultancy and accounting.

In a key change, ICAI-registered network firms will now be allowed to operate their own websites, a move expected to improve outreach, branding, and coordination within professional networks.

According to Nanda, these revisions align existing norms with contemporary digital practices and provide firms with greater flexibility to communicate their services.

Framework for International Networking and Partnerships

Among the most significant decisions was the approval of the ICAI (Global Networking) Guidelines, 2025. These guidelines establish a formal mechanism for Indian firms, domestic networks, and ICAI-registered consulting entities to collaborate with overseas firms.

ICAI said the framework is aimed at empowering mid-sized and growing firms by facilitating access to global expertise, technology, and cross-border opportunities, while ensuring transparency through defined disclosure and compliance requirements.

Adoption of Updated Global Ethical Standards

The Council also adopted the 2024 Code of Ethics issued by the International Ethics Standards Board for Accountants (IESBA), introducing stricter norms on auditor independence.

Notable provisions include restrictions on audit firms undertaking Public Interest Entity (PIE) audits if they have rendered conflicting non-assurance services, expanded applicability of Non-Compliance with Laws and Regulations (NOCLAR) requirements to all listed entities and their key subsidiaries, and the inclusion of ethical standards for sustainability assurance engagements.

Additionally, the list of permitted Management Consultancy and Other Services has been widened to cover emerging areas such as artificial intelligence-related work, forensic accounting, and social-impact evaluations. The Council also recommended that audit fees be received only through banking or digital modes.

UDIN Milestone Achieved

ICAI said the issuance of Unique Document Identification Numbers (UDINs) crossed the 10-crore mark during the year, calling it a significant milestone in strengthening document authentication and professional transparency.

WOFA 2.0 Scheduled for 2026

The Institute further announced that the second edition of the World Forum of Accountants (WOFA 2.0) will be held from January 30 to February 1, 2026, at the India Expo Centre in Greater Noida. The event is expected to attract over 20,000 participants from more than 40 countries.

₹2,000 crore paid back till date under ‘Your Money, Your Right’ drive

Prime Minister Narendra Modi on Wednesday said that close to ₹2,000 crore has already been returned to rightful claimants under the government’s ‘Your Money, Your Right’ initiative, which was launched in October 2025 to help citizens recover long-forgotten financial assets.

In a post on social media, the Prime Minister said the initiative aims to ensure that every individual is able to reclaim money that legally belongs to them.

“Forgotten financial assets can be transformed into new opportunities. I urge everyone to participate in the ‘Your Money, Your Right’ movement,” PM Modi said.

The Prime Minister pointed out that a substantial amount of public money continues to remain unclaimed across various financial institutions in India. According to official data, banks are currently holding nearly ₹78,000 crore in unclaimed deposits. Insurance companies account for another ₹14,000 crore in unclaimed policy proceeds.

In addition, around ₹3,000 crore remains unclaimed with mutual fund houses, while unpaid dividends worth approximately ₹9,000 crore are also lying idle.

“These figures have come as a surprise to many, especially since they represent the hard-earned savings and investments of countless families,” the Prime Minister noted.

To simplify and bring transparency to the claim process, the government, along with financial regulators, has launched dedicated online portals to help citizens trace and recover their funds. These include the RBI’s UDGAM Portal for unclaimed bank deposits, IRDAI’s Bima Bharosa Portal for insurance-related claims, SEBI’s MITRA Portal for unclaimed mutual fund amounts, and the Ministry of Corporate Affairs’ IEPFA Portal for unpaid dividends and unclaimed shares.

PM Modi also highlighted that facilitation camps have been organised in 477 districts across both rural and urban India, with special emphasis on remote areas to ensure wider outreach and accessibility.

Through coordinated efforts involving the government, regulators, banks and financial institutions, nearly ₹2,000 crore has already been returned to citizens, he said.

The Prime Minister urged people to help expand the initiative by checking whether they or their family members have any unclaimed deposits, insurance payouts, dividends or investments. He encouraged citizens to make use of the dedicated portals and facilitation camps to recover their money.

“Take action today to claim what is rightfully yours and turn a forgotten financial asset into a new opportunity. Your money belongs to you, and together we must ensure it reaches its rightful owner. Let us work towards a transparent, financially empowered and inclusive India,” PM Modi said.