Krishna Gopal Varshney
- An editor at apnokaca
Krishna Gopal Varshney Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.
The Latest from Krishna Gopal Varshney
Income Tax Department Update: Revised ITR Forms to Enable the 87A Tax Rebate for FY 2023–2024
An amendment from the Income Tax Department permits taxpayers to file amended or late ITRs in order to receive the 87A tax refund for FY 2023–2024. This action, which complies with an order from the Bombay High Court, provides relief to qualifying taxpayers who make ₹5,00,000 or less a year. The distinctions between the rebate limitations under the previous and current tax regimes are also highlighted in the update. Discover how to make your rebate claim and make sure you're in compliance with this updated framework.
2025 Compliance Calendar: Important Business and Tax Due Dates for On-Time Submissions
To guarantee a seamless tax season, the 2025 Compliance Calendar gives people and companies important dates for filing taxes, submitting GST returns, and paying TDS. Businesses may stay out of trouble and maintain smooth operations by complying on schedule.
Understanding ITC: CBIC Clarifies Rules for E-Commerce Operators Under CGST Section 9(5)
The CBIC has clarified ITC eligibility for e-commerce operators (ECOs) under Section 9(5) of the CGST Act, 2017. ECOs can claim ITC for inputs and services directly linked to taxable supplies, excluding items restricted under Section 17(5), with proper documentation and compliance.
This guidance aims to reduce disputes, simplify compliance, and enhance transparency, though challenges like input segregation persist, promoting a more compliant e-commerce ecosystem.
IFSC Units' Tax Deduction Exemption
For transactions using IFSC units, the Ministry of Finance's notification S.O. 21(E), issued January 2, 2025, offers TDS exemption under Section 194Q. Businesses operating in these global financial zones can find it easier to comply with tax laws thanks to this program. Reduced administrative constraints for sellers and simpler procedures for buyers promote improved cooperation and help India realize its goal of becoming a major international financial center.
Income Tax and GST Compliance Deadlines for January 2025
In January 2025, be ahead of your tax and GST responsibilities. In order to ensure timely filings and prevent penalties, this thorough guide assists taxpayers and businesses in keeping track of the important deadlines for income tax and GST compliance. Find out when TDS deposits, ITR filings, GST returns, and other important dates are due.
RBI Guidelines 2025: Ensuring Compliance to Avoid Account Closures
The RBI's new standards require non-compliant bank accounts to be closed as of January 1, 2025. To prevent interruptions, account holders must maintain account activity, update their KYC information, and reply to compliance notices. Financial interruptions, limited banking services, and permanent account closure are possible outcomes of non-compliance. These steps are intended to improve financial system security, lower fraud, and increase transparency.
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Hospitality Sector GST Reforms: Key Changes for 2025
Changes to the hotel and restaurant tax structure, which will take effect on April 1, 2025, have been announced by the GST Council. By eliminating the idea of a "declared tariff" and tying GST rates to actual room tariffs, the amendments seek to make compliance easier. To meet their business objectives, hotels can select from a variety of GST arrangements. Find out how the hospitality industry will be affected by these developments and what hotels need to do to get ready.
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Major ITC Changes Unveiled at 55th GST Council Meeting: Impacts on Key Industries
Important modifications to the Input Tax Credit (ITC) regulations were introduced during the 55th GST Council Meeting, which had a big effect on the auto and construction sectors. Clarifications of eligibility, limitations on ITC for personal use, sector-specific actions, and improved compliance procedures are some of the most important revisions. The purpose of these modifications is to promote transparency in GST compliance and expedite ITC applications.
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Tax Relief for Innovators: All About Section 80RRB
Individuals who get royalties from patents may deduct up to ₹3,00,000 under Section 80RRB of the Income Tax Act, 1961. By lowering inventors' taxable income, this clause promotes innovation. Learn about the deduction's eligibility, requirements, and application procedure.
