Key updates on Income Tax, GST, Customs, and more, including tax data sharing, high-risk e-verification, and recent judicial rulings.
Companies must report delayed payments over 45 days to MSMEs in a half-yearly return to the Ministry of Corporate Affairs under MSME Act, 2006.
Many taxpayers who have claimed an HRA deduction exceeding ₹5 lakh in their income tax returns have received an email from the Income Tax Department this Sunday requesting them to verify the HRA claims for the past three years because no TDS on rent payments has been made by the assesse u/s 194IB.
Confused about TDS on rent? Understand Section 194-IB, its implications, penalties, and solutions to rectify non-compliance. Find out the right steps to take.
Ensure GST compliance before March 2025 ends. Update billing, file LUT, reconcile ITC, and opt for schemes. Avoid penalties and litigation in FY 2025-26.
Latest GST advisories, compliance deadlines, and updates on tax evasion and insurance-related GST policies for March 2025. Key actions for taxpayers included.
GST waiver applications face technical issues. Payment due by March 31, 2025; waiver applications can be filed until June 30, 2025. Check details and solutions.
Gujarat High Court rules transfer of leasehold rights in land is not subject to GST, clarifying it as transfer of immovable property.
MSME investment and turnover limits revised. New thresholds apply from April 1, 2025, increasing eligibility for micro, small, and medium enterprises.
ACIT vs Prashant Prakash Nilawar case where ITAT Mumbai dismissed Rs. 17 Cr addition based on WhatsApp messages without concrete evidence. Understand judicial precedents cited.
