Finance
New Gratuity Norms 2025: What Indian Employees Must Know
Your Gratuity Payout: Calculating & Taxing Your Service Benefit in India (2025)
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by Krishna
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View all highlightsGST
View all postExplore the world of Goods and Services Tax (GST) with our comprehensive guide. Learn about GST rates, compliance, benefits, and its impact on businesses and consumers. Stay informed about the latest GST updates and ensure you're making the most of this taxation system.
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Avoid GST Penalties: How to Use Section 128A Forms for Waiver of Interest and Penalties
The purpose of the GST Amnesty Scheme is to help businesses who are having trouble complying with the GST law by waiving fines and interest in a number of ways under Section 128A. This blog offers a step-by-step tutorial on how taxpayers can apply for relief as well as an explanation of the purpose of these forms (GST SPL-01 to SPL-05). Businesses can manage the process efficiently and steer clear of further legal difficulties by adhering to the proper regulations.
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New E-Invoice Rules: 30-Day Reporting Obligation for 10 Crore AATO - Important Details for Companies
This document details India's upcoming e-invoice reporting requirement that will take effect in April 2025 for companies with a turnover exceeding ₹10 crore over a 30-day period. It outlines the compliance obligations, necessary system modifications, and potential penalties for failing to comply.
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GST Policy Updates (March 25–31, 2025): E-way Bill Tweaks & Compliance Changes
Dive into the most recent GST developments (from March 25th to March 31st, 2025), highlighting the increase in E-way Bill thresholds in Chhattisgarh, the CBIC’s reinforced compliance regulations, and the significant topics set for discussion at the GST Council meeting in April 2025. Ensure compliance with guidance from experts!
GST Refund Process for Deemed Export Buyers: An In-Depth Look with GSTN Updates
This blog post provides an in-depth guide on navigating GST refunds for recipients of deemed exports, drawing insights from recent GSTN advisories. It covers the definition of deemed exports, the importance of GSTN guidance, the step-by-step refund filing process, essential documentation, common challenges, and how to stay updated.
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Rule 86B Explained: How ITC Utilization is Limited Under GST
The CGST Rules 2017's Rule 86B, which restricts the use of Input Tax Credit (ITC) to settle GST liabilities, is thoroughly explained in this article. Along with useful examples and advantages, it discusses the rule's objectives, applicability, exemptions, and effects on businesses.
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Understanding the New RCM Rules for Rental of Immovable Property
This blog post explains the recent changes to the Reverse Charge Mechanism (RCM) for property rentals in India. Landlords of commercial properties are now responsible for paying GST on behalf of unregistered tenants. The changes take effect on October 10, 2024. Businesses must update their accounting systems and seek professional advice to ensure compliance.
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Major Tax Reform: No GST on Transfer of Industrial Leasehold Rights
In an effort to save expenses and tax uncertainties, the government announced that the sale of leasehold rights for industrial plots would be free from GST. The goals of this action are to encourage business-friendly conditions, reduce regulatory costs, and advance industrial expansion.
Income tax
View all postUnderstanding income tax is crucial for managing your finances. Discover how income tax works, learn about tax brackets, deductions, and credits. Stay informed about changes in tax laws and filing requirements. Navigate the world of taxation with confidence and ensure you make the most of your financial opportunities.
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ITR-U vs. Condonation of Delay: A Complete Guide for Late Taxpayers
This blog discusses the distinctions between ITR-U and Condonation of Delay for late tax filing in India. Learn about eligibility, methods, and how to select the best solution for your needs.
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Income Tax Bill 2025 vs. Income Tax Act 1961: New Utility Tool for Simplified Comparison
To make it easier to compare the Income Tax Bill 2025 with the Income Tax Act 1961, as amended by the Finance (No. 2) Act 2024, the Income Tax Department has released a Utility Tool. This application ensures improved compliance and lowers mistakes by assisting businesses, professionals, and taxpayers in understanding legal changes. Discover how to utilize this tool and the advantages it offers to different stakeholders.
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Tax Changes for NRIs: 15 Lakh Earners to Be Treated as Residents
New tax laws that impact NRIs have been adopted by the Indian government. An NRI may be considered a "Resident" for tax reasons if they make more than Rs. 15 lakh in India and do not pay taxes outside. The purpose of this modification is to guarantee equitable contributions and stop tax evasion. The blog examines its ramifications, tax obligations, and methods for preventing needless taxes.
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Section 80IA: Tax Incentives for Infrastructure Development
Ever wondered how India builds its infrastructure? Section 80IA of the Income Tax Act plays a key role! This blog dives deep into the benefits it offers businesses involved in building roads, power plants, and other critical infrastructure projects. Learn about eligibility, tax deductions, and how it fuels the nation's growth.
