The budget of the Indian government is an important document that details all of the expenditures, revenue collection, and development plans of the government for the current financial year. Every year, the budget is presented by the Finance Minister in the Indian Parliament, and it provides the basis for the allocation of resources for the country’s economic and social welfare.
In todays digital age, digital theft is a growing concern for many individuals and organizations around the world. The potential for malicious actors to exploit digital vulnerabilities to steal sensitive information or finances can have far-reaching consequences.
Is it possible for an assessee to be held responsible for the undeposited withheld tax if the person or entity that withheld the tax from the assessee’s income failed to do so?
Government has now made changes in the applicable Rules related to refund to consumers/ unregistered persons for cancelled contracts and where the time limit for making any changes by the supplier of service has expired.
Explore critical pre-budget concerns for India’s 2023-24 fiscal year. Uncover challenges such as job generation, rural-urban employment disparities, and the impact of automation on job opportunities. Delve into the ailing state of the agricultural sector, highlighting issues like shrinking arable land, youth aversion to farming, and inadequate cold storage infrastructure. Lastly, scrutinize the mismanaged taxation system, addressing repressive indirect taxes and an inefficient direct tax structure. Will the upcoming budget effectively tackle these impending challenges and sustain the nation’s economic stability
Explore the comprehensive guide to the new TDS Section 194R of the Income Tax Act effective from July 1, 2022. Understand its applicability, time of deduction, TDS rate, and non-applicability conditions. Delve into the clarification provided by the Central Board of Direct Taxes (CBDT) through circulars, addressing various scenarios and frequently asked questions (FAQs). Stay informed and compliant with the latest tax regulations on deduction of tax on benefits or perquisites related to business or profession.
Learn about the procedures and documents required for Persons Resident Outside India, including foreign nationals, Persons of Indian Origin (PIO), and Non-Resident Indians (NRI), to obtain Director Identification Number (DIN) for directorship in Indian companies. Understand the unique documentation needs based on residency status and get insights into the notarization and apostille requirements for identity and address proofs. Stay compliant with the Companies Act, 2013, and the Companies (Appointment and Qualifications of Directors) Rules, 2014, for director appointments in India.
Understand the intricacies of exporting goods and services against a Letter of Undertaking (LUT) in the GST regime. Learn about the eligibility criteria, validity, and the time for acceptance of LUT/Bond. Get insights into the consequences of delay in furnishing LUT and the process of furnishing LUT at the time of export. Stay compliant with the latest rules and regulations governing exports under LUT in the Goods and Services Tax system.
Stay updated with the latest GST developments! Explore the key clarifications and amendments issued by the Government in the Monthly GST Newsletter for January 2023. Know the compliance timelines and significant updates, including decisions from the 48th GST Council meeting.
Banks and financial institutions provide a bouquet of financial services relating to lending or borrowing of money or investments in money. In this article, I would be discussing various exemptions available under GST for availing banking services.
