Income Tax : Gifts exceeding Rs.50,000 are taxable for the receiver under Income Tax, except those from relatives or received on marriage. TDS ...
Finance : Summary of mandatory financial record-keeping periods under the Income Tax Act, GST Law (72 months), and Companies Act (8 ye...
Income Tax : Summary: Taxpayers, particularly Individuals and HUFs not required to audit their accounts, must file their Income Tax Returns (IT...
Goods and Services Tax : The 56th GST Council meeting is set for September 2025. The agenda includes rationalizing tax slabs, simplifying compliance, and a...
Income Tax : Learn how new ITR business codes impact tax filing. Key additions include codes for influencers and traders. AI to boost complianc...
Corporate Law : Right now, MSME’s are in a bind, there are lot of suppliers who are not paying MSME’s their dues on time and it's causing MSME...
Learn how preparing a budget—whether personal, business, or government—ensures financial stability and discipline in daily life and planning.
The recent GST notifications introduce various changes aimed at streamlining compliance and addressing specific sectors. Let’s break down the key important notifications point by point.
Gujarat High Court rules that the assignment of leasehold rights is not subject to GST, providing relief to taxpayers by clarifying it as a property transfer.
The 55th GST Council Meeting introduced changes in GST rates, compliance mechanisms, and exemptions for businesses, including new definitions and tax amendments.
Arjuna: Krishna, I heard there’s a new Invoice Management System (IMS) on the GST portal. What’s it all about? It sounds complicated. Krishna: Arjuna, IMS is indeed a fresh addition, introduced in October 2024, but it’s quite beneficial if understood well. IMS allows recipient taxpayers to take various actions like accept, reject, or keep invoices […]
Learn about the planned overhaul of India’s Income Tax Act 1961, set to simplify and modernize tax laws by 2025, aiming for clarity, reduced litigation, and ease of compliance.
Explore the latest GST updates this Diwali, including amnesty schemes, new provisions, and compliance measures to help taxpayers celebrate responsibly.
Learn how to clean and worship your Books of Accounts on Diwali. Discover the provisions under various tax laws for discarding old records.
Learn about the Direct Tax Vivad Se Vishwas Scheme 2024, allowing taxpayers to resolve disputes by paying reduced amounts. Key details and benefits outlined.
GST Council’s 54th meeting brings rate cuts, compliance relief, and new e-invoicing for taxpayers. Key updates include lower GST rates and exemptions.
