Insights

Plain-language notes on income tax, GST, TDS, payroll, subsidies, loans and FEMA for businesses in Vadodara and across Gujarat — what changed, and what to do about it.

Chartford note: the Supreme Court on 24 July 2026 upheld Section 16(2)(c) of the CGST Act, so input tax credit can be reversed where the supplier never paid.

GST

26 Jul 2026

Supplier Didn't Pay GST? Your ITC Is at Risk

SC (24 Jul 2026) upheld Section 16(2)(c): if your supplier never paid the tax, your credit can be reversed. What the order says, and what to do.

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Chartford note on NPS for salaried people: the 14% employer deduction under 80CCD(2), the withdrawal and exit rules, and what a nominee receives.

Income Tax

25 Jul 2026

NPS for Salaried People: the 14% You Can Claim

Your employer can route 14% of Basic + DA into NPS under 80CCD(2). What it returns against mutual funds, when you can withdraw, and what your family gets.

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Chartford note: the same Rs 100 cr limit costs Rs 6.45 cr a year as one Cash Credit vs Rs 5.40 cr split across CC, WCDL, packing credit, PCFC and invoice financing.

Subsidy & Loans

23 Jul 2026

Same limit, same bank, ₹1.05 crore less interest: how the shape of your working capital decides what it costs

Same Rs 100 cr limit, same bank: one Cash Credit costs Rs 6.45 cr a year, a purpose-matched mix Rs 5.40 cr. Includes a calculator to run your own numbers.

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Chartford note: new vs old tax regime AY 2026-27 - salary up to Rs 12.75 lakh is nil tax under the new regime (Rs 60,000 rebate u/s 87A), with slabs from nil up to 30% above Rs 24 lakh.

Income Tax

23 Jul 2026

Nine in ten have moved to the new tax regime. Should you?

Nine in ten taxpayers have moved to the new regime. Slabs, the Rs 60,000 rebate, Rs 12.75 lakh nil-tax salary - and when the old regime still costs you less.

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Chartford note: Gujarat MSME subsidies - capital subsidy up to 25% (max Rs 35 lakh), interest subsidy up to 7% for 7 years, and up to 100% net SGST reimbursed for 10 years, by taluka category.

Subsidy & Loans

22 Jul 2026

Gujarat MSME subsidies: every scheme a manufacturer can claim, in one place

Every Gujarat MSME subsidy in one place: capital subsidy up to Rs 35 lakh, 7% interest subsidy, 100% net SGST back, plus patent, rent and technology grants.

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Chartford note: Section 43B(h) — pay micro/small suppliers within 45 days or the deduction shifts to the year you actually pay; ITR-due-date relief does not apply.

MSME

22 Jul 2026

Pay your micro and small suppliers in 45 days — or your deduction waits a year

Section 43B(h): pay a micro or small supplier late and your deduction moves to the year you actually pay — and paying before the ITR due date will not save it.

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Chartford note: SC (Safecon Lifescience) holds a genuine, documented buyer can't be denied GST ITC under Section 74 just because the supplier was later deregistered.

GST

22 Jul 2026

Supplier's GST cancelled later? The Supreme Court just protected the genuine buyer's ITC

SC (Safecon Lifescience, 2026): a genuine, documented buyer can't lose GST input tax credit under Section 74 just because the supplier was later deregistered.

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Chartford note: LTCG profit harvesting — first Rs 1.25 lakh of equity long-term capital gains is tax-free each year, above that 12.5%; sell to book Rs 1.25L gain and rebuy to step up cost base, saving Rs 15,625/year per person; family funds get clubbed (Sec 64).

Income Tax

21 Jul 2026

Profit harvesting: how to book ₹1.25 lakh of equity gains tax-free every year

Profit harvesting: book ₹1.25 lakh of equity LTCG tax-free every year (Section 112A), reset your cost base, and save ₹15,625 in tax per person annually. How it works.

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Income Tax

21 Jul 2026

₹17 lakh in rent, zero tax? The house-property strategy for landlords

Landlords: earn up to ₹17 lakh rent with zero income tax via the flat 30% standard deduction — and uncapped home-loan interest on let-out property. How it works.

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Chartford note: unclaimed home-loan interest may be added to cost of acquisition to reduce capital gains — bought Rs 1 crore, Rs 50 lakh unclaimed interest, cost taken as Rs 1.5 crore; contested ITAT position, not settled law.

Income Tax

21 Jul 2026

Unclaimed home-loan interest? It may cut your capital-gains tax later

Couldn't claim your home-loan interest under the new regime? Some ITAT rulings allow adding it to your cost of acquisition to cut capital gains — a contested position.

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Chartford note: professionals under Section 58 presumptive tax — Rs 24 lakh receipts, declare 50% (Rs 12 lakh), new-regime 87A rebate = zero tax; limit Rs 50L/75L, no audit if you declare 50% or more.

Income Tax

21 Jul 2026

Zero tax up to ₹24 lakh? The presumptive-tax rule for professionals

Professionals: zero tax on up to ₹24 lakh of receipts — 50% presumptive income under Section 58 plus the new-regime rebate. How it works, who qualifies, conditions.

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Chartford note: small business under Section 44AD presumptive tax — Rs 2 crore digital turnover, declare 6% (Rs 12 lakh), new-regime 87A rebate = zero tax; 8% on cash, limit Rs 2cr/3cr, no audit.

Income Tax

21 Jul 2026

₹2 crore turnover, zero tax? The presumptive scheme for small businesses

Small businesses: up to ₹2 crore turnover with zero income tax — 6% presumptive profit on digital receipts (Section 44AD) and the new-regime rebate. How and who qualifies.

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Chartford note: ITR due dates AY 2026-27 (31 Jul salaried, 31 Aug non-audit business, 31 Oct audit), late fee up to Rs 5,000 under 234F, and benefits of filing on time — faster refunds, loans, visas.

Income Tax

21 Jul 2026

ITR filing due dates for AY 2026-27 — and why filing early pays

ITR due dates for AY 2026-27: 31 Jul salaried, 31 Aug non-audit business, 31 Oct audit. Plus Section 234F late fees and why filing early gets you faster refunds.

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