Krishna and Associates — Tax Insights

By Murali Krishna Ravuri, Krishna & Associates, Bengaluru · 5 October 2026 "We made ₹10 lakh this month!" Then the accountant sends the profit and loss account (P&L), and it shows a loss. Or the opposite happens: the bank account is nearly empty after buying a new vehicle, yet the P&L says the business made a profit. If you run a business without an accounting background, this bank balance vs profit puzzle is one of the most confusing parts of the job. This guide explains, in plain language and with simple examples, every common reason why your bank balance and your profit tell different stories, and what that means for running your business. ⚡ Quick Read The answer in two minutes ☕ Simple Explanation Vijay and Hadhya talk it through over evening tea 📘 Detailed Guide Every reason explained, with worked examples 📑 Contents Quick Read Simple Explanation — Evening Chai Conversations Detailed Guide The one-line rule The four boxes at a glance...

By Murali Krishna Ravuri, Krishna & Associates, Bengaluru · 3 October 2026 Applies to: payments or credits made on or after 1 October 2026 (Tax Year 2026-27, i.e. 1 April 2026 to 31 March 2027, onwards) under the Income-tax Act, 2025, where a resident individual or HUF buys immovable property in India from a non-resident seller. A resident buying a flat from an NRI used to face one odd requirement that a buyer from a resident seller never did: apply for a TAN, deposit tax under it, file a quarterly return and issue a certificate, all for one transaction. From 1 October 2026, TDS on property purchase from an NRI can be paid and reported on the buyer's own PAN, without a TAN, where the buyer is a resident individual or HUF. The tax itself has not changed, and the new form asks for far more than the familiar 1% property form. This article explains what changed, what did not, and where buyers are most likely to go wrong. ⚡ Quick Read The change in eight points, two m...