Understand the rules for revising MRP on unsold stock after GST rate changes. Learn about mandatory conditions, advertising, and consumer transparency.
A summary of the 56th GST Council Meeting’s recommendations, including changes to tax rates, simplified registration for small businesses, and new rules for credit notes.
Summary: Taxpayers, particularly Individuals and HUFs not required to audit their accounts, must file their Income Tax Returns (ITR) by the extended deadline of 15th September 2025 to avoid penalties and loss of benefits. Essential documents for filing include PAN and Aadhaar details, bank statements, Form 16, receipts for deductions under Section 80, and Form […]
The 56th GST Council meeting is set for September 2025. The agenda includes rationalizing tax slabs, simplifying compliance, and addressing inverted duty structures.
The Indian government has proposed GST reforms, including reducing tax slabs to 5% and 18%. This aims to simplify the structure and lower costs for daily-use items.
Drawing a parallel between India’s trade policies and personal finance, this summary outlines five key principles for investors to build financial independence and resilience.
Learn about the new changes to Form 3CD, which now requires detailed reporting of both timely and delayed payments to MSMEs to avoid penalties and disallowances.
Learn how new ITR business codes impact tax filing. Key additions include codes for influencers and traders. AI to boost compliance and detect mismatches.
Proposed Income Tax Bill 2025 aims to simplify tax rules by restoring 80M deduction, allowing NIL TDS certificates, and eliminating late-filing refund bar.
Summary: Under the Income Tax Act, individuals can claim tax deductions on insurance premiums, offering relief while ensuring financial protection. Premiums paid on life insurance policies qualify for deduction under Section 80C, up to a limit of ₹1.5 lakh annually, including other eligible investments, but only under the old tax regime. Health insurance and Mediclaim […]
