Explore simplified summary of 10 important changes in Union Budget 2025 concerning direct taxes. Understand new income tax rates, MSME criteria, TDS thresholds, and more.
GST clarification on vouchers: no GST on vouchers themselves, but applicable on services like commission, marketing, and unredeemed vouchers.
GST Amnesty Scheme 128A offers relief on tax demands from FY 2017-18 to FY 2019-20. Eligible taxpayers can settle dues by March 2025 without penalties or interest.
Understand the new Invoice Management System (IMS) effective from 01.10.2024. Learn about recipient actions like acceptance, rejection, and pending status, impacting GSTR-2B and GSTR-3B filings under GST.
Discover key TDS rate reductions and new sections introduced in Union Budget 2024, including changes for insurance commissions, e-commerce, and more.
Union Budget 2024 proposes revised holding periods, increased short-term capital gains tax rates, and uniform long-term capital gains tax rates.
Understand the new GSTR-1A form for amending outward supplies of goods or services in the current tax period. Learn its features, availability, and process.
Understand CGST Act’s Section 16(4) time limits for claiming ITC on RCM supplies from unregistered persons, clarified in SEBI’s Circular No. 211/5/2024-GST.
Discover the major changes recommended by the 53rd GST Council meeting on June 22, 2024, including waivers, monetary limits for appeals, TCS rate reduction, and more.
Hello readers, After a long time, today I will discuss important points to keep in mind before filling out ITR: 1. Firstly, don’t rush to file ITR as the AIS (Annual Information Statement) is not yet fully updated on the Income Tax Portal. Wait until 15th June, as there might be information updated later on. […]