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CII for FY 2025-26 Notified: What India's New Cost Inflation Index Means for Your Capital Gains
The Central Board of Direct Taxes (CBDT) has announced the Cost Inflation Index (CII) for FY 2025-26 as 376. This blog post explains what CII is, how the new index will be applied from AY 2026-27, who it impacts, and provides an example of how it reduces taxable long-term capital gains, particularly for real estate acquired before July 23, 2024. It highlights the importance of understanding this update for accurate tax filing.
How to Claim Tax Refund and What to Do If Your Refund is Delayed
This blog post provides a comprehensive guide on how to claim a tax refund, including the necessary steps, required documents, and tips to avoid delays. It also covers what to do if your refund is delayed, including how to track its status and resolve common issues.
A Comprehensive Guide to Understanding Section 40 of the Income Tax Act
This blog offers a thorough examination of Section 40 of the Income Tax Act of 1961, with an emphasis on the costs that companies and professions can deduct. Important clauses are outlined in it, such as payments to residents and non-residents, TDS obligations, and restrictions on director and partner salaries. Emphasis is placed on the necessity of compliance as well as the possible repercussions of non-compliance, including higher tax liabilities and prohibited costs. With the help of this thorough tutorial, taxpayers should be able to handle the complexity of Section 40 and keep proper tax records.
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CBDT’s Latest TDS Rate Chart for AY 2025–2026: What Taxpayers Need to Know
The new TDS rate chart for AY 2025–2026, which details the relevant rates for residents and non-residents, has been made public by the CBDT. Important clauses, noteworthy modifications, compliance dates, and advice on implementing the most recent TDS rates into your financial procedures are all highlighted in this article. To guarantee timely tax filing and prevent fines, be informed.
Taxpayer Alert! Decoding Income Tax Department's New Rules for FY 2025-26
The Income Tax Department is making significant updates and tightening compliance for FY 2025-26 (AY 2026-27). This blog post serves as an important "taxpayer alert." It explains key changes, such as the mandatory Aadhaar-based verification for updates to the e-filing portal and PAN applications. There is also a stronger emphasis on computer-assisted scrutiny (CASS) for certain types of returns, including survey/search cases, ITR-7 filers, recurring additions, and intelligence alerts. Additionally, it provides information on expected delays in ITR refunds due to outstanding demands and technical upgrades. The focus on HRA claims will tighten, especially those that involve family members. It highlights the need for proactive compliance, careful record-keeping, and timely responses to avoid penalties and ensure a smooth tax experience.
Demystifying TDS Return Forms: Understanding 24Q, 26Q, 27Q, 27EQ, and 27D - APNOKACA Insights
Tax Deducted at Source (TDS) helps prevent tax evasion by deducting taxes from an individual's income before they receive it. The collector deducts tax at a predetermined rate.
Finance
View all postDive into the world of finance and empower your financial future. Explore personal finance tips, investment strategies, budgeting, and more. Stay informed about global financial news and trends. Unlock the keys to financial stability and prosperity with our comprehensive finance resources.
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Change in Taxation of Buy Back Of Shares: Understanding the New Regime Effective from October 1, 2024
With effect from October 1, 2024, the government has made major changes to the taxation of share buybacks. The new system, its effects on businesses and shareholders, and the rationale for these modifications are all explained in this blog post.
Decoding Cheque Bouncing Outcomes: Factors for Ensuring Cheque Validity
Cheques have long served as a trusted method of payment, facilitating transactions across various financial endeavors.
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Financial Relief: EPFO's New Early Pension Rule
This blog offers details on the new EPFO regulation that permits members to take an early pension withdrawal in specific situations. It describes the benefits of early pension withdrawal as well as the qualifying requirements and procedure. The possible effects of this adjustment on EPFO members' financial security are also covered in the blog.
India Cracks Down Financial Fraud 7 Million Mobile Numbers
The meeting, attended by representatives from RBI, TRAI, and economic affairs and revenue departments, addressed the need to secure Aadhaar data to prevent misuse.
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Navigating the Complex World of High-Net-Worth Individuals in India
This blog provides an overview of High-Net-Worth Individuals (HNWIs) in India, defined as individuals with a net worth exceeding ₹5 crore. It discusses their investment preferences, including real estate, stocks, and alternative assets, and highlights their financial goals like wealth preservation, tax efficiency, and legacy planning. The blog also addresses challenges such as tax planning, risk management, and liquidity issues. Additionally, it covers key tax considerations, estate planning strategies, and philanthropic efforts, offering insights into effective wealth management for HNWIs.
EPFO Alert Withdrawal Facility Discontinuation
The Employees’ Provident Fund Organisation (EPFO) has closed the option for subscribers to withdraw a portion of their retirement savings as a Covid-19 relief measure.
Check EPF Balance Online SMS Call UMANG
How to check epf balance online: The EPFO annually credits interest to over 24 crore EPF accounts. For FY 2022-23, the interest rate is 8.15%, announced in June 2023.
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