"CA Ajay Naval, Partner at VDA & Associates, Pune "
GSTN has made Ship-To GSTIN reporting mandatory in Bill-To/Ship-To transactions to accurately capture the actual recipient of goods. The change aims to strengthen reconciliation, compliance monitoring, and transparency in goods movement.
The new law restructures TDS provisions into Sections 392, 393, and 394, altering compliance procedures. Correct selection of codes and deductee details is crucial to avoid errors and notices.
Learn about Budget 2025’s revised income tax slabs under the new regime, rebate benefits, and implications for individuals and corporates. Compare old vs. new tax systems.
Article explains differences between old and new tax regimes, filing income tax returns, and Form 10-IEA, Difference Between Income Tax Rates Under Old and New Tax Regime
Explore the impact of Finance Act 2023s Section 43B(h) amendment on timely payments to MSMEs. Learn the rules, exceptions, and its effects on taxable income.
Government in Budget 2021 notified Leave Travel Concession (LTC) cash Voucher scheme. In view of the situation arising out of outbreak of COVID pandemic, it is proposed to provide tax exemption to cash allowance in lieu of LTC. Initially, the scheme was announced in October 2020 for Central Government Employees and later via a press […]
BACKGROUND 1. Under the Annual Information Return (AIR) Scheme, Specified Entities were required to report Notified Transactions to Income Tax Department. 2. Section 285BA of Income Tax Act 1961 read with rule 114E of Income Tax Act 1962 w.e.f 01.04.2015 makes it mandatory for specified reporting persons to furnish statement of financial transactions electronically. WHO […]
Covid 19 Impact on Residential Status Under the Income Tax Act, 1961 for the F.Y 2019-20 Background 1. Section 6 of the Income Tax Act 1961, deals with the determination of residential status of a person (i.e resident, Non-resident and Not ordinary resident). 2. The taxability of income of person who is stay outside India […]
INSERTION OF NEW SECTION 194K FOR TDS ON DIVIDEND INCOME IN RESPECT OF UNITS OF MUTUAL FUNDS Background 1. Existing Tax Regime: How STT came into picture? a. When some taxpayers started evading tax on capital gains by not showing the details of gain on the sale of stocks b. The Finance Act, in 2004, […]
